PitchBook：2025商用航空零部件领域市场投资机会研究报告（英文版）（17页）.pdf

1、ANALYST NOTE:THE COMMERCIAL AEROSPACE PARTS OPPORTUNITY 1Institutional Research GroupJim Corridore Lead Analyst,Industrials Published on December 23,2025ContentsINDUSTRY RESEARCHThe Commercial Aerospace Parts Opportunity Deals,drivers,and PE investment thesisPitchBook is a Morningstar company provid

2、ing the most comprehensive,most accurate,and hard-to-find data for professionals doing business in the private markets.Key takeaways 1Commercial aerospace parts in focus 2Top PE deals in 2025 3Top exits 4PE has a strong role in commercial aerospace parts 4Total market:How big is the commercial aeros

3、pace parts market?6Components:What actually goes into an aircraft and where the value sits 7How these businesses make money 11What drives profits in this sector?13Boeing,Airbus,and the program lens 14Geography and supply chain patterns 14Risks 15Key takeaways Commercial aerospace parts are big,growi

4、ng,and PE friendly:The sector is a large global ecosystem of specialized manufacturers with attractive fundamentals:long aircraft lifetimes,strong air traffic growth,big OEM backlogs,and many niche suppliers.PE deal activity has been strong and is accelerating:Through Q3 2025,there were 90 commercia

5、l aerospace parts deals worth about$10.1 billion.This compares with 102 deals worth$12 billion in all of 2024 and 79 deals worth$7.1 billion in 2023.Exits have been slower but should improve with better conditions:Only 10 exits are listed for 2025 so farreflecting the broader PE exit logjambut lower

6、 rates,better Boeing supply chain performance,and significant dry powder should support more exits in 2026 as sponsors recycle aging portfolios.The PE playbook is buy-and-build plus operational improvement:The typical strategy is to buy a platform with good OEM or tier-one relationships and sole-sou