India Aircraft Aftermarket Parts Market by Application, by Commercial

Synopsis
The above chart is India Aircraft Aftermarket Parts Market by Application, by Commercial (USD Million)

Market Dynamics

the indian aircraft aftermarket parts market is witnessing a significant demand, driven by various applications in the commercial sector. these applications include spare parts and components, maintenance services, and other aftermarket services for commercial aircraft. the commercial sector is the largest contributor to the demand for aftermarket parts in india. with a growing aviation industry and increasing demand for air travel, there has been a rise in the number of commercial aircraft in the country. this, in turn, has led to an increased need for aftermarket parts to keep them in operation. as per recent estimates, india's domestic air passenger traffic grew by 11.6% in 2019, and the number of aircraft is expected to double in the next five to six years. this growth has created a huge demand for aftermarket parts, especially in the commercial sector. one of the essential applications of aftermarket parts in the commercial sector is spare parts and components. with the growing number of aircraft in operation, there is a continuous need for spare parts and components to replace the worn-out or damaged parts. these spare parts are essential to ensure the safety and efficiency of the aircraft while reducing the risk of operational failures. the demand for spare parts is not only limited to the big commercial airlines but also extends to small regional carriers and charter operators, further contributing to the demand for aftermarket parts. maintenance services are also a critical application of aftermarket parts in the commercial sector. to ensure the safety and proper functioning of commercial aircraft, regular maintenance and repair services are required. these services involve the replacement and installation of various aftermarket parts like engines, landing gear, avionics, and others. as the aircraft fleet in india continues to grow, there is a significant demand for maintenance services, driving the demand for aftermarket parts. additionally, other aftermarket services such as aircraft upgrades, retrofitting, and modifications also contribute to the demand for aftermarket parts in the commercial sector. with technological advancements and changing regulations, aircraft operators need to upgrade and modify their aircraft to meet safety and environmental standards. this creates a continuous demand for aftermarket parts to replace the old and outdated components. in conclusion, the commercial sector in india is the primary driver of demand for aftermarket parts, with applications ranging from spare parts and components to maintenance services and upgrades. with the increasing number of aircraft and the need for regular maintenance, the demand for aftermarket parts in the commercial sector is expected to continue to grow in the coming years.