Aircraft Maintenance Services Market Scope
The aircraft management service includes managing maintenance according to commercial standards and ensuring all logistics. These things are done for both safety and operational efficiency. In addition, aircraft maintenance services offer aircraft owners several advantages. It includes complete control of the aircraft, but also offers the ability to reach a wider range of customers. This increases the number of Business Jet Charter trips your managed aircraft can make in a day and reduces your fixed costs. Aircraft maintenance services take full responsibility for aircraft, including maintenance and planning charters. Aircraft Maintenance Services members also receive discounted prices on fuel, training, jet maintenance, and insurance packages. In addition, the services use international accounting standards (e.g. EASA STC) which help keep track of performance and finances. The automotive and transportation industries are among the industries hardest hit by the ongoing COVID-19 outbreak and are currently in unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. Industry concern has shifted from focusing on disrupting the supply chain from China to the general slump in demand for automotive products. Demand for commercial vehicles is expected to decrease with the discontinuation of all non-essential services. In addition, changes in consumer buying behavior due to the uncertainty surrounding the pandemic could have a serious impact on the growth of the industry in the near future. In the meantime, liquidity bottlenecks and the liquidity crisis have already affected the sales of the fleet operators, which is expected to increase further in the coming months.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 202 |
Unit | Value (USD Million) |
Key Companies Profiled | Lufthansa Technik (Germany), GE Aviation (United States), AFI KLM E&M (France), ST Engineering Aerospace (Singapore), MTU Friedrichshafen (Germany), AAR Corp (United States), SR Technics (Switzerland) and SIA Engineering (Singapore) |
CAGR | % |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that European Manufacturers will contribute to the maximum growth of Global Aircraft Maintenance Services market throughout the predicted period.
Lufthansa Technik (Germany), GE Aviation (United States), AFI KLM E&M (France), ST Engineering Aerospace (Singapore), MTU Friedrichshafen (Germany), AAR Corp (United States), SR Technics (Switzerland) and SIA Engineering (Singapore) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aircraft Maintenance Services market by Type , by Application (Air Transport and BGA) and Region with country level break-up.
On the basis of geography, the market of Aircraft Maintenance Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 202.
Market Leaders and their expansionary development strategies
On 3rd December 2020 - FL Technics Acquired Wright International (Leading Independent Line Maintenance Services Provider). The Deal Enables FL Technics with a Strong Presence in The Strategically Vital North American Market and Allows It to Serve Its Airline Clients in A Wider Network of Foreign Locations. and On 11th January 2021 - Elliott Aviation Completed its Acquisition of Atlanta-Based MRO, The Maintenance Group. The Maintenance Group Addition Expands Elliott Aviation's Portfolio of Qualifications Including Gulfstream G550/G450/G-V/G-IV/G-III/G-280/G-200/G-150/G-100, Falcon 2000/50/50EX, Among Others.
On 14th May 2021 - Liebherr-Aerospace Launched Its New Service Platform. The New Platform Covers Different Areas, Such As "Repair Order Status" And "Technical Request," As Well As an Expanded Choice of Training Services for Airlines and Mros, As Well As A New Set of Specialised Digital Solutions.
Influencing Trend:
Maintenance and Crucial Repairs of Cargo Planes Due To an Increase in Flying Frequency, The Rise in International Trade and Demand for New Aircraft and Rising Airline Operators Are Upgrading Their Plane Models to Enable Cost-Saving That Results In Fuel Efficiency
Market Growth Drivers:
The Stringent Regulations Laid Down By Airworthiness Authorities, A Rise in Aircraft Modernization, Environmental Concerns, and Norms and Regulations, The Rise of Refurbished and Used Parts in the Engine and Non-Engine Maintenance and The Introduction of a New-Generation Fleet in the Aviation Sector Requires a High Degree of Expertise and Knowledge
Challenges:
Lack of Common Data Standards
Restraints:
Issues Associated With the Compliance of Various Aviation Regulations and The Lack of Availability of Skilled Workforce
Opportunities:
The Increase in Spending By Airline Companies on Aircraft Maintenance and Spare Parts, The Rise in Advanced Technologies for Maintenance Activities and OEMs and The Growing Presence of OEMs in the Maintenance Industry Providing Engine Maintenance Services
Key Target Audience
Providers of Aircraft Maintenance Services, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others