Aircraft Renewal Set to Impact the Global Commercial Aircraft Aftermarket Parts Market from 2014 to 2018

Aircraft aftermarket parts are mainly used for the maintenance and upgrade of an airplane through maintenance, repair, and overhaul (MRO) activities and rotable scrap replacement. Aircraft require maintenance and repair at regular intervals and a reliable supply chain of aftermarket parts to prevent AOG situations because of strict regulations pertaining to the safety of aircraft. The latest report available on ASDReports focuses on market conditions contributing to a CAGR of 4.04 percent from 2013-2018.

The report highlights an increase in the number of aircraft in service, and discusses aircraft renewal or aircraft retirement that will have a significant impact on the Global Commercial Aircraft Aftermarket Parts Market. As new-generation aircraft gradually replace older ones, spare parts will become an important profit generator for OEMs. Airlines, MRO providers and third party companies are some of the key vendors highlighted in this report.

“This trend of aircraft retirement will increase the availability of surplus parts obtained from retired vehicles. MROs will be able to use these parts in their repairs and overhauls, and it is estimated that currently about US$3 billion is being spent on surplus parts per annum. This could also transform the surplus-dealer business model as aircraft lessors enter the market to extend their businesses,” says Faisal Ghaus, Vice President of TechNavio.