Market Size of Commercial Aircraft Aftermarket Parts Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Commercial Aircraft Aftermarket Parts Market Analysis
The commercial aircraft aftermarket parts market is expected to witness a CAGR of over 4% during the forecast period.
- Due to the COVID-19 pandemic, several airlines were forced to retire their aircraft earlier to reduce operating costs. This allowed a higher availability of rotatable and used serviceable material (USM) parts in the inventory, which re-entered the market supply chain through parts manufacturer approval (PMA) holders and unified-management -system USM providers.
- The growth in the commercial aircraft fleet and the need for timely maintenance, repair, and overhaul (MRO) services to maintain the airworthiness of the aircraft and ensure optimum performance is expected to bolster the market prospects during the forecast period. The competition in the market is also expected to grow as the OEMs are actively participating in the market and have the advantage of maintaining an inventory of parts by buying back retired aircraft from airlines and using those as the source of parts for other active aircraft.
- For instance, the Boeing Company entered the USM market in 2019 to offer its customers parts at lower prices while maintaining a constant supply chain for aircraft manufactured by Boeing and its rival Airbus.
