The global aircraft refurbishing market size reached USD 4.55 Billion in 2020 and is expected to register a revenue CAGR of 5.6%, during the forecast period, according to latest analysis by Emergen Research. Steady increase in demand for attractive interior designs along with development of in-flight entertainment systems is a key factor driving market revenue growth. Rising competition among domestic and international airline carriers and need to comply with various standards, drive brand value, and offer more enhanced flight experience are some key factors resulting in refurbishing of aircraft and installation or more attractive interior design. Increasing focus on more advanced and efficient and enhanced travelling experience has been resulting in opening up of new and more lucrative revenue opportunities for players in the aircraft refurbishing industry. Interiors, including cabins and cockpits, are restructured and redesigned during refurbishment, and these processes provide additional benefits, including reduced operational costs and improved end-user travel experience.
Aircraft refurbishing service providers continue to explore more efficient and cost-effective, and visually appealing ways of refurbishing aircraft. In addition, consumer electronics are also integrated and repackaged as in-flight entertainment system components. Because these electronic components have a limited lifespan, aircraft refurbishment plays a crucial role in keeping these components ahead of the competition and avoid obsolescence. Furthermore, because these technologies are rapidly becoming obsolete, key players have the opportunity to design, manufacture, and install customized in-flight entertainment systems while keeping up with new technological innovations. This factor is expected to create favorable business opportunities for market players in the near future.
The Global Aircraft Refurbishing Market report is a detailed study of the different segments of the market, factors driving and restraining the growth of the market, and regional landscape based on the data gathered from both primary and secondary sources of data collection, along with the research methodology employed for analysis provided in the study. The market overview, SWOT analysis, and insights into the strategies adopted by key players operating in the Aircraft Refurbishing market help understand the market forces and how those can be exploited to benefit from future opportunities.
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The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.
In market segmentation by manufacturers, the report covers the following companies-
Hong Kong Aircraft Engineering Company Limited, Singapore Technologies Engineering Aerospace, Lufthansa Technik AG, AAR Corporation, Rolls Royce Holdings PLC, SIA Engineering Company Limited, Delta TechOps, SR Technics Switzerland AG, Turkish Technic, and MRO Holdings, Inc.
Some Key Highlights From the Report
Wide-body aircraft segment revenue is expected to expand at a significantly rapid CAGR during the forecast period as many airlines have reduced extra passenger space to maximize their overall revenue and profit margins over the years.
VIP cabin segment is expected to register a significantly robust revenue growth rate over the forecast period. The refurbishment of VIP aircraft is on the rise as premium customers seek more luxurious travel experiences. Cabins are increasingly being used as a crucial area and part of the aircraft, and besides innovative interiors and offerings, branding and ultra-high tech lighting and other aspects are taking place through refurbishing.
North America is expected to account for a larger revenue share than other regional markets over the forecast period due to government initiatives and investments that support growth of the aerospace industry in countries in the region.
The research study gives a comprehensive analysis of the market with the help of several analytical tools and helps identify and capitalize on the growth prospects existing in the Aircraft Refurbishing Market. It also offers accurate insights into the prevalent business strategies. The market overview gives growth estimations based on historical analysis and a detailed evaluation of the gross revenue, demand and supply dynamics, volume, market share, pricing structure, and profit margin for each market segment. The regional analysis takes into consideration the overall sales and CAGR to underline the leading companies in each regional Aircraft Refurbishing based on product types and product applications.
Emergen Research has segmented the global aircraft refurbishing on the basis of aircraft type, refurbishing type, applications, fitting type, and region:
Aircraft Type Outlook (Revenue, USD Billion; 2018–2028)
Narrow Body Aircraft
Wide Body Aircraft
Large Body Aircraft
Refurbishing Type Outlook (Revenue, USD Billion; 2018–2028)
Applications Outlook (Revenue, USD Billion; 2018–2028)
Passenger To Freighter
Fitting Type Outlook (Revenue, USD Billion; 2018–2028)
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The report offers three types of Aircraft Refurbishings and uses analytical tools like Porter’s Five Forces analysis, SWOT analysis, and both qualitative and quantitative assessment of the market. It estimates the market size in the forecast duration by studying its value, volume, market share, growth rate, and other market essentials. It gives extensive company profiles, wherein the analysts explain the expansion tactics adopted by market leaders, including both long- and short-term strategies, and other vital competitive factors of significant businesses in the global Aircraft Refurbishing market.
The report provides an in-depth study of the product, application, and regional segments of the global nano- and micro-satellite industry. As part of the regional analysis, the report includes an assessment of the leading regions of North America, Europe, India, China, and the EMEA.
It evaluates a comprehensive structure and overview of the Aircraft Refurbishing Industry.
It provides accurate insights into critical factors like drivers and constraints, growth rate, value, volume, market share, and overall revenue.
It studies the growth prospects, challenges, drivers and restraints operating in the market.
It allows the reader to understand the Aircraft Refurbishing market competition by assessing the top vendors, with elaborate company profiles, gross revenue, profit margin, import-export status, and global market share.
It brings to light the pricing structure, demand and supply dynamics, value chain analysis, SWOT analysis to support the formulation of lucrative business strategies.
It lists the data sources referred to during the study, detailed research methodology and other vital findings.
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The Aircraft Refurbishing Market report also includes an investment analysis and growth trend analysis to help readers maximize their return on investment. It highlights the growth opportunities existing in the global Aircraft Refurbishing market segments. It offers an extensive investigation of the import-export status and the rates of production and consumption. The Aircraft Refurbishing Market report also provides some of the essential market aspects to draw a forecast for the coming years based on the information derived as part of the historical analysis and an analysis of the current market scenario.
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