AIRCRAFT PARTS MARKET ANALYSIS

Market Concentration and Competitive Landscape

Close-monitor your Competitor's Move, Request sample copy

Greater Emphasis on Parts Reliability

Another major factor aiding the aircraft parts market is the growing focus of regulators as well as carriers on operational reliability and safety. Any in-flight malfunctions or grounding issues translate to significant financial losses for airlines from delayed/cancelled flights besides damaging their reputation. The aviation authorities have hence tightened rules regarding use of unreliable parts on aircraft. They mandate that any replacement component must be equal or superior to the original part in quality and airworthiness. This pushes airlines and MROs to either rely only on authentic parts from OEM-authorized distributors or invest in stringent testing of alternative components. The need to avoid faults that can potentially endanger passengers has made carriers increasingly risk-averse about using unknown or low-cost parts.

For instance, on June 21, 2023, at the International Paris Air Show (SIAE), Capgemini an IT company,  and Amazon Web Services (AWS) a cloud computing company, announced the launch of Lifecycle Optimization for Aerospace. This platform aims to accelerate the adoption of circular economy practices in the aviation industry by automating the inspection process, optimizing lifecycle analysis of aircraft parts, and guiding decisions to extend their lifespan. Major aviation sector players, including Air France and Safran, participated in its development and will be among the first users.