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Market Growth – at a CAGR of 5.6%, Market Trends – Brand endorsement is driving demand for aircraft refurbishing
VANCOUVER, BC, CANADA, July 11, 2022 /EINPresswire.com/ -- The global aircraft refurbishing market size reached USD 4.55 Billion in 2020 and is expected to register a revenue CAGR of 5.6%, during the forecast period, according to latest analysis by Emergen Research. Steady increase in demand for attractive interior designs along with development of in-flight entertainment systems is a key factor driving market revenue growth. Rising competition among domestic and international airline carriers and need to comply with various standards, drive brand value, and offer more enhanced flight experience are some key factors resulting in refurbishing of aircraft and installation or more attractive interior design. Increasing focus on more advanced and efficient and enhanced travelling experience has been resulting in opening up of new and more lucrative revenue opportunities for players in the aircraft refurbishing industry. Interiors, including cabins and cockpits, are restructured and redesigned during refurbishment, and these processes provide additional benefits, including reduced operational costs and improved end-user travel experience.
Emergen Research has published a new market research report titled Global Aircraft Refurbishing Market Forecast to 2028 comprising statistical data represented in tables, pie charts, graphs, and figures to aid in easy understanding of the market. The research report provides a comprehensive assessment of the market and provides a futuristic perspective about the market trends, growth factors, facts, and industry validated market data. It provides an in-depth assessment of market size, market share, revenue growth, along with a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors. Rising investments and technological advancements are expected to significantly drive the growth of the market throughout the forecast period.
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Some Key Highlights from the Report Wide-body aircraft segment revenue is expected to expand at a significantly rapid CAGR during the forecast period as many airlines have reduced extra passenger space to maximize their overall revenue and profit margins over the years.
VIP cabin segment is expected to register a significantly robust revenue growth rate over the forecast period. The refurbishment of VIP aircraft is on the rise as premium customers seek more luxurious travel experiences. Cabins are increasingly being used as a crucial area and part of the aircraft, and besides innovative interiors and offerings, branding and ultra-high tech lighting and other aspects are taking place through refurbishing.
North America is expected to account for a larger revenue share than other regional markets over the forecast period due to government initiatives and investments that support growth of the aerospace industry in countries in the region.
In September 2021, SR Technics Switzerland AG signed a chemical consignment agreement by its affiliate in Malta. The acceptance made between SR Technics Malta, a narrowbody aviation maintenance hub that offers premium MRO solutions, and Aerospheres UK Ltd., which deals in the real-time distribution of avionics chemical compounds for commercial airlines and MRO operational processes.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. It also offers key insights into financial standing, market reach, global position, gross profit margins, and investment and funding initiatives.
Major Players/Manufacturers profiled in the report are:
Hong Kong Aircraft Engineering Company Limited, Singapore Technologies Engineering Aerospace, Lufthansa Technik AG, AAR Corporation, Rolls Royce Holdings PLC, SIA Engineering Company Limited, Delta TechOps, SR Technics Switzerland AG, Turkish Technic, and MRO Holdings, Inc.
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Emergen Research has segmented the global aircraft refurbishing on the basis of aircraft type, refurbishing type, applications, fitting type, and region:
Aircraft Type Outlook (Revenue, USD Billion; 2018–2028) Narrow Body Aircraft
Refurbishing Type Outlook (Revenue, USD Billion; 2018–2028) Interior Refurbishing
Applications Outlook (Revenue, USD Billion; 2018–2028) Passenger To Freighter
Fitting Type Outlook (Revenue, USD Billion; 2018–2028) Passenger Seat
The report sheds light on the region expected to dominate the Aircraft Refurbishing market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Aircraft Refurbishing market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Aircraft Refurbishing market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Aircraft Refurbishing market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Aircraft Refurbishing Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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Thank you for reading our report. The report can be customized according to the requirements of the clients. Please get in touch with and our team will ensure the customization is as per your needs.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee Emergen Research +91 90210 91709 sales@emergenresearch.com Visit us on social media: Facebook Twitter LinkedIn
Aircraft Refurbishing Market Size Worth USD 6.91 Billion in 2028
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