Crane Aerospace Aftermarket, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

PUBLISHED: August 28, 2024

PAGES: 290 Pages

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Description

The Global Crane Aerospace Aftermarket was valued at USD 373.77 million in 2023. Projections indicate a CAGR of over 5.5% from 2024 to 2032, driven by a focus on defense aviation and strategic investments in military fleet maintenance and upgrades.

Airlines aiming to extend aircraft lifespans increase the demand for aftermarket components. This demand includes new and refurbished parts, maintenance tools, and support services. A larger fleet requires more parts, allowing service providers to offer tailored solutions, enhancing aviation efficiency and reliability. Market players recognize the importance of investing in commercial aircraft MRO infrastructure.

Technological advancements in aeronautics have increased the need for updated or replacement parts. Innovations like efficient engines, enhanced avionics, and superior materials improve aircraft performance, fuel efficiency, and safety. As new technologies emerge, older components become obsolete, requiring replacements to maintain optimal performance. This ongoing evolution in aerospace technology creates a steady demand for aftermarket parts, ensuring aircraft meet current operational standards. Companies are enhancing their technological capabilities to stay competitive.

The overall crane aerospace aftermarket is classified based on product, cranes, sales channel, application, and region.

In 2023, the replacement parts segment was valued at over USD 270 million, driven by the demand for replacement parts essential for vehicle performance. Components like gears, shafts, control systems, motors, and brakes are crucial for efficiency and safety. The need for these parts grows with vehicle age, driven by a desire for long-term reliability and effective maintenance. Regular updates and repairs are necessary for operational excellence, emphasizing high-quality replacement parts.

From 2024 to 2032, the commercial aviation segment is projected to witness a CAGR exceeding 4.5%. Crane aerospace aftermarket provides essential equipment and services to maintain aircraft performance, safety, and efficiency throughout their operational lifespan, meeting the aviation sector's stringent standards.

In 2023, North America led the global crane aerospace aftermarket, capturing over 35% of the revenue share. This dominance is due to the region's robust military and commercial aviation sectors. The U.S. focuses on air superiority and modernizing aging fleets, driving demand for advanced MRO services. Digitalization, including AI and IoT for predictive maintenance, reduces operational costs and extends aerospace components' lifespan. Market players are developing innovative power solutions to meet the aerospace and defense sectors' growing demands.

Product Code: 11066

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360-degree synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Component provider
- 3.2.2 Manufacturers
- 3.2.3 Service provider
- 3.2.4 Distribution channel
- 3.2.5 End users
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Increasing the demand for replacement parts and maintenance
  - 3.8.1.2 Technological advancements in aerospace systems
  - 3.8.1.3 Stringent safety regulations necessitating regular inspections and part replacements
  - 3.8.1.4 Expansion of air travel in emerging markets
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 Cost management
  - 3.8.2.2 Increasing market competition
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2032 ($Bn, Units)

5.1 Key trends
5.2 Replacement parts
- 5.2.1 Gears
- 5.2.2 Shafts
- 5.2.3 Control system
  - 5.2.3.1 Electronic controls
  - 5.2.3.2 Manual controls
  - 5.2.3.3 Hydraulic controls
  - 5.2.3.4 Wireless controls
  - 5.2.3.5 Automated control systems
  - 5.2.3.6 Others
- 5.2.4 Motors
- 5.2.5 Brakes
  - 5.2.5.1 Disc brakes
  - 5.2.5.2 Hydraulic brake systems
  - 5.2.5.3 Electric brake systems
  - 5.2.5.4 Brake control modules
  - 5.2.5.5 Others
- 5.2.6 Others
5.3 Service

Chapter 6 Market Estimates and Forecast, By Cranes, 2021 - 2032 ($Bn, Units)

6.1 Key trends
6.2 Overhead cranes
- 6.2.1 Replacement parts
  - 6.2.1.1 Gears
  - 6.2.1.2 Shafts
  - 6.2.1.3 Control system
    - 6.2.1.3.1 Electronic controls
    - 6.2.1.3.2 Manual controls
    - 6.2.1.3.3 Hydraulic controls
    - 6.2.1.3.4 Wireless controls
    - 6.2.1.3.5 Automated control systems
    - 6.2.1.3.6 Others
  - 6.2.1.4 Motors
  - 6.2.1.5 Brakes
    - 6.2.1.5.1 Disc brakes
    - 6.2.1.5.2 Hydraulic brake systems
    - 6.2.1.5.3 Electric brake systems
    - 6.2.1.5.4 Brake control modules
    - 6.2.1.5.5 Others
  - 6.2.1.6 Others
- 6.2.2 Service
6.3 Gantry cranes
- 6.3.1 Replacement parts
  - 6.3.1.1 Gears
  - 6.3.1.2 Shafts
  - 6.3.1.3 Control system
    - 6.3.1.3.1 Electronic controls
    - 6.3.1.3.2 Manual controls
    - 6.3.1.3.3 Hydraulic controls
    - 6.3.1.3.4 Wireless controls
    - 6.3.1.3.5 Automated control systems
    - 6.3.1.3.6 Others
  - 6.3.1.4 Motors
  - 6.3.1.5 Brakes
    - 6.3.1.5.1 Disc brakes
    - 6.3.1.5.2 Hydraulic brake systems
    - 6.3.1.5.3 Electric brake systems
    - 6.3.1.5.4 Brake control modules
    - 6.3.1.5.5 Others
  - 6.3.1.6 Others
- 6.3.2 Service
6.4 Mobile cranes
- 6.4.1 Replacement parts
  - 6.4.1.1 Gears
  - 6.4.1.2 Shafts
  - 6.4.1.3 Control system
    - 6.4.1.3.1 Electronic controls
    - 6.4.1.3.2 Manual controls
    - 6.4.1.3.3 Hydraulic controls
    - 6.4.1.3.4 Wireless controls
    - 6.4.1.3.5 Automated control systems
    - 6.4.1.3.6 Others
  - 6.4.1.4 Motors
  - 6.4.1.5 Brakes
    - 6.4.1.5.1 Disc brakes
    - 6.4.1.5.2 Hydraulic brake systems
    - 6.4.1.5.3 Electric brake systems
    - 6.4.1.5.4 Brake control modules
    - 6.4.1.5.5 Others
  - 6.4.1.6 Others
- 6.4.2 Service
6.5 Others
- 6.5.1 Replacement parts
  - 6.5.1.1 Gears
  - 6.5.1.2 Shafts
  - 6.5.1.3 Control system
    - 6.5.1.3.1 Electronic controls
    - 6.5.1.3.2 Manual controls
    - 6.5.1.3.3 Hydraulic controls
    - 6.5.1.3.4 Wireless controls
    - 6.5.1.3.5 Automated control systems
    - 6.5.1.3.6 Others
  - 6.5.1.4 Motors
  - 6.5.1.5 Brakes
    - 6.5.1.5.1 Disc brakes
    - 6.5.1.5.2 Hydraulic brake systems
    - 6.5.1.5.3 Electric brake systems
    - 6.5.1.5.4 Brake control modules
    - 6.5.1.5.5 Others
  - 6.5.1.6 Others
- 6.5.2 Service

Chapter 7 Market Estimates and Forecast, By Sales Channel, 2021 - 2032 ($Bn, Units)

7.1 Key trends
7.2 OEMs
7.3 Third party provider

Chapter 8 Market Estimates and Forecast, By Application, 2021 - 2032 ($Bn, Units)

8.1 Key trends
8.2 Commercial aviation
8.3 Military aviation
8.4 General aviation

Chapter 9 Market Estimates and Forecast, By Region, 2021 - 2032 ($Bn, Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA