Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The global aircraft maintenance, repair and overhauling services market is expected to decline from $70.2 billion in 2019 to $68 billion in 2020 at a compound annual growth rate (CAGR) of -3.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $78.5 billion in 2023.

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Asia Pacific was the largest region in the global aircraft maintenance, repair and overhauling services market, accounting for 37% of the market in 2019. North America was the second largest region accounting for 23% of the global aircraft maintenance, repair and overhauling services market. Africa was the smallest region in the global aircraft maintenance, repair and overhauling services market.

The prominent players in the global Aircraft Maintenance, Repair and Overhauling Services market are:

Honeywell Aerospace, AAR Corporation, Air France Industries KLM Engineering & Maintenance; Airbus SAS; The Boeing Company

Market Segmentation by Region:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America

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Global Aircraft Maintenance, Repair and Overhauling Services Market Overview

Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve safety, productivity and quality of aircrafts. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision making. These technologies optimize manufacturing operations and costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases lifecycle of parts and reduces maintenance costs. Boeing has successfully built machine-learning algorithms for aircraft designing and to automate factory operations.

The aircraft maintenance, repair and overhauling services market consists of sales of aircraft maintenance, repair and overhauling services by entities (organizations, sole traders and partnerships) that maintain, repair and overhaul military and commercial aircraft.

Furthermore, Global Aircraft Maintenance, Repair and Overhauling Services Market following points are involved along with a detailed study of each point: –

– Global Aircraft Maintenance, Repair and Overhauling Services Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Global Aircraft Maintenance, Repair and Overhauling Services Market competition by Manufacturers (2020-2026)

– Production and Consumption by Regions

– Complete profiling and analysis of Manufacturers (2020-2026)

– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Global Aircraft Maintenance, Repair and Overhauling Services Market Effect Factors Analysis (2020-2026)

– Global Aircraft Maintenance, Repair and Overhauling Services Market Forecast (2020-2026)

– Global Aircraft Maintenance, Repair and Overhauling Services Market Research Findings and Conclusion

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyses key emerging trends and their impact on present and future development.

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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