MarketResearchFuture.com added New Report Named “Aircraft Heavy Maintenance Visits Market Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by Type (Airframe HMV, Engine HMV, Other Component HMV), by Aircraft Type (Fixed Wing (Wide-body, Narrow-body), & Rotary Wing), Platform (Commercial & Cargo) & by Region | Outlook to 2023” to its Database. The aircraft heavy maintenance visits market is estimated to witness a CAGR of more than 6% during the forecast period from 2018 to 2023.
Pune, India -- (SBWIRE) -- 06/11/2018 -- Market Scenario
Aircraft heavy maintenance visits (HMV) are the periodic inspections carried out on all commercial/civil airplanes after a certain amount of time or usage. In case of military aircraft, specific maintenance schedule is followed, which may or may not be similar to those of commercial/civil operators.
Global aircraft heavy maintenance visits market is estimated to witness a CAGR of more than 6% during the forecast period from 2018 to 2023
The key players in the aircraft HMV market are AAR (U.S.), Air France KLM E&M (France), Airbus S.A.S (France), Barnes Aerospace (U.S.), Delta TechOps (U.S.), EGAT (Taiwan), Honeywell International (U.S.), Lufthansa Technik AG (Germany), ST Aerospace (Singapore), SR Technics (Switzerland), and Turkish Technic, Inc. (Turkey).
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On the basis of type, the aircraft HMV market has been segmented into airframe HMV, engine HMV, and component HMV. Airframe maintenance is carried out at a lower unit cost. Low-cost maintenance is possible because of the increased usage of lightweight fiber materials and hybrid alloys in the new-generation aircraft. This provides better fatigue and erosion resistance than the materials that were used in the conventional aircraft. As a result, there is a lesser failure rate and lower wear and tear, which minimizes the requirement for the airframe maintenance.
In the engine HMV segment, advancements in engine technologies have led to the development of more fuel-efficient engines, which can operate at greater temperatures and high stresses. Such engines require highly skilled maintenance service providers to carry out maintenance on the advanced and complex engines parts. The complexity of the maintenance increases the cost associated with it. Engine maintenance visits are performed on a scheduled basis, which includes repair, maintenance, inspection, and preventive maintenance to restore the performance of the engine. Engine maintenance is often divided into floor visit overhaul work and Life-Limited Parts (LLP) maintenance work. In these maintenance visits, the engine is detached from the aircraft for a period and after maintenance, the engine is assembled to the aircraft, which results in high maintenance costs. Due to these reasons, the engine HMV market segment will contribute the largest share and will have a moderate rate of growth, during the forecast period.
Concurrently, the turboprop engines are expected to drop in fleet size and market share. It is expected that, there will be a decrease in the number of turboprop-powered aircraft, during the forecast period. Therefore, the HMV market for turboprop-powered aircraft will witness a slower growth as compared to the other aircraft.
Component maintenance is carried out on the shop floor. During component maintenance, parts removed from the aircraft are returned in serviceable conditions before they are reattached. Airlines are responsible for ensuring the maintenance services offered by the Maintenance, Repair, and Overhaul (MRO) service providers, adhere to the aviation safety regulations. The factors responsible for driving the growth of the aircraft component HMV market are the increasing MRO contracts, component MRO outsourcing, an easy readiness of spares, lower labor rates, and the increased flight frequencies.
On the basis of aircraft type, the market is segmented as fixed wing & rotary wing, fixed wing is further bifurcated as wide-body aircraft and narrow-body aircraft. Low-cost airline operators generally prefer narrow-body aircraft. Of late, due to the growth in air travel, Asia Pacific holds a major potential in the aircraft MRO market. The aircraft HMV market is growing at a rapid pace, owing to the growing number of MRO facilities in emerging countries, such as India, Indonesia, and China.
On the basis of platform, this market is segmented by cargo and commercial aircraft. Although the cargo aircraft fleet will play an important role in air service, its relative share with respect to the commercial airline fleet will decrease, over the next decade. This drop in the number of cargo airplanes is anticipated as the new passenger aircraft are also used for air cargo transportation. This has resulted in the aircraft manufacturers offering more cargo space in the commercial aircraft.
The North American region headed the global aircraft HMV market, while the other regions had moderate shares, in 2017. Due to the increasing passenger demand in Asia Pacific, the aircraft traffic in the region is expected to grow exponentially, in the next few years. It is also expected that Asia will operate nearly 40% of the total global aircraft fleet by the end of the forecast period. As a result, it is expected that the Asia Pacific region would witness the fastest growth, during the forecast period. Therefore, the global aircraft HMV market is estimated to witness a CAGR of more than 6% during the forecast period from 2018 to 2023.
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The report for Global Aircraft Heavy Maintenance Visits Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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