Jan 04, 2021 (The Expresswire) -- Global “ Aircraft Maintainence Repair and overhauling Market ”Report 2021 studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. Also, Aircraft Maintainence Repair and overhauling Market is predicted to grow at a CAGR of 6.17 during the forecast period. And report provides a complete market overview, a list of top manufactures, the scope of the report, key market trends of the Aircraft Maintainence Repair and overhauling market, and the main aspect of the report- why do you have to buy this research report? So don’t miss it.
The report gives - Who are the global key players in this keyword market? What are their company profile, product information, and contact information? What Was the Global Market Status of Aircraft Maintainence Repair and overhauling Market? What Was Capacity, Production Value, Cost and PROFIT of Aircraft Maintainence Repair and overhauling Market?
Get a Sample PDF of Aircraft Maintainence Repair and overhauling Market 2021
Aircraft Maintainence Repair and overhauling Market Overview 2021:
The aircraft maintenance, repair and overhaul market are anticipated to register a CAGR of 6.17% over the forecast period 2018 - 2023. Different MROs have introduced improvement processes to enhance aircraft efficiency and several are using new technological systems to gain additional upgrades and prepare for the bigger data requirements of next-generation aircraft. The aircraft maintenance, repair and overhaul market are expected to reach USD 100.79 billion in 2023.
INCREASING FLEET SIZE
In 2013, aviation industry came out of the effects of the global economic recession to record post-tax profit of USD 10.6 billion. This was achieved as a result of an increase in demand, positive impact on cash flow of industry restructuring and slightly lower than expected fuel costs. This positive growth has fueled the growth of civilian aircraft fleet sizes all over the world thereby driving the aircraft MRO market.
The aviation market has reported a rapid increase in traffic across the globe, and this has allowed the airlines to provide frequent flights and place orders for new aircraft. Indigo, an Indian airline, placed an order for 150 Airbus A320 in 2010 when it began operations in the domestic sector. Airbus and Boeing together have a combined order backlog of 18,000 aircraft as of 2017.
The year 2013 saw a 2% increase over 2012, concerning number of scheduled flight services; more than 31.6 million. The civilian aircraft fleet is expected to grow from around 28,000 in 2014 to more than 35,500 by 2022.
In 2015, aviation industry saw the most significant orders for the purchase of a narrow body jet when Indigo Airlines of India placed a second order for 250, A320 aircraft to cater to the increasing demands of connectivity and regular services. The delivery of these aircraft will begin in 2017 and are expected to be finished post-2021. This order is not one of its kinds. Led by increasing penetration of commercial airliners in emerging markets, the number of aircrafts in service has been multiplying, and this is providing the necessary impetus to the global aircraft maintenance and repair operations market.
This increase in fleet size in the military aircraft market is led by huge spending increase from Saudi Arabia, India, and Russia, the military aircraft market has been experiencing high growth. India and Saudi Arabia, in particular, have been ramping up their purchases due to growing tensions in the respective regions. One of the most recent high profile orders was the purchase of 36 Dassault Rafale aircrafts by India in 2015 and a massive order for Saab Gripen is expected from Brazil soon. India also released intentions for purchase of 250 fighter aircrafts that will serve the medium role and attack requirements in the countryâs Defense. Helicopters and transport aircraft number in operation has also seen a dramatic rise in numbers in the past decade reaching an estimated share of 60% by fleet size for global military aircraft.
INCREASING CUSTOMER PREFERENCE TOWARDS LCC AIRLINES
Low-cost carriers are expanding at a fast pace in the airline's industry. Many profitable airlines in the world like that of Southwest Airlines, Ryan Air, and Indigo are low-cost carriers. Low-cost carriers occupy more than 1/4th of the Middle East and Africa airline market, and they are well poised on their way to occupy 1/3rd of the market share in a few years. Thereby, passengers who are willing to pay a substantial amount of money per ticket to travel via full-cost airlines are expecting more facilities, and even regular passengers of full-cost airlines sometimes shift towards low-cost airlines because of reduced fares and little difference in amenities offered. This has been evident in the Indian aviation sector, where even high-income passengers were observed to shift to Indigo from full-service carriers like Jet Airways and Air India. These carriers, which used to have infotainment systems on their aircraft up until four-five years ago, now have removed these systems from their domestic services. As a result, the only major difference that remains between them and low-cost airlines now is the meal that is provided. Thus, full-cost airlines are experiencing the crunch, in the form of lower load factors, than low-cost carriers. In 2015, three out of four most profitable airlines in US (barring Alaska Airlines), were low-cost airlines. This trend gives an indication towards the general state of full-service airlines. With such tough competition from low-cost players, full-fare carriers are trying to add value to the services they provided to customers. In order to maintain the growing LCC flights in operating conditions, necessary MRO services should be available thereby driving the aircraft MRO market.
Get a Sample PDF of the Report @ https://www.360marketupdates.com/enquiry/request-sample/12885177
Top Key-players/Leading Manufacturers of Aircraft Maintainence Repair and overhauling Market:
● AAR CORPORATION ● AFI KLM ● DELTA TECHOPS ● GE AVIATION ● GMF ● HAECO ● IBERIA MAINTENANCE ● LUFTHANSA TECHNIK ● MTU AERO ENGINES ● PRATT and WHITNEY AMONGST OTHERS.
With tables and figures helping analyze the worldwide Global Aircraft Maintainence Repair and overhauling market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
The Global Aircraft Maintainence Repair and overhauling market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT - REQUEST SAMPLE
Key Developments in the Aircraft Maintainence Repair and overhauling Market:
This Aircraft Maintainence Repair and overhauling Market Research/analysis Report Contains Answers to your following Questions
Inquire more and share questions if any before the purchase of this report @ https://www.360marketupdates.com/enquiry/pre-order-enquiry/12885177
Reasons to Purchase Aircraft Maintainence Repair and overhauling Market Report:
Purchase this report (Price 4250 USD for a single-user license) @ https://www.360marketupdates.com/purchase/12885177
About 360 Market Updates: