Press release
Aircraft Refurbishing Market : Passenger to freighter, Commercial Aircraft Cabin 2021-2031
According to a new report published by Allied Market Research, titled, "Aircraft Refurbishing Market," The aircraft refurbishing market was valued at $456.70 million in 2021, and is estimated to reach $932.5 million by 2031, growing at a CAGR of 7.2% from 2022 to 2031.In 2021, Asia-Pacific dominated the market in terms of revenue, followed by Europe, North America, and LAMEA. Initiatives taken by the governments toward the modernization of aviation sector and rise in air traffic in the region are expected to propel the growth of the aircraft refurbishing market during the forecast period.
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There are prominent key factors that drive the growth of the aircraft refurbishing market such as rise in operations in the commercial aviation, and increase in demand from emerging regions. The market economy is also responsible for the growth of the market. Emerging countries in the region, such as India and China, are experiencing significant increases in civil aviation markets due to increased demand for air travel. Thus, the aerospace sector is witnessing prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the aircraft refurbishing industry.
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KEY FINDINGS OF THE STUDY :
By refurbishing service, the exterior based segment is expected to register a significant growth during the forecast period.
By aircraft type, the wide body aircraft segment is expected to register a significant growth during the forecast period.
By type, the VIP cabin refurbishing segment is projected to lead the global Aircraft Refurbishing market.
By end use, the commercial segment is projected to lead the global Aircraft Refurbishing market.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The key players that operate in this aircraft refurbishing market are Autotrade Aviation Pvt. Ltd., AFI KLM E&M, Diehl Stiftung & Co. KG, Duncan Aviation Inc., Gulfstream Aerospace Corporation, Hong Kong Aircraft Engineering Company Limited, Jamco America, Inc., Jet Aviation AG, Lufthansa Technik AG, MAC Aero Interiors, Nextant Aerospace, Raytheon Technologies Corporation, Rose Aircraft Services, Inc., Sabreliner Aviation, Safran S.A., and SIA Engineering Company.
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About Allied Market Research :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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