Global Aircraft Refurbishing Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Aircraft Refurbishing Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global aircraft refurbishing market report has been segmented on the basis of aircraft type, refurbishing type, and region.
Global Aircraft Refurbishing Market: Overview
Aircraft refurbishing is used for modification, upgradation, refurbishment of interior and exterior of an aircraft. It includes component, avionics systems, structural repairs, etc.
Global Aircraft Refurbishing Market: Dynamics
Increasing demand for fuel-efficient aircraft with reducing fuel consumption, drag, and adding winglets at the end of the wings is a key factor driving growth of the global aircraft refurbishing market. In addition, increasing the purchase of former airline aircraft for business purposes by end users is another factor expected to support growth of the global market. Increasing demand for narrow-body aircraft and demand for aircraft with the modified interior are also factors fueling growth of the target market. Furthermore, growing adoption of VIP aircraft is a factor expected to boost growth of the global aircraft refurbishing market over the forecast period.
However, aircraft refurbishing requires passing flammability and certification tests. For cabin refurbishing the recertification requirements are mandatory to be passed. These are some of the factors that could hamper growth of the global aircraft refurbishing market. Nevertheless, increasing use of lightweight materials for aircraft refurbishing can create high revenue opportunities for players in the target market.
Global Aircraft Refurbishing Market: Segment Analysis
Among the aircraft type segments, the narrow body aircraft segment is anticipated to register high growth in terms of revenue in the near future. Increasing demand for narrow-body aircraft for commercial applications is a factor propelling growth of this segment in the global market. In addition, narrow body aircraft allow passengers to walk around and stand with 2-abreast to 6-abreast seating, and lavatory is also a factor supporting growth of this segment.
Among the refurbishing type, the passenger to freighter segment is expected to register lucrative growth in terms of revenue over the forecast period. Increasing investment by airlines in passenger to freighter to make use of their fleet effectively is a factor fueling growth of this segment in the target market.
Global Aircraft Refurbishing Market: Regional Analysis
The market in North America is expected to dominate the global market in terms of revenue over the forecast period. Presence of prominent players is a key factor driving growth of the target market in this region. Additionally, the presence of a high number of commercial aircraft and private aircraft among end users is another factor expected to propel growth of the aircrafts refurbishing market in countries in this region.
The market in Europe is anticipated to account for second-highest share in terms of revenue in the near future. Market in Asia Pacific is anticipated to register high growth in terms of revenue in the near future, followed by Middle East & Africa and Latin America. Growing aviation sector and increasing demand for aircrafts are factors anticipated to augment growth of the target market in the next 10 years.
Global Aircraft Refurbishing Market Segmentation:
Segmentation by Aircraft Type:
- Very Light Aircraft
- Wide Body Aircraft
- Narrow Body Aircraft
- VIP Aircraft
Segmentation by Refurbishing Type:
- Commercial Aircraft Cabin Refurbishing
- Passenger to Freighter
- VIP Cabin Refurbishing Fixed-wing Aircraft
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- B/E Aerospace, Inc.
- Zodiac Aerospace
- TIMCO Aviation Services, Inc.
- SIA Engineering Company Limited
- Lufthansa Technik AG
- Gulfstream Aerospace Corporation
- Sabreliner Corporation
- Rose Aircraft Services Inc.
- AAR Corporation
- American Equipment Company, Inc.
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