Aircraft Refurbishing Market to offer a healthy CAGR of 6.2% during 2020-25
February 11, 2020
Aircraft Refurbishing Market Overview:
Aircraft Refurbishing Market is likely to witness an impressive CAGR of 6.2% during the forecast period. Several factors are attributed to this sudden spurt in growth, which include airlines and business jet owners undertaking retrofit of their aircraft in a shorter cycle than in the initial days of civil aviation. The future of this market will majorly be the various types of work which entail the overall process of a chain of complete conversions or cabin refurbishing, these works are characteristically outsourced by the aircraft manufacturers or owners to centers known as center of completions.
Report Overview:
This new report from Stratview Research analyses the Aircraft Refurbishing Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Aircraft Refurbishing Market Segment Insights:
Naroow-Body aircraft: The growth engine
Based on the aircraft type, the market is segmented as narrow-body aircraft, wide-body aircraft, very large aircraft, and VIP. The narrow-body aircraft segment dominated the market in 2018, and is estimated to continue its dominance during the forecast period, driven by the growing demand for commercial narrow-body aircraft.
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https://www.stratviewresearch.com/toc/695/aircraft-refurbishing-market.html
Dominance of: Narrow-body aircraft and Passenger-to-fighter
Based on the aircraft type, the market is segmented as narrow-body aircraft, wide-body aircraft, very large aircraft, and VIP. The narrow-body aircraft segment dominated the market in 2018, and is estimated to continue its dominance during the forecast period, driven by the growing demand for commercial narrow-body aircraft.
Based on the refurbishing type, the market is segmented as passenger-to-freighter, commercial aircraft cabin refurbishing, and VIP cabin refurbishing. The passenger-to-freighter market is expected to depict the highest growth during the forecast period. The high growth is owing to investment by airlines in passengers-to-freighter conversions so as to utilize their fleet effectively and also save up money.
A highly/moderately/fragment consolidated Market
Some of the major players in the aircraft refurbishing market are B/E Aerospace, Gulfstream Aerospace Corporation, Lufthansa Technik, Rose Aircraft Services, Sabreliner Corporation, Sia Engineering Company, Timco Aviation Services, and Zodiac Aerospace, Inc.
Regional Hegemony of North America
In terms of regions, the North American region accounted for the largest share of the market for aircraft refurbishing in 2018, and is likely to maintain its dominance during the forecast period. The market is driven by the presence of key aircraft manufacturers, such as the Boeing Company (US) and Bombardier Inc. (Canada) in this region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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