Commercial Aircraft Aftermarket Parts Market Size (2024 - 2029)

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).