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(Transportation-News.com, October 04, 2016 ) The abandoned or used aircrafts are dangerous when it comes to passenger or pilot’s safety. Thus aircraft refurbishment is a key process involving the repair, cleaning, maintenance and renovation of the aircraft to bring it back to airworthy condition. Aircraft refurbishment is done at refurbishment yards or hangers. It includes weight balance, power plant operation, structural strength performance or other qualities affecting the airworthiness of the aircraft. The aircraft refurbishment includes various types of repairs namely aircraft structural repairs, system repairs, component repairs, engine repairs, avionics repairs and interior & exteriors refurbishments. Exterior refurbishment includes the repair and maintenance of exterior body, glasses etc. Interior refurbishment includes repair and refurbishment of windows, seats, tapestry, flooring and carpet, upholstery, cabinetry, air and sound proofing, color schemes etc. Aircraft structural refurbishment includes the overall repair and refurbishment of the structure of the aircraft from the exterior portion like the windows, body and fans. Aircraft system refurbishment includes the repair and maintenance of the computerized system and electronic circuitry of the aircraft. Component refurbishment states the repair of the components of the aircraft like electronic fittings, automated equipment and interior components while aircraft engine refurbishment includes the repair and maintenance of the aircraft engine and its parts to make it airworthy.
Global Aircraft Refurbishing Market: Segmentation
The global aircraft refurbishing market is segmented on the basis of applications, types, fittings and geography. On the basis of applications, the global aircraft refurbishing market is segmented in to wide body aircraft, very large aircraft, narrow body aircraft, commercial aviation aircrafts windows and windshields and VIP aircrafts. On account of types, the global aircraft refurbishing market can be segmented into passenger—to—freighter(P-2-F). VIP cabin refurbishing and commercial cabin refurbishing(C-C-R). On the basis of fittings, the global aircraft refurbishing market is segmented into retrofit, IFEC System and passenger seats. On the basis of geography, the global aircraft refurbishing market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan(APEJ) and Middle East and Africa.
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Global Aircraft Refurbishing Market: Drivers
The increasing demand for repair and maintenance is driven by the size and age of aircraft fleets as well as the air transportation activities. Another factor driving the global aircraft refurbishing market is freighter conversions since trade among nations is becoming popular. Another key factor fuelling the growth of the global aircraft refurbishing market is increasing demands for private jets and VIP aircrafts among businessmen and celebrities. Moreover, to maintain the fuel efficiency and greener effect in the aircrafts, the short haul refurbishments in increasing demands thus demand for fuel efficiency is driving the overall growth of the global aircraft refurbishing market.
Global Aircraft Refurbishing Market: Restraints
One of the key challenges in the global aircraft refurbishing market is the increasing prices of raw materials. This increasing prices of raw materials are leading the aircraft refurbishing manufacturers to pass on the increased prices of refurbishing products. Other restraint in the global aircraft refurbishing market is the decreasing demand for older/refurbished parts or aircrafts since customers are more inclined towards safety and towards newer products rather than the refurbished ones.
Global Aircraft Refurbishing Market: Opportunities and Trends
Increasing luxury among VIPs and businessmen is resulting in increased demands of VIP refurbished jets. Another trend in global aircraft refurbishing market is the customization of cabins in private jets since the luxurious customization is costly and potentially lucrative for the aircraft refurbishing product manufacturers. Continuously increasing demands for air travel among passengers to achieve time effective travel is posing as vibrant opportunities for the global aircraft refurbishing market. Moreover, emerging regions like Latin America, Asia Pacific and Middle East and Africa are posing good opportunities for the global aircraft refurbishing market to grow.
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Global Aircraft Refurbishing Market: Key Players
The major players in the global aircraft refurbishing market are B/E aerospace, Zodiac Aerospace, United Technology Corporation (UTC), Thales S.A., Honeywell International, PPG Aerospace, Panasonic Avionics Corporation, Rockwell Collins Inc., STG Aerospace Ltd., Nordam Interiors & Structures Division, TIMCO Aviation Service Inc., Crane Aerospace & Electronics., Satcom1, FACC AG, Diehl Aero Systems Holding GmbH., Recaro Aircraft Seating GmbH & Co. KG, Boeing Company – CDG, Sell GmbH, Jamco America, Inc., EADS Sogerma and others.
Future Market Insights
Abhishek Budholiya
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abhishek.b@futuremarketinsights.com
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