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Taking Flight : The Soaring Potential of the Aircraft Refurbishing Market

Taking Flight : The Soaring Potential of the Aircraft Refurbishing Market

Aircraft Refurbishing Market Trend

OREGAON, PORTLAND, UNITED STATESย , November 28, 2023 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Aircraft Refurbishing Market by Refurbishing Service (Interior, Exterior), by Aircraft Type (Very light aircraft, Wide body aircraft, Narrow body aircraft, Large body aircraft, VIP aircraft), by Type (Passenger to freighter, Commercial Aircraft Cabin, VIP Cabin Refurbishing), by End Use (Government, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global aircraft refurbishing industry was pegged at $456.7 million in 2021, and is expected to reach $932.5 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.

โžก๏ธ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ –https://www.alliedmarketresearch.com/request-sample/9465

The key players that operate in this aircraft refurbishing market are๐€๐ฎ๐ญ๐จ๐ญ๐ซ๐š๐๐ž ๐€๐ฏ๐ข๐š๐ญ๐ข๐จ๐ง ๐๐ฏ๐ญ. ๐‹๐ญ๐., ๐€๐…๐ˆ ๐Š๐‹๐Œ ๐„&๐Œ, ๐ƒ๐ข๐ž๐ก๐ฅ ๐’๐ญ๐ข๐Ÿ๐ญ๐ฎ๐ง๐  & ๐‚๐จ. ๐Š๐†, ๐ƒ๐ฎ๐ง๐œ๐š๐ง ๐€๐ฏ๐ข๐š๐ญ๐ข๐จ๐ง ๐ˆ๐ง๐œ., ๐†๐ฎ๐ฅ๐Ÿ๐ฌ๐ญ๐ซ๐ž๐š๐ฆ ๐€๐ž๐ซ๐จ๐ฌ๐ฉ๐š๐œ๐ž ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง, ๐‡๐จ๐ง๐  ๐Š๐จ๐ง๐  ๐€๐ข๐ซ๐œ๐ซ๐š๐Ÿ๐ญ ๐„๐ง๐ ๐ข๐ง๐ž๐ž๐ซ๐ข๐ง๐  ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ฒ ๐‹๐ข๐ฆ๐ข๐ญ๐ž๐, ๐‰๐š๐ฆ๐œ๐จ ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š, ๐ˆ๐ง๐œ., ๐‰๐ž๐ญ ๐€๐ฏ๐ข๐š๐ญ๐ข๐จ๐ง ๐€๐†, ๐‹๐ฎ๐Ÿ๐ญ๐ก๐š๐ง๐ฌ๐š ๐“๐ž๐œ๐ก๐ง๐ข๐ค ๐€๐†, ๐Œ๐€๐‚ ๐€๐ž๐ซ๐จ ๐ˆ๐ง๐ญ๐ž๐ซ๐ข๐จ๐ซ๐ฌ, ๐๐ž๐ฑ๐ญ๐š๐ง๐ญ ๐€๐ž๐ซ๐จ๐ฌ๐ฉ๐š๐œ๐ž, ๐‘๐š๐ฒ๐ญ๐ก๐ž๐จ๐ง ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง, ๐‘๐จ๐ฌ๐ž ๐€๐ข๐ซ๐œ๐ซ๐š๐Ÿ๐ญ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ, ๐ˆ๐ง๐œ., ๐’๐š๐›๐ซ๐ž๐ฅ๐ข๐ง๐ž๐ซ ๐€๐ฏ๐ข๐š๐ญ๐ข๐จ๐ง, ๐’๐š๐Ÿ๐ซ๐š๐ง ๐’.๐€., ๐š๐ง๐ ๐’๐ˆ๐€ ๐„๐ง๐ ๐ข๐ง๐ž๐ž๐ซ๐ข๐ง๐  ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ฒ.

The report analyzes these key players in the global aircraft refurbishing market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

๐Œ๐š๐ฃ๐จ๐ซ ๐๐ž๐ญ๐ž๐ซ๐ฆ๐ข๐ง๐š๐ง๐ญ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก

Increase in operations in commercial aviation and surge in demand from emerging countries have boosted the growth of the global aircraft refurbishing market. However, increase in production and deliveries of new aircraft and high maintenance cost of refurbishing hinder the market growth. On the contrary, increase in air travel activities & air traffic and surge in demand for premium cabins would open lucrative opportunities in the future.

๐“๐ก๐ž ๐ž๐ฑ๐ญ๐ž๐ซ๐ข๐จ๐ซ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐ญ๐จ ๐ฆ๐š๐ง๐ข๐Ÿ๐ž๐ฌ๐ญ ๐ญ๐ก๐ž ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ

By refurbishing service, the exterior segment is estimated to portray the ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐จ๐Ÿ ๐Ÿ•.๐Ÿ”% ๐๐ฎ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐Ÿ๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐ฉ๐ž๐ซ๐ข๐จ๐, due to increase in investment for technological advancements in aircraft systems and lightweight & fuel-efficient aircraft. However, the interior segment held the largest share in 2021, accounting for more than three-fifths of the global aircraft refurbishing market, owing to increase in demand for refurbishment of interior parts to enhance the aesthetics and provide better safety, and optimize the space.

โžก๏ธ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ – https://www.alliedmarketresearch.com/aircraft-refurbishing-market/purchase-options

๐“๐ก๐ž ๐ฐ๐ข๐๐ž ๐›๐จ๐๐ฒ ๐š๐ข๐ซ๐œ๐ซ๐š๐Ÿ๐ญ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐๐จ๐ฆ๐ข๐ง๐š๐ญ๐ž๐ ๐ญ๐ก๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ

By aircraft type, the wide body aircraft segment held the largest share in 2021, contributing to more than two-fifths of the global aircraft refurbishing market. In addition, the segment is projected to manifest the ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐จ๐Ÿ ๐Ÿ•.๐Ÿ–% ๐๐ฎ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐Ÿ๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐ฉ๐ž๐ซ๐ข๐จ๐, owing to rise in use of wide-body aircraft for passenger transport. The report includes an analysis of the very light aircraft, narrow body aircraft, large body aircraft, and VIP aircraft segments.

๐“๐ก๐ž ๐ฉ๐š๐ฌ๐ฌ๐ž๐ง๐ ๐ž๐ซ ๐ญ๐จ ๐Ÿ๐ซ๐ž๐ข๐ ๐ก๐ญ๐ž๐ซ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐ก๐ž๐ฅ๐ ๐ญ๐ก๐ž ๐ฅ๐š๐ซ๐ ๐ž๐ฌ๐ญ ๐ฌ๐ก๐š๐ซ๐ž

By type, the passenger to freighter segment dominated the market in 2021 in terms of revenue, accounting for more than two-fifths of the global aircraft refurbishing market, due to increase in use of P2F conversions to extend the lifespan of passenger jets. However, the VIP cabin refurbishing segment is expected to showcase the ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐จ๐Ÿ ๐Ÿ–.๐ŸŽ% ๐๐ฎ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐Ÿ๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐ฉ๐ž๐ซ๐ข๐จ๐, owing to increase in demand for aircraft refurbishment of the cabin including luxurious bedrooms, bathroom, private offices, lounge, and surge in need for maintenance & repair of aircraft.

๐“๐ก๐ž ๐œ๐จ๐ฆ๐ฆ๐ž๐ซ๐œ๐ข๐š๐ฅ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐ญ๐จ ๐ฌ๐ก๐จ๐ฐ๐œ๐š๐ฌ๐ž ๐ญ๐ก๐ž ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ

By end use, the commercial segment is expected to register the highest CAGR of 7.6% during the forecast period. In addition, the segment held the largest share in 2021, contributing to more than half of the global aircraft refurbishing market, due to surge in investment in high-performing aircraft and increase in demand for safety, & comfort for customers.

โžก๏ธ๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐  – https://www.alliedmarketresearch.com/purchase-enquiry/9465

๐€๐ฌ๐ข๐š-๐๐š๐œ๐ข๐Ÿ๐ข๐œ ๐ก๐ž๐ฅ๐ ๐ญ๐ก๐ž ๐ฅ๐ข๐จ๐ง’๐ฌ ๐ฌ๐ก๐š๐ซ๐ž

By region, the market Asia-Pacific held the largest share in 2021, accounting for more than one-third of the market. In addition, the region is expected to register the ๐ก๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐‚๐€๐†๐‘ ๐จ๐Ÿ ๐Ÿ•.๐Ÿ—% ๐๐ฎ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐Ÿ๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐ฉ๐ž๐ซ๐ข๐จ๐, owing to supportive government initiatives in the aviation sector, rise in commercial aircraft fleet & air traffic. The report includes an analysis of the global aircraft refurbishing market across North America, LAMEA, and Europe.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜
๐Ÿ‘‰By refurbishing service, the exterior based segment is expected to register a significant growth during the forecast period.
๐Ÿ‘‰By aircraft type, the wide body aircraft segment is expected to register a significant growth during the forecast period.
๐Ÿ‘‰By type, the VIP cabin refurbishing segment is projected to lead the global Aircraft Refurbishing market
๐Ÿ‘‰By end use, the commercial segment is projected to lead the global Aircraft Refurbishing market
๐Ÿ‘‰Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

๐’๐ข๐ฆ๐ข๐ฅ๐š๐ซ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐–๐ž ๐‡๐š๐ฏ๐ž ๐จ๐ง ๐€๐ข๐ซ๐œ๐ซ๐š๐Ÿ๐ญ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:

https://www.alliedmarketresearch.com/aircraft-maintenance-market-A13203 – Aircraft Maintenance Market Size, Share, Competitive Landscape and Trend Analysis Report by Maintenance Type (Engine, Line Maintenance, Airframe, Components, Others), by Aircraft Type (Narrow-body Aircrafts, Wide-body Aircrafts, Others) and by End-Use (Commercial, Military, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/aircraft-line-maintenance-market-A09099 – Aircraft Line Maintenance Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft, Regional Aircraft), by Application (Component Replacement Rigging Service, Defect Rectification Service, Engine APU Service, Aircraft on Ground (AOG) Service, Line Station Setup Management Service) and by Technology (Traditional Line Maintenance, Digital Line Maintenance): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/aircraft-line-maintenance-market-A09099 – Aircraft Line Maintenance Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft, Regional Aircraft), by Application (Component Replacement Rigging Service, Defect Rectification Service, Engine APU Service, Aircraft on Ground (AOG) Service, Line Station Setup Management Service) and by Technology (Traditional Line Maintenance, Digital Line Maintenance): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/non-destructive-testing-in-the-aerospace-and-defense-market-A13483 – Non-destructive Testing (NDT) in the Aerospace and Defense Market Size, Share, Competitive Landscape and Trend Analysis Report by Method (Visual Inspection, Surface Inspection, Volumetric Inspection, Others) and by Technology (Visual Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Ultrasonic Testing, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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Article originally published on www.einpresswire.com as Taking Flight : The Soaring Potential of the Aircraft Refurbishing Market