May 1 (Reuters) - Parker-Hannifin ( PH ) reported a

third-quarter profit on Thursday that beat analysts' estimates

on the back of steady demand for aircraft parts and components.

The company, which supplies airframes and engine components

to Boeing ( BA ) and Airbus, is benefiting from a surge

in demand as planemakers ramp up production.

A shortage of new jets has also prompted airlines to fly

older aircraft that need more maintenance, boosting the need for

replacement parts.

On an adjusted basis, Parker-Hannifin ( PH ) earned $6.94 per share

in the third quarter, compared with analysts' average

expectation of $6.72, according to data compiled by LSEG.

Sales at the company's aerospace segment rose 11.6% to $1.57

billion. Total revenue fell about 2% to $4.96 billion, compared

with estimates of $4.99 billion.