commercial aircraft parts manufacturer approval (pma) market forecast 2015 2025
TRANSCRIPT
www.visiongain.com
Contents 1. Report Overview 1.1 Global Commercial Aircraft Parts Manufacturers Approval (PMA) Market Overview
1.2 Global Commercial Aircraft Parts Manufacturers Approval (PMA) Market Segmentation
1.3 Market Definition
1.4 How This Report Delivers
1.5 Key Questions Answered by This Analytical Report Include:
1.6 Why You Should Read This Report
1.7 Methodology
1.8 Frequently Asked Questions (FAQ)
1.9 Associated Visiongain Reports
1.10 About Visiongain
2. Introduction to the Commercial Aircraft Parts Manufacturer Approval
(PMA) Market 2.1 U.S. Federal Aviation Administration Parts Manufacturer Approval (PMA) Procedure – FAA
Order 8110.42D
2.2 Global Commercial Aircraft Parts Manufacturer Approval (PMA) Market Structure Overview
2.3 Market Definition of the Commercial Aircraft Parts Manufacturer Approval (PMA) Market
3. Global Commercial Aircraft Parts Manufacturer Approval (PMA)
Market 2015-2025 3.1 Global Commercial Aircraft Parts Manufacturer Approval (PMA) Market Forecast 2015-2025
3.2 Global Commercial Aircraft Parts Manufacturer Approval (PMA) Market Drivers & Restraints
3.3 International Regulatory Acceptance of the U.S. FAA – Parts Manufacturer Approval
3.4 Parts Manufacturer Approval Categories – OEM Licensed Parts or Non-OEM Licensed Parts
3.5 Global Oil Price Forecasts Underpin the Dynamics of the Commercial Aircraft PMA Market
3.6 Global Commercial Aircraft Active Fleet Status and Future Outlook
3.7 Market Trends for the Global Commercial Aircraft Parts Manufacturer Approval (PMA) Market
4. Global Commercial Aircraft Parts Manufacturer Approval (PMA)
Submarket 2015-2025 4.1 Global Commercial Aircraft Line-Fit and Aftersales PMA Parts Submarket Overview
4.2 Commercial Aircraft Line-Fit (OEM Licensed) PMA Parts Submarket Overview 2015-2025
www.visiongain.com
Contents 4.2.1 Commercial Aircraft Line-Fit Cabin Interiors and IFEC PMA Parts Submarket 2015-
2025
4.2.1.1 Commercial Aircraft Line-Fit Cabin Interiors and IFEC PMA Parts
Submarket Analysis
4.2.2 Commercial Aircraft Line-Fit Engine and Avionics PMA Parts Submarket 2015-2025
4.2.2.1 Commercial Aircraft Line-Fit Engine and Avionics PMA Parts Submarket
Analysis
4.2.3 Commercial Aircraft Line-Fit Airframe and Other PMA Parts Submarket 2015-2025
4.2.3.1 Commercial Aircraft Line-Fit Airframe and Other PMA Parts Submarket
Analysis
4.3 Commercial Aircraft Aftersales (OEM Licensed & Non-OEM Licensed) PMA Parts Submarket
Overview 2015-2025
4.3.1 Commercial Aircraft Aftersales OEM Licensed PMA Parts Submarket 2015-2025
4.3.1.1 Commercial Aircraft Aftersales OEM Licensed PMA Parts Submarket –
PMA Licensing Parts Play an Important Role in Aircraft Aftersales Service
4.3.2 Commercial Aircraft Aftersales Non-OEM Licensed PMA Parts Submarket 2015-
2025
4.3.2.1 Commercial Aircraft Aftersales Non-OEM Licensed PMA Parts Submarket
– Why visiongain Rounded Down the Total CAGR Compared to Previous Year’s
Forecast
4.4 Global Commercial Aircraft Parts Manufacturer Approval (PMA) Submarket Forecasts 2015-
2025
5. Commercial Aircraft Non-OEM Licensed PMA Parts Submarket 2015-
2025 5.1 Global Commercial Aircraft Non-OEM Licensed PMA Parts Submarket Overview
5.2 Commercial Aircraft Non-OEM Licensed Engine PMA Parts Submarket 2015-2025
5.2.1 Commercial Aircraft Non-OEM Licensed Engine PMA Parts Submarket Drivers &
Restraints
5.2.2 Why will the Non-OEM Licensed Engine PMA Parts Submarket Suffer Lower Growth
Rates than Other Submarkets in the Next Decade?
5.3 Commercial Aircraft Non-OEM Licensed Component PMA Parts Submarket 2015-2025
5.3.1 Commercial Aircraft Non-OEM Licensed Component PMA Parts Submarket Drivers
& Restraints
5.3.2 How Growth in the Non-OEM Components PMA Parts Submarket Will Cause it to
Overtake the Engine PMA Submarket by 2030
www.visiongain.com
Contents 5.4 Commercial Aircraft Non-OEM Licensed Airframe PMA Parts Submarket 2015-2025
5.4.1 Commercial Aircraft Non-OEM Licensed <Engine> PMA Parts Submarket Drivers &
Restraints
5.4.2 How Technological Innovation Drives the non-OEM Licensed Airframe PMA Parts
Submarket with a Modest Growth
5.5 Global Commercial Aircraft Non-OEM Licensed PMA Parts Submarkets Cumulative Market
Share Forecast 2015-2025
6. Regional Commercial Aircraft Non-OEM Licensed PMA Parts Markets
2015-2025 6.1 Regional Commercial Aircraft Non-OEM Licensed PMA Parts Markets Overview
6.2 North American Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-
2025
6.2.1 North American Commercial Aircraft Non-OEM Licensed PMA Parts Market Drivers
& Restraints
6.2.2 How can PMA Manufacturers Exploit Rising Oil Prices in the North American
Market?
6.2.3 How Growth Will Prevail in the North American PMA Market Despite OEM
Countermeasures
6.2.4 Why a Smaller US Aircraft Lessor Market Will Still Impact Strongly on Future PMA
Sales
6.2.5 Is Risk Diversification Now Becoming a Necessity for PMA Manufacturers?
6.3 European Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-2025
6.3.1 European Commercial Aircraft Non-OEM Licensed PMA Parts Market Drivers &
Restraints
6.3.2 How Will Current Euro Zone Instability Cause Market Contraction in 2015?
6.3.3 Why a Euro Zone Recovery is Expected to Drive Commercial Aircraft PMA Sales
Revenues
6.3.4 Can the European Market Recovery be Bad for the Global Non-OEM licensed PMA
Market?
6.3.5 The Importance of Price Competitiveness Remains Critical for Market Success
6.4 Asia-Pacific Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-2025
6.4.1 Asia-Pacific Commercial Aircraft Non-OEM Licensed PMA Parts Market Drivers &
Restraints
6.4.2 Asia Pacific Commercial Aircraft Non-OEM Licensed PMA Parts Market to Double in
Value
www.visiongain.com
Contents 6.4.3 APAC Air Traffic Growth to Increase at 6.5% Per Annum: What does this Mean for
the APAC PMA Market?
6.4.4 Significant Numbers of BASA Agreements Between Asia Pacific Countries and U.S
6.4.5 The Indian PMA Market Conundrum
6.5 Middle East Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-2025
6.5.1 Middle East Commercial Aircraft Non-OEM Licensed PMA Parts Market Drivers &
Restraints
6.5.2 What is the Impact of State-Ownership on the Middle Eastern PMA Market?
6.6 South American Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-
2025
6.6.1 South American Commercial Aircraft Non-OEM Licensed PMA Parts Market Drivers
& Restraints
6.6.2 South American Market will Drive by American North-South Ties, But Under Threat
From MRO Migration
6.7 African Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-2025
6.7.1 African Commercial Aircraft Non-OEM Licensed PMA Parts Market Drivers &
Restraints
6.7.2 Why does the Unique Nature of the African Aviation Industry Provide Fertile Ground
for PMA Parts Sales?
6.8 Regional Commercial Aircraft Non-OEM Licensed PMA Parts Markets Cumulative Market
Share Forecast 2015-2025
7. PEST Analysis of the Commercial Aircraft Parts Manufacturer
Approval (PMA) Market 2015-2025 7.1 Political
7.1.1 Role of BASAs between FAA and National Regulators
7.1.2 Increased Presence in Defence Market
7.1.3 Political Limitations to Air Transport Industry
7.2 Economic
7.2.1 Turmoil in the Euro Zone
7.2.2 Growth in Developing Markets
7.2.3 Oil Price Rises & Spikes
7.2.4 Trends Towards OEM Outsourcing
7.2.5 Market Consolidation
7.3 Social
7.3.1 Rise of the ‘Global Middle-Class’
www.visiongain.com
Contents 7.3.2 OEM Defensive Measures / Responses to PMA
7.3.3 Lessor Reluctance to Use Non-OEM Licensed PMA Parts
7.3.4 Reputation for Safety
7.4 Technological
7.4.1 Improving Aircraft Technologies
7.4.2 Advanced Engineering Capabilities of PMA Providers
8. Expert Opinion 8.1 APDma LLC
8.1.1 What are ADPma’s Main Products & Areas of Specialisation?
8.1.2 Trends and Market Environment in the Commercial Aircraft PMA Market
8.1.3 What is the Current PMA Industry Climate? Will it Move Towards More
Consolidation?
8.1.4 How Threatening are OEM Defensive Measures to the PMA Market?
8.1.5 What Future Obstacles Exist for the Global Commercial Aircraft PMA Industry?
8.1.6 What Technological Developments will we see in the Commercial Aircraft PMA
Market?
8.1.7 What Emerging Market Presence will we see in the Future?
8.1.8 Is Pressure Coming from Aircraft Lessor in the Commercial Aircraft PMA Market?
8.1.9 What Role Could we Expect Regulator and Industry Associations to Play in the PMA
Market?
8.2 GE Aviation
8.2.1 What Role does GE Aviation Perform in the PMA Market?
8.2.2 What is GE Aviation’s Stance on PMA Parts?
8.2.3 How the Design Process Differs Between FAA-PMA Parts and OEM-Licensed PMA
Parts
8.2.4 What Changes Occur in Non-Licensed PMA Manufacture?
8.2.5 What OEM or Industry Measures will Affect PMA Market?
8.2.6 What Do You Consider the Future Trends for the PMA Market?
8.2.7 How Does the FAA RAF Report on PMA Equivalency Affect GE’s Position on FAA
Acceptance of PMA Parts?
8.2.8 ‘A Comparable Level of Certitude’ – Why GE Aviation Believes Part Criticality
Remains an Issue
8.2.9 What it Will Take for Future Industry Acceptance of Commercial Aircraft PMA Parts
8.2.10 Can Concerns be Remedied by PMA Industry Market Consolidation?
8.2.11 GE Aviation’s Stance on Pratt & Whitney PMA Parts Manufacture for GE/CFM
Engines
www.visiongain.com
Contents 8.2.12 Do You See Potential for the Commercial Aircraft PMA Market to Plateau?
8.2.13 What is the Role of Technical Innovation, Engineering Capability and
Macroeconomics act in the PMA Market?
8.2.14 What are the Impacts from New or Updated PMA Regulations to the Industry?
8.2.15 Is There a Cause for Concern From Emerging Market in Regard PMA Industry?
8.2.16 What are the Aircraft Lessors Concerns over the Commercial Aircraft PMA Parts
Market?
8.2.17 What are the Drivers Behind the GE/CFM International TRUEngine Program?
8.2.18 Is the TRUEngine Program the Next Stage for the Industry?
8.2.19 Does GE Aviation Hold Concerns About Chinese Intellectual Property Agreements
and GE Parts?
8.3 HEICO Corporation
8.3.1 HEICO – The Largest Independent PMA Parts Provider
8.3.2 The Climates of PMA Community in the Past and Now
8.3.3 Trends/Business Areas to Develop in the PMA Market
8.3.4 HEICO’s Prospective in PMA Community Market Consolidation
8.3.5 OEM Strategies to the PMA Industry
8.3.6 PMA Industry Potential, Where and How?
8.3.7 What Challenges and Opportunities are PMA Community Facing
8.3.8 New Areas of the PMA Development, Emerging Market and Leased Aircraft
8.4 Unison Industries LLC
8.4.1 Unison Industries’ Involvement and Business Area
8.4.2 Past and the Future Climate of PMA Community
8.4.3 Future Trends and Business Potential of PMA Industry
8.4.4 OEM’s Prospective in PMA Parts
8.4.5 Will the Commercial Aircraft PMA Market to Plateau?
8.4.6 Technical Innovation and Regulatory Opportunities in the PMA Industry
8.4.7 Emerging Market Plays an Important Role for PMA Industry
8.4.8 Continue Challenges from the Aircraft Lessors in the PMA Community
9. Leading Commercial Aircraft Parts Manufacturer Approval (PMA)
Companies 9.1 Top 12 Leading Commercial Aircraft Parts Manufacturer Approval (PMA) Company Analysis
2015
9.2 B/E Aerospace Inc.
9.2.1 B/E Aerospace Inc. Company Analysis, Regional Emphasis & Future Outlook
www.visiongain.com
Contents 9.2.2 B/E Aerospace Inc. M&A Activity
9.3 BAE Systems PLC
9.3.1 BAE Systems PLC Company Analysis
9.4 Esterline Technologies Corporation
9.4.1 Esterline Technologies Corporation Company Analysis
9.4.2 Esterline Technologies Corporation Competitors & Future Outlook
9.4.3 Esterline Technologies Corporation M&A Activity
9.5 HEICO Corporation
9.5.1 HEICO Corporation Company Analysis
9.5.2 HEICO Corporation Regional Emphasis / Focus
9.5.3 HEICO Corporation M&A Activity
9.6 Parker Hannifin Corporation
9.6.1 Parker Hannifin Corporation Analysis
9.6.2 Parker Hannifin Corporation Competitors
9.6.3 Parker Hannifin Corporation M&A Activity
9.7 Precision Castparts Corporation
9.7.1 Precision Castparts Corporation Analysis
9.7.2 Precision Castparts Corporation Regional Emphasis & Future Outlook
9.7.3 Precision Castparts Corporation M&A Activity
9.8 Timken Company
9.8.1 The Timken Company Analysis
9.8.2 The Timken Company Future Outlook
9.9 TransDigm Group Inc.
9.9.1 TransDigm Group Inc. Analysis
9.9.2 TransDigm Group Inc. Regional Emphasis / Focus
9.9.3 TransDigm Group Inc. M&A Activity
9.10 Triumph Group Inc.
9.10.1 Triumph Group Inc. Analysis
9.10.2 Triumph Group Inc. Regional Emphasis / Focus
9.10.3 Triumph Group Inc. M&A Activity
9.11 United Technologies Corporation
9.11.1 United Technologies Corporation Analysis
9.11.2 United Technologies Corporation M&A Activity
9.12 Wencor Group LLC
9.12.1 Wencor Group LLC Company Analysis
9.12.2 Wencor Group LLC M&A Activity
9.13 Zodiac Aerospace S.A.
www.visiongain.com
Contents 9.13.1 Zodiac Aerospace S.A. Company Analysis
9.13.2 Zodiac Aerospace S.A. Regional Emphasis / Focus
9.13.3 Zodiac Aerospace S.A. M&A Activity
9.14 Other Major Companies in the Commercial Aircraft Parts Manufacturer Approval (PMA)
Market
9.14.1 Able Aerospace – Able Engineering & Component Services
9.14.2 Aerotech Holdings Inc.
9.14.3 AMETEK Inc.
9.14.4 Astronics Corporation
9.14.5 Aviation Materials Management Inc. (Avmat)
9.14.6 Dover Corporation – Sargent Aerospace Inc.
9.14.7 Eaton Corporation PLC
9.14.8 GE Aviation
9.14.9 Gemini Engineering / Aviosupport Inc.
9.14.10 GM NAMEPLATE – GMN Aerospace
9.14.11 Honeywell International Inc.
9.14.12 Meggitt PLC
9.14.13 Panasonic Avionics Corporation
9.14.14 RBC Bearings Inc.
9.14.15 Rockwell Collins Inc.
9.14.16 Singapore Technologies Engineering Ltd. (ST Engineering)
9.14.17 Spirit Aerosystems Inc.
9.14.18 Thales S.A.
9.15 Other Prospected Companies in the Commercial Aircraft Parts Manufacturer Approval (PMA)
Market
9.16 Other Specialised Companies in the Commercial Aircraft Parts Manufacturer Approval (PMA)
Market
10. Conclusions 10.1 Global Commercial Aircraft Parts Manufacturer Approval (PMA) Market Outlook & Key
Findings
10.2 Drivers & Restraints for the Global Commercial Aircraft Parts Manufacturer Approval (PMA)
Market
Page 113
www.visiongain.com
Commercial Aircraft Parts Manufacturer Approval (PMA) Market Forecast 2015-2025: OEM vs Non-OEM Licensed Parts
5.3 Commercial Aircraft Non-OEM Licensed Component PMA Parts
Submarket 2015-2025
Table 5.4 Commercial Aircraft Non-OEM Licensed Component PMA Parts Submarket Forecast 2015-2025 ($m, AGR %, CAGR%, Cumulative)
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2015-25
Sales $m 257.0 270.0 284.3 299.9 316.8 334.9 355.3 376.9 400.6 426.4 453.2 482.0 4000.3
AGR (%) 5.1 5.3 5.5 5.6 5.7 6.1 6.1 6.3 6.4 6.3 6.4
CAGR (%) 2015-20 5.6 2020-25 6.3
CAGR (%) 2015-25 6.0
Source: Visiongain 2015
Figure 5.13 Commercial Aircraft Non-OEM Licensed Component PMA Parts Submarket Forecast 2015-2025 ($m, AGR%)
Source: Visiongain 2015
Figure 5.14 Commercial Aircraft Non-OEM Licensed Component PMA Parts Submarket Share Forecast 2015, 2020 and 2025 (% Share)
2015 2020 2025
Source: Visiongain 2015
0
1
2
3
4
5
6
7
0
100
200
300
400
500
600
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
AGR
(%)
Sale
s U
S$m
Year Market Value AGR %
39.9%
42.4%
45.5%
Page 141
www.visiongain.com
Commercial Aircraft Parts Manufacturer Approval (PMA) Market Forecast 2015-2025: OEM vs Non-OEM Licensed Parts
6.6 South American Commercial Aircraft Non-OEM Licensed PMA Parts
Market Forecast 2015-2025
Table 6.10 South American Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecast 2015-2025 ($m, AGR %, CAGR%, Cumulative)
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2015-25
Sales $m 21.5 22.3 23.2 24.2 25.2 26.2 27.2 28.3 29.5 30.8 32.2 33.8 302.9
AGR (%) 3.7 4.0 4.3 4.1 4.0 3.8 4.0 4.2 4.4 4.5 5.0
CAGR (%) 2015-20 4.1 2020-25 4.4
CAGR (%) 2015-25 4.2
Source: Visiongain 2015
Figure 6.20 South American Commercial Aircraft Non-OEM Licensed PMA Parts Market Forecasts 2015-2025 ($m, AGR%)
Source: Visiongain 2015
Figure 6.21 South American Commercial Aircraft Non-OEM Licensed PMA Parts Market Share Forecast 2015, 2020 and 2025 (% Share)
2015 2020 2025
Source: Visiongain 2015
0
1
2
3
4
5
6
0
5
10
15
20
25
30
35
40
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
AGR
(%)
Sale
s U
S$m
Year Market Value AGR %
3.3%
3.2%
3.2%
Page 155
www.visiongain.com
Commercial Aircraft Parts Manufacturer Approval (PMA) Market Forecast 2015-2025: OEM vs Non-OEM Licensed Parts
8. Expert Opinion
8.1 APDma LLC Formed in 2001, ADPma LLC is a leading manufacturing company that specialises in the design,
certification and manufacturing of precision aftermarket replacement parts for the commercial
aviation industry. ADPma goal to deliver more innovative and comprehensive PMA solutions to
airline operators and maintenance service providers. Since 2001, the company has received FAA
PMA approval to produce 335 parts, excluding PMA’s obtained through OEM license. ADPma’s
products directly support more than 35 major airlines in over 39 countries and nearly half of all
customers it support with PMA products are maintenance providers doing repair work for major
airlines and operators.
Mr Tom Post has more than 25 years’ experience in the
commercial aviation industry. The prior fifteen years with a
major North American airline in power plant engineering and
supply chain management disciplines supporting primarily
engine, APU and thrust reverser MRO, fleet safety and
reliability, and daily aircraft operations. In the recent ten years,
Mr Post held his current role as Director of Business
Development with ADPma, lead the business development
organisation, which is responsible for identifying candidates
for FAA PMA product development and certification, based on
launch customer requisites and market trend analysis,
aftermarket product marketing and sales strategies, direct customer service and product
management.
Visiongain would like to thank Mr Tom Post and ADPma LLC for their cooperation and contribution.
8.1.1 What are ADPma’s Main Products & Areas of Specialisation? Visiongain: What are ADPma’s involvements in the commercial aircraft PMA market?
Mr Tom Post: ADPma support regional and large commercial airline fleets, primarily on the CRJ
and Boeing platforms, by providing aftermarket PMA’s in APU, components and engine related
ATA systems. Majority of business is to several major Airlines, and large and small MRO providers
Page 194
www.visiongain.com
Commercial Aircraft Parts Manufacturer Approval (PMA) Market Forecast 2015-2025: OEM vs Non-OEM Licensed Parts
9.4 Esterline Technologies Corporation
Table 9.7 Esterline Technologies Corporation Company Overview 2015 (Total Revenue, Revenue from Avionics & Controls Market, % Revenue From Avionics & Controls Market, HQ, IR Contact, Website)
Total company revenue $m $1,969.8 million [FY2013]
Revenue from Avionics & Controls market $m
$771.7 million [FY2013]
% of revenue from Avionics & Controls market
39.2%
Headquarters Bellevue, Washington, USA
IR Contact [email protected]
Website www.esterline.com
www.cmcelectronics.ca
Source: Visiongain 2015
Table 9.8 Esterline Technologies Corporation Company Products / Services (Division, Product, Specification)
Company Division Product Specification
Avionics & Controls Avionics Systems
Designs and produces leading-edge technology for the aviation and global positioning markets, offering innovative cockpit systems integration and avionics solutions to commercial and military customers worldwide. Product brands include CMC Electronics.
Avionics & Controls Communication
Systems
Leading supplier of high quality military audio and data products designed to operate in the most severe battle environments. From secure audio and data intercommunication/networking systems to rugged noise-cancelling handsets and headsets. Product brands include Racal Acoustics, Palomar, and Eclipse Electronic Systems.
Avionics & Controls Control Systems
Offers a family of five complementary product and service brands well established in the aerospace and defence industries, which allow customers to select and integrate