Higher International Acceptance of FAA Parts Manufacturer Approval to Drive Growth in the World PMA Components Market, According to New Report by Global Industry Analysts, Inc
San Jose, California (PRWEB) April 20, 2012
Adhere to us on LinkedIn As a combined design and production approval for components and components in the aircraft aftermarket, the number of applications for obtaining PMA from the Federal Aviation Administration (FAA) is steadily on the rise. Offered the lucrative opportunities in the aircraft aftermarket and the growing competitiveness and emphasis on high quality, elements manufacturers are increasingly seeking the coveted airworthiness certification from FAA for safety and good quality assurance. Expanding awareness more than the reliability, top quality, durability and price positive aspects supplied by PMA components is top to increased acceptance of PMA components worldwide, which in turn in generating possibilities for the international community to create high good quality, secure PMA components. Against this backdrop, there continues to be a steady improve in the number of FAA-authorized Components Manufacturer Approval (PMA) firms in Asia. Also, increased outsourcing of MRO operations to Asia Pacific, as a result of rising financial and competitive pressures in created nations and low expense labor in Asian nations, is helping drive the dynamics of the PMA components industry in the region.
Growth in the PMA authorized components market place, in the upcoming years, will be driven by rising average life of aircrafts and the ensuing possibilities in the aftermarket designed by maintenance needs. PMA engine parts in the MRO sector are poised to record the maximum gains, offered that engine upkeep is evolving into a key business worldwide with spending on engine upkeep accounting for over 40% of total annual MRO spends. The increase in the number of operational aircrafts and in the average flying hours per aircraft and the ensuing rise in engine utilization will continue to generate opportunities for aircraft engine MRO with engine overhaul activities trickling down as potential sales opportunities for PMA parts. Demand for PMA parts will also increase in sync with the developing focus of airline firms on price efficiencies. PMA parts, in this regard, are less costly than OEM merchandise as PMA provides far better economies of scale than original manufacturing. PMA brings about substantial savings in material charges, and these savings lower the costs of PMA merchandise for buyers and increase the profit margins for airline operators. The future will continue to witness an explosion in the number and kinds of PMA parts offered to the consumer. With the sophistication in new generation aircraft models, comes complexly designed elements, which need PMA components to be equally scalable and reliable. Innovation in new technologies in manufacture of PMA components will assist benefit the PMA market place, as managing and understanding sophisticated mechatronic systems becomes less difficult.
Given that aftermarket sales in the aerospace market are closely tied to air targeted traffic trends, aftermarket suppliers in the commercial aerospace sector in Europe presently stay nervous over the play out of the sovereign debt crisis drama. Offered the but mixed signals emanating from the handling of the regions debt crisis, sentiments in the PMA parts market continues to swing between hope and issues. At the pessimistic finish of the spectrum, bearish industry outlook indicate that in the occasion of an escalation in the severity of the crisis, the ensuing declines in air visitors and capacity surpluses will most likely result in stringent management of inventories such as inventory destocking, and delays in implementation of upkeep, repair, and overhaul applications. This thereby would negatively influence the PMA components industry. There also exist fears over austerity measures likely to be initiated to counter the crisis, since austerity measures such as increased taxes, freeze on salaries in the public sector and lesser access to credit, will influence leisure travel. Weakening of trade in Europe could also likely outcome in lower load elements as exporters and importers shift to other more affordable modes of cargo transport. Restricted visibility surrounding the sovereign debt woes, and the prolonged confusion more than the appropriate measure to include the harm, is expected to heighten the risk of attainable reduction in both airline passenger and cargo capacity growth. This in turn will improve the number of parked aircrafts thus yielding a detrimental influence on the PMA parts marketplace.
Even though no straightforward and immediate solutions exist for Europes macroeconomic imbalances, Europe remains a wildcard with the financial well being of the region forecast to be the sum of the solutions adopted to resolve the crisis. Although the potential outcomes of the crisis stay several, baseline marketplace sentiments at the moment accumulate at the optimistic finish of the spectrum. Existing financial information that leaves room for hope contain Germanys relative resilience in handling the euro zone crisis, which is helping strengthen self-confidence levels. Heartening financial information such as comparatively lower levels of unemployment, better trade surplus accounts, and stable industrial output and manufacturing indices, indicate that the real German economic climate has not yet been impacted by the crisis as feared. Also forced austerity measures implemented in Greece to decrease the countrys widening deficits, are less most likely to be adopted in comparatively stronger economies with lower debt loads like in Germany, Spain and Italy. This is mainly due to the fact of the growing acceptance of the counterproductive implications of such a technique on GDP growth in an economic climate. In addition, year 2011 ended on an encouraging note with tourism efficiency, as indicated by the level of airline bookings and hotel occupancy rates, posting encouraging growth. Airline capacity in Europe as a result increased in 2011 as was mirrored by the boost in available seat kilometers. Interestingly, political conflicts and unrest in Middle East and Northern Africa is re-channeling tourist visitors to Southern Europe. Also, the depreciation of the Euro amidst the pressures exerted by the eurozone debt drama is expected to positively benefit tourism in Europe with the number of middle class Asian tourists to the region poised to improve. Paradoxically, the weak financial climate will put PMA items in the limelight, offered its inherent cost effectiveness. The PMA parts market place in Europe is consequently expected to hold up in the year 2012 regardless of the debt crisis.
As stated by the new market study report on PMA Parts, Airframe PMA Parts represents 1 of the fastest developing segments trailing a projected CAGR of 9.six% over the analysis period 2009 by way of 2017.
Key players in the international marketplace consist of Able Engineering & Component Services Inc, ADpma LLC, Aircraft Spruce and Specialty Organization, Belac LLC, C&D Zodiac Inc, GM Nameplate, HEICO Corporation, Jet Parts Engineering Inc, KAPCO, McFarlane Aviation Inc, Pratt & Whitney Aircraft Organization, Rapco Fleet Support Inc, Rotair Industries Inc, Triumph Group Inc., Wencor Inc., among other people.
The research report titled PMA Components: A Global Strategic Enterprise Report announced by Global Industry Analysts, Inc., offers a complete evaluation of market trends, problems, drivers, firm profiles, mergers, acquisitions and other strategic sector activities. The report provides market place estimates and projections (in US$ Million) for major geographic markets including the United States, Europe, and Rest of Globe. Product segments analyzed incorporate Airframe, Engine, Line, and Component.
For far more specifics about this complete market place analysis report, please pay a visit to
About Global Sector Analysts, Inc.
Global Sector Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market place research. Founded in 1987, the company at the moment employs more than 800 people worldwide. Annually, GIA publishes more than 1300 complete-scale research reports and analyzes 40,000+ marketplace and technologies trends whilst monitoring a lot more than 126,000 Organizations worldwide. Serving more than 9500 client