(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "Commercial Aircraft Aftermarket Parts Market Report by Component Type (Engine, Airframe, Interior, and Others), Parts (Maintenance Repair and Operation Parts (MRO), Rotable Replacement Parts), Aircraft Type (Narrow-body, Wide-body, Regional Jet), and Region 2024-2032" report has been added to ResearchAndMarkets's offering. The global commercial aircraft aftermarket parts market, a critical sector in aviation maintenance, repair, and operations, is experiencing robust growth. A recent comprehensive analysis reveals that this market, valued at US$ 42.0 Billion in 2023, is projected to expand to US$ 69.5 Billion by 2032, exhibiting a CAGR of 5.8% during the forecast period. Key growth drivers include increasing air travel demand, the advent of aircraft leasing, and stringent aviation regulations, supporting the market's strong performance.
The report details various segments within the market, such as component type, including engine, airframe, and interior components, with engines holding the most significant market share. In terms of parts, the Maintenance Repair and Operation (MRO) segment dominates the market share. The market study also breaks down the data by aircraft type, with narrow-body aircraft representing the largest portion of the market.
Regional Analysis
On a geographical level, the analysis provides detailed insights into several key markets, including North America, which is leading the charge due to factors such as heightened air travel and strict regulatory frameworks governing aircraft maintenance. The Asia Pacific and European regions also show significant market activity, contributing to the global sector's expansion.
Competitive Landscape
The competitive landscape is thoroughly analyzed, highlighting essential players in the market, such as A J Walter Aviation Limited, AAR Corp., and The Boeing Company. The report underscores the companies' efforts to innovate and cater to the evolving technological needs of the aviation industry, which is instrumental in propelling the market forward.
The comprehensive report clarifies the current state of the market and provides projections and analysis that can help stakeholders make informed decisions. Continuous advancements in technology, a focus on cost reductions among airline carriers, and a shift towards e-commerce for the procurement of parts are all factors further stimulating the growth of the commercial aircraft aftermarket parts market globally.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (US$) in 2023 | US$42 Billion |
| Forecasted Market Value (US$) by 2032 | US$69.5 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Companies Featured
A J Walter Aviation Limited AAR Corp. Aventure International Aviation Services LLC Bombardier Inc General Electric Company GKN Aerospace (Melrose Industries) Honeywell International Inc. Moog Inc. Raytheon Technologies Corporation The Boeing Company
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Attachment
Commercial Aircraft AfterMarket
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