Commercial Aircraft Aftermarket Parts Market
Aircraft Aftermarket Parts Market: Information by Parts (MRO Parts, Rotable Scrap Replacement Parts, Consumable, Expendable), Application (Commercial and Military), Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America)—Forecast till 2023
Aircraft Aftermarket Parts Market: Information by Parts (MRO Parts, Rotable Scrap Replacement Parts, Consumable, Expendable), Application (Commercial and Military), Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America)—Forecast till 2023
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong><br />
<strong>Market</strong> Research Report By Forecast To 2021<br />
Industry Survey, Growth, Competitive Landscape<br />
and Forecasts to 2021<br />
PREPARED BY<br />
<strong>Market</strong> Research Future<br />
(Part of Wantstats Research & Media Pvt. Ltd.)
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> Research Report - Forecast to 2021<br />
Global <strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> by <strong>Parts</strong> (MRO parts and Rotable Scarp Replacement<br />
<strong>Parts</strong>), by <strong>Aircraft</strong> Type (Wide body <strong>Aircraft</strong>, Narrow body <strong>Aircraft</strong>, and Regional Jet), by Geography -<br />
Forecast To 2021<br />
The global commercial aircraft aftermarket parts market is growing with the rapid pace. According to a recent study report<br />
published by the <strong>Market</strong> Research Future, The global market of commercial aircraft aftermarket parts will grow at a rapid<br />
pace over the forecast period. The market is forecasted to witness slow but steady growth by 2021, which will be a surplus<br />
growth at a moderate CAGR during the projected period (2016 -2021).<br />
The high demand for commercial aircraft aftermarket parts is due to the growth in the aircraft component industry. An<br />
aircraft aftermarket parts are mainly used in the maintenance and upgrade activity on an airplane after it is manufactured.<br />
<strong>Aftermarket</strong> parts are mainly utilized for MRO activities and also as rotable scrap replacement. <strong>Aftermarket</strong> parts are<br />
manufactured by the original equipment manufacturers (OEMs) as well as the parts manufacturer approval (PMA) vendors.<br />
However the delay in customs clearance for aircraft spare parts and high import duties on value-added taxes for aircraft<br />
spare parts acts as a barrier for the growth of commercial aircraft aftermarket parts market.<br />
The commercial aircraft aftermarket is completely dependent on the growth of aircrafts in service. Thus, the increasing or<br />
decreasing demand of the aircraft service directly has an impact on the market. To support the spare part requirement for<br />
their fleet, airlines usually maintain inventory of aircraft spare parts to prevent AOG situations which costs thousands of<br />
dollars per hour. MRO providers and Third Party Companies which are a part of aircraft aftermarket parts industry also<br />
maintain inventory of such parts. Another factor responsible for the increase in commercial aircraft aftermarket parts is the<br />
growing involvement of OEMs providing total carehttps://www.marketresearchfuture.com/reports/commercial-aircraftaftermarket-parts-market-1382<br />
programs to attract customers towards them and capture a share of this lucrative market<br />
has also supported the growth in the market. This is the primary factor that drives the growth of the commercial aircraft<br />
aftermarket parts market and has gained prevalence in the recent times, rise in global online aviation spare parts platform.<br />
Thus, the growth of the commercial aircraft aftermarket parts market is expected to go hand in hand with the growth of<br />
aircraft industry.<br />
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> Research Report - Forecast to 2021<br />
Global <strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> ($ billion), 2016-2021
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> Research Report - Forecast to 2021<br />
Despite the challenges, the market is expected to continue growing in the future. One of the trends helping this is the<br />
renewal of aircraft fleet. Hundreds of older aircrafts are being retired every year globally and replaced with new and<br />
efficient fleet. This has increased the availability of surplus parts in the market obtained from retired aircrafts. This opens up<br />
new opportunities for all the players in this market. Similarly, PMA vendors are also gaining more acceptance globally as the<br />
providers of aftermarket parts. Due to the opportunities for growth in the market, and cost advantages of PMA parts, they<br />
will continue to make a presence in the market.<br />
Similarly, there has been a trend of market consolidation in this sector and it is likely to increase with the formation of larger<br />
companies with broader offerings. Bigger and diverse companies can provide better services at larger scale. There were<br />
about 1,700 commercial jets retirements in the 1990s. Due to the high fuel prices, fleet demographics and new efficient<br />
aircrafts and engines, this number is estimated to reach about 6,000 - 8,000 this decade. This magnitude of retirements for<br />
aircrafts will have a significant impact on the aircraft aftermarket parts market.<br />
Industry/ Innovation/ Related News:<br />
February, 2018 – Pratt & Whitney signed 15 year EngineWise fleet management agreement with Turkish airlines. The<br />
agreement will cover Turkish Airlines' future fleet of 92 A321neo aircraft powered by the Pratt & Whitney Geared<br />
Turbofan (GTF) engines.<br />
October, 2016 – Rockwell Collins announced new service contract to repair Rockwell Collins systems on board a critical<br />
transport aircraft, an enhanced aircraft connectivity advancement, in addition to a new aftermarket upgrade for its<br />
MultiScan weather radar.<br />
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> Research Report - Forecast to 2021<br />
<strong>Market</strong> Segmentation of Global <strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong>
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> Research Report - Forecast to 2021<br />
<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> – Segmentation<br />
The global commercial aircraft aftermarket parts market is segmented in to 3 key dynamics for the convenience of the<br />
report and enhanced understanding;<br />
Segmentation by <strong>Parts</strong> : Comprises MRO parts and Rotable Scrap Replacement <strong>Parts</strong><br />
Segmentation by <strong>Aircraft</strong> Type : Comprises Wide body <strong>Aircraft</strong>, Narrow body <strong>Aircraft</strong> and Regional Jet<br />
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and<br />
Rest of the World.<br />
<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> – Regional Analysis<br />
European market is dominating the market of commercial aircraft aftermarket parts market due to higher share of wide<br />
body aircrafts in their fleet. Thus, as the aircraft fleet grow globally, so does the requirement for aftermarket parts for those<br />
aircrafts.<br />
Asia-Pacific is referred to as the second-largest commercial aircraft aftermarket parts market due to factors such as growth<br />
in aircraft fleet have fuelled the demand for aircraft aftermarket parts market.<br />
Report Sample @ https://www.marketresearchfuture.com/sample_request/1382
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<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> Research Report - Forecast to 2021<br />
<strong>Commercial</strong> <strong>Aircraft</strong> <strong>Aftermarket</strong> <strong>Parts</strong> <strong>Market</strong> – Key Players<br />
AAR, Eaton, General electric, Honeywell International, Rockwell Collins, AJW aviation, avail, BE aerospace, BF Goodrich,<br />
Meggitt, Parker-Hannifin, and Pratt& Whitney and others are some of the prominent players profiled in MRFR Analysis and<br />
are at the forefront of competition in the global commercial aircraft aftermarket parts market.<br />
Browse Report@ https://www.marketresearchfuture.com/reports/commercial-aircraft-aftermarket-partsmarket-1382
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