Global Aircraft Refurbishing Market Overview
According to SPER Market Research, the Global Aircraft Refurbishing Market is estimated to reach USD 1.01 billion by 2032 with a CAGR of 7.45%.
The term "aircraft refurbishing" describes the modification of the aircraft's interior and appearance. Upgrading and renovating an aircraft may involve changing out parts, making structural repairs, updating the avionics, and other things. To lessen the gross weight of the aeroplane, many interior components are composed of various lightweight materials, such as plastic, board, form, cloth, and other composite materials. The companies that refurbish aeroplanes are concentrated on offering innovative, fuel-efficient, more robust, more reasonably priced, and lighter-weight aircraft. In order to incorporate fuel-efficient components into their aircrafts and offer consumers comfort and convenience, airline manufacturers are modernising and repairing their current fleets of aircraft. The expansion of the worldwide aeroplane refurbishing market is projected to be aided by elements including an increase in commercial aviation operations and rising demand from developing nations.
However, it is anticipated that throughout the projection period, the spike in production and delivery of new aircraft and the high maintenance cost of refurbished aircraft would restrain the expansion of the worldwide aircraft refurbishing market. In the near future, the market is anticipated to benefit from an increase in air travel activity, air traffic, and demand for luxury aircraft cabins. The global demand for aeroplane refurbishing has increased overall as a result of the growing demand for aircraft interiors. Passengers' increasing demand for first-rate experiences has also given rise to prosperous new business opportunities. Additionally, the market for aircraft refurbishing has more room to grow due to the rise in demand for narrow-body aircraft. The market for aeroplane refurbishing has grown as a result of increased fuel efficiency and decreased operating costs. The market has expanded as a result of the increase in end-user industries' purchases of ex-airliner aircraft for commercial usage.
Impact of COVID-19 on the Global Aircraft Refurbishing Market
Governments all around the world were driven by the COVID-19 outbreak to enact strict lockdown measures and limit import-export of goods used to produce raw materials. To stop the COVID-19 virus from spreading, governments everywhere imposed stringent lockdowns and mandated social seclusion. Consequently, several businesses started work from home programs as a preventative strategy. This caused a dramatic drop in travel demand on a global scale, which had an impact on the aviation sector. However, Omicron has a smaller effect outside of Asia, therefore international air traffic is still recovering. In recent years, the rise in air travel following the pandemic has provided enormous potential for businesses that renovate aircraft. Plans for a reopening are anticipated to provide impetus for the aircraft industry's revival, opening up new growth prospects for the market for aircraft refurbishing. By 2023, passenger traffic should return to its pre-COVID levels as it is currently recovering gradually. Airline route networks are being expanded, and new airlines are launching new domestic routes as demand for air travel returns to pre-COVID levels. These programs aim to quicken market expansion.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Refurbishing Service, By Aircraft Type, By Type, By End Use. |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | AFI KLM E&M, B/E Aerospace, Diehl Shiftung & Co. KG, Gulfstream Aerospace Ltd., Hong Kong Aircraft Engineering Co. Ltd, Jamco America Inc., Jet Aviation AG, Lufthansa Technik, Nextant Aerospace, Raytheon Technologies, Rose Aircraft Services, Sabreliner Aviation LLC, Safran SA, SIA Engineering Co. Ltd, Timco Aviation Services, Zodiac Aerospace, Inc.
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Global Aircraft Refurbishing Market Segmentation:
1. By Refurbishing Service:
2. By Aircraft Type:
- Very light aircraft
- Wide body aircraft
- Narrow body aircraft
- Large body aircraft
- VIP aircraft
3. By Type :
- Passenger to freighter
- Commercial Aircraft Cabin
- VIP Cabin Refurbishing
4. By End Use:
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Aircraft Refurbishing Market (FY’2019-FY’2032)
- Overview of Global Aircraft Refurbishing Market
- Segmentation of Global Aircraft Refurbishing Market By Refurbishing Service (Interior, Exterior)
- Segmentation of Global Aircraft Refurbishing Market By Aircraft Type (Very light aircraft, Wide body aircraft, Narrow body aircraft, Large body aircraft, VIP aircraft).
- Segmentation of Global Aircraft Refurbishing Market By Type (Passenger to freighter, Commercial Aircraft Cabin, VIP Cabin Refurbishing)
- Segmentation of Global Aircraft Refurbishing Market By End Use (Government, Commercial)
- Statistical Snap of Global Aircraft Refurbishing Market
- Growth Analysis of Global Aircraft Refurbishing Market
- Problems and Challenges in Global Aircraft Refurbishing Market
- Competitive Landscape in the Global Aircraft Refurbishing Market
- Impact of COVID-19 and Demonetization on Global Aircraft Refurbishing Market
- Details on Recent Investment in Global Aircraft Refurbishing Market
- Competitive Analysis of Global Aircraft Refurbishing Market
- Major Players in the Global Aircraft Refurbishing Market
- SWOT Analysis of Global Aircraft Refurbishing Market
- Global Aircraft Refurbishing Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Aircraft Refurbishing Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Aircraft Refurbishing Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Aircraft Refurbishing Market
7. Global Aircraft Refurbishing Market, By Refurbishing Service, 2019-2032 (USD Million)
7.1 Interior
7.2 Exterior
8. Global Aircraft Refurbishing Market, By Aircraft Type, 2019-2032 (USD Million)
8.1 Very light aircraft
8.2 Wide body aircraft
8.3 Narrow body aircraft
8.4 Large body aircraft
8.5 VIP aircraft
9. Global Aircraft Refurbishing Market, By Type 2019-2032 (USD Million)
9.1 Passenger to freighter
9.2 Commercial Aircraft Cabin
9.3 VIP Cabin Refurbishing
10. Global Aircraft Refurbishing Market, By End Use, 2019-2032 (USD Million)
10.1 Government
10.2 Commercial
11. Global Aircraft Refurbishing Market, By Region, 2019-2032 (USD Million)
11.1 Global Aircraft Refurbishing Market Size and Market Share by Region (2019-2025)
11.2 Global Aircraft Refurbishing Market Size and Market Share by Region (2026-2032)
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Europe
11.4.1 France
11.4.2 Germany
11.4.3 Italy
11.4.4 Spain
11.4.5 United Kingdom
11.4.6 Rest of Europe
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 Rest of Middle East & Africa
11.6 North America
11.6.1 Canada
11.6.2 Mexico
11.6.3 United States
11.7 Latin America
11.7.1 Argentina
11.7.2 Brazil
11.7.3 Rest of Latin America
12.Company Profiles
12.1 AFI KLM E&M
12.1.1 Company details
12.1.2 Financial outlook
12.1.3 Product summary
12.1.4 Recent developments
12.2 B/E Aerospace
12.2.1 Company details
12.2.2 Financial outlook
12.2.3 Product summary
12.2.4 Recent developments
12.3 Diehl Shiftung & Co. KG
12.3.1 Company details
12.3.2 Financial outlook
12.3.3 Product summary
12.3.4 Recent developments
12.4 Gulfstream Aerospace Ltd
12.4.1 Company details
12.4.2 Financial outlook
12.4.3 Product summary
12.4.4 Recent developments
12.5 Hong Kong Aircraft Engineering Co. Ltd
12.5.1 Company details
12.5.2 Financial outlook
12.5.3 Product summary
12.5.4 Recent developments
12.6 Jamco America Inc
12.6.1 Company details
12.6.2 Financial outlook
12.6.3 Product summary
12.6.4 Recent developments
12.7 Jet Aviation AG
12.7.1 Company details
12.7.2 Financial outlook
12.7.3 Product summary
12.7.4 Recent developments
12.8 Lufthansa Technik
12.8.1 Company details
12.8.2 Financial outlook
12.8.3 Product summary
12.8.4 Recent developments
12.9 Nextant Aerospace
12.9.1 Company details
12.9.2 Financial outlook
12.9.3 Product summary
12.9.4 Recent developments
12.10 Raytheon Technologies
12.10.1 Company details
12.10.2 Financial outlook
12.10.3 Product summary
12.10.4 Recent developments
12.11 Rose Aircraft Services
12.11.1 Company details
12.11.2 Financial outlook
12.11.3 Product summary
12.11.4 Recent developments
12.12 Sabreliner Aviation LLC
12.12.1 Company details
12.12.2 Financial outlook
12.12.3 Product summary
12.12.4 Recent developments
12.13 Safran SA
12.13.1 Company details
12.13.2 Financial outlook
12.13.3 Product summary
12.13.4 Recent developments
12.14 SIA Engineering Co. Ltd
12.14.1 Company details
12.14.2 Financial outlook
12.14.3 Product summary
12.14.4 Recent developments
12.15 Timco Aviation Services
12.15.1 Company details
12.15.2 Financial outlook
12.15.3 Product summary
12.15.4 Recent developments
12.16 Zodiac Aerospace, Inc
12.16.1 Company details
12.16.2 Financial outlook
12.16.3 Product summary
12.16.4 Recent developments
13.List of Abbreviations
14.Reference Links
15.Conclusion
16.Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
