The industry research report outlines the growth prospects and forecast of the commercial aircraft PMA market until 2019. The research segments the market according to PMA parts such as engine parts, airframe parts, and other components. It provides the key trends and market shares for the leading regions, including Americas, EMEA, and APAC. The report offers a detailed analysis of the leading players such as AMETEK, Parker Hannifin, Pratt & Whitney, Precision Castparts, and Rockwell Collins
Technavio’s market research analysts estimate the commercial aircraft parts manufacturer approval (PMA) market to grow at a CAGR of around 8% between 2015 and 2019, owing to the increase in aircraft services. The aircraft aftermarket parts and services market offers a higher profit margin for the leading vendors. As a result, many OEMs such as Pratt & Whitney, have entered the PMA market to provide PMA parts and services.
The engine PMA parts segment is the largest contributor of the commercial aircraft PMA market, and is expected to generate over US $409 million by 2019. However, the market share for the airframes segment is expected to rise during the forecast period, meanwhile the engine parts segment is expected to decline.
The Americas occupy around 48% of the total market share, and is expected to reach over US $371 million by the end of 2019. Much of the region’s growth can be attributed to the growing need for MRO and aircraft aftermarket parts and a rise in the number of PMA vendors.
Geographical segmentation of the global market 2019
Source: Technavio Research
“The usage of PMA parts results in cost savings up to 30%-50% compared to that of OEM parts. High reliability of PMA parts have led several airlines and MRO service providers across the world to implement these parts. Also, the rise in approval for PMA parts from authorities such as FAA, European Aviation Safety Agency (EASA), and Civil Aviation Authority (CAA) has led to increased demand for PMA parts,” says Sriram Mohan, Lead Analyst, Aerospace & Defence, Technavio Research.
Leading vendors in the global commercial aircraft PMA market are AMETEK, Parker Hannifin, Pratt & Whitney, Precision Castparts, and Rockwell Collins. The market is witnessing the entry of many online platforms that serve the aircraft aftermarket parts market. These e-platforms are helping the industry to thrive by resolving spare parts related issues such as ease of availability.
A more detailed analysis is available in the Technavio report, Commercial Aircraft PMA: Forecast and Market Analysis 2015-2019.
https://www.technavio.com/%3Cp%3E%3Cu%3E%3Cstrong%3EWe%20can%20customize%…
