OREGAON, PORTLAND, UNITED STATES , July 11, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Aircraft Refurbishing Market," The aircraft refurbishing market was valued at $456.70 million in 2021, and is estimated to reach $932.5 million by 2031, growing at a CAGR of 7.2% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 - https://www.alliedmarketresearch.com/request-sample/A09100

There are prominent key factors that drive the growth of the aircraft refurbishing market such as rise in operations in the commercial aviation, and increase in demand from emerging regions. The market economy is also responsible for the growth of the market. Emerging countries in the region, such as India and China, are experiencing significant increases in civil aviation markets due to increased demand for air travel. Thus, the aerospace sector is witnessing prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the aircraft refurbishing industry.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞

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 highest CAGR of 7.9% during the forecast period, 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.

𝐓𝐡𝐞 𝐞𝐱𝐭𝐞𝐫𝐢𝐨𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟏

By refurbishing service, the exterior segment is estimated to portray the highest CAGR of 7.6% during the forecast period, 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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/aircraft-refurbishing-market/purchase-options

𝐓𝐡𝐞 𝐰𝐢𝐝𝐞 𝐛𝐨𝐝𝐲 𝐚𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

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 highest CAGR of 7.8% during the forecast period, 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.

𝐓𝐡𝐞 𝐩𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐭𝐨 𝐟𝐫𝐞𝐢𝐠𝐡𝐭𝐞𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞

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 highest CAGR of 8.0% during the forecast period, 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.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐬𝐡𝐨𝐰𝐜𝐚𝐬𝐞 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟏

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A09100

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫

AFI KLM E&M
B/E Aerospace
Diehl Shiftung & Co. KG
Gulfstream Aerospace Ltd.
Hong Kong Aircraft Engineering Co. Ltd.
Jamco America Inc.
Jet Aviation AG
Lufthansa Technik
Nextant Aerospace
Raytheon Technologies
Rose Aircraft Services
Sabreliner Aviation LLC
Safran SA
SIA Engineering Co. Ltd.
Timco Aviation Services
Zodiac Aerospace, Inc.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/aircraft-maintenance-market-A13203 - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/aircraft-line-maintenance-market-A09099 - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/aircraft-leasing-and-rental-market-A09063 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
+1 800-792-5285
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