Aircraft Refurbishing Market Growth 2021, Trend Analysis, Product Scope, Industry Size, Competitive Landscape Singapore Technologies Engineering Aerospace, Lufthansa Technik AG, AAR Corporation, Rolls Royce Holdings PLC.
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.
Market Size – USD 4.55 Billion in 2020, Market Growth – at a CAGR of 5.6%, Market Trends – Brand endorsement is driving demand for aircraft refurbishing
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.
In terms of features, functions, and applications, aircraft cabins have innovated significantly over the years with the help of refurbishing. Growing trend of brand endorsement and cabin branding and rising focus on offering additional value and features, services, ambience, and comfort to passengers are expected to support market growth.
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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.
Furthermore, the report provides a comprehensive overview of the Aircraft Refurbishing market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
Some major companies in the market report include 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.
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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.
This report on the global Aircraft Refurbishing market gives a thorough study that is primarily focused on top players and their business stratagem, geographical extent, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is explicitly prepared to explore crucial fragments of the global Aircraft Refurbishing market.
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)
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Technological and innovation landscape
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Key Questions Answered in the Report:
What is the growth rate of the Aircraft Refurbishing market? What is the anticipated market valuation of Aircraft Refurbishing industry by 2027?
What are the key growth driving and restraining factors of the Aircraft Refurbishing market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Aircraft Refurbishing industry over the forecast period?
Which region is expected to show significant growth in the coming years?
Finally, all aspects of the Aircraft Refurbishing Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
Vehicle-to-Everything (V2X) https://marketographics.com/vehicle-to-everything-v2x-a-reality-towards-fully-autonomous-driving/
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