The global aircraft refurbishing market size reached USD 4.55 Billion in 2020 and is expected to register a revenue CAGR of 5.6%, during the forecast period, according to latest analysis by Emergen Research.
Steady increase in demand for attractive interior designs along with development of in-flight entertainment systems is a key factor driving market revenue growth. Rising competition among domestic and international airline carriers and need to comply with various standards, drive brand value, and offer more enhanced flight experience are some key factors resulting in refurbishing of aircraft and installation or more attractive interior design.
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Increasing focus on more advanced and efficient and enhanced travelling experience has been resulting in opening up of new and more lucrative revenue opportunities for players in the aircraft refurbishing industry. Interiors, including cabins and cockpits, are restructured and redesigned during refurbishment, and these processes provide additional benefits, including reduced operational costs and improved end-user travel experience.
Aircraft refurbishing service providers continue to explore more efficient and cost-effective, and visually appealing ways of refurbishing aircraft. In addition, consumer electronics are also integrated and repackaged as in-flight entertainment system components. Because these electronic components have a limited lifespan, aircraft refurbishment plays a crucial role in keeping these components ahead of the competition and avoid obsolescence.
The report projects the market is anticipated to grow at a significant rate owing to rapid advancements and technological developments in the sector. The report offers strategic recommendations to businesses and investors to capitalize on the lucrative growth opportunities. The report further provides a comprehensive analysis of the competitive landscape and provides complete coverage with regard to company profiles, product portfolio, revenue generation, financial standing, and market position. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others.
The Global Aircraft Refurbishing Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Aircraft Refurbishing market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Emergen Research has segmented the global aircraft refurbishing on the basis of aircraft type, refurbishing type, applications, fitting type, and region:
Aircraft Type Outlook (Revenue, USD Billion; 2018–2028)
Narrow Body Aircraft
Wide Body Aircraft
Large Body Aircraft
Refurbishing Type Outlook (Revenue, USD Billion; 2018–2028)
Applications Outlook (Revenue, USD Billion; 2018–2028)
Passenger To Freighter
Fitting Type Outlook (Revenue, USD Billion; 2018–2028)
Some major companies in the global market report include Hong Kong Aircraft Engineering Company Limited, Singapore Technologies Engineering Aerospace, Lufthansa Technik AG, AAR Corporation, Rolls Royce Holdings PLC, SIA Engineering Company Limited, Delta TechOps, SR Technics Switzerland AG, Turkish Technic, and MRO Holdings, Inc.
Objectives of the Report:
Study of the global Aircraft Refurbishing market size by key regions, types, and applications with reference to historical data (2016-2018) and forecast (2021-2028)
Industrial structure analysis of the Aircraft Refurbishing market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Aircraft Refurbishing market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Aircraft Refurbishing market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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