Aircraft Refurbishment Market to Reach $2.3 Billion by 2032. Aircraft Refurbishment Market Analysis Reveals Global Demand to Record Nearly 6% Year-on-Year Growth (YoY) throughout the forecast period from 2021 to 2031. increase to 5.7% CAGR, while that of VIP cabin refurbishment is forecast at 6.7%.
In this study, Fact.MR offers insights into the key factors driving the growing demand for aircraft refurbishment. The report tracks global sales in more than 20 high-growth markets, with North America leading by far, followed by Europe and South Asia and the Pacific. The report also analyzes the impact that COVID-19 has had on the aviation industry in general, and on the aircraft refurbishment market in particular.
Key players profiled in the report include
The major players covered in Aircraft Refurbishment report are B/E Aerospace, United Technology Corporation, Zodiac Aerospace, SIA Engineering, JAMCO America, Hong Kong Aircraft Engineering, Sabreliner Aviation LLC, Gulfstream Aerospace, Lufthansa Technik AG, Jet Aviation AG, SCI Cabin Interiors, Diehl Stiftung & Co. KG
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Aircraft Refurbishment Market Growth to 2031 is expected to reach a CAGR of 5.8%, with an increase in first class and business class refurbishment by airlines driven by demand increasing passenger comfort.
The Global Aircraft Refurbishment Market is Expected to Offer an Absolute Dollar Opportunity of US$3.2 Billion and Grow 1.8x, Reaching a Market Value of US$7.4 Billion by 2031 .
Fact.MR estimates that the demand for refurbishment of modernized aircraft is expected to increase 1.7 times, while refurbishment of aircraft passenger seats is expected to increase 1.8 times by 2031.
South Asia and the Pacific is expected to generate an absolute dollar opportunity of nearly US$577 million and grow at a CAGR of 6.7%.
According to Fact.MR, demand for widebody aircraft refurbishments is expected to grow at a CAGR of 6.2% through 2031.
Commercial aircraft cabin refurbishment is expected to grow at a CAGR of 5.7% over the next ten years.
Aircraft Refurbishment Market
Passenger to Freighter Renovation, VIP Cabin Renovation, Commercial Cabin Renovation.
Application as below
Wide-body aircraft, Narrow-body aircraft, Large-body aircraft
Will Commercial Aircraft Cabin Refurbishment Demand Drive the US Market?
North America has the largest aircraft fleet, and its size is increasing due to the adoption of high technology in aircraft repair which is facilitating the rapid growth of next-generation aircraft in the region. With the increase in air travel and growth in air passenger traffic for tourism and business purposes, the need for aircraft refurbishment is also increasing across North America.
Commercial airlines are focusing on aircraft modifications for economy cabins to improve their reputation with economy class travelers. The North America commercial cabin refurbishment market is expected to grow at a CAGR of 5.4% during the forecast period.
How is the demand for aircraft repair in Germany developing?
Germany has many aircraft maintenance and repair companies, making it a lucrative market for aircraft interior modification. Western Europe has a large fleet of narrow-body and wide-body aircraft, which is one of the main reasons why Germany is a very profitable market for MRO providers.
Europe is a mature market due to strong demand for air travel and significant growth in air passenger traffic from emerging regions such as the Middle East and Asia, which is fueling demand for refurbishments planes in the country.
The market in Germany is expected to grow at a CAGR of 5.6% through 2031.
insights by category
Why is retrofit the most preferred type of aircraft refurbishment?
Modernization is the addition of new technologies or features in aircraft for commercial or private aircraft. Aircraft refurbishment can extend the life of an aircraft and keep passengers safe, connected and informed.
Rise in refurbishment of aircraft cabin interiors for high luxury and comfort is driving the refurbishment market. This is one of the crucial factors contributing to the growth of the market. The renovation segment is estimated to grow at a CAGR of 5.7% during the forecast period.
What makes the demand for narrowbody aircraft refurbishment high?
Narrow-body aircraft is a type of aircraft that has a single seating aisle with two to six seats per row. Many models of Boeing and Airbus have narrow-body aircraft.
Narrow-body aircraft are generally used for short and medium-haul routes. These aircraft are generally used for domestic flights and require periodic refurbishment, which contributes to the increase in demand for refurbishment of narrow-body aircraft.
Due to the growing demand for narrow-body aircraft, their refurbishment is expected to generate an absolute dollar opportunity of nearly US$1.8 billion and is expected to grow 1.7 times by 2031.
What is VIP Refurbishing Sales Boost?
Refurbishment of VIP aircraft for interiors and personalization of private jets has increased in recent years due to the high demand for luxury and comfort while traveling. VIP cabin interiors are upgraded with modern technologies such as in-flight entertainment systems, LED lighting for a greater level of style and sophistication of aircraft interiors, as well as the latest styles of headliners and trims. unique designs window panels.
Refurbished VIP cabins accounted for over 16% of all refurbished type sales in 2021 and is expected to grow at a CAGR of 6.7% over the decade
Key points of the Aircraft Refurbishment market:
Aircraft Refurbishment Market CAGR over the forecast period 2020-2026.
Accurate information on the factors that will contribute to the growth of the market over the next six years.
Forecasts of future industry trends and changes in customer behavior.
Prospects of market size and its contribution to the parent market.
The growth and current state of the market in the COVID-19 pandemic situation.
Market competitive landscape analysis and detailed vendor information.
A comprehensive description of the factors that will challenge the growth of market vendors.
The global Aircraft Refurbishment report indicates the industry status and regional and global basis with the help of graphs, diagrams and figures to make it easy and better understandable.
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The aircraft refurbishment report confirms the facts below:
Historical industry demand trends and future development study- Aircraft Refurbishment market Investors will make their business decisions based on historical and projected Aircraft Refurbishment market performance in terms of market trends. growth, revenue contribution and growth rate of the Aircraft Refurbishment market. The report offers an analysis of the Aircraft Refurbishment industry from 2016 to 2019, based on categories such as product type, applications/end users and regions.
Market Drivers, Limitations and Opportunities – The market is deeply assessed by a current market situation such as market growth factors and restraints. Additionally, here we can discuss the latest industry news and its impact on the Aircraft Refurbishment business.
Industry Chain Analysis – The study of industry chain structure incorporates details related to supplier and buyer information. Furthermore, the report categorizes leading manufacturers in the Aircraft Refurbishment business on the basis of their production base, cost structure, Aircraft Refurbishment production process, material expenditure raw materials and labor costs.
Future Project Opportunity – The Aircraft Refurbishment market report includes a detailed explanation about the past and present trends market has been following along with its future analysis that may concern with the Aircraft Refurbishment market growth .
Note – To provide a more accurate market forecast, all our reports will be updated prior to delivery considering the impact of COVID-19.
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