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NEW YORK , July 20, 2022 /PRNewswire/ -- The 120-page report and TOC analyses the Commercial Aircraft PMA Market by Type (engine, component, and others) and Geography (APAC, North America , Europe , MEA, and South America ). The global commercial aircraft PMA market is a part of the global aerospace and defense market. The global aerospace and defense market were valued at $2,774.57 billion in 2020. The global commercial aircraft PMA market was a fragmented industry that was in a phase of growth in 2020. By 2025, the market structure would continue to be fragmented. Its lifecycle stage would continue to be in the growth phase. Moreover, the commercial aircraft PMA market share is expected to increase by USD 100.88 million from 2020 to 2025 with an accelerated CAGR of 2.76%, according to the recent market study by Technavio.
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Engine segment will be significant during the forecast period. The engine of a commercial aircraft consists of components, such as air intakes, compressors, combustors, turbines, afterburners (reheat), nozzles, and thrust reversers. The engines used in commercial aircraft are usually either lightweight piston engines or gas turbines. Moreover, the engine manufacturers are incorporating various technologies, such as additive manufacturing, to reduce the weight of the engine along with the manufacturing cost. This is encouraging various aircraft OEMs to use engines that reduce the manufacturing cost and the weight of commercial aircraft. Therefore, the advances in technology in aircraft engines will lead to an increase in the demand for commercial aircraft PMA-made engine components during the forecast period.
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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Commercial Aircraft PMA Market includes the following core components:
Track Pricing, Supply, Demand, Trade, and Distribution Scenario along with Key Customers. View Sample Report
The commercial aircraft PMA market is fragmented, and the vendors are deploying growth strategies such as competitive pricing strategies to compete in the market. Moreover, to make the most of the opportunities and recover from post COVID-19 impact, market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
This Statistical Study of the Commercial Aircraft PMA Market Encompasses Successful Business Strategies Deployed by the Key Vendors. Download Sample Copy (Including Graphs & Tables) to Know More
The number of air passengers is growing across the globe, especially in countries such as India , Vietnam , Iran , Colombia , and Saudi Arabia . These countries are significantly investing in upgrading the commercial aviation industry for both international and domestic air transport. Moreover, the number of air passengers is expected to grow rapidly due to the rapidly increasing global travel and tourism industry. The global travel and tourism industry is expected to grow due to the rise in the promotional activities undertaken by countries to attract tourists as well as the growing willingness of people to spend on recreational activities, including travel. Many governments across the globe are taking initiatives to boost the travel and tourism industry in their respective countries. This will lead to growth in the number of air passengers, thus, encouraging service providers to enhance their overall air transport services and increase the number of fleets in order to cater to the growing demand. This, in turn, will lead to an increase in the maintenance and repair activities for aircraft, thus leading to an increase in the demand for commercial aircraft PMA during the forecast period.
The key factors contributing to the decline in the volume of global exports are economic uncertainties and trade wars between various countries. Furthermore, the fluctuations in the prices of oil, gas, and metals in the global market and the shortage of skilled workers also have led to a reduction in the global manufacturing output. The shift in market dynamics has affected global trade. Furthermore, the value of goods exported and imported declined considerably in since 2019. Though these factors primarily impact the air cargo transportation business, they have an impact on passenger traffic as well. In addition, the outbreak of COVID-19 across the world has adversely impacted the aerospace industry value chain. The pandemic has led to a lockdown in various countries and a reduction in trade globally. The quick spread of COVID-19 has forced various governments to limit the use of cargo and commercial aircraft only to supply essential medicines and fly back their citizens who were stranded in other countries. Hence, these factors will lead to a reduction in the need for aircraft maintenance activities, which, in turn, will impact the demand for commercial aircraft parts from PMA enterprises, therefore, affecting the growth of the market on focus adversely during the forecast period.
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Commercial Aircraft PMA Market Scope
Accelerate at a CAGR of 2.76%
APAC, North America, Europe, MEA, and South America
US, China, Russian Federation, Japan, UK, and Germany
Leading companies, competitive strategies, consumer engagement scope
adpma LLC, Aero Brake & Spares Inc., AMETEK Inc., BAE Systems Plc, Berkshire Hathaway Inc., General Electric Co., HEICO Corp., Parker Hannifin Corp., Raytheon Technologies Corp., and Sequa Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 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.
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