Moves by airlines to meet steadily increasing traffic demand have B/E Aerospace setting new financial records and forecasting more of the same near-term.

“The aerospace upcycle is in full swing,” CEO Amin Khoury said during the company’s second-quarter earnings call July 23. B/E Aerospace’s second-quarter results include a 10.7% improvement in revenue to $850.3 million, and a 29.8% increase in net profit to $92.4 million.

The new record figures were driven largely by an uptick in widebody deliveries and renewed interest in refurbishing the existing fleet to meet rising demand, Khoury explains.

The latest International Air Transport Association’s (IATA) figures show global passenger traffic grew 4.5% during the first six months of 2013, while capacity rose 3.4%. The world’s airlines are on track to post a record aggregate profit of $12.7 billion, IATA notes.

“It is beginning to appear that the time has come for airlines to judiciously add capacity back to the system,” Khoury says, adding that “new buy” aircraft generated 63% of the company’s second-quarter revenue.

Khoury notes that while any increase in passenger aircraft production benefits his company, B/E’s business thrives as widebody production rises. Khoury says a typical widebody contains 6-10% more B/E Aerospace product than a narrowbody, including both cabin products and consumables, such as fasteners, which the company also provides.

Aviation Week Intelligence Network’s Fleets database shows that Airbus and Boeing combined to deliver 120 widebody passenger aircraft in the first half of 2013, up 10 units from 2012’s first half, despite this year’s four-month hiatus in Boeing 787 deliveries.

B/E Aerospace’s Commercial Aircraft segment, featuring seats, galleys and lavatories, bolstered second-quarter revenue 9.9% to $431.2 million, while Consumables revenue was up 9.1%, to $312.7 million. Yet, the largest increase was recorded by the Business Jet unit, which posted a 19.3% increase in sales to $106.4 million.

Khoury says the business jet segment’s success is due to “super first-class” cabin work, noting that—like all other original equipment suppliers—his company is still waiting for a halt in the sector’s new-aircraft demand slide.

Across-the-board aftermarket revenues grew about 5% year-over-year in the quarter, and are trending slowly upward, Khoury says.

B/E Aerospace is projecting “continued strong bookings in 2013,” thanks to a “robust widebody aircraft delivery outlook,” existing orders from manufacturers, and a “modest” aftermarket recovery, Khoury says. The company expects “solid organic growth” in both commercial and consumables aftermarket revenues in 2014, he adds.