Global Aircraft Component Market Assessment, By Aircraft Type [Commercial, Business Jets, General Aviation Aircraft, Helicopter, Military], By Components [Engine, Wheels and Brakes, Landing Gear, Avionics, Fuel System, Hydraulic System, Flight Control, Others], By Region, Opportunities and Forecast, 2018-2032F

Aircraft component market is projected to witness a CAGR of 7.50% during the forecast period 2025-2032, growing from USD 330.29 billion in 2024 to USD 589.05 billion in 2032

Aircraft Component Market, Size, Future, Growth, Trends Outlook 2032

Aircraft component market&nbsp;is projected to witness a&nbsp;CAGR of 7.50%&nbsp;during the forecast period 2025-2032, growing from&nbsp;USD 330.29 billion&nbsp;in 2024 to&nbsp;USD 589.05 billion&nbsp;in 2032. The market has experienced notable growth in recent years and is expected to maintain a strong pace of expansion in the coming years. Global aircraft component market is experiencing growth due to rising aircraft deliveries and air fleet expansion, along with growing air travel in developing countries. Furthermore, technological advancements in material composition and sustainability have also supported this market&rsquo;s expansion.
The global aircraft component market is experiencing notable growth due to several factors such as technological advancements in the aviation industry, growing use of lightweight composite materials, and design advancements. Integration of newer innovative technologies such as IoT (Internet of Things) and AI (Artificial Intelligence) has transformed diagnostic and predictive capabilities for effective maintenance.
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Report Attributes
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Details
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Base Year
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2024
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Forecast Period
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2025-2032F
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Historical Period
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2018-2023
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Projected Growth Rate
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CAGR of 7.50% between 2025 and 2032
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Revenue Forecast in 2032
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USD 589.05 billion
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For instance, in February 2025, Azad Engineering Limited signed a long-term agreement with Rolls-Royce Holdings plc. to manufacture and supply critical components for civil aircraft engines. This partnership will involve producing highly complex machined parts in India for the entire lifecycle of the engine program. The deal strengthens their collaboration, emphasizing innovation and precision in aerospace manufacturing.
Air Fleet Expansions are Growing Market Opportunities
Massive aircraft deliveries, air fleet expansions globally, and the tremendous acquisition of newly ordered aircraft by airlines for the expanding need for aerial travel will fuel vast growth in this aircraft component market. A solid and steady increase in commercial aircraft fleets worldwide is getting noticed as more airlines upgrade aging fleets to newer, cleaner, more fuel-efficient units and grow their operations through newer markets. This enhances the growth in demand for new unit parts and maintenance, repair, and overhaul (MRO) services. The aircraft components market is expected to experience continued demand, as many manufacturers are recording backlogs.
For example, in July 2024, Qatar Airways made an announcement at the Farnborough International Airshow 2024 that it has expanded its existing order of 40 Boeing 777-9 commercial aircraft with 20 additional Boeing 777-9. This expansion shows how committed the airline is to increase its fleet's capabilities and address rising passenger demand.
<h2>Technological Advancements Fueling the Aircraft Component Market Growth</h2>
Advancements in technology is a growth driver for the aircraft component market. Manufacturing efficiency has increased, and it has helped improve the performance of components. Additive manufacturing and advanced composite materials yield lighter, more substantial parts, increasing the fuel efficiency of the operation and reducing its cost. Innovative technologies, including sensors and internet of things (IoT), help monitor real-time status and predict maintenance, thus delivering maximum aircraft performance with safety. In addition, manufacturing process automation has streamlined production, reduced lead times, and increased precision. Such advancements meet the growing demand for new aircraft and support the modernization of existing fleets, ensuring that manufacturers can deliver high-quality components that adhere to stringent industry standards.
For instance, in June 2024, GE Aerospace (General Electric Company), in collaboration with NASA, is advancing hybrid-electric engine technology through the Hybrid Thermally Efficient Core (HyTEC) project. This initiative aims to develop engines with embedded electric motor/generators, reducing fuel consumption and emissions. The project includes modifying a passport engine for testing and focuses on sustainable aviation solutions.
Increased Air Travel Acting as a Catalyst
Increased aircraft deliveries and travel are the most critical drivers in the aircraft component market. There is a high demand for various aircraft components, like engines, avionics, and structural parts, as airlines expand their fleets in response to increased passengers. Growth is also evident in regions with an increasing aviation market due to economic development and the growing middle class. Airlines order new aircraft and retrofit in-place fleets with new avionics technology to provide the best passenger experience and fuel efficiency. This trend increases the demand for high-quality parts, which in turn leads to innovation as well as competition in the production of such parts among the manufacturers.
For example, in October 2024, Airbus SE announced a commercial aircraft order backlog of more than 8,749. Meanwhile, Airbus Helicopters recorded 308 net orders, including 43 heavy helicopters from the Super Puma Family. These reflect increasing demands by airlines worldwide and a greater need to ensure a robust supply chain for aircraft components.
Flight Control Systems Expected to Witness Fastest Growth
Flight control systems is expected to witness the fastest growth among the aircraft components. These are essentially inevitable for an aircraft to achieve and maintain its stability and safety, and they accompany a flight without being very heavy. Flight controls, system-primary ailerons, elevators, and rudders are designed to regulate an airplane's attitude and course of flight. With the advancing stages of aviation, next-generation flight control technology requirements will grow stronger, primarily fly-by-wire systems, driving the global aircraft component market growth. These advances enhance accuracy and reduce the pilot's workload and are, therefore, vital in current aircraft design. Moreover, the increasing air traffic and the rising commercial fleets increase the need for more advanced flight control systems capable of supporting efficient and safer operations.
For instance, in November 2024, JetZero Inc. finalized agreements with five companies to supply flight control systems for its Blended Wing Body (BWB) demonstrator aircraft. Key suppliers include BAE Systems, Moog Inc., Safran, Woodward, and Thales Group. These partnerships mark a significant milestone in the development of BWB aircraft, which aims to reduce emissions and fuel consumption.
North America Dominates Aircraft Component Market Share
North America is another significant portion of the aircraft components market, mainly due to its high strength in the aerospace industry and sound investment in aviation technologies. Many leading regional manufacturers and suppliers contribute to commercial and military aviation's robust supply chain. Larger fleet sizes, aircraft requiring overhauls, and upgrading activities lead to consistent demand for all aircraft components. In addition to this, colossal defense expenditure is in favor of North America and enhances the market for the product. The rise in domestic demand to supply parts worldwide ensures that the aircraft component business is significant in North America. In the United States, approximately 5,000 flights take off every hour depicting how dominant air travel is in this country. A high number of domestic flights in this region further demonstrates North America's important share in the aircraft components market across the world. With a large fleet and the constantly growing passenger traffic, the demand for aircraft parts and maintenance services remains consistent and ensures high growth in this sector. As the main hub of the aerospace industry, aircraft manufacturers and suppliers continue to rely on North America.
For instance, in July 2024, United Airlines once again proved to move one step ahead in the aircraft component market in North America by signing the latest deal with Honeywell to supply advanced cockpit technology for new 737 MAX aircraft. This suite includes innovative components like the IntuVue RDR-4000 3D weather radar, 25-hour flight data recorders, and advanced collision avoidance systems that enhance safety and operational efficiency.
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Future Market Scenario (2025 &ndash; 2032F)
<ul>
<li>The global aircraft component market will grow gradually as demand for air travel rises and fleet expansion is witnessed across regions.</li>
<li>Technological advancements, including lightweight materials and intelligent manufacturing processes, improve aircraft component efficiency and performance.</li>
<li>The rapid growth of low-cost airlines in emerging markets increases the demand for new aircraft and parts.</li>
<li>Strategic partnerships and investments in advanced manufacturing technologies are likely ways for the aircraft component industry to strengthen supply chain resilience and innovation.</li>
</ul>
Report Scope
&ldquo;Aircraft Component Market Assessment, Opportunities and Forecast, 2018-2032F&rdquo; is a comprehensive report by Markets and Data. It provides in-depth analysis and qualitative and quantitative assessment of the current state of the&nbsp;global aircraft component market, as well as industry dynamics and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Segments Covered
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Application, Component
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East, and Africa
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Key Companies Profile
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The Boeing Company, Airbus SE, RTX Corporation, Bombardier Inc., General Electric Company, Honeywell International Inc., Rolls-Royce plc, and Kellstrom Aerospace, Hindustan Aeronautics Limited, Eaton Corporation plc.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report, the&nbsp;global aircraft component market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Application
<ul>
<li>Commercial
<ul>
<li>Wide Body</li>
<li>Narrow Body</li>
<li>Regional</li>
</ul>
</li>
<li>Business Jets</li>
<li>General Aviation Aircraft</li>
<li>Helicopter</li>
<li>Military</li>
</ul>
</li>
<li>By Components
<ul>
<li>Engine</li>
<li>Wheels and Brakes</li>
<li>Landing Gear</li>
<li>Avionics</li>
<li>Fuel System</li>
<li>Hydraulic System</li>
<li>Flight Control</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The global aircraft component market is highly competitive, with many players competing to get a share of the market. Key players in this market are concentrating on innovative and technological product development to enhance offerings that can cater to the changing demands of the aviation sector. Collaboration and partnership between manufacturers, suppliers, and airlines are becoming increasingly prevalent for better supply chain management efficiency and reduced production cost. The other change in market practice is sustainability, and companies are targeting the use of environmentally friendly materials and processes that align with global requirements. Since the demand for air travel is on the rise, the growth in quality parts is also on the increase, thus allowing both established and new companies to grow. Several projects are set to elevate the aviation industry with the creation of state-of-the-art aircraft parts centers in new regions.
For example, in March 2025, The Derichebourg Group, a French multinational, plans to establish Asia's first aircraft parts processing and trading center in Hong Kong. This initiative will involve facilities at Hong Kong International Airport and the Northern Metropolis, boosting the city's aviation hub status. The project is expected to create thousands of jobs and attract global investors.
Key Players Operating in the Global Aircraft Component Market are:
<ul>
<li>The Boeing Company</li>
<li>Airbus</li>
<li>RTX Corporation</li>
<li>Bombardier Inc.</li>
<li>General Electric Company</li>
<li>Honeywell International Inc.</li>
<li>Rolls-Royce plc</li>
<li>Kellstrom Aerospace LLC</li>
<li>Hindustan Aeronautics Limited</li>
<li>Eaton Corporation PLC</li>
</ul>
If you can't find what you're searching for or have any custom requirements for the global aircraft component market, you may approach our team at&nbsp;<a href="mailto:info@marketsandata.com">info@marketsandata.com</a>

Global Aircraft Component Market Assessment, Opportunities and Forecast, 2018-2032F

Aircraft Component market is expanding due to increased aircraft deliveries, fleet expansion, growing air travel in developing countries, and technological material composition and sustainability advancements.

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