The method of renovating the cabin interior, installing new facilities, and making required changes to an aircraft, to improve the comfort and provide a world-class experience to the passengers, is known as aircraft refurbishing. This does not only comprise interior modifications but also, exterior modifications, aerodynamic modifications, and other upgrades.
The factors driving the growth of the market are thee rising need to modify aircraft interiors and increasing demand for narrow body aircraft. However, a major challenge to this market growth is the high initial investment required for aircraft refurbishing.
The market in Europe is expected to witness the highest growth during the forecast period. This growth is attributed to the increasing demand for aircraft refurbishing in this region during the forecast period. Moreover, countries such as the U.K, Germany, and France are expected to contribute to the growth of the regional market.
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The key players in the aircraft refurbishing market are AAR (U.S.), Air France Industries KLM E&M (France), Ascent Aviation Services (U.S.), GKN (UK), Hong Kong Aircraft Engineering Company (China), Jamco America Inc. (U.S.), JCB Aero (France), Lufthansa Technik (Germany), SIA Engineering Company (Singapore), and Singapore Technologies Engineering Ltd. (Singapore).
Scope of the Report
This study provides an overview of the global aircraft refurbishing market, tracking three market segments across five regions. The report studies the key players, providing a five-year annual trend analysis that highlights market size, volume, and share in North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The study segments the global Aircraft Refurbishing market by aircraft type, refurbishing type, application, and region.