North America Aircraft Aftermarket Parts Market by Application, by Commercial

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

Market Dynamics

the north america aircraft aftermarket parts market has been witnessing significant growth due to the increasing demand for maintenance, repair and overhaul (mro) services in the commercial aviation sector. this demand is driven by the increasing number of commercial aircraft in service, as well as the aging aircraft fleet in the region. one of the major applications of aircraft aftermarket parts is in commercial aviation. the commercial aviation segment has been dominating the north america aircraft aftermarket parts market and is expected to continue its dominance in the coming years. this can be attributed to the rising air traffic and the subsequent need for regular maintenance and repair of aircraft. as per the federal aviation administration (faa), there were approximately 17,100 commercial aircraft in service in the us in 2019, and the number is expected to increase significantly in the forecast period. this growth in the commercial aviation sector is expected to drive the demand for aircraft aftermarket parts in north america. the mro services for commercial aircraft include routine inspections, repairs, part replacements, and overhauls, which require a constant supply of high-quality aftermarket parts. the commercial aviation segment has strict safety regulations, which mandate the use of certified and reliable aftermarket parts to ensure the safe operation of aircraft. this has contributed to the growth of the aircraft aftermarket parts market in north america. another important application of aircraft aftermarket parts is in the defense sector. the region has a strong presence of defense equipment and aircraft manufacturers, which has led to the growth of the defense sector in north america. the us department of defense (dod) is a major consumer of aftermarket parts for military aircraft. the dod has been focusing on modernizing its aircraft fleet, which has resulted in an increased demand for aftermarket parts. apart from commercial and defense applications, the north america aircraft aftermarket parts market is also witnessing growth in fields such as general aviation, business jets, and helicopters. this can be attributed to the increasing demand for these types of aircraft, especially in the us and canada. in conclusion, the application of aircraft aftermarket parts in the commercial aviation sector and the defense sector has been driving the growth of the north america aircraft aftermarket parts market. with the increasing demand for air travel and modernization of the defense sector, the demand for aftermarket parts is expected to witness further growth in the coming years.