- The key vendors in the Global Commercial Aircraft PMA Market 2015-2019 are AMETEK Inc., Parker Hannifin Corp., Pratt & Whitney Co., Precision Castparts Corp. and Rockwell Collins Inc.
London, 25 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Commercial Aircraft PMA Market 2015-2019. An increasing number of aircrafts in service have fuelled the need for fleet spare parts. PMA parts save costs by 30 to 50 percent in comparison to OEM parts. Hence, the acceptance of PMA parts by airlines and MRO providers has increased worldwide, along with the increased approval from authorities such as the FAA, EASA, and CAAs. The growing availability of e-platforms for aircraft aftermarket parts is also propelling growth in the market. The overall market is expected to grow at a CAGR of 7.96 percent during the forecast period of 2014-2019.
Airlines usually maintain an inventory of aircraft spare parts to prevent situations that cost thousands of dollars per hour. MRO providers and third-party companies that form a part of the Aircraft PMA parts market also maintain an inventory of such parts, which is facilitating the growth.
“Lessors have realized that high OEM market shares on aircraft aftermarket parts is not ideal for the value they wish to obtain when they part out aircraft and components after the end of service. Hence, they have grown more positive toward the acceptance of PMA parts
“Also, the regulatory scenario for approval and utilization has improved along with the guidelines and standardized processes from the FAA, EASA, and several CAAs.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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