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Global Aircraft Refurbishing Market Size, Share, and Forecast Analysis 2025-2029
Aircraft Refurbishing
What Are the Aircraft Refurbishing Market Size Forecast for 2025?
The market size for aircraft refurbishing has seen a significant increase in recent years. It is projected to escalate from $6.26 billion in 2024 to $6.65 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.2%. Factors responsible for this growth during the historical phase include the aging of aircraft fleets, retrofitting mandated by compliance regulations, advancements in avionics and cabin comfort, enhancement of passenger experience, increased fuel efficiency, as well as a surge in air travel demand.
What Is the Market Size Outlook for Aircraft Refurbishing Until 2029?
The value of the aircraft refurbishing market is predicted to experience robust expansion in the coming years, enlarging to $8.5 billion by 2029 with a compound annual growth rate (CAGR) of 6.3%. The surge for the projected timeframe will be driven by factors such as the need for sustainable practices, the incorporation of connectivity systems, the uptake of novel seating arrangements, improved safety measures, economic reasons and affordable options. The critical market trends for the projected phase include the digital transformation of cockpits and cabins, the use of eco-friendly materials, adoption of innovative cabin technologies, tailoring and individualization, along with digitalization in the modules of design and planning.
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What Are the Major Factors Driving Demand in the Aircraft Refurbishing Market?
The aircraft refurbishing market is predicted to surge with the upswing in air passenger traffic. The aviation passenger traffic, encompassing both domestic and international passengers of registered air carriers, is a measure of the volume of air travellers. The demand for aero refurbishment, essential for upholding the airworthiness and safety standards of an aircraft for its crew, passengers, and ground staff, is expected to rise with the increase in air passenger traffic. As an example, the Statistical Office of the European Union (Eurostat), situated in Luxembourg, recorded a total of 198 million air passengers in the first quarter of 2024 within the European Union, reflecting an 11.5% growth compared to the similar time frame in 2023. Hence, the augmentation in air passenger traffic propels the growth of the aircraft refurbishing market.
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How Are End-Use Segments Shaping the Aircraft Refurbishing Market Outlook?
The aircraft refurbishing market covered in this report is segmented -
1) By Aircraft Type: Very Light Aircraft, Wide Body Aircraft, Narrow Body Aircraft, Large Body Aircraft, VIP Aircraft
2) By Fitting Type: Retrofit, IFEC (In-flight Entertainment & Connectivity), Passenger Seats
3) By Refurbishing Service: Interior, Exterior
4) By End User: Government, Commercial
Subsegments:
1) By Very Light Aircraft: Single-Engine Very Light Aircraft, Multi-Engine Very Light Aircraft
2) By Wide Body Aircraft: Boeing 747, Airbus A350, Boeing 777
3) By Narrow Body Aircraft: Boeing 737, Airbus A320, Embraer E-Jet Series
4) By Large Body Aircraft: Boeing 767, Airbus A330, Boeing 787
5) By VIP Aircraft: Business Jets, Executive Airliners, Private Helicopters
What Are the Strategic Trends Transforming the Aircraft Refurbishing Market Landscape?
The primary trend gaining traction in the aircraft refurbishing market is the investment in revamping aircraft fleet interiors. The major players in this market are bolstering their positions by investing in aircraft refurbishments. For example, Emirates, an airline based in UAE, invested $2 billion in renovating their aircraft fleet interiors in August 2022. The aim of this investment is to upgrade their cabin interiors across all classes and improve the inflight experience for their customers.
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Who Are the Prominent Companies in the Aircraft Refurbishing Market by ?
Major companies operating in the aircraft refurbishing market include Autotrade Aviation Private Limited, Diehl Stiftung & Co KG, Duncan Aviation Inc., Gulfstream Aerospace Corporation, Hong Kong Aircraft Engineering Company Limited, Jamco America Inc., Jet Aviation AG, MAC Aero Interiors Inc., Rose Aircraft Services Inc., Intech Aerospace Inc., Greenpoint Technologies LLC, Nextant Aerospace Inc., The Boeing Company, Bombardier Inc., Pemco Conversions Inc., Lufthansa Technik AG, Singapore Technologies Engineering Ltd, AAR Corp., SR Technics Switzerland Ltd, Dassault Falcon Jet Corporation, RUAG Holding AG, HAECO Group, Comlux Aviation Services LLC, Flying Colours Corporation, StandardAero Inc., Textron Aviation Inc., Deer Jet Co Ltd., Constant Aviation LLC, JCB Aerospace LLC, JET MS LLC, VIP Completions Ltd., Associated Air Center, Basel Aero AG, SIA Engineering Company, Jet Support Services Inc., AMAC Aerospace Inc., Elliott Aviation, Midcoast Aviation Inc., West Star Aviation Inc.
Which Region Is Expected to See the Highest CAGR in the Aircraft Refurbishing Market?
North America was the largest region in the aircraft refurbishing market in 2024. The regions covered in the aircraft refurbishing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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