Pune, India -- (SBWIRE) -- 04/25/2018 -- Market Highlights:
The global aircraft line maintenance market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of aircraft line maintenance will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2023).
The aircraft line maintenance market is completely dependent on the aircraft fleet management. Thus, the increasing or decreasing demand of the aircraft fleet directly has an impact on the market. Moreover, the increase in the sales of aircraft has mainly been because of competitive and diverse options available for finance. Another factor responsible for the increase in aircraft fleet management is increased focus of OEM on aircraft line maintenance and rapid aircraft fleet expansion. This is the primary factor that drives the growth of the aircraft line maintenance market and has gained prevalence in the recent times, with usage of best in class technologies in aircraft. Thus, the growth of the aircraft line maintenance market is expected to go hand in hand with the growth of aircraft industry.
The expansion of the commercial and military aircraft fleets, which has resulted in the development of a set of aircraft line maintenance market. The increase focus of OEMs on aircraft line maintenance will lead to an increase in use of commercial aircraft, due to which there will be growth in aircraft line maintenance market. The expansion of the existing commercial and military aircraft fleets along with the launch of new airlines, would result in increased aircraft line maintenance the forthcoming years. Hence, it is expected that the rapid fleet expansion would eventually drive the aircraft line maintenance market. Moreover, it is expected that the retirement of maintenance-intensive aircraft and the introduction of new generation aircraft, will lower the man-hours per maintenance visit.
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Industry/ Innovation/ Related News:
February, 2018 - SIA Engineering Company Limited ('SIAEC') and GE Aviation ('GE') announced that it signed a joint venture agreement to form an engine overhaul joint venture based in Singapore.
December, 2017 – Monarch aircraft engineering limited (MAEL), signed a new base maintenance agreement with La Compagnie.
December, 2015 – Delta TechOps signed a long-term maintenance contract with Virgin Australia to perform maintenance, repair and overhaul services for Virgin Australia's fleet of CFM56-7B engines.
September, 2014 – British Airways line maintenance had won the contract to provide technical handling for Qatar Airways' 787 flights in Edinburgh.
Aircraft Line Maintenance Market – Segmentation
The Global Aircraft line maintenance Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Aircraft Type : Comprises Wide body aircraft, Narrow body aircraft and Regional jet
Segmentation by Platform: Comprises Commercial Aviation, Military Aviation and Business Aviation
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Aircraft Line Maintenance Market: Regional Analysis
European market is dominating the market of aircraft line maintenance market due to growth in commercial and military aircrafts. The market in the developing countries is largely driven by growing demand for maintenance services, which helps in growth of aircraft line maintenance market.
Asia Pacific is referred to as the second-largest aircraft line maintenances market due to factors such as maximum air traffic and better demand for maintenance services have fuelled the demand for aircraft line maintenance market.
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