Global Aircraft Component Market Size Likely to Surpass at a CAGR of 5.28% By 2034

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 Component Market Overview

Aircraft components are made of metal alloys, although composites are made of carbon fiber and various fiberglass resins. Aircraft components are structural components of the aircraft. Factors such as growing demand for commercial aircraft, increasing investment by OEMs and aviation companies in the manufacturing of aircraft components, and growing aircraft modernization are some of the factors mainly driving the aircraft component market.

The increasing defense budget by major countries on developing aircraft and aviation components is expected to drive market growth during the forecast period.

However, factors such as the high cost of aircraft components, less market penetration in many underdeveloped countries, lack of universal directives, and counterfeiting of the aircraft components mainly restrain the market growth.

The rapidly expanding aviation industry in emerging countries such as China, India, South Korea, Brazil, and ASEAN is expected to create lucrative opportunities for the market during the forecast period. The OEMs operating in the market collaborate with aviation companies to manufacture customized components.

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. The growing development of commercial aircraft and increasing travel and tours are expected to drive the market growth of this segment.

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.

By Region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and Latin America. Among all these, the North American region dominated the global market and is expected to keep its dominance during the forecast period owing to the presence of the well-developed aviation industry coupled with the increasing defense budget by the government of the U.S. on aircraft modernization projects. The major countries such as U.S., Canada and Mexico are mainly driving the market growth of this region.

The Asia Pacific region is expected to grow at the fastest growth rate during the forecast period owing to the growing air travel and increasing presence of the primary key players. The major countries such as China, India, Japan, ASEAN, South Korea and Australia are mainly driving the market growth of this region.

Report Scope

CMI has comprehensively analyzed the Global Aircraft Component market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the market scenario. Segment-wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Aircraft Component industry.

The competitive landscape includes key innovators, aftermarket service providers, market giants, and niche players who have studied and analyzed extensively concerning their strengths, weaknesses, and value-addition prospects. In addition, the report covers key players' profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.

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