Increasing demand for attractive interior lighting and in-flight entertainment systems is one of the key factors driving global aircraft refurbishing market
— Emergen Research
VANCOUVER, BC, CANADA, August 15, 2022 /EINPresswire.com/ — According to the most recent analysis by Emergen Research, the global market for aircraft refurbishing had a value of USD 4.55 billion in 2020 and is projected to grow at a rate of 5.6% during the forecast period.
The development of in-flight entertainment systems and the steady rise in demand for appealing interior designs are two major factors influencing the market’s revenue growth. A number of important elements, including the requirement to comply with various standards, build brand value, and provide a more enhanced flight experience, have led to aircraft refurbishment and the installation of more enticing interior design.
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Players in the aeroplane refurbishing sector now have new and more profitable income opportunities thanks to a growing focus on more modern, efficient, and improved travel experiences. During refurbishing, interiors, including cabins and cockpits, are reorganised and renovated. These procedures offer additional advantages, such as decreased operational costs and enhanced end-user travel experiences. Aircraft refurbishing companies are constantly looking for more effective, economical, and aesthetically pleasing solutions to rehabilitate aircraft. Consumer electronics are also combined and repackaged as parts of in-flight entertainment systems.
Aircraft refurbishing is essential to keeping these electronic components ahead of the competition and preventing obsolescence because they have a finite lifespan. Key stakeholders also have the chance to create, produce, and install specialised in-flight entertainment systems while keeping up with new technical advancements because these technologies are quickly becoming outdated. For market players, this feature is anticipated to soon lead to advantageous commercial prospects.
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The Global Aircraft Refurbishing Market Research Report added to its expanding repository is an all-inclusive document containing insightful data about the Aircraft Refurbishing market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry. The report sheds light on the minute details of the Aircraft Refurbishing industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2028.
Key Highlights from the Report
Since many airlines have decreased excess passenger space to increase their overall income and profit margins throughout the years, wide-body aircraft sector revenue is anticipated to grow at a considerably rapid CAGR during the projection period.
Over the forecast period, the VIP cabin sector is anticipated to experience very strong revenue growth. The upgrading of VIP aeroplanes is becoming increasingly common as high-end passengers demand more opulent travel experiences. In addition to novel interiors and offers, branding, ultra-high tech lighting, and other things are taking place through refurbishment as cabins are used more and more as a significant location and component of the aircraft.
Due to government initiatives and investments that promote the expansion of the aerospace industry in the region’s nations, North America is anticipated to account for a greater revenue share than other regional markets over the course of the forecast period.
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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Aircraft Refurbishing Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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)
Some major companies in the global 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.
Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key Aircraft Refurbishing market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global Aircraft Refurbishing market size
2.2 Latest Aircraft Refurbishing market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global Aircraft Refurbishing market key players
3.2 Global Aircraft Refurbishing size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Aircraft Refurbishing market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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