Aircraft parts manufacturing,
repair & maintenance industry includes establishments involved in
developing prototypes and manufacturing aircraft engine and engine parts, other
aircraft parts, auxiliary equipment, modifications or conversions and complete
overhauling and rebuilding of aircraft.
The market was
valued $300 billion in 2017 due high
level of maintenance and high standards of checks required in aircraft.
Additionally, demand for repair and maintenance for ageing aircraft carriers is
further supporting the market.
The aircraft parts manufacturing, repair and
maintenance market is split into four segments: maintenance,
repair, & overhaul, engine & engine parts, and other aircraft parts.
North America was the largest region in the aircraft
parts manufacturing, repair and maintenance market
in 2017, accounting for more than 40% market share.
The USA was the largest
country in the market in 2017, accounting
for more than one-fifth of the market. The USA was followed by China as the
next largest country in the market.
The top five
competitors in the market are United Technologies Corp., General Electric
Company, The Boeing Company, Safran S.A. and Airbus Group. United Technologies
Corporation was the largest competitor. It provides high technology products
and services to the building systems and aerospace industries worldwide. The
company was established in 1934 and employs around 201,600 people across the
world.
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