Global Aircraft Aftermarket Parts Market Overview2

Global Aircraft Aftermarket Parts Market Overview

Aircraft Aftermarket Parts Market Size was valued at USD 24.1 Billion in 2022. The Aircraft Aftermarket Parts Market industry is projected to grow from USD 25.94 Billion in 2023 to USD 46.71 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.63% during the forecast period (2023 – 2032). Increase in the number of commercial planes and the aerospace industry rapidly adopting 3D printing are the key market drivers enhancing market growth.

Market CAGR for aircraft aftermarket parts is driven by the growing number of individuals taking flight sky worldwide. Airlines are expanding their fleets to accommodate the ever-increasing air travel volume, both passenger and freight. There has been an increase in the flight operating duration of aircraft carriers, necessitating more frequent aircraft maintenance. Since poor maintenance can cost billions of dollars, airlines need a reliable system to keep their planes in good working order at all times. Concerns about delays in maintenance that could lead to accidents and incidents in the aviation industry are also driving the demand for prompt repairs of damaged parts among aircraft operators. It can aid the operators in reducing the potential for mishaps related to aircraft operations. Aircraft operators can avoid unnecessary expenses by performing scheduled maintenance on their planes at optimal times.

Additionally, aircraft of the next generation feature cutting-edge sensors for data collection and analysis in real-time. The collected information is then used to refine the predictive maintenance models and algorithms. In addition, the digitization of the MRO procedure has increased the accessibility of aviation aftermarket components and systems. Therefore, cutting-edge technologies like big data and the digitalization of processes in delivering aftermarket parts have enabled businesses to comprehend the unpredictability of airline orders better and make informed strategic decisions. The aftermarket for airplane components is expected to expand due to these factors over the next few years.

For instance, Middle Georgia Regional Airport in Macon, Georgia, is home to MHI RJ Aviation Group’s (MHIRJ) newest maintenance, repair, and overhaul (MRO) facility, expanding the company’s presence in the North American market. In addition, the MRO service provider’s West Virginia Service Center expansion project’s Phase 1 was finished in October 2022. As a result, demand for the aircraft aftermarket parts market is anticipated to increase throughout the projection period due to the rising aircraft fleet. Thus, the driving factor is aircraft aftermarket parts market revenue.

Aircraft Aftermarket Parts Market Parts Insights

The aircraft aftermarket parts market segmentation, based on parts, includes MRO parts, rotatable scrap, replacement parts, consumables, and expendables. In 2022, the MRO parts segment led the aircraft aftermarket parts market in revenue because as more and more complex planes enter service, there will be a greater requirement to provide ongoing maintenance for these planes worldwide.

The aircraft aftermarket parts market segmentation, based on application, includes commercial and military. The commercial sector is expected to develop at a CAGR of 7.63% over the projected period, making up the largest market share due largely to the growing number of aircraft used by airlines and freight companies and increased interest from airlines and aftermarket service providers has led to concerns about the availability and accessibility of commercial aircraft aftermarket Parts market parts.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American aircraft aftermarket parts market will dominate this market because maintenance, repair, and overhaul (MRO) service providers can take credit for the expansion as they focus on the aftermarket’s increasing investment. In addition, the increasing need for PMA process standardization in the United States is also expected to expand the market in this region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s aircraft aftermarket parts market accounts for the second-largest market share because government regulations regarding the import and export of aftermarket components are being rewritten, which is a driving factor in the expansion of the business. Further, the German aircraft aftermarket parts market held the largest market share, and the UK aircraft aftermarket parts market was the fastest-growing market in the European region.

The Asia-Pacific aircraft aftermarket parts market is expected to grow at the fastest CAGR from 2023 to 2032. Due to digitalization, demand for commercial aircraft maintenance is expected to rise due to rising air traffic in the Region. Additionally, many countries are boosting their exports of aircraft components. Moreover, China’s aircraft aftermarket parts market held the largest market share, and the Indian aircraft aftermarket parts market was the fastest-growing market in the Asia-Pacific region.

Aircraft Aftermarket Parts Market Key Market Players Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the aircraft aftermarket parts market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the aircraft aftermarket parts market industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the aircraft aftermarket parts market industry to benefit clients and increase the market sector. In recent years, the aircraft aftermarket parts market industry has offered some of the most significant technological advancements. Major players in the aircraft aftermarket parts market, including AAR (US), J. Walter Aviation Limited (UK), Eaton (Ireland), Parker Hannifin Corporation (US), Aviall (US), Kellstrom Aerospace (US), General Electric (US), Honeywell International Inc. (US), Meggitt PLC (England), Collins Aerospace (US), and others, are attempting to increase market demand by investing in research and development operations.

AAR is a multinational provider of aftermarket services for the aerospace and defense industries in more than 20 nations. Aviation Services and Expeditionary Services are two of AAR’s business divisions that help both commercial and government clients. Maintenance, Repair, and Overhaul (MRO) Services, Original Equipment Manufacturer (OEM) Solutions, Integrated Solutions, and Parts Supply are all a part of AAR’s Aviation Services. The management of Mobility Systems is a part of AAR’s Expeditionary Services. Our aftermarket knowledge and innovative solutions have won multiple awards and are helping businesses save money without sacrificing quality or safety. In March 2023, AAR CORP, a major service provider for the aviation industry, signed a distribution deal with Cloud Cap Technology, a division of Collins Aerospace Mission Systems. Built on AAR’s civil and government ties, as well as its proven supply chain and sales support systems, this arrangement increases AAR’s footprint in the Unmanned Aerial System (UAS) sector.


Key Companies in the Aircraft Aftermarket Parts Market include.

  • AAR (US)
  • Walter Aviation Limited (UK)
  • Eaton (Ireland)
  • Parker Hannifin Corporation (US)
  • Aviall (US)
  • Kellstrom Aerospace (US)
  • General Electric (US)
  • Honeywell International Inc. (US)
  • Meggitt PLC (England)
  • Collins Aerospace (US)

Key companies in the plane Aftermarket elements market include.

  • AAR (US)
  • Walter Aviation restrained (UK)
  • Eaton (Ireland)
  • Parker Hannifin enterprise (US)
  • Aviall (US)
  • Kellstrom Aerospace (US)
  • standard electric powered (US)
  • Honeywell international Inc. (US)
  • Meggitt p.c (England)
  • Collins Aerospace (US)
Digital Transformation Propels the Aviation Industry into the Future2

Digital Transformation Propels the Aviation Industry into the Future

The aviation industry is undergoing a digital revolution. Many airlines have embraced cloud computing, big data analytics, and the Internet of Things to transform operations. Driven by a goal to achieve 100% digitalization and data-driven decision making, over 90% of airline executives are prioritizing digital initiatives aimed at improving customer experiences and operational performance. Digital technologies enable airlines to increase agility, flexibility, and shorten planning cycles.

Despite economic headwinds, the aviation industry continues to make digital transformation a top priority, investing heavily in new technologies. Advancements in digital technology have already had a profound impact, leading to enhanced safety, efficiency, and convenience for passengers. Key innovations transforming aviation include real-time weather monitoring, e-enabled airplanes, airport facial recognition, and digital twins for predictive maintenance. As aviation rapidly digitizes, the industry is positioned for an innovative and customer-focused future.

Electronic Flight Bags (EFBs) are portable devices like tablets or smartphones that pilots utilize to access flight information and manuals.

Automated Check-in and Boarding allow passengers to check in and board their flights through self-service kiosks or mobile devices, decreasing wait times and enhancing efficiency.

Advanced Navigation and Communication Systems, such as GPS and satellite communications, empower pilots to navigate and communicate with air traffic control more effectively, boosting safety and reducing delays.

Maintenance Management Software enables software systems to monitor aircraft systems and issue alerts when maintenance is needed, decreasing downtime and enhancing safety.

In-flight Entertainment and Connectivity offer passengers access to movies, TV shows, and other entertainment options on their personal devices or through seatback screens. Many airlines now provide Wi-Fi and other connectivity options.

By adopting and implementing new technologies, airports are reevaluating their operations to become safer, more sustainable, secure, and efficient. While these digital advancements have reshaped the aviation industry, they also pose challenges concerning software and digital adoption. Businesses must adapt to these advancements to stay competitive and deliver a seamless experience for passengers.

The airline industry has made significant strides since its inception. Airlines have vastly improved their technology, safety standards, and customer service over the past century to become the robust industry it is today. In 1914, the earliest commercial airline was established, with its first passenger flight taking off in 1919.

The industry saw regulation with the Air Commerce Act of 1926, which established the Department of Commerce to oversee the industry and set standards for aircraft, pilot qualifications, and air traffic control.

The introduction of jets in the 1950s revolutionized air travel, enabling faster and more fuel-efficient flights. Deregulation in 1978 increased competition and lowered prices.

Today, airlines are investing in technologies to enhance the customer experience, focusing on safety and security. Advanced software aids in streamlining manufacturing, maintenance, and operations, unifying global processes with real-time data. This transformation has greatly impacted the airline industry, enhancing efficiency and customer focus.

The market for smart airports is projected to grow significantly by 2025. In the coming years, the airline industry will embrace the latest software trends to revolutionize operations. The upcoming blog post will delve into aviation systems requiring consistent evolution and explore top airline software solutions. Staying current with the latest software trends and solutions will enable the airline industry to evolve and thrive in a dynamic digital landscape.