Aircraft Parts Market, By Parts, By Material Type, By Aircraft Type, By Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2021

The aircraft components have evolved largely to make a flight safer, faster, and efficient. Aircrafts are designed for multiple purposes and most of them have the same major components. Most airplane structures include fuselage, wings, empennage, and landing gear. The fuselage includes cabin and/or cockpit, which contains seats for the occupants and the controls for the airplane. The empennage (also called tail) is the rear part of the aircraft. Usually, it includes the stabilizers, rudder, elevator as well as many other components.

Market Dynamics

The demand for aircraft parts is majorly attributed to the increase in use of carbon fiber and composite materials to reduce the overall structural weight of the aircrafts. In North American region, aircraft material vendors are focusing on supplying advanced light weight material to key airline companies. For instance, in January 2019, Teijin Limited announced that it would be supplying Tenax carbon fiber and Tenax TPUD, which is a unidirectional pre-impregnated tape, to Boeing Company. TENAX TPUD is made from thermoplastic resin, which has high fatigue and impact resistance compared to conventional materials. Moreover, in January 2019, Teijin Limited received a contract to supply its TENAX carbon fiber to Bombardier Inc., a Canada-based manufacturer of commercial and business jets.

Carbon fiber and composite materials are expensive as compared to conventional materials. Thus, carbon fiber aircraft parts are expensive and require high initial investment. However, it can be a challenge for small companies operating in North America aircraft parts market to pay such high initial capital, which is expected to hamper the market growth over the forecast period. In addition, the aircraft structures have complex architecture and require a lot of research and development activities, which is expected to act as challenging factor for small companies in aircraft parts market.

Market Taxonomy

This report segments the global aircraft parts market on the basis of parts, material type, aircraft type, application, and region. On the basis of parts, global aircraft parts market is segmented into engines, cabin Interiors, fuselage, empennage, landing gear, wings and flaps, and propeller. On the basis of material type, the global aircraft parts market is segmented into carbon fiber, composite material, steel alloy, aluminum alloy, and titanium alloy. On the basis of aircraft type, the global aircraft parts market is segmented into narrow body aircraft, wide body aircraft, and turboprop aircraft. On the basis of application, global aircraft parts market is segmented into commercial aircraft, business aircraft, and military aircraft. On the basis of region, global aircraft parts market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

This report provides an in-depth analysis of the global aircraft parts market, provides market size (US$ Billion), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global aircraft parts market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Major companies operating in the global aircraft parts market are: Airbus Group, Alcoa Corporation, Arconic Corporation, Boeing, Bombardier Inc., Collins Aerospace, Elbit Systems Ltd, Teijin, Lockheed Martin Corporation, and Triumph Group, Inc.
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
The global aircraft parts market analysis report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global aircraft parts market

Detailed Segmentation:

Global Aircraft Parts Market, By Parts: