The latest research study "Aircraft Refurbishing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global aircraft refurbishing market size reached US$ 30.88 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.39 Billion by 2028, exhibiting a growth rate (CAGR) of 4.48% during 2023-2028.
Aircraft refurbishing refers to the procedures of upgrading existing aircraft systems with the latest technologies. They involve end-to-end services of interior and exterior replacement and maintenance, including inspection, defect rectification, overhaul, design modification, corrosion treatment, updating registration marks in case of change in ownership, retrofitting communication and navigation systems with modern avionics, etc. Aircraft refurbishing solutions help to extend the lifespan of the aircraft, prevent safety or comfort issues, ensure fuel-saving, etc. Consequently, they find extensive applications in the aviation sector across countries.
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Aircraft Refurbishing Market Trends and Drivers:
The increasing operations in commercial aviation, owing to the growing air travel activities, is among the key factors driving the aircraft refurbishing market. In addition to this, the rising air passenger traffic and the shifting preferences toward improved quality aircraft cabins are also positively influencing the market growth. Apart from this, the emerging trend of outsourcing aircraft-related refurbishing and maintenance services by various aircraft manufacturing and operating firms and the introduction of advanced 3D printing technology for producing aircraft interiors are acting as significant growth-inducing factors. Moreover, the escalating passenger to freighter aircraft conversions for extending the economic life of an airplane and the expanding implementation of creative and constructive approaches to enhance passenger safety and comfort are further stimulating the global market. Besides this, the inflating investments by civil aviation companies to grow the brand value of operating firms and the elevating number of mergers and acquisitions (MAs), partnerships, and collaborations activities among leading aircraft manufacturers are expected to propel the aircraft refurbishing market over the forecasted period.
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Aircraft Refurbishing Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Air France–KLM S.A.
- Ascent Aviation Services
- Diehl Stiftung Co. KG (Diehl Administrative Foundation)
- Gulfstream Aerospace Corporation (General Dynamics Corporation)
- Hong Kong Aircraft Engineering Company Limited
- InTech Aerospace
- Jamco America Inc. (JAMCO Corporation)
- Lufthansa Technik AG (German Lufthansa AG)
- Nextant Aerospace
- Rose Aircraft Services
- Safran SA
- SIA Engineering Co. Ltd. (Singapore Airlines), etc.
The report has segmented the market on the basis of
- Commercial Aircraft Cabin
- VIP Cabin Refurbishing
- Passenger to Freighter
The report has provided a detailed breakup and analysis of the aircraft refurbishing market based on the type. This includes commercial aircraft cabin, VIP cabin refurbishing, and passenger to freighter. According to the report, commercial aircraft cabin represented the largest segment.
Refurbishing Service Insights:
The report has provided a detailed breakup and analysis of the aircraft refurbishing market based on the refurbishing service. This includes interior and exterior. According to the report, interior exhibited a clear dominance in the market.
Aircraft Type Insights:
- Very Light Aircraft
- Wide Body Aircraft
- Narrow Body Aircraft
- Large Body Aircraft
- VIP Aircraft
A detailed breakup and analysis of the aircraft refurbishing market based on the aircraft type has also been provided in the report. This includes very light aircraft, wide body aircraft, narrow body aircraft, large body aircraft and VIP aircraft. According to the report, narrow body aircraft accounted for the largest market share.
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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