Global Aircraft Component Market 2025–2034

Reports Description

Global Aircraft Component Market size was valued at USD 956.5 Billion in 2024 and is expected to reach USD 1,599.5 Billion by 2034 at a CAGR of 5.28% during the forecast period 2025 – 2034.

Aircraft components are manufactured by using a variety of materials and assembled by rivets, bolts, screws and welding, and adhesives. The structural membranes of the aircraft component include the stringers, longerons, ribs, bulkheads, etc. Aircraft structural members are designed to carry a load or to resist stress.

The primary materials used in aircraft components include metal alloys and composites made of carbon fiber and various fiberglass resins.  The main components of the aircraft include the fuselage, wings, cockpit, engine, propeller, tail assembly, and landing gear.

Source: International Civil Aviation Organization

Aircraft Component Market: Growth Factors

Growing Demand for the Commercial Aircraft

The growing investment in the commercial aviation industry and increasing demand for commercial aircraft in developing countries is expected to drive the demand for the aircraft components market during the forecast period.

The commercial aviation sector is mainly driven by the increasing global population and rising disposable incomes, especially in the U.S., China, India, and South Asian economies. For instance, according to the Aviation Week Intelligence Network, the demand for air transport will increase by an average of 4.3% per annum over the next 20 years, supported by the growing frequency of commercial travel due to increasing globalization and the ease of online booking platforms.

The commercial aircraft market is also being driven by changes in the airline industry and increasing supportive policies by various governments across the globe. For instance, in India, the number of commercial aircraft increased to 771.

This resulted from 112 new aircraft being added to the fleet by scheduled airline operators. The number of commercial aircraft is increasing due to growing air travel by the middle-class population and an increasing number of privately owned airplanes across the globe due to the growing net worth of people.

Increasing Emphasis on the Aircraft Modernization Programme

The increasing emphasis on the aircraft modernization programme due to increasing stringent regulations about the aviation industry and increasing number of the passenger traveling through the air route is expected to drive the demand for the aircraft component.

The various countries and respective aviation organizations are implementing stringent codes of conduct and new aircraft modernization programs. For instance, Indian Air Force and Defence Research and Development Organisation (DRDO) have launched an aircraft modernization program to replace and upgrade outdated equipment since the late 1990s to meet modern standards.

Under this program both the organization has started procuring and developing aircraft components, weapons, associated technologies, and infrastructures. Similarly, In U.K. Civil Aviation Authority and Department for Transport have developed a shared vision for the modernization of UK airspace.

Through this program, the U.K. government focuses on the modernization of commercial air transport and military, recreational flyers, business aviation, drones, aerial taxis, and spacecraft operators to increase the efficiency and productivity of these machines.

Furthermore, increasing air travel due to growing business expansions, frequent flights, and growing defense expenditure of all the major countries across the world are mainly creating the need for aircraft modernization, thereby driving the demand for aircraft components across the globe.

Aircraft Component Market: Restraint

Growing Counterfeiting of the Aircraft Component

Growing counterfeiting of aircraft components is becoming a major concern for many global aircraft component companies. The rise of counterfeit aircraft parts poses a significant safety risk to the aviation industry. For instance, according to the Federal Aviation Administration, about 520,000 counterfeit components or unapproved parts currently make it into planes annually.

This is about 2% of the overall 26 million parts involved with today’s flying airplanes. Thus, such factors are creating more concerns about the trustworthiness and credibility of the aircraft component companies, thereby discouraging new investment in the market.

Additionally, the growing usage of counterfeit aircraft components is a major issue plaguing the aircraft maintenance industry, which is an increasing problem as the airline industry expands in aircraft complexity and airframe types.

The fraudulent activities range from the integration of uncertified repair assemblies and work done in unauthorized facilities to outright counterfeit parts and even potentially good parts that are expired and sold with invalid certifications to approved maintenance organizations. Thus, such factors are restraining the overall market growth.

Lack of Harmonized and Universal Directives

The lack of universal and harmonized regulations and directives about aircraft components manufacturing and usage is restraining the overall market growth. Every aviation authority has a different set of directives and rules about the manufacturing of aircraft components.

The stakeholders operating in the market are finding it very difficult to comply with such country wide regulations. Thus, such factors are discouraging new investment in the market, thereby restraining the overall market growth.

Aircraft Component Market: Opportunities

Integration of the Advanced Technologies

The key players operating in the market are integrating various advanced technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and blockchain to increase the efficiency and productivity of aircraft components, thereby driving the overall market growth.

The key players operating in the market are using 3D printing, robotic systems, and laser welding technologies to foster the performance of the aircraft components, improve quality control, and streamline production. Artificial intelligence driven machine learning is used to analyse and depict the maintenance data to predict when aircraft parts need servicing.

Neural networks are used in collision avoidance systems to provide pilots with real-time collision avoidance advisories. An increasing use of automation and digital engineering in aircraft component manufacturing to optimize maintenance schedules and enable predictive maintenance.

This can help reduce maintenance costs and the likelihood of major component failures. Digital engineering is being used to design, create, simulate, and test aircraft systems. Thus, such factors are expected to create lucrative opportunities for the aircraft component manufacturers during the forecast period.

Aircraft Component Market: Segmentation Analysis

The Global Aircraft Component market is segmented by aircraft type, component, end user, and region. By aircraft type, the commercial aircraft segment dominated the market and is expected to keep its dominance during the forecast period owing to the growing adoption of commercial aircraft across the globe.

Various factors such as growing international tours & tourism, increasing air travel due to globalization, and increasing investment by the major aviation companies in the commercial aircraft components development are expected to drive the market growth of this segment during the forecast period.

The general aviation aircraft segment is expected to grow substantially during the forecast period. Increasing demand for business aviation, rising disposable income, and increasing stringent regulation about aviation components’ regular maintenance and operation are mainly driving the market growth of this segment during the forecast period.

The business jet segment is expected to grow significantly during the forecast period. The increasing number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) is boosting the adoption of business jets, thereby driving the demand for aircraft components.

By component, the engine segment dominated the market and is expected to keep its dominance during the forecast period owing to the increasing number of engines being replaced compared to the other components. The engine is the main component of the propulsion system, and it is the aircraft’s powerhouse.

The engine dictates the aircraft’s ability to traverse in the skies. The leading aircraft companies and stakeholders are increasingly focusing on developing fuel-efficient aircraft to reduce fuel consumption. The growing focus on developing high-power engines and improving the fuel consumption rate and efficiency is expected to create lucrative opportunities for the market during the forecast period.

Major engine OEMs and aircraft manufacturers are facing challenges such as rising fuel prices, which in turn led manufacturers to focus on aircraft fuel efficiency by regular maintenance and operation of the aircraft engine.

The fuel system segment is expected to grow at the fastest CAGR during the forecast period because the fuel system acts as the central hub, connecting various components and ensuring the aircraft’s overall functionality. The growing focus by the aircraft companies on improving the flight performance is expected to drive the demand for the fuel system.  The fuel system is more familiar to passengers as the aircraft’s body, and its primary significance lies in providing structural integrity and housing internal subsystems.

Report Scope

Aircraft Component Market: Regional Analysis

By Region, Aircraft Component market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and Latin America. Among all of these, North America held the largest Market share in 2024 and is expected to keep its dominance during the forecast period owing to the presence of the major key players in the region, such as Jamco Corporation, Bombardier Inc., GE Aviation, and Honeywell International Inc. in the region.

Various factors such as the presence of a well-established aviation industry, availability of infrastructure, increasing investment by the global companies in the region, growing disposable income, increasing air travel, and supportive government policies are mainly driving the market growth of this region.

The major countries such as the U.S., Canada, and Mexico are mainly driving the overall market growth.  U.S. dominated the North America aircraft component market due to the well-established supply chain network for aircraft parts.

Furthermore, supportive stringent regulations and growing FAA regulations pertaining to aircraft part manufacturer approval processes in the U.S. will boost the market’s growth. Various factors such as robust demand for commercial and military aircraft, growing aircraft modernization programs, and increasing air passenger traffic are some of the factors expected to create lucrative opportunities for the market during the forecast period.

The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The developing economies such as China, India, Japan, ASEAN, South Korea and Australia are mainly driving the market growth of this region. Various factors such as the growing expansion of the air fleets, increasing investment in the acquisition of the new aircraft, technological advancements, growing defence budget on the aircraft’s modernization, the increasing presence of the global aviation companies in the region and increasing domestic air traffic in the area are mainly driving the market growth of this region.

China held the highest market share in the Asia Pacific market. The presence of a well-established aviation industry, the presence of a large number of OEMs, the growing air number of air travellers, and increasing investment by the government as well as private companies in the region are mainly driving the market growth of China. For instance, in 2025, about 700 million travelers are expected to fly, representing the highest volume to date.

Europe is expected to hold a significant market share during the forecast period. The major countries such as the U.K., Germany, France, Russia, Italy, Spain, and Netherlands are mainly driving the market growth of this region. Various factors, such as the rapidly expanding tours and travel industry, the presence of well-established aviation companies, and growing stringent regulations about aviation standards, are mainly driving the market growth of this region.

Aircraft Component Market: Recent Developments

• In November 2023, the Jamco Corporation made a joint venture with the KLM Royal Dutch Airlines (KLM). Through this joint venture, the reverse herringbone premium class seats have been installed in the World Business Class (WBC) of KLM’s B777 Fleet.

• In February 2024, GE Aerospace at Singapore Airshow announced an investment of USD 11 million to transform the facility into a state-of-the-art “Smart Factory” that will leverage lean manufacturing processes and innovative technologies to revolutionize engine repair and expand workforce skills.

List of the prominent players in the Aircraft Component Market:

• Jamco Corporation
• Bombardier Inc.
• Eaton Corporation PLC
• GE Aviation
• GKN Aerospace
• Hanwha Aerospace
• Heracleum Group
• Hindustan Aeronautics Limited
• Honeywell International Inc.
• Leonardo S.p.A.
• Liebherr Group,
• Mitsubishi Heavy Industries Ltd.
• Moog Inc.
• Rolls-Royce plc
• Others

The Aircraft Component Market is segmented as follows:

By Aircraft Type

• Commercial Aircraft
• Business Jet
• General Aviation Aircraft
• Helicopters

By Component

• Engine
• Wheel and Brakes
• Landing Gear
• Avionics
• Fuel System
• Hydraulic System
• Cockpit System
• Others

By End Users

• Commercial
• Military
• Government

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America