Aircraft Aftermarket Parts Market Forecasts to 2030 - Global Analysis By Part Type, Aircraft Type, Service Type, Material, Application, End User and By Geography

According to Stratistics MRC, the Global Aircraft Aftermarket Parts Market is accounted for $48.82 billion in 2024 and is expected to reach $90.78 billion by 2030 growing at a CAGR of 10.5% during the forecast period. Aircraft aftermarket parts refer to components and assemblies that are sold after the original sale of the aircraft. These parts can include replacement, repair, or refurbished items and are critical for maintaining the safety, efficiency, and reliability of aircraft operations. Aftermarket parts may be manufactured by third-party suppliers or can be surplus parts from the original equipment manufacturer (OEM). The aftermarket sector plays a significant role in the aviation industry, providing options for cost-effective maintenance and supporting the longevity of aircraft throughout their operational lifespan.

According to a report by Purnea University, in 2022 the world expends $2.0 trillion amount on defense aircraft.

Market Dynamics:

Driver:

Aging aircraft fleet

As aircraft age, their components naturally experience wear and tear, necessitating the replacement of parts to ensure safety and operational efficiency. Airlines are compelled to invest in aftermarket parts to comply with stringent safety regulations and minimize downtime. Additionally, older aircraft may require specialized parts that are no longer in production, prompting operators to seek aftermarket solutions from suppliers, thereby driving market growth as airlines focus on maintaining their fleets for optimal performance.

Restraint:

Complex regulations and certification processes

Complex regulations and certification processes in the aircraft aftermarket parts arise from stringent safety and quality standards mandated by aviation authorities. These regulations ensure that all parts meet rigorous performance criteria to maintain aircraft safety and reliability. However, the intricate nature of these processes can delay the introduction of new aftermarket products and increase compliance costs for manufacturers and suppliers. Additionally, navigating these regulations can be time-consuming and resource-intensive, ultimately hampering the market growth.

Opportunity:

Growing air travel demand

With airlines transporting more passengers and cargo, they expand their fleets to meet growing capacity demands, which in turn increases the need for maintenance and repair services. This rise in operational aircraft necessitates regular replacement and servicing of components, boosting the demand for aftermarket parts. Furthermore, airlines aim to enhance fleet performance and reliability to improve customer satisfaction, leading to greater investments in maintenance. Given the rising travel demand, airlines emphasize the importance of having quality aftermarket parts available to ensure safety and compliance, thereby further driving market growth.

Threat:

Technological obsolescence

Technological obsolescence in aircraft aftermarket parts occurs as advancements in aviation technology render older components outdated or less efficient. This rapid pace of innovation can lead to decreased demand for certain aftermarket parts, as airlines prefer newer, more efficient alternatives that enhance performance and fuel efficiency. This shift can hinder market growth by limiting the lifespan and relevance of existing aftermarket parts, ultimately discouraging investment and innovation in the sector.

Covid-19 Impact

The covid-19 pandemic significantly impacted the aircraft aftermarket parts market, leading to reduced air travel and airline revenue. This resulted in decreased demand for maintenance, repair, and overhaul (MRO) services, as airlines grounded fleets and postponed scheduled maintenance. Supply chain disruptions also hindered the availability of parts, causing delays in repairs. However, the market is gradually recovering as travel demand rebounds, prompting airlines to resume maintenance activities and invest in aftermarket parts to ensure fleet safety and compliance.

The upgrades/modifications segment is expected to be the largest during the forecast period

The upgrades/modifications segment is predicted to secure the largest market share throughout the forecast period owing to its enhanced aircraft performance, safety, and efficiency. It includes advanced avionics, upgraded engines, and structural modifications to meet evolving regulations and operational demands. Airlines and operators invest in aftermarket upgrades to improve fuel efficiency, reduce maintenance costs, and extend the lifespan of their fleets.

The maintenance, repair, and overhaul (MRO) facilities segment is expected to have the highest CAGR during the forecast period

The maintenance, repair, and overhaul (MRO) facilities segment is anticipated to witness the highest CAGR during the forecast period. MRO facilities focus on providing essential components and systems required for the upkeep and servicing of aircraft. These parts enable efficient repairs, minimize downtime, and enhance aircraft performance. The demand for aftermarket parts in MRO applications is driven by increasing air travel, aging fleets, and the need for cost-effective maintenance solutions.

Region with largest share:

Asia Pacific is expected to register the largest market share during the forecast period due to rising air travel demand, expanding airline fleets, and increasing investments in aviation infrastructure. Countries like China, India, and Japan are key players, with a focus on maintaining aging aircraft and enhancing operational efficiency. Additionally, the region benefits from technological advancements and partnerships with global suppliers. Overall, the Asia-Pacific market presents substantial opportunities as the aviation sector recovers and evolves post-pandemic.

Region with highest CAGR:

North America is projected to witness the highest CAGR over the forecast period driven by a large and mature aviation industry, including commercial airlines, cargo carriers, and military operators. The region benefits from a high volume of aircraft maintenance, repair, and overhaul (MRO) activities due to the aging fleet and stringent safety regulations. Additionally, the recovery of air travel post-COVID-19 is boosting demand, positioning North America as a key market in the global aerospace sector.

Key players in the market

Some of the key players profiled in the Aircraft Aftermarket Parts Market include Collins Aerospace, Honeywell Aerospace, Boeing Global Services, GE Aviation, Airbus S.A.S., Lufthansa Technik AG, Bombardier Inc., Pratt & Whitney, Safran S.A., Parker Hannifin Corporation, Eaton Aerospace, Rolls-Royce Holdings PLC, SIA Engineering Company, SR Technics, Sabena Technics, MTU Aero Engines AG, StandardAero, Spirit AeroSystems, Delta TechOps and AAR Corporation.

Key Developments:

In October 2024, Airbus announced enhancements to its Skywise Fleet Performance+ (SFP+) predictive maintenance platform. This upgrade is part of the Digital Alliance for Aviation, which aims to improve maintenance efficiency across various aircraft systems. The new features, powered by AI and machine learning, allow for better monitoring of critical components like air conditioning and landing gear systems.

In October 2024, Honeywell announced an end-to-end digital maintenance solution specifically designed for Honeywell business jet turbofan engines. Ensemble automatically collects and transmits engine data for near-real-time analysis. This service detects potential issues proactively, thereby minimizing disruptions and enhancing aircraft uptime.

Part Types Covered:

• Airframe Parts
• Engine Parts
• Landing Gear Parts
• Avionics Parts
• Electrical Parts
• Interior Parts
• Control Surfaces
• Other Part Types

Aircraft Types Covered:

• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
• Other Aircraft Types

Service Types Covered:

• Repair
• Replacement
• Upgrades/Modifications
• Other Service Types

Materials Covered:

• Metals
• Composites
• Alloys
• Other Materials

Applications Covered:

• Routine Maintenance
• Unscheduled Maintenance
• Pre-Flight Inspections
• Other Applications

End Users Covered:

• Cargo Operators
• Maintenance, Repair, and Overhaul (MRO) Facilities
• Military Organizations
• Private Operators
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances