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As passenger safety is the most important aspect of the airline industry, operations with older aircraft can be dangerous and, therefore, need to be retired or refurbished. Hence, aircraft refurbishment is an important process that involves cleaning, repair, renovation, and maintenance of aircraft to transform older aircraft back to their airworthy condition. Refurbishment is carried out in hangers or refurbishment yards. Commercial aircraft refurbishment is an economical solution for airline operators when they have fleets that are operating well but are not up-to-date.
Scope of the Report: Research analysis on the global aircraft refurbishing market identifies that the rising demand for effective aircraft operations will be one of the major factors that will have a positive impact on the market’s growth. Aircraft manufacturers are constantly focusing on providing better cabin interiors by modernizing it with lightweight seats. The utilization of lightweight seats will reduce the weight of aircraft interior equipment by 10% since it substitutes all the traditional foam padding with an elastic polyester netting material. This also benefits the airlines services by increasing fuel savings since it utilizes composite fibers that improve flight range and offer higher payload capacity. For instance, the use of composites in Airbus A350 and Boeing 787 reduced aircraft weight by 20% and is expected to offer about 25% improvement in fuel consumption rates. Such initiatives towards weight reduction and improving fuel efficiency will subsequently drive the growth of the aircraft refurbishing market during the forecast period.This market will grow at a CAGR of nearly 5.82% by 2021.
The growth in air travel will be one of the key trends that will contribute to the growth of this market. Factors such as the rise in economic rates and the growing preference for low-cost air carriers is increasing the demand for air travel. This will lead to the rise in adoption of refurbished and newer-generation aircrafts that assist airlines to serve more passengers and increase their connectivity points across the globe. India, China, Indonesia, the US, and Russia are the major countries where the demand for air travel is witnessing a significant increase.
Table of Contents PART 01: Executive summary PART 02: Scope of the report PART 03: Research Methodology PART 04: Introduction • Market outline PART 05: Market landscape • Market overview • Market size and forecast • Five forces analysis PART 06: Market segmentation by aircraft type • Global aircraft refurbishment market segmentation by aircraft type • Global aircraft refurbishment market for narrow-body aircraft • Global aircraft refurbishment market for wide-body aircraft • Global aircraft refurbishment market for VIP aircraft • Global aircraft refurbishment market for passenger-to-freight aircraft PART 07: Geographical segmentation • Global aircraft refurbishment market segmentation by geography • Aircraft refurbishment market in Americas • Aircraft refurbishment market in EMEA • Aircraft refurbishment market in APAC PART 08: Decision framework PART 09: Drivers and challenges • Market drivers • Market challenges PART 10: Market trends • Growing demand for VIP cabins • Adoption of newer-generation technology • Growth in air travel PART 11: Vendor landscape • Competitive Landscape • Other prominent vendors PART 12: Key vendor analysis • AAR • Ameco • Aviation Partners Boeing • L-3 Communications Aviation Recorders • ST Aerospace
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