According to a new report published by Introspective Market Research, titled, Aircraft Parts Market by Component, Application, and End-Use, The Global Aircraft Parts Market Size Was Valued at USD 687.38 Billion in 2024 and is Projected to Reach USD 1,103.47 Billion by 2032, Growing at a CAGR of 5.4%. The global aircraft parts market is witnessing strong growth driven by increasing air travel demand, fleet modernization, and the rising need for efficient and sustainable aviation solutions. Aircraft parts encompass a wide range of critical components including engines, avionics, airframes, and landing gear, all of which play a pivotal role in ensuring operational safety, performance, and compliance with international aviation standards.
As airlines expand fleets and older aircraft are retired, demand for both OEM parts and aftermarket services is accelerating. Growing emphasis on lightweight materials, advanced avionics, and next-generation propulsion systems is further reshaping the industry landscape. Additionally, advancements in predictive maintenance, digitization of supply chains, and 3D printing technologies are transforming aircraft part manufacturing and distribution.
With rising passenger traffic in emerging economies and government investments in defense and commercial aviation, the aircraft parts market is poised for sustained expansion during the forecast period.
The Aircraft Parts Market is segmented into Component, Application, and End-Use.
-
By Component, the market is categorized into Engines, Avionics, Airframes, Cabin Interiors, and Others.
-
By Application, the market is categorized into Commercial Aviation, Business Aviation, and Military Aviation.
-
By End-Use, the market is categorized into OEM and Aftermarket.
A major growth driver of the aircraft parts market is the surge in global air passenger traffic, which is encouraging airlines to expand fleets and invest in fuel-efficient, next-generation aircraft. Rapid urbanization, tourism growth, and increasing disposable incomes, especially in Asia-Pacific and the Middle East, are driving commercial aviation expansion. This creates rising demand for advanced engines, avionics, and lightweight materials to improve operational efficiency. In addition, the growing replacement of aging aircraft with modern, eco-friendly models significantly boosts the demand for OEM parts while also creating opportunities in aftermarket maintenance and repair.
A key market opportunity lies in the integration of digital technologies and advanced manufacturing in aircraft part production. The adoption of additive manufacturing (3D printing), smart materials, and predictive analytics enables cost savings, reduced lead times, and improved customization of parts. Emerging markets in Asia-Pacific, Africa, and Latin America represent untapped opportunities as governments invest in aviation infrastructure and expand defense budgets. Additionally, sustainability initiatives—such as the development of lightweight composite structures and eco-friendly engines—present new avenues for growth as the aviation industry transitions toward lower emissions and improved fuel efficiency.
Detailed Segmentation
Aircraft Parts Market, Segmentation.
The Aircraft Parts Market is segmented on the basis of Component, Application, and End-Use.
Component
The Component segment is further classified into Engines, Avionics, Airframes, Cabin Interiors, and Others. Among these, the Engines sub-segment accounted for the highest market share in 2024. Aircraft engines are the most critical and expensive component, requiring continuous upgrades and maintenance to ensure safety and efficiency. With the push toward fuel-efficient propulsion technologies, manufacturers are investing heavily in advanced turbofan and hybrid-electric engines. The increasing focus on sustainability and reduced emissions has placed engines at the center of innovation and spending in the aircraft parts industry.
Application
The Application segment is further classified into Commercial Aviation, Business Aviation, and Military Aviation. Among these, the Commercial Aviation sub-segment accounted for the highest market share in 2024. Driven by strong global passenger growth, fleet expansion, and the rising demand for cost-efficient operations, commercial aviation relies heavily on advanced avionics, lightweight airframes, and high-performance engines. Major airlines are consistently upgrading parts to enhance safety, improve fuel efficiency, and provide superior passenger experience, ensuring this segment’s continued dominance.
Some of The Leading/Active Market Players Are-
- General Electric Aviation (USA)
- Rolls-Royce Holdings plc (UK)
- Safran S.A. (France)
- Raytheon Technologies Corporation (USA)
- Honeywell International Inc. (USA)
- The Boeing Company (USA)
- Airbus SE (Netherlands)
- Lockheed Martin Corporation (USA)
- Leonardo S.p.A. (Italy)
- Embraer S.A. (Brazil)
- MTU Aero Engines AG (Germany)
- Mitsubishi Heavy Industries, Ltd. (Japan)
- Spirit AeroSystems Holdings, Inc. (USA)
- GKN Aerospace (UK)
- Bombardier Inc. (Canada)
- other active players.
Key Industry Developments
- In January 2024, Rolls-Royce announced successful testing of its UltraFan engine technology designed to reduce fuel consumption by 25%.
This milestone highlights the company’s commitment to sustainability and efficiency, setting a new benchmark for next-generation aircraft propulsion systems. - In June 2024, Airbus signed a long-term agreement with Spirit AeroSystems to expand production of advanced composite components for commercial aircraft.
The partnership is aimed at strengthening Airbus’ supply chain resilience and meeting rising demand for lightweight structures in its A320 and A350 programs.
Key Findings of the Study
- Engines dominate the component segment.
- Commercial aviation remains the leading application area.
- Asia-Pacific is expected to witness the fastest growth.
- Demand is fueled by fleet modernization and passenger traffic growth.
- Lightweight materials and sustainable technologies are key market trends.
