aircraft refurbishing market size reached USD 4.55 Billion in 2020 and is expected to register a revenue CAGR of 5.6%, during the forecast period, according to latest analysis by Emergen Research. Steady increase in demand for attractive interior designs along with development of in-flight entertainment systems is a key factor driving market revenue growth. Rising competition among domestic and international airline carriers and need to comply with various standards, drive brand value, and offer more enhanced flight experience are some key factors resulting in refurbishing of aircraft and installation or more attractive interior design.
Increasing focus on more advanced and efficient and enhanced travelling experience has been resulting in opening up of new and more lucrative revenue opportunities for players in the aircraft refurbishing industry. Interiors, including cabins and cockpits, are restructured and redesigned during refurbishment, and these processes provide additional benefits, including reduced operational costs and improved end-user travel experience. Aircraft refurbishing service providers continue to explore more efficient and cost-effective, and visually appealing ways of refurbishing aircraft. In addition, consumer electronics are also integrated and repackaged as in-flight entertainment system components.
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Because these electronic components have a limited lifespan, aircraft refurbishment plays a crucial role in keeping these components ahead of the competition and avoid obsolescence. Furthermore, because these technologies are rapidly becoming obsolete, key players have the opportunity to design, manufacture, and install customized in-flight entertainment systems while keeping up with new technological innovations. This factor is expected to create favorable business opportunities for market players in the near future.
The research further screens and analyses data on the market share, growth rate and size to enable stakeholders, product owners and field marketing executives identify the low-hanging fruits and reap a significant return on their investment. Importantly, the data on the current business environment of the Aircraft Refurbishing market proves a boon for companies trying to identify next leg for growth.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Hong Kong Aircraft Engineering Company Limited, Singapore Technologies Engineering Aerospace, Lufthansa Technik AG, AAR Corporation, Rolls Royce Holdings PLC, SIA Engineering Company Limited, Delta TechOps, SR Technics Switzerland AG, Turkish Technic, and MRO Holdings, Inc.
Market Dynamics:
The report offers insightful information about the market dynamics of the Aircraft Refurbishing market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Aircraft Refurbishing market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Aircraft Refurbishing market.
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Emergen Research has segmented the global aircraft refurbishing on the basis of aircraft type, refurbishing type, applications, fitting type, and region:
Researcher’s visibility engagement approach when evaluating data such as key driving forces, threats, challenges, opportunities empowers product owners to meet their strategic goals through accelerated returns. The intelligent market survey that blends in both new and old study techniques brings to light more information pertaining to various product types, applications, end-use and important industry definition. The research on the Aircraft Refurbishing market further validates other prime factors including investment feasibility, production capability, product pricing, production volume, demand and supply, import and export status to help business evangelists make the multi-dimensional marketing strategy more robust. Comprehensive data on the current and future business environment is showcased through self-explanatory infographics, charts, and tables and can be integrated with any business presentation.
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Highlights of the Aircraft Refurbishing Market Report:
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