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From Wikipedia

Aircraft or aviation parts are components manufactured to be used on aircraft. Many companies around the world specialize in making aircraft or aviation parts. Because of strict regulations on aircraft maintenance in most countries, aircraft parts must often be certified by regulatory agencies, and for this reason are often considerably more expensive than comparable uncertified parts.

Definition of the industry

The aviation parts industry is defined as establishments primarily engaged in manufacturing aircraft assemblies, aircraft engine components, equipment and parts. Aircraft part refurbishment establishments are also included in this industry. Establishments primarily engaged in manufacturing aeronautical instruments and electronic navigational equipment are not considered part of this sector and are covered in most aeronautical regulatory jurisdictions by other rules.

Internationally, the market for aircraft parts in the civil aviation sector is dominated by Boeing (60 per cent of the global market) and Airbus Industrie (30 per cent of the market). This oligopoly (Boeing and Airbus) controls the standards that aircraft parts suppliers must meet. In addition to this concentration of companies, the aerospace component industry and market is concentrated geographically in the United States (75 per cent), although Europe (14 per cent) and Japan (5 per cent) are important centres. The military aircraft parts industry is dominated by large aerospace and defence conglomerates in a small number of large, industrial countries such as the United States, France and the United Kingdom.

Aircraft hydraulic and pneumatic assemblies comprise 6.7% of total industry shipments. The split between civilian and military hydraulic and pneumatic assemblies is 78% for civilian and 22% for military applications. Aircraft power transmission equipment comprises 6.1% of total industry shipments. The split between civilian and military power transmission equipment is 56% for civilian and 44% for military applications.

The aviation parts business requires a high degree of service and local interaction with the airline companies. Parts are more customized, and are not the high volume commodity type of parts found in the automotive sector, for example. Because of the international scope of the market currency fluctuations, tariffs and similar import limitations, price controls and labor regulations can have a major impact on the sectors financial health. This is exacerbated by the fact that the industry is capital intensive compared to other manufacturing concerns.The Body of an airplane is called a fuselage.