Aircraft Refurbishing Market will reach at $2.3 bn by 2032 Upcoming Trends, Segmented by Type, Application, End-User and Region -B/E Aerospace, United Technology Corporation, Zodiac Aerospace, SIA Engineering, JAMCO America, Hong Kong Aircraft Engineering

Aircraft Refurbishing Market will reach at $2.3 bn by 2032 .Aircraft refurbishing market analysis reveals global demand will register year-on-year (YoY) growth of close to 6% throughout the forecast period of 2021 to 2031. Demand for retrofit fitting is estimated to increase at 5.7% CAGR, while that for VIP cabin refurbishing is slated at 6.7%.

In this study, Fact.MR offers insights about key factors surging demand for aircraft refurbishing. The report tracks global sales in 20+ high-growth markets, where North America leads the way by far, followed by Europe and South Asia & Pacific. The report also analyses the impact COVID-19 has had on the aviation industry in general, and the aircraft refurbishing market in particular.

Key Players Profiled In the Report Includes

The major players covered in the Aircraft Refurbishing 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 refurbishing market growth through 2031 is expected at a CAGR of 5.8%, with increase in first class and business class refurbishing by airlines owning to rising demand for passenger comfort.

Global aircraft refurbishing market is set to provide an absolute $ opportunity of US$ 3.2 Bn and grow 1.8X, reaching a market value of US$ 7.4 Bn by 2031.
Fact.MR estimates that demand for retrofit aircraft refurbishing is projected to grow 1.7X, while aircraft passenger seat refurbishing is set to grow 1.8X by 2031.
South Asia & Pacific is expected to garner an absolute $ opportunity of nearly US$ 577 Mn and rise at a CAGR of 6.7%.
According to Fact.MR, demand for wide body aircraft refurbishing is expected to grow at 6.2% CAGR through 2031.
Commercial aircraft cabin refurbishing is expected to progress at a CAGR of 5.7% over the next ten years.

Aircraft Refurbishing Market

Passenger to Freighter Refurbishing, VIP Cabin Refurbishing, Commercial Cabin Refurbishing.

Application as below

Wide Body Aircraft, Narrow Body Aircraft, Large Body Aircraft

Will Commercial Aircraft Cabin Refurbishing Demand Drive the U.S. Market?
North America has the largest aircraft fleet, and the size is growing due to high technology adoption in aircraft repair that is facilitating fast growth of new generation aircraft in the region. With increase in air travel and growth in air passenger traffic for tourism and business purposes, the need for aircraft refurbishing is also increasing across North America.

Commercial airlines are focusing on aircraft modifications for economy cabins to enhance their reputation among travellers in the economy class. The commercial cabin refurbishing market in North America is estimated to expand at a CAGR of 5.4% over the forecast period.

How is Demand for Aircraft Repair in Germany Shaping Up?
Germany has many aircraft maintenance and repair service providing companies, which makes it a lucrative market for aircraft interior modification. Western Europe has a high narrow body and wide body aircraft fleet size, which is one of the major reasons that Germany is a high-profit market for MRO providers.

Europe is a mature market due to high demand for air travel and significant growth in air passenger traffic from emerging regions such as the Middle East and Asia, which is fuelling demand for aircraft refurbishing in the country.

The market in Germany is estimated to progress at a CAGR of 5.6% through 2031.

Category-wise Insights
Why is Retrofit the Most Preferred Type of Aircraft Refurbishing?
Retrofit is the addition of new technology or features in aircraft for commercial or private planes. Retrofit aircraft refurbishing can extend the life of an aircraft and keep passengers safer, more connected, and better informed.

Increase in renovation of aircraft cabin interiors for high luxury and comfort is driving the market for retrofit refurbishing. This is one of the crucial factors contributing to market growth. The retrofit segment is estimated to expand at 5.7% CAGR through the forecast period.

What Makes Demand for Narrow Body Aircraft Refurbishing High?
Narrow body aircraft is a type of airplane that has a single aisle of seats with two to six seats per row. Many models of Boeing and Airbus have narrow body airplanes.

Narrow body aircraft are generally used for short- and medium-haul routes. These airplanes are generally used for domestic flights and need periodic refurbishing, which is contributing to rise in demand for narrow body aircraft refurbishing.

Owing to mounting demand for narrow body aircraft, their refurbishing is expected to garner an absolute $ opportunity of nearly US$ 1.8 Bn and projected to grow 1.7X by 2031.

What is Accelerating sales of VIP Refurbishing?
VIP aircraft refurbishment for private jet interiors and customization has been increasing since the past few years due to high demand for luxury and comfort while travelling. The interiors of VIP cabins are refurbished with modern technologies such as in-flight entertainment systems, LED lightings for greater level of style, and sophistication of aircraft interiors, along with latest styles of cabin headliners and window panels of unique designs.

VIP cabin refurbishing accounted more than 16% of all refurbishing type sales in 2021, and is estimated to rise at a CAGR of 6.7% over the decade

Key Points of Aircraft Refurbishing Market:

CAGR of the Aircraft Refurbishing market during the forecast period 2020-2026.

Accurate information on factors that will help in the growth of the market during the next six years.

Forecasts on future industry trends and changes in customer behavior.

Outlook of the market size and its contribution to the parent market.

The growth and current status of the market in the COVID-19 Pandemic Situation.

Analysis of the competitive landscape of the market and detailed information on the vendors.

A comprehensive description of the factors that will challenge the growth of market vendors.

The Aircraft Refurbishing global report indicates the status of the industry 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 Refurbishing Report Supports the Facts Below:

Industry Historical Demand Trends and Future Development Study - Aircraft Refurbishing Market Investors will make their business decisions based on historical and projected performance of the market Aircraft Refurbishing in terms of growth trends, revenue contribution, and Aircraft Refurbishing market growth rate. The report offers Aircraft Refurbishing industry analysis from 2016 to 2019, according to categories such as product type, applications/end-users and regions.

Market Drivers, Limits and Opportunities - The market is deeply evaluated by a current market situation such as market growth factors and constraints. In addition, here we can discuss the latest industry news and its impact on the Aircraft Refurbishing business.

Industry Chain Analysis - The study of industry chain structure incorporates details related to supplier's and buyer's information. Furthermore, the report classifies the top manufacturers of Aircraft Refurbishing business based on their production base, cost structure, Aircraft Refurbishing production process, spending on raw materials and labor outlay.

Future Project Expediency - The Aircraft Refurbishing market report includes a detailed explanation about the past and present trends of the market has been following along with its future analysis that may concern with the Aircraft Refurbishing 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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