Global Aircraft Refurbishing Market Overview

The Global Aircraft Refurbishing Market size is estimated to reach $5.09 billion by 2026, growing at a CAGR of 5.8% over the forecast period of 2021-2026. The process of ensuring an aircraft's continued soundness and safety is known as aircraft refurbishment. Inspection, overhaul, replacement, defect correction, and embodiment adjustments are all part of this process. Due to an increase in demand for aircraft interiors by business jet owners, sales of VIP aircraft refurbishment are increasing. High demand for VIP aircraft, new types of airplanes and technologies, and the emergence of new types of VIP aircraft on the market are all factors driving up demand for VIP refurbishment.

 

Impact of COVID-19:

Due to the COVID-19 pandemic, several airlines and airports encountered severe obstacles and losses. During the pandemic, all airports were closed, and air travel was prohibited all over the world. Many high-profit markets saw a significant decline in air passenger traffic as many people were afraid to travel, in addition to limitations that harmed airline revenue creation. However, with a drop in cases and an increase in vaccines, air travel has resumed in part, and it is expected to improve further in the coming months. This will assist airlines and airports in generating cash and, as a result, increase demand for aircraft refurbishment.

 

Key Takeaways from Global Aircraft Refurbishing Market Report:

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level – for components, applications, end-users, and by different industry verticals. Understand the different dynamics influencing the market – key driving factors, challenges, and hidden opportunities.
• Get in-depth insights on your competitor's performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep dive on the value augmentation at each step to optimize value and bring efficiencies in your processes.
• Get a quick outlook on the market entropy – M&As, deals, partnerships, product launches of all key players for the past four years.
• Evaluate the supply-demand gaps, import-export statistics, and regulatory landscape for more than the top 20 countries globally for the market
• By Refurbishing Type, the market for Passenger to freighter Segment to grow at the highest CAGR during the forecast period.

 

The market is divided into three categories: passenger-to-freighter, commercial aircraft cabin refurbishment, and VIP cabin refurbishment. During the projected period, the passenger-to-freighter market is expected to increase the most, with a CAGR of 6.6% during the forecast period 2021-2026. The strong growth is due to airline investments in passenger-to-freighter conversions, which allow them to better utilize their fleet while also saving money.

Asia Pacific to account for the largest market share during the forecast period

With a market share of 36.9% in 2020, the North American region dominated the airplane refurbishing market, and this dominance is expected to continue over the projected period. The existence of major aircraft manufacturers in the region, such as Boeing Company (US) and Bombardier Inc. (Canada), drives the market. Moreover, With the rise in air travel and increased air passenger traffic for both tourists and businesses, the need for aircraft refurbishment is growing across North America.

 

During the projection period, Europe and Asia-Pacific are expected to offer significant growth possibilities.

 

Market Dynamics

Driver: During the projected period, the worldwide aircraft refurbishing market is expected to rise because of the growing popularity of premium economy class among tourists.

Travelers like the premium economy class because it provides a significant increase over standard economy class without the expensive cost of business class. Passengers prefer premium economy class because it provides more space and comfort, as well as premium meals with complimentary bar service and priority check-in and baggage delivery at the airport. For example, American Airlines was the first U.S. carrier to provide a premium economy cabin in 2016. As a result, in the near future, it is likely to fuel market expansion. In addition, major airlines throughout the world are creating premium class sections in their planes for their passengers. As a result, refurbishing service providers should be able to increase the number of premium economy class seats available to tourists.

 

Challenge: Air and noise pollution restrictions for aircraft are strict is restraining the market growth.

Government-imposed air and noise pollution limits are forcing airlines to retire older aircraft in order to protect passenger safety and minimize dangerous emissions. The introduction of next-generation aircraft improves airline safety while also raising maintenance and repair expenses. Additionally, restrictions on domestic and international travel around the world during COVID-19 halted airplane maintenance and repair services, reducing revenue for MRO service providers.

 

Key Market Players

Key Players in the Global Aircraft Refurbishing Market consist of BE Aerospace, Zodiac Aerospace, TIMCO Aviation Services, SIA Engineering Company, Lufthansa Technik, Gulfstream, and Sabreliner Corporation, among others.

 

Developments

In July 2021, Diehl Shiftung & Co. KG entered into a strategic partnership with HAECO Cabin Solutions to upgrade solutions for commercial aircraft cabins.

 

Report Coverage and Scope

The report "Global Aircraft Refurbishing Market" by Research Informatic covers an in-depth detailed analysis for the following segment, which are covered under the scope.

By Type

• VlA
• WB
• NB
• VIP

 

By Refurbishing Services

• Interior
• Exterior

 

By Refurbishing Type

• Passenger to Freighter
• Commercial Aircraft Cabin
• VIP Cabin Refurbishing

 

By Geography

• North America
• Europe
• APAC
• RoW

Global Aircraft Refurbishing Market Growth, Trend and Forecast 2023-2028

Chapter 1 Aircraft Refurbishing Market Overview

1.1 Product Overview and Scope of Aircraft Refurbishing

1.2 Aircraft Refurbishing Market Segmentation by Type

1.2.1 Global Aircraft Refurbishing Market Share of Aircraft Refurbishing by Type in 2023

1.2.2 VlA

1.2.3 WB

1.2.4 NB

1.2.5 VIP

1.3 Aircraft Refurbishing Market Segmentation by Refurbishing Services

1.3.1 Interior

1.3.2 Exterior

1.4 Aircraft Refurbishing Market Segmentation by Refurbishing Type

1.4.1 Passenger to Freighter

1.4.2 Commercial Aircraft Cabin

1.4.3 VIP Cabin Refurbishing

1.5 Aircraft Refurbishing Market Segmentation by Regions

1.5.1 North America

1.5.2 China

1.5.3 Europe

1.5.4 Southeast Asia

1.5.5 Japan

1.5.6 India

1.5.7 Global Market Size (Value) of Aircraft Refurbishing (2016-2028)

Chapter 2 Global Economic Impact on Aircraft Refurbishing Industry

2.1 Global Macroeconomic Environment Analysis

2.1.1 Global Macroeconomic Analysis

2.1.2 Global Macroeconomic Environment Development Trend

2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global Aircraft Refurbishing Market Competition by Manufacturers

3.1 Global Aircraft Refurbishing Production and Share by Manufacturers (2022 and 2023)

3.2 Global Aircraft Refurbishing Revenue and Share by Manufacturers (2022 and 2023)

3.3 Global Aircraft Refurbishing Average Price by Manufacturers (2022 and 2023)

3.4 Manufacturers Aircraft Refurbishing Manufacturing Base Distribution, Production Area and Product Type

3.5 Aircraft Refurbishing Market Competitive Situation and Trends

3.5.1 Aircraft Refurbishing Market Concentration Rate

3.5.2 Aircraft Refurbishing Market Share of Top 3 and Top 5 Manufacturers

3.5.3 Mergers & Acquisitions, Expansion

Chapter 4 Global Aircraft Refurbishing Production, Revenue (Value) by Region (2016-2023)

4.1 Global Aircraft Refurbishing Production by Region (2016-2023)

4.2 Global Aircraft Refurbishing Production Market Share by Region (2016-2023)

4.3 Global Aircraft Refurbishing Revenue (Value) and Market Share by Region (2016-2023)

4.4 Global Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

4.5 North America Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

4.6 Europe Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

4.7 China Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

4.8 Japan Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

4.9 Southeast Asia Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

4.10 India Aircraft Refurbishing Production, Revenue, Price and Gross Margin (2016-2023)

Chapter 5 Global Aircraft Refurbishing Supply (Production), Consumption, Export, Import by Regions (2016-2023)

5.1 Global Aircraft Refurbishing Consumption by Regions (2016-2023)

5.2 North America Aircraft Refurbishing Production, Consumption, Export, Import by Regions (2016-2023)

5.3 Europe Aircraft Refurbishing Production, Consumption, Export, Import by Regions (2016-2023)

5.4 China Aircraft Refurbishing Production, Consumption, Export, Import by Regions (2016-2023)

5.5 Japan Aircraft Refurbishing Production, Consumption, Export, Import by Regions (2016-2023)

5.6 Southeast Asia Aircraft Refurbishing Production, Consumption, Export, Import by Regions (2016-2023)

5.7 India Aircraft Refurbishing Production, Consumption, Export, Import by Regions (2016-2023)

Chapter 6 Global Aircraft Refurbishing Production, Revenue (Value), Price Trend by Type

6.1 Global Aircraft Refurbishing Production and Market Share by Type (2016-2023)

6.2 Global Aircraft Refurbishing Revenue and Market Share by Type (2016-2023)

6.3 Global Aircraft Refurbishing Price by Type (2016-2023)

6.4 Global Aircraft Refurbishing Production Growth by Type (2016-2023)

Chapter 7 Global Aircraft Refurbishing Market Analysis by Application

7.1 Global Aircraft Refurbishing Consumption and Market Share by Application (2016-2023)

7.2 Global Aircraft Refurbishing Consumption Growth Rate by Application (2016-2023)

7.3 Market Drivers and Opportunities

7.3.1 Potential Applications

7.3.2 Emerging Markets/Countries

Chapter 8 Aircraft Refurbishing Manufacturing Cost Analysis

8.1 Aircraft Refurbishing Key Raw Materials Analysis

8.1.1 Key Raw Materials

8.1.2 Price Trend of Key Raw Materials

8.1.3 Key Suppliers of Raw Materials

8.1.4 Market Concentration Rate of Raw Materials

8.2 Proportion of Manufacturing Cost Structure

8.2.1 Raw Materials

8.2.2 Labor Cost

8.2.3 Manufacturing Expenses

8.3 Manufacturing Process Analysis of Aircraft Refurbishing

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

9.1 Aircraft Refurbishing Industrial Chain Analysis

9.2 Upstream Raw Materials Sourcing

9.3 Raw Materials Sources of Aircraft Refurbishing Major Manufacturers in 2023

9.4 Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

10.1 Marketing Channel

10.1.1 Direct Marketing

10.1.2 Indirect Marketing

10.1.3 Marketing Channel Development Trend

10.2 Market Positioning

10.2.1 Pricing Strategy

10.2.2 Brand Strategy

10.2.3 Target Client

10.3 Distributors/Traders List

Chapter 11 Market Effect Factors Analysis

11.1 Technology Progress/Risk

11.1.1 Substitutes Threat

11.1.2 Technology Progress in Related Industry

11.2 Consumer Needs/Customer Preference Change

11.3 Economic/Political Environmental Change

Chapter 12 Global Aircraft Refurbishing Market Forecast (2023-2028)

12.1 Global Aircraft Refurbishing Production, Revenue Forecast (2023-2028)

12.2 Global Aircraft Refurbishing Production, Consumption Forecast by Regions (2023-2028)

12.3 Global Aircraft Refurbishing Production Forecast by Type (2023-2028)

12.4 Global Aircraft Refurbishing Consumption Forecast by Application (2023-2028)

12.5 Aircraft Refurbishing Price Forecast (2023-2028)

 

Chapter 13 Appendix