The global aircraft line maintenance market size is expected to reach USD 23.67 billion by 2027, exhibiting a CAGR of 5.06% during the forecast period. The growing concerns regarding public safety and management will spur opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Aircraft Line Maintenance Market Size, Share & Industry Analysis, By Type (Transit Checks, and Routine Checks), By Aircraft Type (Commercial, Military), By Platform (Traditional Line Maintenance, Digital Line Maintenance), By Service (Engine and APU Service, Component Replacement and Rigging Services, Aircraft On Ground Service, and Others) and Regional Forecasts, 2020-2027” the market size stood at USD 20.21 billion in 2019. The rising improvements and advancements in the maintenance, repair, and overhaul (MRO) of the aviation industry will support the growth of the market.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
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The report Lists the Main Companies in the Market:
- ANA Line Maintenance Technics Co., Ltd. (Japan)
- Ameco (China)
- BCT Aviation Maintenance Ltd (The U.K.)
- Monarch Aircraft EngineeringLtd (Germany)
- STS Aviation Group, Inc. (The U.S.)
- United Airlines, Inc. (The U.S)
- Nayak Group (Germany)
- Delta TechOps (The U.S.)
- Hong Kong Aircraft Engineering Company Limited (China)
Integration of Big Data and IoT to Enhance Market Potential
The rising utilization of big data to store chunks of data and processing will have a tremendous impact on the growth of the market. The escalating demand of IoT for its predictive techniques and methods to reduce maintenance delays will enable speedy expansion of the market in the forthcoming years. The development of wearable technologies will boost the MRO services, which, in turn, will create opportunities for the market during the forecast period. The evolving industry regulations will create lucrative business opportunities for the market in the foreseeable future. The utilization of advanced technologies by the industry such as google glass or pebble watch for immediate responses and resolution of critical issues will subsequently foster the growth of the market during the forecast period.
Furthermore, the growing employment of artificial intelligence (AI) to reduce maintenance time and aircraft failures will uplift the aircraft line maintenance share during the forecast period. for instance, AI allows mechanics to perform tasks handsfree, which eases the operational burden. The use of Smart AI-based solutions in the aviation industry will contribute positively to the growth of the market. However, the coronavirus crisis will have an adverse outcome for the aviation industry during the forecast period.
Modernization of Contemporary Aircraft Systems to Foster Growth in Europe
North America is likely to hold the largest share in the global market owing to the increasing technological advancement in the aviation industry. The market in Europe is predicted to witness high growth during the forecast period owing to the upgradation of conventional aircraft systems. The growing investment in robust airports and services will influence healthy growth in Europe. The market in Asia Pacific is predicted to hold the lion’s share during the forecast period owing to the surge in aircraft deliveries. The booming aviation industry in India will have a positive impact on the market in the foreseeable future. The improvement in airport infrastructure and services will accelerate the aircraft line maintenance market growth in Asia Pacific. Nonetheless, the coronavirus crisis is likely to hamper the growth of the global market.
September 2019: FL Technics, a global provider of aircraft MRO services announced that it has stretched its EASA Part-145 approval to provide line maintenance services to Airbus A320neo family aircraft. The company also revealed that plans to offer services related to the A320neo family aircraft in the company’s line stations at Dubai, Vienna, Tbilisi, Riga and Kiev airports
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