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Power by the Hour Market 2020 |Major Key Players: ExxonMobil, Chevron, British Petroleum (BP), Shell, Gazprom, Vitol, World Fuel Services, Mercury Air Group, Virent, Inc.

04-23-2020 09:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: DecResearch.com

Power by the Hour Market

Power by the Hour Market

Technological advancements such as AI and AR/VR are expected to bolster power by the hour market share during the assessment period of 2019-2025. Dynamic growth witnessed in market is mainly credited to unprecedented demand for passenger traffic and cargo movement from APAC countries, along with sublime aircraft deliveries across the globe.

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Soaring demand for fuel-efficient aircraft engines is set to augur well for power by the hour market expansion. Leading companies are increasingly focusing on offering long-term engine maintenance contracts to airlines. For instance, JetSMART inked a 12-year contract with Pratt and Whitney meant for the proper maintenance of GTF engines for the 85-firm order of AirbusA320neo aircraft family. The company is set to offer services under the EngineWise program that will offer a flexible maintenance option to the airline.

Growth Drivers of Power by the Hour Market:
1. Rise in air traffic in Asia Pacific
2. Rising transparency between industry players and customers
3. Strategic shift from product oriented to service-oriented approach
4. Stringent government regulations for maintaining operational quality
5. Introduction of Aerospace 4.0

Rise in demand for modification and upgradation of new as well as existing airplane fleet is supplementing the heavy maintenance segment growth. The advent of highly optimized aircraft engines along with the increasing need for lightweight components is anticipated to propel power by the hour market.

Escalating demand for next-generation wide-body airplane in North America and Europe could positively influence the heavy maintenance segment over the coming years.

In fact, AirAsia X recently extended its agreement with AFI KLM E&M to maintain its latest A330neo aircraft. As per the extended contract, the company would offer repair services and component pools to the airline. Also, it would help with all logistics related services for a number of its major components.

North America power by the hour market share will observe a significant growth owing to the increase in the demand by the airlines for new long-range aircraft as well as the modification of the existing aircraft fleet. The region is home to the largest number of domestic and international airports, which significantly boosts its contribution towards the growth of associate industries.

The presence of important manufacturers of engine & components along with some major aircraft and maintenance service providers in the U.S. will support the growth of the regional power by the hour market over the analysis time period. With higher requirements for wide body aircraft that should be more fuel-efficient, aviation sector is witnessing consistent advancements in manufacturing processes and component efficiency.

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Company profiled in power by the hour market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ExxonMobil
2. Chevron
3. British Petroleum (BP)
4. Shell
5. Gazprom
6. Vitol
7. World Fuel Services
8. Mercury Air Group
9. China Aviation Oil
10. Reliance Petroleum
11. Indian Oil Corporation Limited
12. Bharat Petroleum Corporation Limited (BPCL)
13. HPCL
14. Virent Inc.

Some Points From Table Of Content: -

Chapter 6. Power by the Hour Market, By Platform
6.1. Key trends, by platform
6.2. Commercial aviation
6.2.1. Market estimates and forecast, 2014 - 2025
6.2.2. Narrow body aircraft
6.2.2.1. Market estimates and forecast, 2014 - 2025
6.2.3. Wide body aircraft
6.2.3.1. Market estimates and forecast, 2014 - 2025
6.3. Business jet
6.3.1. Market estimates and forecast, 2014 - 2025
6.4. Commercial helicopter
6.4.1. Market estimates and forecast, 2014 - 2025

Chapter 7. Power by the Hour Market, By Application
7.1. Key trends, by application
7.2. Line maintenance
7.2.1. Market estimates and forecast, 2014 - 2025
7.3. Heavy maintenance
7.3.1. Market estimates and forecast, 2014 - 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/power-by-the-hour-market

Contact Us:
DecResearch.com
Website: - https://www.decresearch.com/
Email: info@decresearch.com

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