Aircraft Line Maintenance Market Research Report and Forecast |
Posted: August 28, 2024 |
In 2021, the global aircraft line maintenance market was valued at USD 18.34 billion. This market is expected to grow from USD 19.30 billion in 2022 to USD 28.73 billion by 2029, representing a compound annual growth rate (CAGR) of 5.8% during this period. North America led the market in 2021, accounting for a significant 60.14% share. Aircraft maintenance is categorized into two primary types: line maintenance and base maintenance. Base maintenance encompasses extensive tasks that require the aircraft to be brought into a hangar, resulting in longer downtime. In contrast, line maintenance is performed on the apron or tarmac during routine turnaround times when the aircraft is on the ground (AOG) and passengers are boarding. While base maintenance is planned for extended periods of downtime, line maintenance often deals with unexpected issues that occur during regular flight operations. To improve efficiency and documentation, engineers performing line maintenance are now equipped with smartphones and smart devices, enabling them to quickly understand and complete maintenance tasks. Major Players Profiled in the Market Report:
Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/aircraft-line-maintenance-market-102864 Report Coverage The report sheds light on quantitative and qualitative assessments to provide a holistic view of the global market. Further, a host of primary interviews has been conducted with opinion leaders, suppliers and other stakeholders. Primary data has been collated through emails, telephonic conversations and questionnaires. The secondary sources referred are press releases, SEC filings and websites. The report highlights bottom-up and top-down approaches to provide a comprehensive view of product mapping. Segmentation: Aircraft Line Maintenance Market The aircraft line maintenance market can be segmented as follows:
Drivers and Restraints Bullish Uptake of Outsourcing and Air Traffic to Accentuate Industry Growth Industry players are likely to explore opportunities with the growing prominence of outsourcing across emerging and advanced economies. Amidst escalating labor- and maintenance costs, outsourcing is likely to gain traction. Furthermore, the need for low-cost carriers and product portfolio expansion could foster aircraft line maintenance market share. Budget airlines have become trendier globally, with China receiving major impetus. The IATA asserts that China is on course to outperform the U.S. as the largest passenger traffic globally by 2024. However, potential delays and cancellations of aircraft deliveries did not bode well for the industry outlook. For instance, in April 2020, Airbus SE reportedly received 16 cancellations for the A220 series. Prevailing challenges witnessed in the aviation industry will continue to redefine the strategies in the ensuing period. Regional Insights North America to Witness Investments Galore with Presence of Leading Companies North America aircraft line maintenance market growth will be pronounced during the forecast period, largely due to the presence of major players in the U.S. Some of the leading companies, such as American Airlines and Delta, have upped investments in the aviation sector. Moreover, the boost in the fleet size could augur well for the industry outlook. Industry participants expect Europe to emerge as a happy hunting ground against the backdrop of the adoption of advanced technologies. Stakeholders expect the U.K., France, Italy and Germany to lead from the front with growing investments in aircraft line maintenance services. Asia Pacific market forecast will be strong following the expansion of aircraft line maintenance operators across India, China, Australia and Japan. Prominently, the commercial aviation sector has received impetus due to rising fleet size. Besides, digital line maintenance has gained prominence in the wake of the footfall of AI and IoT in the landscape. Competitive Landscape Stakeholders to Invest in Strategic Approaches to Gain Competitive Edge Major players are poised to infuse funds into product launches, mergers & acquisitions, technological advancements and R&D activities. Prevailing trends suggest leading companies are slated to focus on geographical expansion during the forecast period. Key Industry Developments June 2021 – Ramco Systems announced it would implement its Aviation M&E MRO Software V5.8 to digitally transform the maintenance and engineering operations of Bristow Group.
|
||||||||||||||||
|
||||||||||||||||
