Aviation aftermarket marketing simple overview

North American airlines and aircraft maintenance centers are increasingly relying on used and generic parts to keep airliners flying, a symptom of rising costs and supply chain shortages plaguing the industry.

These replacement parts, made by the original manufacturer, must be certified and deemed safe before they can be used. While they account for a fraction of the estimated $35 billion annual repair market, sales are rising, analysts and executives said.

Aerospace suppliers are struggling to meet new orders as air traffic surges and aircraft parts supply chains continue to recover from labor shortages and shutdowns that have curtailed production due to the COVID-19 pandemic.

Higher costs and a shortage of new parts available have also delayed aircraft repairs, contributing to higher airfares.

What is aviation aftermarket?

Commercial aircraft aftermarket parts are referred to as the manufacturing, remanufacturing, distribution, retailing, and installation of all the replacement parts, equipment, and accessories of a commercial aircraft.

How big is the aftermarket market in aerospace?

The global aircraft aftermarket parts market size was USD 29.44 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with commercial aftermarket parts witnessing a negative impact on demand across all regions amid the pandemic.

What makes a part aftermarket?

Aftermarket parts are replacement parts that are not made by the original equipment manufacturer. Aftermarket parts are used to replace damaged parts in automobiles and other equipment, but their use may alter the coverage of an insured item.

Is aftermarket parts better?

Aftermarket parts can be a favoured choice. This is because they are typically readily available since many different manufacturers interchangeable parts. They’re also usually cheaper than OEM parts without sacrificing quality; usually. Unlike OEM parts, however, aftermarket parts are not all regulated or standardized.

What is the difference between aftermarket and MRO?

The term “aftermarket service” applies to the activity of maintaining or enhancing equipment or machinery used by a different organization. “MRO” refers to the same kind of activity but accomplished by the same organization as the one using the equipment.

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