Aircraft Refurbishing Market Growth, Size, Share and Forecast

According to Stratistics MRC, the Global Aircraft Refurbishing market is accounted for $3.7 billion in 2015 and is expected to reach $5.8 billion by 2022 growing at a CAGR of 6.5% from 2015 to 2022. Increasing requirement for huge business, VIP aircraft and advancements in technologies are the key factors fueling the demand for aircraft refurbishing market growth. Increasing demand for revamp and maintenance will boost the growth of global aircraft refurbishing market. The factors such as growing freighter conversions, increasing redesign of greener aircrafts and new airplanes (A-380 and B-787) are some of the major drivers boosting the market growth. However, rising prices of raw materials and declining demand for older/refurbished parts or aircrafts are the major restraints for this market. Increasing demand of VIP refurbished jets will remain as a biggest opportunity for the aircraft refurbishing market over the forecast period.

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Narrow body aircraft segment has accounted for the largest market share of more than 45% owing to increasing passenger traffic, which has resulted in the extended seat capacity within an aircraft. North America dominated the global market and accounted for largest share of more than 40%. The following factors such as development of networks within Central America and Caribbean regions, growing incidence of passenger traffic and simultaneous growth in low cost carriers are the factors favoring the market growth in this region.

Some of the key players in this market include EADS Sogerma, Sell GmbH, Recaro Aircraft, Seating GmbH & Co. KG, FACC AG, Crane Aerospace & Electronics, Nordam Interiors & Structures Division, Rockwell Collins Inc., PPG Aerospace, Thales S.A., Zodiac Aerospace, Jamco America, Inc., Boeing Company – CDG, Diehl Aero Systems Holding GmbH, Satcom1, TIMCO Aviation Service Inc., STG...