Product Code: ETC240749 | Publication Date: Aug 2022 | Updated Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Philippines Aircraft Aftermarket Parts Market registered a growth of 47.86% in value shipments in 2022 as compared to 2021 and a decrease of -6.17% CAGR in 2022 over a period of 2017. In Aircraft Aftermarket Parts Market Philippines is becoming less competitive as HHI index in 2022 was 1404 while in 2017 it was 1306. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Philippines has reportedly relied more on imports to meet its growing demand in Aircraft Aftermarket Parts Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Aircraft Aftermarket Parts Market in 2022 was 1.2 while in 2017 it was 1. USA, China, Turkey, Singapore and United Kingdom (UK) were among the top players of the market in 2022, where USA acquired the largest market share of 31.41% with a shipment value of 159.4 million USD in 2022 USA also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Aircraft Aftermarket Parts Market. In 2017 USA had the largest market share of 24.56% with the shipment value of 123.55 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Philippines Aircraft Aftermarket Parts Market in 2017.
The Philippines aviation test equipment market has experienced notable growth, achieving a CAGR of around 6% over the past five years. This growth can be attributed to the increased emphasis on safety, regulatory compliance, and precision in aircraft maintenance and operations. Aviation test equipment, including diagnostic tools, calibration devices, and inspection systems, are integral to ensuring the airworthiness of aircraft. As the aviation sector in the Philippines continues to evolve, the demand for accurate and reliable test equipment is expected to remain robust, driving market expansion.
The aviation test equipment market in the Philippines is on a growth trajectory due to several key drivers. The country`s expanding aviation sector necessitates rigorous testing and inspection of aircraft systems to ensure safety and compliance with international standards. The increasing complexity of modern aircraft systems and avionics requires sophisticated testing equipment, further boosting the demand for such technology. Additionally, the growing focus on enhancing maintenance and repair capabilities within the Philippines aviation industry is propelling the adoption of advanced aviation test equipment. As airlines and maintenance providers prioritize operational reliability, the market for aviation test equipment is expected to witness sustained growth.
The Philippines aviation test equipment market outlook is not without its challenges. One significant challenge is the need for continuous technological advancement to keep up with evolving aviation technologies. Test equipment must be updated regularly to accommodate newer aircraft systems and components. Moreover, the market might face issues related to skilled personnel who can effectively operate and maintain these complex testing systems.
The Philippines aviation test equipment market is poised for expansion in the post-pandemic landscape. The aviation industry`s recovery, albeit gradual, has brought attention to the importance of accurate testing and maintenance procedures. As airlines and aircraft operators focus on ensuring the airworthiness of their fleets, the demand for aviation test equipment is expected to rise. The market is likely to experience steady growth as stakeholders prioritize safety and efficiency in the aviation sector.
The aviation test equipment market in the Philippines has witnessed significant advancements in line with the technological progress of the global aviation industry. Notable players such as Avionics Test Equipment, AeroTest, and Precision Aviation Group dominate this sector. These companies provide cutting-edge testing solutions for aircraft systems, avionics, and communication equipment, contributing to the overall safety and reliability of the Philippines aviation infrastructure.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Aircraft Aftermarket Parts Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, 2021 & 2028F |
3.3 Philippines Aircraft Aftermarket Parts Market - Industry Life Cycle |
3.4 Philippines Aircraft Aftermarket Parts Market - Porter's Five Forces |
3.5 Philippines Aircraft Aftermarket Parts Market Revenues & Volume Share, By Parts Type, 2021 & 2028F |
3.6 Philippines Aircraft Aftermarket Parts Market Revenues & Volume Share, By Component Type, 2021 & 2028F |
3.7 Philippines Aircraft Aftermarket Parts Market Revenues & Volume Share, By Aircraft Type, 2021 & 2028F |
4 Philippines Aircraft Aftermarket Parts Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Philippines Aircraft Aftermarket Parts Market Trends |
6 Philippines Aircraft Aftermarket Parts Market, By Types |
6.1 Philippines Aircraft Aftermarket Parts Market, By Parts Type |
6.1.1 Overview and Analysis |
6.1.2 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Parts Type, 2018 - 2028F |
6.1.3 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By MRO Parts, 2018 - 2028F |
6.1.4 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Rotable Replacement Parts, 2018 - 2028F |
6.2 Philippines Aircraft Aftermarket Parts Market, By Component Type |
6.2.1 Overview and Analysis |
6.2.2 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Engine, 2018 - 2028F |
6.2.3 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Airframe, 2018 - 2028F |
6.2.4 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Interior, 2018 - 2028F |
6.2.5 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Cockpit Systems, 2018 - 2028F |
6.2.6 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Others, 2018 - 2028F |
6.3 Philippines Aircraft Aftermarket Parts Market, By Aircraft Type |
6.3.1 Overview and Analysis |
6.3.2 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Narrow-body, 2018 - 2028F |
6.3.3 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Wide-body, 2018 - 2028F |
6.3.4 Philippines Aircraft Aftermarket Parts Market Revenues & Volume, By Regional Aircraft, 2018 - 2028F |
7 Philippines Aircraft Aftermarket Parts Market Import-Export Trade Statistics |
7.1 Philippines Aircraft Aftermarket Parts Market Export to Major Countries |
7.2 Philippines Aircraft Aftermarket Parts Market Imports from Major Countries |
8 Philippines Aircraft Aftermarket Parts Market Key Performance Indicators |
9 Philippines Aircraft Aftermarket Parts Market - Opportunity Assessment |
9.1 Philippines Aircraft Aftermarket Parts Market Opportunity Assessment, By Parts Type, 2021 & 2028F |
9.2 Philippines Aircraft Aftermarket Parts Market Opportunity Assessment, By Component Type, 2021 & 2028F |
9.3 Philippines Aircraft Aftermarket Parts Market Opportunity Assessment, By Aircraft Type, 2021 & 2028F |
10 Philippines Aircraft Aftermarket Parts Market - Competitive Landscape |
10.1 Philippines Aircraft Aftermarket Parts Market Revenue Share, By Companies, 2021 |
10.2 Philippines Aircraft Aftermarket Parts Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |