Global Market Scenario

The narrow body segment is expected to witness the highest CAGR growth from 2022 – to 2027.

Due to Covid – the 19 pandemic, several airlines have been forced to retire their aircraft earlier to reduce operating costs. This has allowed higher availability of rotable and USM parts into the inventory, which have entered the market supply chain through PMA holders and USM providers.

The growth in the commercial aircraft fleet and the need for timely maintenance, repair, and overhaul services are expected to bolster the market prospects during the forecast period.

The Asia – Pacific region currently has the highest market share in the commercial aircraft aftermarket parts market. The region is also anticipated to witness the highest growth post-pandemic.

The global general aviation market is expected to grow from US$ 26,208.00 million in 2021 to US$ 36,461.60 million by 2028; it is estimated to register a CAGR of 4.8% during 2021-2028.

The elevated demand for charter operations across different regions is propelling the general aviation aircraft market growth. However, the requirement for business jets is expected to increase in the coming years due to the persistent surge in charter activities and business travel in the region.

The general aviation market is segmented into components, aircraft, and geography.

Based on components, the market is categorized into avionics, airframe, landing gears, engine, and others. In 2020, the engine segment held the largest share of the market.

In terms of aircraft, the general aviation market is segmented into fixed-wing and rotary-wing. In 2020, the fixed-wing segment accounted a larger share.

Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.

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