About commercial aircraft PMA
An aircraft PMA is an approved replacement for the original part provided by an OEM, conforming to the FAA design and produced under the FAA approved production process. Since the 1950s, the FAA has been granting PMA to third-party manufacturers to produce replacement parts for aircraft. Without PMA, aircraft parts would be exclusively designed and manufactured by OEMs, giving them a monopoly in the aircraft aftermarket parts market. Approved parts are now being manufactured for almost every ATA chapter, a common referencing standard for aircraft parts, on an aircraft.
Technavio's analysts forecast the global commercial aircraft PMA market to grow at a CAGR of 7.95% over the period 2014-2019.
Covered in this report
In this report, Technavio covers the present scenario and growth prospects of the global commercial aircraft PMA market for the period 2015-2019. It presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, as well as the key trends emerging in the market.
Technavio's report, Global Commercial Aircraft PMA Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA, and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Commercial Aircraft Parts Manufacturer Approval (PMA) Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Commercial Aircraft Parts Manufacturer Approval Market: Ametek, Parker Hannifin, Pratt & Whitney, Precision Castparts and Rockwell Collins
Other Prominent Vendors in the market are: Able Engineering & Component Services, Adpma, Aero Brake & Spares, Airforms, AirGroup America, Aviation Component Solutions, B/E Aerospace, Chromalloy, Dixie Aerospace, Heico, Kapco Global, Spirit AeroSystems, Triumph Group, Wencor Group and Zodiac Aerospace
Commenting on the report, an analyst from Technavio’s team said: “Aircraft and engine lessors oppose the use of PMA parts in their aircraft. OEMs ongoing initiatives aimed at preventing PMA vendors and aircraft surplus parts brokers from encroaching on OEMs' market share. However, these initiatives have financially affected aircraft and engine lessors, who support OEMs against the use of PMA parts. The main issue in the aircraft leasing business, especially the engine leasing sector, is the financial impact of OEM initiatives on aircraft and engine lessors. However, the lessors are not the actual target. For example, the end-of-life target for both aircraft and engine lessors is to sell their aircraft and engines to parts brokers, which are then recycled back to the MRO industry in the form of parts and components. However, OEMs do not provide technical support if any non-OEM parts are installed in the engine, thus making the warranty void. Also, OEMs do not accept such components into their MRO systems. This largely undermines the value of the asset for aircraft and engine leasing companies.”
According to the report, the demand for PMA parts has increased with their growing acceptance. However, locating and acquiring the parts is not easy as there are numerous PMA vendors in the global market. E-platforms for aircraft aftermarket parts help airlines locate relevant suppliers at any time when there is a deficit of specific parts. The ease of availability of parts can prevent expensive AOG situations. These platforms not only help customers find the necessary parts, but also allow them to confirm availability, place an order, and track the shipment.
Further, the report states that certain challenges restrict the market, including the difficulties associated with the use of PMA parts and designated engineering representative (DER) repairs.
Ametek, Parker Hannifin, Pratt & Whitney, Precision Castparts, Rockwell Collins, Able Engineering & Component Services, Adpma, Aero Brake & Spares, Airforms, AirGroup America, Aviation Component Solutions, B/E Aerospace, Chromalloy, Dixie Aerospace, Heico, Kapco Global, Spirit AeroSystems, Triumph Group, Wencor Group, Zodiac Aerospace