Aircraft Refurbishing Market Research Report Information By Aircraft Type (Wide-Body Aircraft And Narrow-Body Aircraft)), By Refurbishing Type (Complete Refurbishing, In-flight Entertainment & Connectivity System, Cockpit And Others), By Application (Passenger to Freighter, Commercial Cabin Refurbishing And VP Cabin Refurbishing) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030

Global Aircraft Refurbishing Market Overview

Aircraft Refurbishing Market Size was valued at USD 3.4 billion in 2022. The aircraft refurbishing market industry is projected to grow from USD 3.5 Billion in 2023 to USD 4.9 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.40% during the forecast period (2023 - 2030). A rise in commercial aviation operations, an increase in demand from rising nations, and upgrading of narrow-body aircraft is becoming more and more in demand are the key market drivers enhancing the market growth.Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Aircraft Refurbishing Market Trends

• Growing commercial aviation operations as a result of a significant increase in air travel activity fuel the market's growth.

Increasing commercial aviation operations because of a sharp rise in air travel activity are what are causing the market CAGR for aircraft refurbishing to grow. Accordingly, the market is being stimulated by the increasing demand for higher-quality airplane cabins caused by an increase in air passenger traffic. Also, the rising costs associated with maintaining aircraft have increased the necessity for outsourcing aviation-related maintenance and refurbishing services by aircraft manufacturing and operating companies, which is in turn driving market demand. Leading manufacturers' use of the new trend of 3D printing technology for the production of aircraft interiors is another factor driving the market. Due to their recurring maintenance needs, narrow body aircraft are becoming more and more popular for short- and medium-haul routes, offering lucrative growth prospects for the market. A significant increase in passenger to cargo aircraft conversions to extend the economic life of an airplane is also producing a good market outlook.

Furthermore, the introduction of innovative and constructive ways aimed at improving passenger safety and comfort is supporting market growth. In addition, increased investments by civil aviation corporations in brand-value growth of operational enterprises are boosting the industry.

However, the arrival of next-generation low maintenance aircraft is expected to be a major factor impeding Aircraft Refurbishing Market revenue growth during the forecast period. In today's highly competitive market, next-generation aircraft offer superior reliability, better fuel efficiency, and high-value returns with the introduction of new aircraft that use lightweight and low-maintenance materials. These new planes are being pre-built with all of the major features that airlines and operators want right now, which is expected to slow the growth of the aircraft refurbishing market. Advanced avionics, engines, and systems on next-generation aircraft make them more productive, objective capable, cost-effective, and comfortable for passengers. Several new aircraft models in most seat categories have recently entered commercial service or will do so in the coming years. Under ideal conditions, the fuel consumption per available seat-kilometer is typically 15% to 25% lower than that of the aircraft models they replace. Improvements in everyday operational conditions are typically a few percent lower.

Aircraft Refurbishing Market Segment Insights

Aircraft Refurbishing Aircraft Type Insights

The Aircraft Refurbishing Market segmentation, based on aircraft type includes wide-body aircraft and narrow-body aircraft). In 2021, the wide body aircraft market retained the greatest share, accounting for more than two-fifths of the worldwide aircraft refurbishment market. Furthermore, due to the increased use of wide-body aircraft for passenger transport, the category is expected to exhibit the highest CAGR of 7.8% throughout the projection period. The report examines the sectors of extremely light aircraft, narrow body aircraft, large body aircraft, and VIP aircraft.

Figure1 Aircraft Refurbishing Market, by aircraft type, 2022 & 2030(USD billion)Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Aircraft Refurbishing Type Insights

The Aircraft Refurbishing Market segmentation, based on refurbishing type, includes complete refurbishing, in-flight entertainment & connectivity system, cockpit and others. Interior refurbishing is predicted to dominate the refurbishing Type section of the global airplane refurbishing market in the next years because to the increasing preference for a virtually relaxing environment and more services for in-flight entertainment among passengers traveling by aircraft. In the second decade of this century, the demand for exterior refurbishing increased by 3.8% as a result of an increase in airline operators' preference for buying used aircraft and using them after restoration in undeveloped and emerging countries.

Aircraft Refurbishing Application Insights

The Aircraft Refurbishing Market data, based on application, includes passenger to freighter, commercial cabin refurbishing and VP cabin refurbishing. Due to an increase in the utilization of P2F conversions to extend the lifespan of passenger jets, the passenger to freighter segment dominated the market in terms of revenue in 2021, accounting for more than two-fifths of the worldwide aircraft refurbishing market. The VIP cabin refurbishing segment, on the other hand, is expected to exhibit the highest CAGR of 8.0% during the forecast period, owing to an increase in demand for aircraft refurbishment of the cabin, including luxurious bedrooms, bathrooms, private offices, lounge, and an increase in need for aircraft maintenance and repair.

Aircraft Refurbishing Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominated the global airplane refurbishing industry, with a significant market share valued in 2021. Several prominent participants in the airplane refurbishing sector have operations in nations such as the United States and Canada. Furthermore, the existence of major aircraft manufacturers such as Boeing and Bombardier Inc. drives the need for aircraft refurbishment in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2 AIRCRAFT REFURBISHING MARKET SHARE BY REGION 2022 (%)Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s aircraft refurbishing market accounts for the second-largest market share Due to the fact that this industry requires a skilled workforce and other personnel with expertise in the design and development of complex aerospace structures, and that Europe has the necessary expertise. Further, the German aircraft refurbishing market held the largest market share, and the UK aircraft refurbishing market was the fastest-growing market in the European region

The Asia-Pacific Aircraft Refurbishing Market is expected to grow at the fastest CAGR from 2023 to 2030. This is due to increase in the number of individuals preferring air travel, as well as an increase in the number of aircraft operating firms, has led in a 4.2% growth in demand for Aircraft Refurbishing by the Asia-Pacific civil aviation industry from 2021 to 2030. Moreover, China’s aircraft refurbishing market held the largest market share, and the Indian aircraft refurbishing market was the fastest-growing market in the Asia-Pacific region.

Aircraft Refurbishing Key Market Players & Competitive Insights

Leading market players are extensively spending in R&D to increase their product lines, which will help the airplane refurbishment market grow even more. Important market developments include new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other firms. To grow and thrive in a more competitive and growing market, the airplane refurbishing industry must provide cost-effective products.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global aircraft refurbishing industry to benefit clients and increase the market sector. In recent years, the aircraft refurbishing industry has offered some of the most significant advantages to medicine. Major players in the aircraft refurbishing market, including  Ascent Aviation Services (US), GKN (UK), Hong Kong Aircraft Engineering Company (China), JCB Aero (France), Lufthansa Technik (Germany), SIA Engineering Company (Singapore) and others, are focused on the adoption of various tactics such as product developments, mergers & acquisitions, geographical expansion, broadening the product range, and creating a strong distribution network to achieve a major market share in the industry.

AAR CORP. is a private aviation service company. The headquarters of AAR are located in Wood Dale, Illinois, a Chicago suburb near O'Hare International Airport. The company has 4,700 employees worldwide. AAR Corp. was created in 1951, I.A. Allen Industrial was incorporated in 1955, Allen Aircraft Radio was renamed in 1962, and AAR CORP. was founded in 1970. [4] Ira A. Eichner created the corporation. AAR also started its airplane maintenance business in Oklahoma City in 1969. AAR expanded to Europe in 1965 and built a Singapore office in 1982. In june 2021, AAR announced the signing of a long-term contract with Ameco, a global MRO expert in RB211 repair and disassembly. Ameco will supply RB211 repair/exchange and lease services within the terms of the agreement.

Gulfstream Aerospace Company is a wholly owned subsidiary of General Dynamics and an American aircraft manufacturer. Gulfstream is a company that designs, develops, manufactures, markets, and services business jets. Since 1958, Gulfstream has produced over 2,000 aircraft. The G280, G550, G500/G600, and G650/G650ER/G700/G800 are now available from Gulfstream. In October 2021, Gulfstream Aerospace Company announced the introduction of two all-new aircraft to enhance its high-tech aircraft family.

Key Companies in the aircraft refurbishing market include

• AAR (US)


• Air France Industries KLM E&M (France)


• Ascent Aviation Services (US)


• GKN (UK)


• Hong Kong Aircraft Engineering Company (China)


• Jamco America Inc (US)


• JCB Aero (France)


• Lufthansa Technik (Germany)


• SIA Engineering Company (Singapore)


• Singapore Technologies Engineering Ltd(Singapore)

Aircraft Refurbishing Industry Developments

For instance,In October 2021 Lufthansa Technik has confirmed the renewal of a significant base maintenance contract with EasyJet Switzerland SA, a Swiss low-cost airline, for over 140 aircraft. The contract was first signed in 2016.

For instance,In October 2021 Air France Industries, KLM E&M, and Triumph Group announced the formation of xCelle Americas, a joint venture. This joint venture will repair and maintain "new generation" nacelles on Airbus A320neo, Boeing 737MAX, Airbus A350, and Boeing 787 aircraft for South and North American operators.

For instance,In September 2021 Fokker Elmo SASMOS Interconnection Systems Limited (FE-SIL), a joint venture of GKN and SASMOS HET Technologies Limited, stated that it has received the contract to produce the electrical interconnection system for the Boeing-Saab T-7A trainer aircraft from Saab.

Aircraft Refurbishing Market Segmentation

Aircraft Refurbishing Aircraft Type Outlook

• Wide-Body Aircraft


• Narrow-Body Aircraft)

Aircraft Refurbishing Type Outlook

• Complete Refurbishing


• In-flight Entertainment & Connectivity System


• Cockpit


• Others

Aircraft Refurbishing Market Application Outlook

• Passenger to Freighter


• Commercial Cabin Refurbishing


• VP Cabin Refurbishing

Aircraft Refurbishing Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America