The global aircraft aftermarket parts market size is expected to gain momentum by reaching USD 93.52 billion by 2032 while exhibiting a CAGR of 8.5% between 2024 and 2032. This information is published by Fortune Business Insights in its latest report, titled, “Aircraft Aftermarket Parts Market, 2024-2032.”  The report further mentions that the market stood at USD 42.94 billion in 2023. Factors such as the increasing number of phasing out of the aging aircraft and the estimated growth in air travel in near future is expected to favor the product’s demand. For instance, according to Airbus SAS, the growth of the passenger fleets will double from 21,000 aircraft in 2019 to 45,000 by 2035 due to the rising air travel worldwide.

Informational Source:

https://www.fortunebusinessinsights.com/aircraft-aftermarket-parts-market-105451

What does the Report include?

The global market for aviation PMO parts report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

List of the Companies Profiled in the Global Market for Aircraft AfterMarket Parts Market:

• The Boeing Company (The US)
• Collins Aerospace (The US)
• Honeywell International Inc. (The US)
• General Electric Company (The US)
• Eaton Technologies (The US)
• Meggitt PLC (The UK)
• UTC Aerospace Systems (The US)
• AJW Group (The UK)

Market Segmentation:

Based on parts type, the market is bifurcated into MRO parts and rotable replacement parts.

• Based on parts type, the MRO parts segment held a market share of about 66.9% and is expected to dominate during the forecast period. This is due to increasing demand for maintenance of next-generation aircraft worldwide.

On the basis of component type, the market is categorized into engine, airframe, interior, cockpit systems, and others. Moreover, on the basis of platform, the market is segmented into narrow-body, wide-body, and regional aircraft. Lastly, on the basis of region, the market is divided into Rest of the World, Asia-Pacific, North America, and Europe.