Pune, India -- (SBWIRE) -- 08/23/2018 -- Aircraft Refurbishing Market Scenario
The aircraft refurbishing solution mainly includes the complete or partial makeover of an aircraft. In aircraft refurbishing, various parts used for cabin and interior are made from different types of lightweight materials, such plastic, foam, carbon fiber, composite board, metal, and textile, to reduce the gross weight of an aircraft. Aircraft refurbishing, in general, includes component, structural, systems, and avionics repairs. While aircraft structural repairs include repairing of stringers, external aircraft body, bulkheads, formers, and other repairs, the component repairs involve the replacements of non-functional parts with fully functional components and complete overhaul.
The rising need to modify aircraft interiors has grown significantly, over the past few years, and is primarily driving the growth of the aircraft refurbishing market. This is due to the increasing luxury quotient of airline interiors, which increases the need for the partial or complete refurbishing of VIP cabins and commercial cabins. Of late, airline owners are focusing on improving and providing better cabin interiors, for a world-class experience to passengers and revamp the airline's reputation.
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In addition, the increasing demand for narrow-body aircraft is driving the market growth. Similarly, the increasing utilization of lightweight materials in aircraft refurbishing also fuels the market growth, as it decreases the gross weight of an aircraft, which result in fuel savings. The high initial investment in aircraft refurbishing is a major challenge to the market growth.
Key Players
The key players in the aircraft refurbishing market are :
- AAR (U.S.)
- Air France Industries KLM E&M (France)
- Ascent Aviation Services (U.S.)
- GKN (UK)
- Hong Kong Aircraft Engineering Company (China)
- Jamco America Inc. (U.S.)
- JCB Aero (France)
- Lufthansa Technik (Germany)
- SIA Engineering Company (Singapore)
- Singapore Technologies Engineering Ltd. (Singapore)
Segments and Geographic overview
The Aircraft Refurbishing Market has been segmented into aircraft type, refurbishing type, application, and region. By aircraft type, the market has been segmented into wide-body aircraft and narrow-body aircraft. As the demand for narrow-body aircraft is higher, as compared to wide-body aircraft, due to the increasing number of domestic air passengers, the market for narrow-body aircraft refurbishing is expected to grow at a higher rate during the forecast period.
By application, the market has been segmented into passenger to freighter, commercial cabin refurbishing, and VIP cabin refurbishing. The passenger to freighter segment of the market is expected to grow at the highest rate during the forecast period, because conversion of a passenger aircraft into a freighter plane, is a mode to extend the lifespan of an aircraft. This growth can also be attributed to the high investments by airline companies in passengers to freighter conversions, for effective usage of the fleet and cost savings.
The aircraft refurbishing market in North America is expected to witness the highest growth during the forecast period. The growth in this region is attributed to the large demand for aircraft refurbishing by several airline companies, including Alaska Airline, Hawaiian, Delta, Jet Blue, Frontier Airline; and private jet owners.
Therefore, the global aircraft refurbishment market is estimated to witness a CAGR of more than 6% during the forecast period, from 2018 to 2023.
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Scope Of Report
The report on the global aircraft refurbishing market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value and volume, and the technological, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objectives
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Supplies
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continues.....
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