The global aircraft hangar market is set to gain momentum from the surging need to protect aircraft from windstorm, rain, and hailstorm. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Aircraft Hangar Market Size, Share & Industry Analysis, By Type (Portable Installation Hangar, Fixed Installation Hangar), By Application (Personal Aircraft, Commercial Aircraft, Military Aircraft Others) and Regional Forecast 2022-2029.” The report further mentions that aircraft hangars vary from one another according to the size and type of the aircraft, such as business jets, military carrier, helicopter, wide-body aircraft, and narrow-body aircraft.
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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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A list of all the prominent aircraft hangar providers operating in the global market:
- Allied Steel Buildings Inc. (The U.S.)
- Rubb Buildings Ltd. (The U.K.)
- JOHN REID & SONS (STRUCSTEEL) Ltd. (The U.K.)
- Diuk ARCHES Ltd. (Israel)
- Fulfab Inc. (The U.K.)
- Alaska Structures (The U.S.)
- AECOM (The U.S.)
- ClearSpan Fabric Structures Inc. (The U.S.)
- BUILDAIR (Spain)
- PFEIFER Holding GmbH & Co. KG (Germany)
- The Korte Co. (The U.S.)
Drivers & Restraints-
Rising Modernization of Airports to Accelerate Growth
The increasing number of commercial aircraft orders in developed regions is set to propel the aircraft hangar market growth in the forthcoming years. Besides, the rising development and modernization of airports in emerging economies would also aid growth. However, stringent aircraft hangar design standards may hinder growth. But, the high demand for relocatable and energy-efficient fabric aircraft hangars would boost growth.
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Surging Demand for Commercial Airplanes to Favor Growth in Asia Pacific
Geographically, North America generated the largest aircraft hangar market share in 2019. This growth is attributable to the rising investments in airport modernization programs, presence of several renowned companies, and increasing number of airports in the region.
Asia Pacific, on the other hand, is anticipated to grow rapidly backed by the increasing number of new airport construction projects and surging traffic of air passengers in the region. At the same time, the rising demand for commercial airplanes in the region would boost growth. In Europe, the presence of a large number of aircraft hangar providers, such as Fulfab Inc. and Rubb Buildings Ltd. would augment growth.
Key Players Focus on Partnerships and Acquisitions to Gain a Competitive Edge
The global market for aircraft hangars is fragmented with the presence of numerous companies. Most of them are trying to gain a competitive edge by participating in acquisition and partnership strategies. Below are the two latest industry developments:
- May 2020:Rubb Buildings Ltd., headquartered in the U.K., signed a new contract with the Welsh government to develop and design an Aircraft MRO hangar.
- June 2019: BUILDAIR finished constructing the world’s largest aircraft inflatable hangar with a capacity to hold the Boeing 777-200ER aircraft. It was designed by Saudia Aerospace Engineering Industries.
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