Commercial Aircraft Aftermarket Parts Market Scope
The aircraft aftermarket parts are mostly used in the maintenance and renovation activity on an airplane after it is manufactured. Aircrafts needs the parts as it remain in service for many years, and also due to the strict regulations, which needs to be maintained and repaired at several intervals and it requires a reliable supply chain of aftermarket parts to prevent Aircraft on Ground (AOG) situations. Aftermarket parts are mainly utilized for MRO activities and also as Rotable Scrap Replacement. Aftermarket parts are manufactured by the Original Equipment Manufacturers (OEMs).
The players are focusing on expansion of their businesses by planning innovative initiatives such as mergers and acquisitions, increased research and development activities, increased investment for outsourcing various processes and advanced product portfolio in order to sustain the competition in the global commercial aircraft aftermarket parts market. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Commercial Aircraft Aftermarket Parts market throughout the predicted period.
AAR (United States), A.J. Walter Aviation Limited (United Kingdom), Aviall (United States), Eaton (Ireland), GE AVIATION (United States), Honeywell International Inc. (United States), Meggitt PLC (England), Parker Hannifin Corporation (United States), Meggitt PLC (United Kingdom), Collins Aerospace (United States), Kellstrom Aerospace (United States) and BE aerospace (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Commercial Aircraft Aftermarket Parts market by Type (MRO Parts, Rotable Scrap Replacement Parts and Other), by Application (Commercial Aircrafts and Military Aircrafts) and Region with country level break-up.
On the basis of geography, the market of Commercial Aircraft Aftermarket Parts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Introduction of 3D Printing Technology and Rising alternatives to OEMs
Market Growth Drivers:
Increase in Inventory Costs of Spare Parts for the Airlines and Growing Use of Narrow-Body Aircrafts
Challenges:
Failure of Aircraft Deliveries
Restraints:
Large OEMs Have Monopoly on Aftermarket Business and High Cost of Fleet Replacement
Opportunities:
Growing Fleet of Commercial Aircraft and Aging Military Aircraft Fleets, Increase in Number of Aircraft and Rising Demand for Air Travel in Emerging Economies
Market Leaders and their Expansionary Development Strategies
On April 8, 2019 BASF and AAR have signed an agreement to serve the aircraft ozone and Volatile Organic Compounds (VOC) converter market which will provide improved airplane cabin air quality and healthier conditions for passengers and crew. The collaboration of the two industry leaders BASF and AAR will extend the availability of Deoxo ozone and ozone/VOC converters and better service customers around the world. and On March 9, 2019 AJW Group has announced an expansion to its spares support services with Latvian charter airline, SmartLynx Airlines.
On APRIL 9, 2019 Boeing announced it has expanded supply chain offerings with Used Serviceable Material Capability (USM). USM provides customers with a convenient and cost-efficient alternative to brand-new parts, offering high-quality recertified parts harvested from retired aircraft.
Key Target Audience
Manufacturers of Aircraft, Suppliers of Aircraft Parts, Wholesalers, Distributors and Retailers of Aircraft Parts, Aerospace Industry and Governmental Bodies
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.