Aircraft Refurbishment Market Opportunities 2031
The refurbishment or modification of interior or the exterior of an aircraft has grown significantly. The prominent owners of airlines are increasingly being undertaken the retrofit of their aircraft. Increase in passenger traffic in narrow-body aircraft is demand for the internal renovation to extend the capacity is also boosting the market growth. Also, the government support in middle-east for refurbishing aircraft has fueled the aircraft refurbishment market growth.
MARKET SCOPE
The "Global Aircraft Refurbishment Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aircraft refurbishment market with detailed market segmentation by refurbishing services, aircraft type, and geography. The report provides key statistics on the market status of the leading Aircraft refurbishment market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of refurbishing services, the market is segmented as interior and exterior.
- On the basis of aircraft type, the market is segmented as commercial, military, and avionics.
MARKET DYNAMICS
Drivers:
- Increase in aircraft fleet size, the advent of advanced technologies, raised demand for revamping and maintenance cost are some of the key drivers of the aircraft refurbishment market.
- Also, the growing demand for low budget luxury aircraft driving the market. On the other hand, Increase in the requirement for VIP aircraft is creating an opportunity for the aircraft refurbishment market.
Restraints:
- Reduced demand for older refurbished parts hindering the aircraft refurbishment market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aircraft refurbishment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Aircraft refurbishment market in these regions
IMPACT OF COVID-19 ON AIRCRAFT REFURBISHMENT MARKET
The major players in aircraft refurbishment market includes Ascent Aviation Services, Crane Aerospace and Electronics, and Lufthansa Technik. The COVID-19 pandemic has severely impacted their businesses. Experts believe that COVID-19 could affect the aircraft refurbishment market, owing to factors such as manufacturing shutdown, the limited staff at manufacturing facilities, and shortage of equipment. However, the aircraft refurbishment market is expected to grow in the forecast period.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aircraft refurbishment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Aircraft refurbishment market in these regions
IMPACT OF COVID-19 ON AIRCRAFT REFURBISHMENT MARKET
The major players in aircraft refurbishment market includes Ascent Aviation Services, Crane Aerospace and Electronics, and Lufthansa Technik. The COVID-19 pandemic has severely impacted their businesses. Experts believe that COVID-19 could affect the aircraft refurbishment market, owing to factors such as manufacturing shutdown, the limited staff at manufacturing facilities, and shortage of equipment. However, the aircraft refurbishment market is expected to grow in the forecast period.
MARKET PLAYERS
The report covers key developments in the Aircraft refurbishment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Aircraft refurbishment market are anticipated to lucrative growth opportunities in the future with the rising demand for Aircraft refurbishment in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Aircraft refurbishment market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ASCENT AVIATION SERVICES.
- Raytheon Technologies Corporation
- Crane Aerospace and Electronics
- FACC AG
- Honeywell International Inc.
- GKN Aerospace Services Limited
- Jamco America, Inc.
- Lufthansa Technik
- Thales Group
- The NORDAM Group LLC
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aircraft Refurbishment Market - By Refurbishing Services
1.3.2 Aircraft Refurbishment Market - By Aircraft Type
1.3.3 Aircraft Refurbishment Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AIRCRAFT REFURBISHMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AIRCRAFT REFURBISHMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AIRCRAFT REFURBISHMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. AIRCRAFT REFURBISHMENT - GLOBAL MARKET OVERVIEW
6.2. AIRCRAFT REFURBISHMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AIRCRAFT REFURBISHMENT MARKET - REVENUE AND FORECASTS TO 2028 - REFURBISHING SERVICES
7.1. OVERVIEW
7.2. REFURBISHING SERVICES MARKET FORECASTS AND ANALYSIS
7.3. INTERIOR
7.3.1. Overview
7.3.2. Interior Market Forecast and Analysis
7.4. EXTERIOR
7.4.1. Overview
7.4.2. Exterior Market Forecast and Analysis
8. AIRCRAFT REFURBISHMENT MARKET - REVENUE AND FORECASTS TO 2028 - AIRCRAFT TYPE
8.1. OVERVIEW
8.2. AIRCRAFT TYPE MARKET FORECASTS AND ANALYSIS
8.3. COMMERCIAL
8.3.1. Overview
8.3.2. Commercial Market Forecast and Analysis
8.4. MILITARY
8.4.1. Overview
8.4.2. Military Market Forecast and Analysis
8.5. AVIONICS
8.5.1. Overview
8.5.2. Avionics Market Forecast and Analysis
9. AIRCRAFT REFURBISHMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Aircraft Refurbishment Market Overview
9.1.2 North America Aircraft Refurbishment Market Forecasts and Analysis
9.1.3 North America Aircraft Refurbishment Market Forecasts and Analysis - By Refurbishing Services
9.1.4 North America Aircraft Refurbishment Market Forecasts and Analysis - By Aircraft Type
9.1.5 North America Aircraft Refurbishment Market Forecasts and Analysis - By Countries
9.1.5.1 United States Aircraft Refurbishment Market
9.1.5.1.1 United States Aircraft Refurbishment Market by Refurbishing Services
9.1.5.1.2 United States Aircraft Refurbishment Market by Aircraft Type
9.1.5.2 Canada Aircraft Refurbishment Market
9.1.5.2.1 Canada Aircraft Refurbishment Market by Refurbishing Services
9.1.5.2.2 Canada Aircraft Refurbishment Market by Aircraft Type
9.1.5.3 Mexico Aircraft Refurbishment Market
9.1.5.3.1 Mexico Aircraft Refurbishment Market by Refurbishing Services
9.1.5.3.2 Mexico Aircraft Refurbishment Market by Aircraft Type
9.2. EUROPE
9.2.1 Europe Aircraft Refurbishment Market Overview
9.2.2 Europe Aircraft Refurbishment Market Forecasts and Analysis
9.2.3 Europe Aircraft Refurbishment Market Forecasts and Analysis - By Refurbishing Services
9.2.4 Europe Aircraft Refurbishment Market Forecasts and Analysis - By Aircraft Type
9.2.5 Europe Aircraft Refurbishment Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Aircraft Refurbishment Market
9.2.5.1.1 Germany Aircraft Refurbishment Market by Refurbishing Services
9.2.5.1.2 Germany Aircraft Refurbishment Market by Aircraft Type
9.2.5.2 France Aircraft Refurbishment Market
9.2.5.2.1 France Aircraft Refurbishment Market by Refurbishing Services
9.2.5.2.2 France Aircraft Refurbishment Market by Aircraft Type
9.2.5.3 Italy Aircraft Refurbishment Market
9.2.5.3.1 Italy Aircraft Refurbishment Market by Refurbishing Services
9.2.5.3.2 Italy Aircraft Refurbishment Market by Aircraft Type
9.2.5.4 United Kingdom Aircraft Refurbishment Market
9.2.5.4.1 United Kingdom Aircraft Refurbishment Market by Refurbishing Services
9.2.5.4.2 United Kingdom Aircraft Refurbishment Market by Aircraft Type
9.2.5.5 Russia Aircraft Refurbishment Market
9.2.5.5.1 Russia Aircraft Refurbishment Market by Refurbishing Services
9.2.5.5.2 Russia Aircraft Refurbishment Market by Aircraft Type
9.2.5.6 Rest of Europe Aircraft Refurbishment Market
9.2.5.6.1 Rest of Europe Aircraft Refurbishment Market by Refurbishing Services
9.2.5.6.2 Rest of Europe Aircraft Refurbishment Market by Aircraft Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Aircraft Refurbishment Market Overview
9.3.2 Asia-Pacific Aircraft Refurbishment Market Forecasts and Analysis
9.3.3 Asia-Pacific Aircraft Refurbishment Market Forecasts and Analysis - By Refurbishing Services
9.3.4 Asia-Pacific Aircraft Refurbishment Market Forecasts and Analysis - By Aircraft Type
9.3.5 Asia-Pacific Aircraft Refurbishment Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Aircraft Refurbishment Market
9.3.5.1.1 Australia Aircraft Refurbishment Market by Refurbishing Services
9.3.5.1.2 Australia Aircraft Refurbishment Market by Aircraft Type
9.3.5.2 China Aircraft Refurbishment Market
9.3.5.2.1 China Aircraft Refurbishment Market by Refurbishing Services
9.3.5.2.2 China Aircraft Refurbishment Market by Aircraft Type
9.3.5.3 India Aircraft Refurbishment Market
9.3.5.3.1 India Aircraft Refurbishment Market by Refurbishing Services
9.3.5.3.2 India Aircraft Refurbishment Market by Aircraft Type
9.3.5.4 Japan Aircraft Refurbishment Market
9.3.5.4.1 Japan Aircraft Refurbishment Market by Refurbishing Services
9.3.5.4.2 Japan Aircraft Refurbishment Market by Aircraft Type
9.3.5.5 South Korea Aircraft Refurbishment Market
9.3.5.5.1 South Korea Aircraft Refurbishment Market by Refurbishing Services
9.3.5.5.2 South Korea Aircraft Refurbishment Market by Aircraft Type
9.3.5.6 Rest of Asia-Pacific Aircraft Refurbishment Market
9.3.5.6.1 Rest of Asia-Pacific Aircraft Refurbishment Market by Refurbishing Services
9.3.5.6.2 Rest of Asia-Pacific Aircraft Refurbishment Market by Aircraft Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Aircraft Refurbishment Market Overview
9.4.2 Middle East and Africa Aircraft Refurbishment Market Forecasts and Analysis
9.4.3 Middle East and Africa Aircraft Refurbishment Market Forecasts and Analysis - By Refurbishing Services
9.4.4 Middle East and Africa Aircraft Refurbishment Market Forecasts and Analysis - By Aircraft Type
9.4.5 Middle East and Africa Aircraft Refurbishment Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Aircraft Refurbishment Market
9.4.5.1.1 South Africa Aircraft Refurbishment Market by Refurbishing Services
9.4.5.1.2 South Africa Aircraft Refurbishment Market by Aircraft Type
9.4.5.2 Saudi Arabia Aircraft Refurbishment Market
9.4.5.2.1 Saudi Arabia Aircraft Refurbishment Market by Refurbishing Services
9.4.5.2.2 Saudi Arabia Aircraft Refurbishment Market by Aircraft Type
9.4.5.3 U.A.E Aircraft Refurbishment Market
9.4.5.3.1 U.A.E Aircraft Refurbishment Market by Refurbishing Services
9.4.5.3.2 U.A.E Aircraft Refurbishment Market by Aircraft Type
9.4.5.4 Rest of Middle East and Africa Aircraft Refurbishment Market
9.4.5.4.1 Rest of Middle East and Africa Aircraft Refurbishment Market by Refurbishing Services
9.4.5.4.2 Rest of Middle East and Africa Aircraft Refurbishment Market by Aircraft Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Aircraft Refurbishment Market Overview
9.5.2 South and Central America Aircraft Refurbishment Market Forecasts and Analysis
9.5.3 South and Central America Aircraft Refurbishment Market Forecasts and Analysis - By Refurbishing Services
9.5.4 South and Central America Aircraft Refurbishment Market Forecasts and Analysis - By Aircraft Type
9.5.5 South and Central America Aircraft Refurbishment Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Aircraft Refurbishment Market
9.5.5.1.1 Brazil Aircraft Refurbishment Market by Refurbishing Services
9.5.5.1.2 Brazil Aircraft Refurbishment Market by Aircraft Type
9.5.5.2 Argentina Aircraft Refurbishment Market
9.5.5.2.1 Argentina Aircraft Refurbishment Market by Refurbishing Services
9.5.5.2.2 Argentina Aircraft Refurbishment Market by Aircraft Type
9.5.5.3 Rest of South and Central America Aircraft Refurbishment Market
9.5.5.3.1 Rest of South and Central America Aircraft Refurbishment Market by Refurbishing Services
9.5.5.3.2 Rest of South and Central America Aircraft Refurbishment Market by Aircraft Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AIRCRAFT REFURBISHMENT MARKET, KEY COMPANY PROFILES
11.1. ASCENT AVIATION SERVICES.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. RAYTHEON TECHNOLOGIES CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CRANE AEROSPACE AND ELECTRONICS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FACC AG
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HONEYWELL INTERNATIONAL INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GKN AEROSPACE SERVICES LIMITED
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. JAMCO AMERICA, INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. LUFTHANSA TECHNIK
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THALES GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. THE NORDAM GROUP LLC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.ASCENT AVIATION SERVICES.
2.Raytheon Technologies Corporation
3.Crane Aerospace and Electronics
4.FACC AG
5.Honeywell International Inc.
6.GKN Aerospace Services Limited
7.Jamco America, Inc.
8.Lufthansa Technik
9.Thales Group
10.The NORDAM Group LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.