The Business Research Company’s report on the Power By The Hour (PBH) Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the power by the hour (pbh) market further?
The growing low-cost airline industry is expected to propel the growth of the power-by-the-hour (PBH) market going forward. The low-cost airline industry refers to a low-cost carrier that provides airline services to passengers at minimal fares by minimizing operating expenses and reducing the amenities made available to the passengers. The low-cost airline industry employs power-by-the-hour services to reduce operating costs, improve reliability, increase uptime, and provide better alignment of incentives. For instance, in October 2022, Eurocontrol, a Belgium-based government agency, reported that the low-cost carrier industry grew to 32.5% from January to September 2022, up from 31.9% over the previous three years. Therefore, the growth in the low-cost airline industry is driving the growth of the power-by-the-hour (PBH) market.
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What are the key factors influencing the forecasted market size of the power by the hour (pbh) industry?
The power by the hour (PBH) market size has grown strongly in recent years. It will grow from $24.86 billion in 2024 to $26.71 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to adoption of performance-based logistics contracts, increase in aircraft fleet size and complexity, growth of civil aviation and commercial airlines, evolution of predictive maintenance technologies, rise in outsourcing of maintenance services, adoption of engine condition monitoring systems
The power by the hour (PBH) market size is expected to see strong growth in the next few years. It will grow to $34.81 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to improvement in aircraft engine reliability, increase in air travel demand and flight frequency, growth of regional and low-cost carriers adopting pbh, rise of leasing companies offering pbh options, impact of electrification and hybrid propulsion systems in aviation, customization and flexibility in pbh contract structures, rise of on-wing and on-site maintenance solutions in pbh. Major trends in the forecast period include integration of data analytics and artificial intelligence in pbh programs, increasing demand for sustainable aviation practices, collaboration between oems and mro providers in pbh offerings, integration of blockchain for transparent and secure pbh transactions, development of pbh programs for new-generation and composite materials in aviation.
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Who are the leading competitors in the power by the hour (pbh) market?
Major companies operating in the power by the hour (PBH) market include GE Aerospace, Rolls-Royce Holdings plc, Pratt & Whitney Services Inc, Honeywell Aerospace, Bombardier Aerospace Corp, Lufthansa Technik AG, MTU Aero Engines AG, Elbit Systems Ltd., Hong Kong Aircraft Engineering Company Ltd., Embraer Aircraft Maintenance Services Inc., Air France Industries KLM Engineering & Maintenance, Delta TechOps Services Group (DTSG), ST Engineering Aerospace Ltd., AAR Corp., Turkish Technic Inc., SR Technics Group, Sabena Technics SAS, SIA Engineering Company Limited, Jet Support Services Inc., Magnetic MRO, Avtrade Ltd, C&L Aviation Group, A J Walter Aviation Limited, Aircraft Maintenance and Engineering Corporation Limited, Optima Aero Inc., Exodus Aviation, TAP Maintenance & Engineering, Mexicana MRO Services
Which emerging trends are set to transform the power by the hour (pbh) market landscape?
Performance-based contracts are a key trend gaining popularity in the power-by-the-hour (PBH) market. Major companies operating in the power-by-the-hour market are focused on entering new performance-based contracts to sustain their position in the market. For instance, in February 2022, C&L Aviation Group, an Australia-based aviation and aftermarket-support services provider, entered into a multi-year contract with Legend Airways LLC, a US-based air carrier that operates in the 48 states of the USA, Mexico, Canada, and the Caribbean, to provide power by the hour services. Under this agreement, they committed to supplying rotables, engine line-replaceable units (LRUs), and expendables.
How do different geographies compare in terms of market share and growth potential in the power by the hour (pbh) market?
North America was the largest region in the power by the hour (PBH) market in 2024. The regions covered in the power by the hour (PBH) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which major segments of the power by the hour (pbh) market are experiencing the fastest growth?
The power by the hour (PBH) market covered in this report is segmented –
1) By Component: Engine, Landing Gear And Breaks, Spare Parts And Component, Airframes, Other Components
2) By Provider: Original Equipment Manufacturer (OEM), Maintenance, Repair And Operations (MRO)
3) By Application: Line Maintenance, Heavy Maintenance
4) By Platform: Commercial Aviation, Business Jet, Commercial Helicopter
Subsegments:
1) By Engine: Turbofan Engines, Turboprop Engines, Helicopter Engines
2) By Landing Gear And Brakes: Main Landing Gear, Nose Landing Gear, Brake Systems
3) By Spare Parts And Components: Avionics, Electrical Systems, Hydraulic Systems
4) By Airframes: Fuselage, Wings, Tail Sections
5) By Other Components: Fuel Systems, Control Surfaces, Cabin Systems
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How is the power by the hour (pbh) market defined, and what are its core characteristics?
Power by the hour (PBH) is a maintenance contract that allows an aircraft owner or operator to pay a fixed hourly rate for using an engine or aircraft. It is a straightforward contract where airlines or private aircraft owners pay a certain sum for each hour they fly aircraft, and the money paid goes toward future helicopter maintenance needs.
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