A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Commercial Aircraft PMA – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Companies: 83 – Players covered include BAE Systems PLC; HEICO Corporation; Parker Hannifin Corporation; Precision Castparts Corporation; The Timken Company; TransDigm Group, Inc.; TransDigm Group, Inc.; Triumph Group, Inc.; United Technologies Corporation (UTC); Wencor Group and Others.
Coverage: All major geographies and key segments
Segments: Type (Engine, Component, Other Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Commercial Aircraft PMA Market to Reach US$14 Billion by the Year 2026
PMA is a production approval related to replacement aircraft components and parts, with PMA products representing modification and replacement parts used on qualified products. In addition, commercial aircraft PMA is an authorized alternative for OEM-approved original components and parts. Airlines operating these aircraft must ensure timely repair and maintenance services for keeping aircraft fuel-efficient and lower carbon emissions. Growth in the global market is attributed to anticipated increase in passenger traffic and expansion of the commercial aircraft fleet size. The commercial aircraft PMA market declined in 2020 because of COVID-19 pandemic that disrupted supply chains, leading to flight cancellation and coercing governments to enforce travel bans to curtail spread of the virus. The pandemic coerced various airlines to retire aircraft earlier for reducing operating and maintenance costs. The decision resulted in influx of USM and rotatable parts that reentered into the market through USM providers and PMA holders.