The global aircraft refurbishing market size reached US$ 32.3 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 46.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.0% during 2023-2032. The increasing number of operations in commercial aviation due to a considerable rise in air travel activities and the escalating demand for improved quality aircraft cabins represent some of the key factors driving the market.
Aircraft refurbishing is a process of upgrading the existing system of aircraft with the latest technologies and providing a visually pleasing appearance to the aircraft. It is an end-to-end process for the replacement and maintenance of aircraft, which includes inspection, overhaul, replacement, defect rectification, and design modification. An aircraft refurbishing project can involve paint-stripping and corrosion treatment, new liveries, polishing, and updating registration marks if the aircraft is changing ownership. Airlines can also retrofit navigation and communication systems with modern avionics with the help of refurbishment activities. Aside from this, the lavatory, overhead bins, sidewall liners, monuments, windows, cabin lighting, passenger seats, and carpets are generally replaced. With the goal of extending the lifespan of the aircraft without compromising safety or comfort, innovative, fuel-saving, more durable, less expensive and lighter aircraft components are provided during refurbishing.
2. What is the expected growth rate of the global aircraft refurbishing market during 2024-2032?
3. What are the key factors driving the global aircraft refurbishing market?
4. What has been the impact of COVID-19 on the global aircraft refurbishing market?
5. What is the breakup of the global aircraft refurbishing market based on the type?
6. What is the breakup of the global aircraft refurbishing market based on the refurbishing service?
7. What is the breakup of the global aircraft refurbishing market based on the aircraft type?
8. What are the key regions in the global aircraft refurbishing market?
9. Who are the key players/companies in the global aircraft refurbishing market?
Aircraft refurbishing is a process of upgrading the existing system of aircraft with the latest technologies and providing a visually pleasing appearance to the aircraft. It is an end-to-end process for the replacement and maintenance of aircraft, which includes inspection, overhaul, replacement, defect rectification, and design modification. An aircraft refurbishing project can involve paint-stripping and corrosion treatment, new liveries, polishing, and updating registration marks if the aircraft is changing ownership. Airlines can also retrofit navigation and communication systems with modern avionics with the help of refurbishment activities. Aside from this, the lavatory, overhead bins, sidewall liners, monuments, windows, cabin lighting, passenger seats, and carpets are generally replaced. With the goal of extending the lifespan of the aircraft without compromising safety or comfort, innovative, fuel-saving, more durable, less expensive and lighter aircraft components are provided during refurbishing.
Aircraft Refurbishing Market Trends:
The growing operations in commercial aviation due to a considerable rise in air travel activities is one of the key factors driving the growth of the market. In line with this, the growing air passenger traffic resulting in an escalating demand for improved quality aircraft cabins is providing an impetus to the market. Moreover, the increasing expenditure of maintaining aircraft has led to the augmenting need for outsourcing aircraft-related maintenance and refurbishing services by aircraft manufacturing and operating firms, which, in turn, is propelling the market demand. The market is also driven by the emerging trend of using 3D printing technology for manufacturing aircraft interiors by leading manufacturers. The increasing popularity of narrow body aircraft for short- and medium-haul routes is creating lucrative growth opportunities for the market as they require periodic refurbishing. A considerable rise in passenger to freighter aircraft conversions to extend the economic life of an airplane is also creating a positive outlook for the market. Additionally, the implementation of creative and constructive approaches focusing on enhanced passenger safety and comfort is fueling the market growth. Furthermore, growing investments by civil aviation companies for brand-value growth of operating firms are providing a boost to the market. Some of the other factors contributing to the market include numerous mergers and acquisitions (M&As), partnerships and collaborations, augmenting demand for aircraft interiors by business jet owners for VIP refurbishing, continual technological advancements, and extensive research and development (R&D) activities conducted by key players.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global aircraft refurbishing market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type, refurbishing service, and aircraft type.Type Insights:
- Commercial Aircraft Cabin
- VIP Cabin Refurbishing
Passenger to Freighter
The report has provided a detailed breakup and analysis of the aircraft refurbishing market based on the type. This includes commercial aircraft cabin, VIP cabin refurbishing, and passenger to freighter. According to the report, commercial aircraft cabin represented the largest segment.Refurbishing Service Insights:
- Interior
Exterior
The report has provided a detailed breakup and analysis of the aircraft refurbishing market based on the refurbishing service. This includes interior and exterior. According to the report, interior exhibited a clear dominance in the market.Aircraft Type Insights:
- Very Light Aircraft
- Wide Body Aircraft
- Narrow Body Aircraft
- Large Body Aircraft
VIP Aircraft
A detailed breakup and analysis of the aircraft refurbishing market based on the aircraft type has also been provided in the report. This includes very light aircraft, wide body aircraft, narrow body aircraft, large body aircraft and VIP aircraft. According to the report, narrow body aircraft accounted for the largest market share.Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for aircraft refurbishing. Some of the factors driving the North America aircraft refurbishing market included rapid urbanization, the augmenting demand for aircraft interiors by business jet owners for VIP refurbishing, emerging trend of using 3D printing technology for the manufacturing of aircraft interiors, etc.Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global aircraft refurbishing market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Air France-KLM S.A., Ascent Aviation Services, Diehl Stiftung & Co. KG (Diehl Verwaltungs-Stiftung), Gulfstream Aerospace Corporation (General Dynamics Corporation), Hong Kong Aircraft Engineering Company Limited, InTech Aerospace, Jamco America Inc. (JAMCO Corporation), Lufthansa Technik AG (Deutsche Lufthansa AG), Nextant Aerospace, Rose Aircraft Services, Safran S.A., SIA Engineering Co. Ltd. (Singapore Airlines), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global aircraft refurbishing market?2. What is the expected growth rate of the global aircraft refurbishing market during 2024-2032?
3. What are the key factors driving the global aircraft refurbishing market?
4. What has been the impact of COVID-19 on the global aircraft refurbishing market?
5. What is the breakup of the global aircraft refurbishing market based on the type?
6. What is the breakup of the global aircraft refurbishing market based on the refurbishing service?
7. What is the breakup of the global aircraft refurbishing market based on the aircraft type?
8. What are the key regions in the global aircraft refurbishing market?
9. Who are the key players/companies in the global aircraft refurbishing market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Aircraft Refurbishing Market
6 Market Breakup by Type
7 Market Breakup by Refurbishing Service
8 Market Breakup by Aircraft Type
9 Market Breakup by Region
10 Drivers, Restraints, and Opportunities
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Air France–KLM S.A.
- Ascent Aviation Services
- Diehl Stiftung & Co. KG (Diehl Verwaltungs-Stiftung)
- Gulfstream Aerospace Corporation (General Dynamics Corporation)
- Hong Kong Aircraft Engineering Company Limited
- InTech Aerospace
- Jamco America Inc. (JAMCO Corporation)
- Lufthansa Technik AG (Deutsche Lufthansa AG)
- Nextant Aerospace
- Rose Aircraft Services
- Safran S.A.
- SIA Engineering Co. Ltd. (Singapore Airlines)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( US$ | US$ 32.3 Billion |
| Forecasted Market Value ( US$ | US$ 46.1 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
