Aircraft Maintenance Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Aircraft Maintenance  by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Aircraft Maintenance  Market:

https://www.thebusinessresearchcompany.com/report/aircraft-maintenance-global-market-report

According to The Business Research Company’s Aircraft Maintenance , The aircraft maintenance market size has grown strongly in recent years. It will grow from $44.75 billion in 2023 to $47.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%.  The  growth in the historic period can be attributed to lifecycle extension of aircraft, emphasis on safety, outsourcing maintenance services, shift to predictive maintenance, rise of commercial aviation..

The aircraft maintenance market size is expected to see strong growth in the next few years. It will grow to $58.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.  The growth in the forecast period can be attributed to fleet expansion, regulatory changes, transition to predictive maintenance, rise in low-cost carriers, outsourcing trends.. Major trends in the forecast period include adoption of predictive maintenance, use of advanced technologies, focus on cost-efficiency, transition to digital records, outsourcing maintenance services..

The increase in the number of air passengers is expected to boost the growth of the aircraft maintenance market going forward. An air passenger is a person or business involved primarily in the transportation of people by aircraft in interstate commerce. The prime reason for ongoing aircraft maintenance is the safety of all on board, particularly passengers. The safety of the passengers is the top priority of any aircraft owner. For instance, in March 2022, according to the International Air Transport Association (IATA), a Canada-based association that supports airline activity and helps formulate industry policy and standards, there will be 4.0 billion passengers worldwide in 2024 (including multi-sector connecting flights as one passenger), reaching pre-COVID-19 levels (103% of the amount for 2019). The total number of travelers in 2021 was 47% higher than in 2019 and in 2022, 83% are anticipated, followed by 94% in 2023, 103% in 2024and 111% in 2025. Therefore, the increase in the number of air passengers is driving the growth of the aircraft maintenance market.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=9270&type=smp

The aircraft maintenance market covered in this report is segmented –

1) By Service Type: Engine Overhaul, Line Maintenance, Modification, Components, APU

2) By Aircraft Type: Narrow-Body, Wide-Body

3) By Organization Type: Independent MRO, Original Equipment Manufacture MRO, Other Organization Types

4) By End-User: Commercial Aircraft, Military Aircraft

Technological innovation has emerged as the key trend gaining popularity in the aircraft maintenance market. Major companies operating in the aircraft maintenance market are developing technological innovations to strengthen their position in the market. For instance, in November 2022, Cirium, a UK-based company that provides data and analytics to the aviation and travel industries, launched the first phase of satellite-based aircraft maintenance tracking, the first satellite-based aircraft maintenance tracking function in the aviation sector. This technology aids in the identification of aircraft transitions and the development of strategies for how and where maintenance and replacement part budgets are allocated by technicians or owners. Developers can gain knowledge about whether an airline’s aircraft had its cabins upgraded, acquired additional branding, is currently undergoing maintenance, or was placed back into service by monitoring each ground event for a specific aircraft. The Ascend Profiles User Interface (UI), which visualizes aircraft intelligence for airline and lessor profiles and offers rapid insights surrounding aircraft types, airport locations, OEMs, MROsand more, includes a feature called ‘Ground Events’.

The aircraft maintenance  market report table of contents includes:

 

1. Executive Summary
2. Aircraft Maintenance Market Characteristics
3. Aircraft Maintenance Market Trends And Strategies
4. Aircraft Maintenance Market – Macro Economic Scenario
5. Global Aircraft Maintenance Market Size and Growth

.

.

.

31. Global Aircraft Maintenance Market Competitive Benchmarking
32. Global Aircraft Maintenance Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aircraft Maintenance Market
34. Aircraft Maintenance Market Future Outlook and Potential Analysis
35. Appendix

Top Major Players:

 

• General Electric Aerospace
• Lufthansa Technik AG
• AAR Corp
• Delta TechOps
• Singapore Technologies Engineering Ltd

Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company  

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ  

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/  

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model