Crane Aerospace Aftermarket size was valued at USD 397.56 million in 2024 and is estimated to reach USD 827.40 million by the end of 2037, expanding at a CAGR of 5.8% during the forecast period, i.e., 2025-2037. In 2025, the industry size of crane aerospace is evaluated at USD 420.62 million.
Aircrafts require frequent maintenance and replacement parts to maintain performance, safety, and efficiency. This leads to the growing demand for new and refurbished parts for maintenance, which is driving the crane aerospace aftermarket. The development of aeronautical engineering has significantly increased the need for updated parts that can be replaced. Advanced systems like automated and electronic controls are driving demand for high quality replacement parts. Aircraft cranes with improved engines, electronics, and materials make aircraft safer and more efficient. This creates a consistent demand for replacement parts that meet modern operational standards.
In order to reduce maintenance costs, Crane Aerospace & Electronics developed a wireless tire pressure monitoring system for safe operations by minimizing unscheduled maintenance and extending tire life. By Smartstem Tire Pressure Monitoring Systems (TPMS) the tire pressure and temperature data are directly displayed in the cockpit, or the technology can be used with a convenient ground maintenance tool. When brake temperature monitoring and Crane Tire and Brake Monitoring Systems (TBMS) are combined, detailed information regarding the tires and brakes is provided to minimize maintenance and reduce cost. This continuous evolution of aerospace technology creates an urgent need for aftermarket parts that support the latest advancements and ensure aircraft remain up-to-date and capable of meeting current operational standards.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.8% |
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Base Year Market Size (2024) |
USD 397.56 million |
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Forecast Year Market Size (2037) |
USD 827.40 million |
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Regional Scope |
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Product type (Replacement parts, Service)
Based on product, the replacement parts segment in crane aerospace aftermarket is estimated to grow at a significant share by 2037. The automotive market worldwide is expanding due to the increasing demand for replacement parts, which are necessary for maintaining and enhancing vehicle performance. The replacement segment consists of gears, shafts, control systems, motors, and brakes which are important in vehicle efficiency and safety. The demand for these parts is growing because vehicles need regular maintenance and reliable components such as gears, motors, and brakes. Additionally, regular updates and repairs are essential to maintain operational excellence.
Advanced systems like automated and electronic controls are driving demand for high-quality replacement parts. Companies are developing innovative components to improve vehicle safety and performance.
Crane Aerospace Aftermarket, By Application (Commercial Aviation, Military Aviation, and General Aviation)
The commercial aviation segment is likely to dominate crane aerospace aftermarket share of over 47% by 2037. Crane aerospace services ensure airplanes meet high safety and performance standards throughout their life. Crane aerospace provides special services for military aircraft, including troubleshooting, diagnostics, and repairs, ensuring safety and reliability.
In the commercial sector, the demand for air travel has increased in 2024 after the COVID-19 pandemic. The International Air Transport Association revealed that the demand for global air passenger traffic is expected to grow by 11.6% in 2024 compared with 2023.
Our in-depth analysis of the global crane aerospace aftermarket includes the following segments:
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Product |
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Application |
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Cranes |
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Sales Channel |
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North America Market Forecast
North America crane aerospace aftermarket is expected to capture revenue share of over 38% by 2037. A major driver of the sector’s growth is the growing military and commercial aviation sectors, the upgradation of aging fleets, and the use of AI and IoT for predictive maintenance. Companies are developing advanced solutions to cut costs and extend the life of aerospace parts. For instance, Columbus McKinnon introduced the crane monitoring system Intelli-Connect Mobile+ diagnostics and analytics app to enable quick and easy programming, maintenance, monitoring, and troubleshooting of overhead cranes and hoists. It provides critical information, such as signal monitors, equipment status, and energy use, to keep the overhead crane and hoists functioning effectively.
The U.S. crane aerospace aftermarket industry emphasizes air superiority and modernizing aging fleets, driving demand for advanced MRO services. The introduction of digitalization, including AI and IoT for predictive maintenance, reduces operational costs and extends the lifespan of aerospace parts. The crane aerospace aftermarket key players are developing innovative solutions to meet the growing demands of the aerospace and defense sector. For instance, Boeing and the U.S. government launched an initiative to promote the development and use of advanced sustainable aviation fuel in APEC (Asia-Pacific Economic Cooperation) economies. This sustainably produced jet fuel, reduces CO2 emissions by up to 85% as compared to petroleum, and is essential for reducing climate impact caused by the aviation sector. This initiative supports ICAO's (International Civil Aviation Organization) and the civil aviation industry’s goal of net-zero carbon emissions by 2050.
For instance, an AI-equipped aircraft can prevent any maintenance, repair, and overhaul issues as it fetches extra maintenance costs. The use of AI in aircraft uses historical data to determine patterns in engine overheating events. Hence, if overheating occurs, the temperature and speed sensors recognize that the engine was operating above 475 knots during periods when the outdoor temperature was above 80 degrees. Hence, through machine learning informed by data-collecting sensors, the AI-equipped aircraft builds an understanding of the conditions that surround the overheating events. Therefore, whenever an aircraft travels in above 80-degree temperatures, the AI-equipped aircraft can respond to speed increasing 475 knots by predictively executing a command to notify pilots of the possible maintenance issue and restrict speed at 470 knots to confirm the safe functioning of the engine.
APAC Market Analysis
Asia Pacific is one of the fastest-growing regions due to expanding commercial aviation and rising defense budgets. Markets like China and India lead with large fleets and focus on modern repair and overhaul services. The Asia Pacific region is witnessing a huge demand for sustainable aviation solutions, driven by environmental concerns and regulations. As these factors continue to drive growth and innovation, the APAC market will play an important role in the global aerospace aftermarket. As per reports, India is the seventh-largest civil aviation market in the world. According to IATA, India will become the world’s third-largest by 2026, representing a significant expansion scope for MRO facilities in India. Almost 90% of maintenance, repair, and overhaul requirements in India are currently dealt with through imports.
The crane aerospace aftermarket in China is experiencing steady growth, supported by various factors such as increasing demand for replacement parts and maintenance. The top key player Crane Aerospace & Electronics has signed an agreement with GAMECO for repairing crane products in China. Under this agreement, GAMECO will serve as an authorized repair station in China for several Crane products including Boeing aircraft fuel pumps, engine fuel flowmeters, brake control wheel speed transducers, and control valves.
The growth of the crane aerospace aftermarket segment is driven by factors such as increasing aircraft fleet size, aging aircraft fleet, technological advancements, focus on defense aviation, regulatory compliance, strategic partnerships, global presence, sustainability and lifecycle management, growing demand for AOG support, and emerging new markets.
Major key players operating in the crane aerospace aftermarket are:
Author Credits: Shweta Patidar
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