Commercial Aircraft Aftermarket Parts Market Size (2024 - 2029)

The commercial aircraft aftermarket parts market is poised for growth, driven by the increasing demand for maintenance, repair, and overhaul services to ensure aircraft airworthiness and performance. The market size is influenced by the availability of used serviceable material and rotatable parts, which have surged due to airlines retiring aircraft to cut costs during the pandemic. This influx of parts has been integrated into the supply chain through approved manufacturers and management systems. Additionally, original equipment manufacturers are intensifying competition by leveraging retired aircraft for parts, thereby enhancing their market share and supply chain efficiency.

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Market Size of Commercial Aircraft Aftermarket Parts Industry

Commercial Aircraft Aftermarket Parts Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 43.08 Billion
Market Size (2029) USD 56.55 Billion
CAGR (2024 - 2029) 5.59 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Commercial Aircraft Aftermarket Parts Market Major Players

*Disclaimer: Major Players sorted in no particular order

Commercial Aircraft Aftermarket Parts Market Analysis

The Commercial Aircraft Aftermarket Parts Market size is estimated at USD 43.08 billion in 2024, and is expected to reach USD 56.55 billion by 2029, growing at a CAGR of 5.59% during the forecast period (2024-2029).

The global air travel industry, particularly in emerging markets, is witnessing sustained growth. This surge in activity translates to heightened aircraft utilization, subsequently accelerating wear and tear on aircraft components. As a result, the demand for replacement parts is on the rise. With an expanding commercial aircraft fleet, timely maintenance, repair, and overhaul (MRO) services are paramount. These services ensure the aircraft's airworthiness and optimize its performance, thereby enhancing market prospects. Market competition is intensifying, notably with OEMs playing an active role. OEMs have a strategic edge, often replenishing their parts inventory by repurchasing retired aircraft from airlines and repurposing these parts for active aircraft.

Moreover, stringent safety and regulatory mandates underscore the importance of regular maintenance and part replacements, further fueling the demand for aftermarket parts. Heightened concerns about maintenance delays, potentially leading to aviation accidents, are compelling aircraft operators to prioritize prompt repairs for damaged parts. These dynamics are expected to collectively propel the market's growth trajectory over the coming years.

Commercial Aircraft Aftermarket Parts Industry Segmentation

The commercial aircraft aftermarket parts market encompasses the production, remanufacturing, distribution, retail, and installation of replacement parts, equipment, and accessories. While these components are not necessarily from the original equipment manufacturer (OEM), they fall into two main categories: replacement parts, which focus on performance, and accessories, which cater to customization.

The commercial aircraft aftermarket parts market is segmented by aircraft type, component type, parts, and geography. By aircraft type, the market is segmented into narrow-body, wide-body, and regional jets. By component type, the market is segmented into airframe, engine, interior, and other component types. By parts, the market is segmented into MRO parts and rotable replacement parts. The report also covers the sizes and forecasts for the commercial aircraft aftermarket parts market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Aircraft Type
Narrow-body
Wide-body
Regional Jet
Component Type
Airframe
Engine
Interior
Other Component Types
Parts
MRO Parts
Rotable Replacement Parts
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Egypt
Rest of Middle East and Africa
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Commercial Aircraft Aftermarket Parts Market Size Summary

The commercial aircraft aftermarket parts market is poised for growth, driven by the expansion of the commercial aircraft fleet and the increasing need for maintenance, repair, and overhaul (MRO) services. The market dynamics have been influenced by the COVID-19 pandemic, which led to the early retirement of aircraft, thereby increasing the availability of rotatable and used serviceable material (USM) parts. These parts have re-entered the supply chain through parts manufacturer approval (PMA) holders and unified-management-system USM providers. The competition in the market is intensifying as original equipment manufacturers (OEMs) actively participate by maintaining inventories through the acquisition of retired aircraft. This strategic move allows them to supply parts for active aircraft, enhancing their market position. The dominance of narrow-body aircraft, which offer better range capability and efficiency, is expected to further drive the demand for aftermarket parts, particularly as airlines expand their connectivity and introduce new routes.

The Asia-Pacific region is a significant player in the commercial aircraft aftermarket parts market, with a substantial share and anticipated growth. The region's airlines have been expanding their fleets to meet the rising demand for air travel, particularly in countries like India, China, and Vietnam. This expansion has led to an increase in the average fleet age, subsequently boosting the demand for aftermarket parts as more aircraft undergo maintenance and part replacements. Major industry players, including Boeing, have strengthened their presence in the region through collaborations and supply chain agreements, which are expected to drive market growth. The market is characterized by fragmentation, with numerous players offering various parts and components. Leading OEM suppliers are consolidating the market by acquiring local suppliers and focusing on innovative initiatives, investments, and customized packages to meet customer needs, thereby enhancing their competitive edge.

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Commercial Aircraft Aftermarket Parts Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Aircraft Type

      1. 2.1.1 Narrow-body

      2. 2.1.2 Wide-body

      3. 2.1.3 Regional Jet

    2. 2.2 Component Type

      1. 2.2.1 Airframe

      2. 2.2.2 Engine

      3. 2.2.3 Interior

      4. 2.2.4 Other Component Types

    3. 2.3 Parts

      1. 2.3.1 MRO Parts

      2. 2.3.2 Rotable Replacement Parts

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

      2. 2.4.2 Europe

        1. 2.4.2.1 United Kingdom

        2. 2.4.2.2 France

        3. 2.4.2.3 Germany

        4. 2.4.2.4 Russia

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 India

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Latin America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Mexico

        3. 2.4.4.3 Rest of Latin America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 United Arab Emirates

        3. 2.4.5.3 Egypt

        4. 2.4.5.4 Rest of Middle East and Africa

Commercial Aircraft Aftermarket Parts Market Size FAQs

The Commercial Aircraft Aftermarket Parts Market size is expected to reach USD 43.08 billion in 2024 and grow at a CAGR of 5.59% to reach USD 56.55 billion by 2029.

In 2024, the Commercial Aircraft Aftermarket Parts Market size is expected to reach USD 43.08 billion.

Commercial Aviation Aftermarket Parts Market Report Snapshots

Commercial Aircraft Aftermarket Parts Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)