Commercial Aircraft Maintenance Tooling Market Size Projected to reach US$ 2,020.46 Million to grow at a CAGR of 4.8% by 2028

According to the Insight Partners, latest report study on "Commercial Aircraft Maintenance Tooling Market Growth, Size, Global Analysis and Forecast to 2028," the market is expected to grow from US$ 1,456.40 million in 2021 to US$ 2,020.46 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028.

Factors such as the rising number of aircraft MRO hangars and increasing demand for vibration meters are driving the growth of the commercial aircraft maintenance tooling market. The construction of new aircraft MRO hangars and MRO bays is directly proportional to the demand for various maintenance tools, which is one of the critical catalyzers of the commercial aircraft maintenance tooling market. In addition, the continuous investments by companies in the commercial aircraft MRO industry in the expansion of their existing MRO hangars with new bays fuel the commercial aircraft maintenance tooling market growth.

A few key players operating in the global commercial aircraft maintenance tooling market and profiled in the market study are Hydro Systems KG, Red Box Tools, Stanley Black & Decker, Shanghai kaviation Technology Co. Ltd., STAHLWILLE Eduard Wille GmbH & Co. KG, Field International Group Limited, Henchman Products, Dedienne Aerospace, FRANKE-Aerotech GmbH, German Gulf Aviation Services, Tronair, and Snap-On Tools.

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The commercial aircraft maintenance tooling market is segmented on the basis of tool type, user, application, and geography. Based on tool type, the market is segmented into speed handle, wrenches, safety wire pliers, vibration meter, metalworking tools, NDT tools, and others. Based on user, the market is bifurcated into MRO service providers and airline operators. Based on application, the market is segmented into engine, airframe, landing gear, line maintenance, and others. Geographically, the global commercial aircraft maintenance tooling market is broadly segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East and Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America (Argentina, Brazil, and the Rest of SAM). In 2021, North America accounted for the significant share in the global market.
Surge in Number of Aircraft MRO Hangars to Drive Market Growth during Forecast Period
The number of aircraft fleets in commercial aviation has increased significantly over the years.

Airlines and regional carriers with a fleet of ATR and Embraer Commercial have been procuring a noteworthy number of aircraft fleets over the past few years. A surge in the procurement of various commercial aircraft fleets has led to a substantial rise in the number of aircraft MRO shops or hangars worldwide. The construction of new aircraft MRO hangars and MRO bays is directly proportional to the demand for various maintenance tools, which is one of the critical catalyzers of the commercial aircraft maintenance tooling market. In addition, the continuous investments by companies in the commercial aircraft MRO industry in the expansion of their existing MRO hangars with new bays fuel the commercial aircraft maintenance tooling market growth.

In 2019, Delta TechOps, the engineering department of Delta Airlines, opened a new jet engine MRO and test facility in Atlanta, US. Delta TechOps has a long-term contract with Rolls-Royce and Pratt & Whitney to maintain various types of engines produced by these two engine manufacturers. According to a press release by Delta TechOps, the new facility enables the company to service new versions of engines such as Rolls-Royce Trent 1000; Trent XWB; and Trent 7000, PW1500, and PW1100. Similar to Delta TechOps, a leader in Indian aviation, InterGlobe Aviation Ltd. (Indigo Airlines) signed a 20-year-agreement with Bangalore International Airport Limited (BIAL) in 2019 to build its second MRO facility in India. According to the company's statement, the new hangar is capable of servicing two narrow-body aircraft as well as engine MRO. The modern aircraft maintenance and repair work demands various advanced tools. Thus, with the continuous rise in construction of new commercial aircraft hangars, the demand for new commercial aircraft maintenance tools is on the rise, which is boosting the commercial aircraft maintenance tooling market growth.

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Key Findings of Study:

The global commercial aircraft maintenance tooling market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The market in Europe is subsegmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. The European commercial aviation sector is heavily concentrated with aircraft manufacturers, MRO service providers, component manufacturers, and maintenance tooling manufacturers. Germany and the UK hold the largest share in terms of concentration of commercial aircraft maintenance tooling manufacturers. A few of the key manufacturers of commercial aircraft maintenance tools in Europe are Hydro Systems KG, STAHLWILLE Eduard Wille GmbH & Co. KG, Dedienne Aerospace, and Red Box Tools. These players compete with each other to gain a competitive edge and attract their customers through their product lines. From the demand perspective, the adoption rate of maintenance tools for commercial aircraft is impressive in the current scenario. The trend of continuous adoption of maintenance tools will continue to grow over the upcoming years among the European aircraft MRO stakeholders. Also, MRO service providers such as Air France KLM Engineering, Lufthansa Technik, and British Airways Engineering Maintenance Repair and Overhaul Services have significantly massive MRO facilities. These MROs consistently procure enormous volumes of maintenance tools to meet customer demands continuously. This is one of the critical drivers of the commercial aircraft maintenance tooling market in Europe.

The emergence of COVID-19 has negatively impacted the entire commercial aviation industry. The restriction in aircraft operations during Q2 and Q3 of 2020 showcased a negative impact on the businesses of independent MRO service providers and airline operators with MRO facilities. Further, upon restarting the airline businesses, most airlines began operation with a minimum number of aircraft fleets. In addition, a substantial volume of aircraft fleet was sent to long-term storage as the demand declined post-re-opening of the airline business. This also hampered the businesses of MRO facilities. The negative impact on aircraft MRO business directly hindered the commercial aircraft maintenance tooling market, thereby showcased a negative year-on-year growth in 2020.

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