Aircraft Aftermarket Parts Market Research Report: Global Industry Forecast To 2023

Overview

Aircraft Aftermarket Parts Market Size is USD 46.71 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.63% during the forecast period (2023 - 2032).

The global aircraft aftermarket parts market will grow at a CAGR of 7.63% during the forecast period 2017 to 2023. The market for aircraft aftermarket parts is set to reach decent value. As per global market analysts, the global market is anticipated to witness growth owing to the factors such as the growing fleet of commercial aircraft as well as the aging military aircraft fleets. However, the global market will face challenges and restraints due to high import duties on aircraft spare parts and stringent rules and regulations during the forecast period 2017 to 2023.

The availability of aircraft aftermarket parts on e-commerce platforms in this market will support the growth. As per aircraft aftermarket parts market analysts, the global market based companies will face certain challenges during the forecast period 2017 to 2023. The aircraft aftermarket parts market research report provides in-depth analysis of the aircraft type and parts segments. The aircraft aftermarket parts industry research report presents factors such as the cost of import duties on spare parts that could slow down the aircraft aftermarket parts market's growth.

Market Segmentation

The global market for aircraft aftermarket parts has been segmented into aircraft type and parts. Based on the segment which is parts, the market is categorized on the basis of consumable, expendable, rotatable scrap replacement parts, and MRO parts. The global market for aircraft aftermarket parts is further segmented based on aircraft type into commercial and military.

The global market report offers comprehensive study of this market segments including aircraft type and parts. The analysts have also studied the global market's spread across the regional markets across many of the market’s segments at country levels. The aircraft type and parts segments spread across the aircraft aftermarket parts market along with the subsegments are studied. The global market for aircraft aftermarket parts is spread across various product and service based segments. The aircraft aftermarket parts industry research report highlights these key segments and offers forecasts based on primary and secondary data. The global aircraft aftermarket parts market research report presents key company profiles of organizations active across this market.

Regional Overview

The strict regulations instituted by the FAA may hinder the global market growth. The aircraft aftermarket parts market research report reveals that businesses functioning in this market could be supported by the presence of old fleets of several airlines worldwide as well as the availability of parts on e-commerce platforms during the forecast period. The market for aircraft aftermarket parts is anticipated to gain a high CAGR owing to these key factors. The global market is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per aircraft aftermarket parts market analysts, the global market is set to see a healthy growth across aircraft type and parts segments. The global aircraft aftermarket parts market’s North American region covers this market across the United States, Canada, Mexico, and others. Companies present in this market are also profiled and their strategies have been presented in detail in this market research report.

The aircraft aftermarket parts market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the aircraft aftermarket parts industry research report provides details about the APAC region covering aircraft aftermarket parts markets from China, India, Australia, Japan, and others. The global market is also active across several other parts of the world. The aircraft aftermarket parts market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global market.

Competitive Landscape

Aircraft aftermarket parts have seen tremendous growth, due to the expansion of the airlines and the surge in the number of travelers. However, stringent FAA regulations and unfavorable policies would challenge organizations active in the global market. Furthermore, businesses using growth strategies to stay ahead in the global market are expected to help the market during the forecast period 2017 to 2023. As the aircraft aftermarket parts market report suggests that the global market will register a CAGR of 7.63% and reach a decent value, the market report highlights key areas aircraft aftermarket parts market-based organizations need to focus on. The aircraft aftermarket parts market research report projects a long term growth till 2023. Based on aircraft aftermarket parts market’s analysis on the basis of SWOT and Porters’ Five Force Model, the global market will rise during the forecast period 2017 to 2023, however decision makers need to move ahead with caution. The aircraft aftermarket parts industry research report highlights such key areas.

Industry News

The competitor, Jet Parts Engineering LLc, a leading Seattle-based designer and industrial aftermarket aerospace dealer, picked up AeroSpares, a proprietary plane component manufacturer in Orlando. The terms and conditions of its agreement have not been disclosed. AeroSpares President Tom Webb is innovators for the aerospace aftermarket components business, which has been endorsed by the Federal Aviation Authority, Anu Goel, president of Jet Parts. Goel also stated that the deal enhances the proprietary postmarket parts catalogue of his company for commercial and cargo industries.