Aircraft Refurbishing Market With Top Companies Diehl Stiftung. KG, Gulfstream Aerospace, Hong Kong Aircraft

Aircraft refurbishing is the process required to ensure the continuing soundness and safety of an aircraft. It includes inspection, overhaul, replacement, defect rectification, and embodiment modifications. Retrofit refurbishing gives a new look to the aircraft, which is comprised of constructing, renovating, and repairing cabin interiors, in order to comply with necessary requirements. Furthermore, it replaces lavatory, overhead bins, sidewalls liners, monuments, windows, cabin lighting, and carpet. In passenger seats refurbishing, the entire aircraft seating is replaced including, economy class, premium economy, first class, and business class. In VIP refurbishing, the entire VIP cabin is refurbished including replacements of seats, overhead bins, lavatory, monuments, etc. in the business class of the flight.

The main key players in the industry are-
B/E Aerospace, Inc., Diehl Stiftung & Co. KG, Gulfstream Aerospace, Ltd, Hong Kong Aircraft Engineering Company Limited, JAMCO America, Jet Aviation AG, Lufthansa Technik AG, Sabreliner Aviation LLC, Safran SA, SCI Cabin Interiors, SIA Engineering Co Ltd., United Technologies Corporation, and Zodiac Aerospace S.A.

What does all the regional segmentation cover? Can the country of specific interest be added?
Currently, the research report pays particular attention to the following regions:
North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Russia, Spain, etc.), South America (Brazil, Argentina, etc.) and Middle East and Africa (Saudi Arabia, South Africa, etc.)

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Premium economy class has been popular among travelers as it offers significant upgrade over regular economy class without high price of business class fare. Premium economy class is preferred by passengers as it offers more space and comfort, premium meals with complementary bar service, and priority check-in and baggage delivery at the airport. For instance, in 2016, American Airlines became the first U.S. carriers to provide premium economy cabin. Thus, it is expected to drive the market growth in the near future. Furthermore, major airlines around the world are introducing premium class section in their aircrafts for their customers. This, in turn, is expected to offer lucrative opportunities for refurbishment service providers to increase number of premium economy class seats for travelers. For instance, in 2015, Lufthansa Airline announced the installation of 3,600 premium economy seats on all Lufthansa's 106 long-haul aircrafts.

Increasing demand for VIP refurbishment of aircrafts is expected to propel the global aircraft refurbishing market over the forecast period
Asia Pacific, followed by North America is home to the largest population of high net worth individuals. This has supported growth of aerospace aftermarket albeit it is niche. Significant growth of this make has increased the demand for refurbishment and completion of cabin interiors of business and corporate jets. Moreover, VIP refurbishment is one of the most profitable businesses as the price for complete services including manufacturing, engineering, interior design, installation, and certification of custom interiors comes out to be really high. VIP cabins are comprised of lounge area, bedroom, first-class seats, and dining room. This, in turn, is expected to boost the market growth over the forecast period.

North America region dominated the global aircraft refurbishing market in 2018, accounting for 34.2% share in terms of value, followed by Europe, and Asia Pacific, respectively.

Companies that are in cargo shipping business are looking for refurbished passenger aircrafts as they cost around one-third of a freighter aircraft. A P2F conversion extends the aircraft's lifespan. Through this conversion, the companies transition airplanes into freighters, expanding economic life of the airplane after the useful operational service. Furthermore, any type of passenger plane can be converted into freighter, which extends its scope of this segment of the global aircraft refurbishing market.

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