Aircraft Parts Market by Parts, Material Type, Application

List of Tables

[193 Pages Report] The Aircraft Parts Market size was estimated at USD 929.16 billion in 2023 and expected to reach USD 978.87 billion in 2024, at a CAGR 5.46% to reach USD 1,348.68 billion by 2030.

The aircraft parts market encompasses the manufacturing, distribution, and aftermarket services for various components utilized in assembling, maintaining, repairing, and overhauling commercial and military aircraft. This sector includes airframe systems, avionics systems, propulsion systems, landing gear systems, interiors, and cabin elements, among other miscellaneous components. The primary application of this market is in the aerospace industry for commercial airlines, cargo carriers, charter operators, regional airlines, and military aviation. Growing demand for air travel owing to globalization and rising disposable incomes; technological advancements that enable more efficient designs with enhanced performance capabilities. The defense sector plays a significant role in global security affairs; therefore, higher expenditures on military equipment also positively impact the growth of this market. However, there are challenges faced by the aircraft parts market, including stringent regulatory compliance requirements that could hinder growth. Also, rising costs of raw materials and production of aircraft parts and potential supply chain disruptions due to geopolitical tensions or natural disasters may hamper market growth. Potential opportunities within the sector involve using eco-friendly materials driven by environmental awareness and increasing adoption of 3D printing and nanotechnology in aviation part manufacturing for cost-effective production of customized aircraft parts, which is expected to create growth opportunities in the aircraft part market.

KEY MARKET STATISTICS
Base Year [2023]	USD 929.16 billion
Estimated Year [2024]	USD 978.87 billion
Forecast Year [2030]	USD 1,348.68 billion
CAGR (%)	5.46%

Parts: Wide application of empennage for flight control and stability

Cabin interiors are crucial for enhancing passenger experience and comfort; thus, airline companies often prioritize upgrading these elements. Key components include seating, lighting, in-flight entertainment systems, and galleys. The empennage comprises the vertical and horizontal stabilizers, as well as the rudder and elevators at the tail end of an aircraft. These components are essential for flight stability and control. Engines are a vital element of an aircraft due to their role in propulsion, making them an area where airlines prefer high-quality products with fuel efficiency features. The fuselage houses the aircraft's internal components, including the cabin and cargo areas. It plays a vital role in overall structural integrity and aerodynamics. The landing gear is essential for safe takeoff and landing operations. Airlines prefer reliable and durable systems to minimize downtime due to maintenance or repair requirements. Propellers play a crucial role in regional and general aviation markets. The wings and flaps of an aircraft are essential for lift generation and flight control. Advanced wing designs can significantly improve fuel efficiency and overall performance.

Material Type: Significant demand for aluminum alloys for primary structural elements

Aluminum alloys are favored for aircraft structures due to their heightened strength-to-weight ratio, ease of fabrication, and corrosion resistance.

Carbon fibers have gained popularity in modern aircraft designs due to their exceptional strength-to-weight properties and fatigue resistance. They are widely employed in structural components such as wing spars or horizontal stabilizers. Composite materials unite two or more constituent materials to achieve enhanced characteristics such as lightness, strength, or thermal stability. Steel alloys are commonly used in high-stress aircraft parts due to their high tensile strength, toughness, and wear resistance. Titanium alloys are increasingly utilized in modern aircraft designs for their high strength-to-weight ratios, excellent corrosion resistance, and ability to withstand extreme temperatures. Material selection in the aerospace industry is dictated by specific application requirements, with aluminum alloys remaining popular for primary structures and carbon fibers and composites offering significant weight reductions without sacrificing performance. Steel alloys provide durability under harsh conditions, while titanium alloys excel in extreme environments requiring exceptional performance characteristics. As technology progresses, manufacturers continue to innovate and optimize material offerings to meet the evolving demands of the industry.

Application: Rising demand of aircraft parts on the commercial aircraft for operational efficiency and cost-effectiveness

Business aircraft primarily cater to the needs of corporations, private individuals, and charter companies. The preference for parts in this segment is usually based on providing comfort, customization options, high-quality materials, and advanced technology systems. The commercial aircraft segment includes passenger airlines and cargo carriers that prioritize operational efficiency, safety regulations compliance, fuel efficiency improvements, and cost-effective solutions when choosing aircraft parts. Military aircraft serve various purposes, such as combat, reconnaissance, surveillance, and transport for national defense forces worldwide. The demand for parts depends on mission-critical reliability, advanced technology integration, stealth capabilities, and interoperability with other defense systems. Each application segment in the market for aircraft parts has distinct preferences based on their specific needs. Business aircraft prioritize comfort and customization options; commercial aircraft focus on operational efficiency and cost-effectiveness while meeting safety regulations; military aircraft emphasize reliability under extreme conditions and technological advancements for mission success. Manufacturers continually innovate to cater to these needs while staying updated with recent industry developments, such as sustainability initiatives and pandemic-related challenges.

Regional Insights

In the Americas, the United States and Canada constitute a significant portion of the global aircraft parts market owing to their well-established aerospace industry. The region is home to major aerospace manufacturers and has witnessed demand for aircraft parts in commercial aviation, defense & security sectors. The EMEA region has also experienced considerable growth in its aircraft parts industry due to increased air passenger traffic levels and investments in modernizing commercial fleets. However, stringent regulations on carbon emissions from aviation are driving efforts toward more fuel-efficient designs or alternative propulsion systems. The Asia-Pacific region has witnessed unprecedented growth in its aircraft parts industry due to rapid economic development and rising disposable incomes, which have fueled air travel demand across countries such as China, India, and Indonesia. This surge in air traffic has led to fleet expansion by various carriers, thereby increasing the need for aircraft components such as engines, avionics systems, and interiors.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Aircraft Parts Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Aircraft Parts Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Aircraft Parts Market, highlighting leading vendors and their innovative profiles. These include A J Walter Aviation Limited, Aventure International Aviation Services, BAE Systems PLC, Bombardier Inc., Diehl Stiftung GmbH & Co. KG, Ducommun Incorporated, Eaton Corporation PLC, General Electric Company, GKN Aerospace, Griffon Aerospace, Honeywell International Inc., Indy Honeycomb, Intrex Aerospace, JAMCO Corporation, Mitsubishi Heavy Industries, Ltd., Moog Inc., Parker-Hannifin Corporation, Raytheon Technologies Corporation, Rolls-Royce Holdings plc, Safran S.A., Senior PLC, Sky Dynamics Corporation, Textron Inc., Thales Group, and The Boeing Company.

Market Segmentation & Coverage

This research report categorizes the Aircraft Parts Market to forecast the revenues and analyze trends in each of the following sub-markets:

Parts
- Cabin Interiors
- Empennage
- Engines
- Fuselage
- Landing Gear
- Propeller
- Wings & Flaps

Material Type
- Aluminum Alloy
- Carbon Fibers
- Composite Material
- Steel Alloy
- Titanium Alloy

Application
- Business Aircraft
- Commercial Aircraft
- Military Aircraft

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Aircraft Parts Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Aircraft Parts Market?

3. What are the technology trends and regulatory frameworks in the Aircraft Parts Market?

4. What is the market share of the leading vendors in the Aircraft Parts Market?

5. Which modes and strategic moves are suitable for entering the Aircraft Parts Market?

Product Code: MRR-D2073C5D8E70

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rise in disposable income and surge in number of air travelers
  - 5.1.1.2. Growing demand for light-weight and fuel-efficient aircraft
  - 5.1.1.3. Rising defense aircraft spendings across economies
- 5.1.2. Restraints
  - 5.1.2.1. Rising costs of raw materials and production of aircraft parts
- 5.1.3. Opportunities
  - 5.1.3.1. Advent of 3D printing and nanotechnology in aviation part manufacturing
  - 5.1.3.2. Advancements in raw materials and continuous development of new parts
- 5.1.4. Challenges
  - 5.1.4.1. Stringent regulatory norms and safety regulations
5.2. Market Segmentation Analysis
- 5.2.1. Parts: Wide application of empennage for flight control and stability
- 5.2.2. Material Type: Significant demand for aluminum alloys for primary structural elements
- 5.2.3. Application: Rising demand of aircraft parts on the commercial aircraft for operational efficiency and cost-effectiveness
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Aircraft Parts Market, by Parts

6.1. Introduction
6.2. Cabin Interiors
6.3. Empennage
6.4. Engines
6.5. Fuselage
6.6. Landing Gear
6.7. Propeller
6.8. Wings & Flaps

7. Aircraft Parts Market, by Material Type

7.1. Introduction
7.2. Aluminum Alloy
7.3. Carbon Fibers
7.4. Composite Material
7.5. Steel Alloy
7.6. Titanium Alloy

8. Aircraft Parts Market, by Application

8.1. Introduction
8.2. Business Aircraft
8.3. Commercial Aircraft
8.4. Military Aircraft

9. Americas Aircraft Parts Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Aircraft Parts Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Aircraft Parts Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Ethiopian Airlines and Boeing New for Collaboration Aircraft Parts
- 12.3.2. Capgemini and Aws Announce the Launch Of A Technology Platform to Improve the Lifespan of Aircraft Parts
- 12.3.3. GE Aerospace, Tata Advanced Systems extend USD 1 billion contract for aircraft engine components
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio