Commercial Aircraft PMA Market to grow by USD 227.19 million from 2023 to 2028; Growth Driven by the relatively low cost of PMA-made parts – Technavio

NEW YORK, Feb. 5, 2024 /PRNewswire/ — The commercial aircraft PMA market by type (engine, component, and others), application (small widebody, medium widebody, and large widebody), and geography (APAC, North America, Europe, Middle East and Africa, and South America) – Forecast and Analysis 2024-2028″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the commercial aircraft PMA market between 2024 and 2028 is USD 227.19 million.

Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The relatively low cost of PMA-made parts is the key factor driving market growth. The only companies offering commercial aircraft parts to service providers were original equipment manufacturers of commercial aircraft. Their monopoly of the industry has been caused by this. Nevertheless, the commercialization of PMA components has encouraged a variety of service providers to buy parts from PMA companies in the Commercial Aircraft Parts Manufacturers’ Approval Market. Therefore, PMA enterprises are offering lower-cost components that don’t compromise on quality.

Market Challenge

The rigorous standards set by aviation authorities is a significant challenge restricting market growth. To obtain a PMA certificate, manufacturers must comply with rigorous standards set by aviation authorities such as the Federal Aviation Administration (FAA) or the European Aviation Safety Agency (EASA). In addition, to establish credibility and sustain the growth of the approval market for aircraft parts made by manufacturers, successful navigation of regulatory obstacles plays a key role.

Learn about additional key drivers, trends, and challenges available with Technavio. Read a Free Sample PDF Report Now

The commercial aircraft PMA market is segmented by type (engine, component, and others), application (small widebody, medium widebody, and large widebody), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 

The market share growth by the engine segment will be significant during the forecast period. Businesses involved in the production of modifications or replacement engine components to be installed and sold on type-certificated engines shall require a PMA. To decrease engine weight and production costs, these engine manufacturers are adopting a variety of technologies like the manufacture of additives. Such factors are driving the growth of the engine segment of the market during the forecast period.APAC is estimated to contribute 43% to the growth by 2028. 

View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Commercial Aircraft PMA Market:

ADPma LLC, Aero Brake and Spares Inc., Airforms Inc., AirGroup America Inc., AMETEK Inc., Aviation Component Solutions, BAE Systems Plc, Berkshire Hathaway Inc., Fluid Components LLC, General Electric Co., HEICO Corp., Kellstrom Aerospace, Parker Hannifin Corp., Raytheon Technologies Corp., RBC Bearings Inc., Safran SA, Spirit AeroSystems Inc., The Timken Co., Triumph Group Inc., and Wencor Group LLC

Related Reports:

The Commercial Aircraft Aviation Fuel Market size is estimated to grow at a CAGR of 7.65% between 2022 and 2027, and the size of the market is forecast to increase by USD 49.5 billion. 

The commercial aircraft passenger service unit (PSU) market size is estimated to grow at a CAGR of 5.35% between 2022 and 2027, and the size of the market is forecast to increase by USD 319.97 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Application 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/commercial-aircraft-pma-market-to-grow-by-usd-227-19-million-from-2023-to-2028-growth-driven-by-the-relatively-low-cost-of-pma-made-parts—technavio-302052842.html

SOURCE Technavio