The aircraft line maintenance market is projected to grow at a CAGR of 4.10% from 2018 to 2023
LONDON, June 12, 2018 /PRNewswire/ -- The aircraft line maintenance market is projected to grow at a CAGR of 4.10% from 2018 to 2023.
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The aircraft line maintenance 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 2022. The growth of the aircraft line maintenance market across the globe can be attributed to the increasing number of flights per aircraft, rising number of new aircraft deliveries from OEMs, and increasing requirement for carrying out repair and maintenance of the existing aircraft fleets of airlines. The requirement to upgrade the existing aircraft legacy systems and replace them with new systems is another significant factor influencing the growth of the aircraft line maintenance market. However, the lack of availability of skilled workforce and lack of common data standards are expected to restrain the growth of the aircraft line maintenance market during the forecast period.
Based on service, the component replacement & rigging service segment is expected to lead the aircraft line maintenance market in 2018.
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.
The increased demand for component replacement & rigging services by various airlines for the replacement of their existing aircraft legacy systems 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.
Based on type, the transit checks segment is expected to lead the aircraft line maintenance market in 2018.
Based on type, the aircraft line maintenance market has been segmented into transit checks and routine checks.Transit checks are carried out by technicians at the airport ramp.
Routine checks of an aircraft comprise maintenance pre-flight checks, post-flight checks, service checks, overnight checks, and weekly checks. The pre-flight checkup is done by the flight crew, and it starts right from the flight deck to know the status of servicing required by an aircraft and replace faulty components to ensure smooth functioning of the aircraft.
The Asia Pacific aircraft line maintenance market is projected to grow at the highest CAGR during the forecast period." The Asia Pacific aircraft line maintenance is expected to witness growth at the highest CAGR from 2018 to 2022. This growth of the market can be attributed to the increase in the aircraft production in the region and rise in the number of new aircraft delivered. Moreover, the increased demand for MRO services from the region is expected to drive the growth of the Asia Pacific line maintenance market from 2018 to 2023. China, India, and Japan are the key markets for aircraft line maintenance services in this region.
The break-up of the profile of primary participants for this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others - 40%
• By Region: Asia Pacific – 30%, Europe – 20%, North America – 45%, and RoW – 5%
Major 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.
Research Coverage
This research study segments the aircraft line maintenance market based on service (component replacement & rigging service, defect rectification service, engine & APU service, Aircraft on Ground (AOG) service, and line station setup & management service), type (transit checks and routine checks), aircraft type (narrow body, wide body, very large body, regional aircraft, and others), technology (traditional line maintenance and digital line maintenance).These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia Pacific, and RoW.
The report provides in-depth market intelligence regarding key factors such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the aircraft line maintenance market. It also analyzes micromarkets with respect to individual growth trends, prospects, and their contribution to the aircraft line maintenance market.
Reasons to Buy the Report:
From an insight perspective, the aircraft line maintenance market report focuses on various levels of analysis — industry analysis, market share analysis of the top players, and company profiles. The insights obtained together comprise and discuss basic views on the competitive landscape, high-growth regions and countries, regulatory policies of various countries, and drivers, restraints, opportunities, and challenges influencing the growth of the aircraft line maintenance market.
The aircraft line maintenance market report provides insights on the following pointers:
• Market Penetration: Information regarding the competitive landscape of the aircraft line maintenance market
• Market Sizing: The size of the aircraft line maintenance market in 2017 and its projection from 2018 to 2022
• Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the aircraft line maintenance market
• Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, restraints, opportunities, and challenges in the aircraft line maintenance market
• Market Development: Comprehensive information about lucrative markets in various regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft line maintenance market
• Regional Analysis: Factors influencing the growth of the aircraft line maintenance market in North America, Europe, Asia Pacific, and RoW
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players
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