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Growing Need to Reduce Aircraft Operating Costs Driving the Growth of the Asia Pacific PMA Parts Market - While the growth of air travel in the Asia Pacific is encouraging airlines to expand their fleet, constant hikes in jet fuel prices are adversely impacting their operating costs
Growing Need to Reduce Aircraft Operating Costs Driving the Growth of the Asia Pacific PMA Parts Market

 

NewswireToday - /newswire/ - Singapore, Singapore, 2008/03/27 - While the growth of air travel in the Asia Pacific is encouraging airlines to expand their fleet, constant hikes in jet fuel prices are adversely impacting their operating costs.

   
 
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Usage of parts manufacturer approval (PMA) parts in North America and Europe proved a significant amount of costs savings and this trend is accelerating the penetration of PMA parts in the region.

New analysis from Frost & Sullivan (aerospaceanddefense.frost.com), Strategic Analysis of Asia Pacific PMA Parts Market, finds that the market earned revenues of $0.95 billion in 2007 and estimates this to reach $1.60 billion in 2013.

"Although the penetration of PMA parts is still low when compared to other regions such as North America and Europe, rising aircraft operating costs are expected to ignite the penetration of PMA parts in the Asia Pacific region, notes Frost & Sullivan Consulting Analyst Syahril Shariff. "Part of the reason why many airliners do not accept PMA parts is that they do not understand how these are developed and how Federal Aviation Administration (FAA) regulations are ensuring their reliability and safety."

Due to the high cost of engine parts, material represents at least 60 percent of the maintenance and overhaul costs. As a result, many airlines are looking to make massive savings through the extensive use of PMA parts for their replacement instead of sourcing them to the original equipment manufacturers (OEMs). Moreover, PMA parts used in certain circumstances are found to be better than OEM parts, as normally PMA manufacturers use the latest technology to manufacture PMA parts, though not all manufacturers can produce the same quality.

However, customers in Asia Pacific are not as receptive to PMA parts as their North American and European counterparts. The reason for this is the general perception that PMA parts are insufficiently regulated and can compromise the performance and safety.

"Airlines and maintenance, repair and overhaul (MRO) companies – the main customers for PMA parts – are still of the perception that PMA parts are not as good and trusted as OEM parts," says Shariff. "Besides, regulatory policies and development cost have been the major obstacles for PMA parts adoption."

Given these challenges, PMA manufacturers will need to educate the region's aircraft operators about the proven reliability of PMA parts. They should also work directly with operators and maintain close cooperation with local aviation regulatory bodies.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the strategic analysis of Asia Pacific PMA parts market, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

Strategic Analysis of Asia Pacific PMA Parts Market, is part of the Aerospace and Defense Growth Partnership Service program, which also includes research in the following markets: Commercial Rotary MRO Market Assessment, which is due for publishing by December 2008.

All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting, and Career Best Practices empower clients to create a growth focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 30 offices on six continents.

Strategic Analysis of Asia Pacific PMA Parts Market P16F

 
 
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Growing Need to Reduce Aircraft Operating Costs Driving the Growth of the Asia Pacific PMA Parts Market

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