Aircraft Line Maintenance Market Worth 23.50 Billion USD by 2023
PUNE, India, June 6, 2018 /PRNewswire/ --
The report "Aircraft Line Maintenance Market by Service (Component Replacement & Rigging, Defect Rectification, Engine & APU, Aircraft on Ground), Type (Transit Checks, Routine Checks), Aircraft Type (NBA, WBA, VLA), Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to grow from USD 19.23 Billion in 2018 to USD 23.50 Billion by 2023, at a CAGR of 4.10% from 2018 to 2023. The growth of the aircraft line maintenance market can be attributed to the increasing number of flights per aircraft and expanding aircraft fleet size of various airlines.
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The component replacement & rigging service segment is projected to lead the aircraft line maintenance market during the forecast period.
Based on service, the aircraft line maintenance market has been segmented into component replacement & rigging service, defect rectification service, engine & APU service, Aircraft on Ground (AOG) service, and line station setup & management service. The component replacement & rigging service segment is expected to lead the aircraft line maintenance market during the forecast period. The increased demand for component replacement & rigging services by various airlines for the replacement of their existing legacy systems in aircraft is driving the growth of the component replacement & rigging service segment of the aircraft line maintenance market. The component replacement & rigging service segment has been further classified into hydraulic leak rectification, structural repairs, landing gear replacement & removal, windshield changes, and avionics repairs.
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The routine checks type segment of the aircraft line maintenance market is projected to grow at a higher CAGR than the transit checks segment from 2018 to 2023.
Based on type, the aircraft line maintenance market has been segmented into transit checks and routine checks. The routine checks type segment of the aircraft line maintenance market is projected to grow at a higher CAGR than the transit checks type segment from 2018 to 2023. Routine checks of an aircraft comprise maintenance pre-flight checks, post-flight checks, service checks, overnight checks, and weekly checks. When an aircraft completes 155 hours of flight, it goes for fill or change of oils and fluids such as hydraulic fluid, starter oil, engine oil, and generator drive fluids. As the number of flights per aircraft is rising, it is projected to lead to an increased requirement for routine checks of aircraft.
The Asia Pacific region is projected to lead the aircraft line maintenance market during the forecast period.
The Asia Pacific region is estimated to account for the largest share of the aircraft line maintenance market in 2018. China is projected to lead the Asia Pacific aircraft line maintenance market during the forecast period. The growth of the China aircraft line maintenance market can be attributed to the increased deliveries of new commercial aircraft in the country and presence of maintenance and repair facilities of several key providers of aircraft line maintenance services that include AMECO (China) and HAECO (Hong Kong), among others, in China.
The key players operating in the aircraft line maintenance market include AMECO (China), ANA Line Maintenance Technics (Japan), Avia Solutions Group (Lithuania), BCT Aviation Maintenance (UK), British Airways (UK), Delta TechOps (US), HAECO (Hong Kong), Lufthansa Technik (Germany), Monarch Aircraft Engineering (UK), Nayak Group (Germany), SAMCO Aircraft Maintenance (Netherlands), SIA Engineering (Singapore), STS Aviation Group (US),Turkish Technic (Turkey), and United Technical Operations (US), among others. These companies are focused on the adoption of various growth strategies to enhance their presence in emerging economies across the globe.
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