Aircraft Line Maintenance Market
Aircraft Line Maintenance Market Size Valued at USD 19.20 Billion, market Grow at a CAGR Of 5% by 2020 -2030.
The aircraft line maintenance market is growing with the rapid pace. According to a recent study report published by the Market Research Future, the global market of aircraft line maintenance will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2030, which will be a surplus growth at a moderate CAGR during the projected period (2020 -2030).
The high demand for aircraft line maintenances is due to the growth in the aircraft MRO services. Many new aircraft line maintenance centers have been setup in numerous countries in recent years. This increases the participation of regional companies in the field of aircraft line maintenance market. Moreover, the growing international trade between countries have increased frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplanes to ensure efficient performance and safe air travel. Rapid fleet expansion is estimated to gain higher popularity during the forecast period. The growing initiatives towards aircraft safety enhance the growth of the aircraft line maintenance market. However, the scarcity of skilled manpower, complexity in technical documentation procedures, and supervision of line maintenance acts as a barrier for the growth of aircraft line maintenance market.
The Aircraft Line Maintenance Market is completely dependent on the aircraft fleet management. Thus, the increasing or decreasing demand of the aircraft fleet directly has an impact on the market. Moreover, the increase in the sales of aircraft has mainly been because of competitive and diverse options available for finance. Another factor responsible for the increase in aircraft fleet management is increased focus of OEM on aircraft line maintenance and rapid aircraft fleet expansion. This is the primary factor that drives the growth of the aircraft line maintenance market and has gained prevalence in the recent times, with usage of best-in-class technologies in aircraft. Thus, the growth of the aircraft line maintenance market is expected to go hand in hand with the growth of aircraft industry.
The expansion of the commercial and military aircraft fleets, which has resulted in the development of a set of aircraft line maintenance market. The increase focus of OEMs on aircraft line maintenance will lead to an increase in use of commercial aircraft, due to which there will be growth in aircraft line maintenance market. The expansion of the existing commercial and military aircraft fleets along with the launch of new airlines, would result in increased aircraft line maintenance the forthcoming years. Hence, it is expected that the rapid fleet expansion would eventually drive the aircraft line maintenance market. Moreover, it is expected that the retirement of maintenance-intensive aircraft and the introduction of new generation aircraft, will lower the man-hours per maintenance visit.
Aircraft line maintenance is gaining acceptance as performance-based logistics contracts are gaining popularity in the aviation field. Airline companies, across the globe, are extensively outsourcing the maintenance and logistics support contracts of their respective aircraft. This enables faster response to crisis situations and adaptation to the dynamic technological advances in the industry. Such cutthroat competition in the aircraft industry requires massive investments at a regular basis, thus the high capital investment in the aircraft line maintenance market is expected to act as a hurdle in the growth of the market.
Key Players:
The leading Aircraft Line Maintenance Market Players are primarily including Delta TechOps, Lufthansa Technik, Monarch Aircraft Engineering, SIA Engineering Company, SR Technics, British Airways Engineering, Hong Long Aircraft Engineering, TAP Maintenance Engineering, and Turkish Technic.
Aircraft Line Maintenance Market Competitive Analysis
The global Aircraft Line Maintenance Market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain the maximum market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are the key factors that confront the market growth. In addition, in-house manufacturing capabilities, global footprint network, product offerings, RD investments, and a strong client base have become the key areas to have the edge over the competitors.
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide advanced and high-quality aircraft line maintenance so as to survive and succeed in an intensely competitive market environment.
Industry/ Innovation/ Related News:
February 2018 - SIA Engineering Company Limited (SIAEC) and GE Aviation (GE) announced that it signed a joint venture agreement to form an engine overhaul joint venture based in Singapore.
December 2017 Monarch aircraft engineering limited (MAEL), signed a new base maintenance agreement with La Compagnie.
December 2015 Delta TechOps signed a long-term maintenance contract with Virgin Australia to perform maintenance, repair and overhaul services for Virgin Australias fleet of CFM56-7B engines.
September 2014 British Airways line maintenance had won the contract to provide technical handling for Qatar Airways 787 flights in Edinburgh.
Aircraft Line Maintenance Market Segmentation
TheAircraft line maintenance Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by Aircraft Type Insight
Comprises Wide body aircraft, Narrow body aircraft and regional jet
Segmentation by Platform Insight
Comprises Commercial Aviation, Military Aviation and Business Aviation
Segmentation by Regions Insight
Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East Africa and South America.
Aircraft Line Maintenance Market: Regional Analysis Outlook
European market is dominating the market of aircraft line maintenance market due to growth in commercial and military aircrafts. The market in the developing countries is largely driven by growing demand for maintenance services, which helps in growth of aircraft line maintenance market.
Asia Pacific is referred to as the second-largest aircraft line maintenances market due to factors such as maximum air traffic and better demand for maintenance services have fueled the demand for aircraft line maintenance market.
Aircraft Line Maintenance Market: Information by Service (Component Replacement Rigging Service, Engine APU Service, Line Station Setup Management Service, Defect Rectification Service, and Aircraft on Ground (AOG) Service), Type (Transit Checks and Routine Checks), Technology (Traditional Line Maintenance and Digital Line Maintenance), Application (Commercial Aviation, Military Aviation, and Business and General Aviation), and Region - Forecast till 2030
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