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Commercial Aircraft Aftermarket Parts Industry 2019Description:-
There is no doubt that that the Commercial Aircraft Aftermarket Parts market is quite competitive. Different companies who are involved in this market provide products and services for the maintenance and repair of various aircraft. The global aircraft industry is now growing, and this is expected to drive the growth of the Commercial Aircraft Aftermarket Parts market.
On the other hand, the strict rules and regulations related to safe aircraft operations have made the operators give more importance to the maintenance and repair of aircraft, which motivates market growth.
The global commercial aircraft aftermarket parts market size is estimated to reach USD 51.14 billion by 2026 growing at a CAGR of 6.6% during the forecast period.
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Segmentation of the Global Market
The Global Commercial Aircraft Aftermarket Parts market can be segmented by Aircraft Type, Component Type, Parts and Region.
Based on the aircraft type, the entire market can be split into Narrow-body, Regional Jet, Wide-body, and Others. Coming to component type, there are interior, engine, cockpit system, airframe, and other major component types. Based on parts, it can be divided into Rotatable Replacement parts, MRO parts and more.
Geographical Market Segmentation of the Market
The geographical segmentation of this market includes a lot of major regions or countries which are greatly influencing the World Commercial Aircraft Aftermarket Parts market. The regions/countries are U.S., Canada, North America, Germany, UK, Europe, France, Spain, Italy, Belgium, Netherland, Russia, Rest of Europe, China, Japan, India, Korea, Indonesia, Thailand, Singapore, Malaysia, Philippines, Rest of Asia Pacific, Brazil, Mexico, Latin America, Argentina, Rest of LATAM, Middle East and Africa, Saudi Arabia, UAE, South Africa, and Rest of MEA.
In the year 2017, North America witnessed maximum revenue in the market. Factors like increasing air traffic, investment in Research and Development, technological advancement, etc. are expected to help the market to grow in this region during the forecast period. In the next position, there will be the Asia Pacific. The primary reason is top market players from this region are trying to expand their businesses to other countries.
Top Market Players in this Market
To accurately evaluate the future growth of the global market, it is quite essential to consider the growth rate and revenue earned by the major companies. So, the major and top companies which are included in this report are LKD Aerospace, Pratt & Whitney, B/E Aerospace, Inc., Aventure International Aviation Services, Atlantis Systems Corp., A J Walter Aviation Limited, General Electric Company, BF Goodrich, Rockwell Collins, and Honeywell International.
Talking more about it, the companies are now launching products consistently in the market to boost their offering in the global market. On the other side, advanced technology has helped the companies to introduce customized products to the customers. Some leading firms have started acquiring some companies to expand their base. Acquisitions enable the companies to enjoy better geographic ad customer base expansion.
Latest News
In June 2018, LKD Aerospace received third-party certification to AS9100D. As per the report, the new AS9100D accreditation applies to all design, manufacturing, logistics, and distribution activities at the company and Gladiator Technologies unit. It may be noted that there are only 115 firms in Washington who have received AS9100D certification.
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