ID: MRFR/A&D/0911-HCR | 103 Pages | Published By Sejal Akre on March 2023
Aircraft Line Maintenance Market Size Valued at USD 19.20 Billion, market Grow at a CAGR Of 5% by 2020 -2030
Aircraft line maintenance market Size is Anticipeted at approximately $19.20 Billion & grow at 5% CAGR from 2020 to 2030.
Aircraft line maintenance is the procedure of repair, modification, or inspection of an aircraft. The base and line maintenance are the ways to help the inspection of the aircraft. The aircraft line maintenance also means the unscheduled and scheduled maintenance work for the aircraft to maintain the overall performance and quality of an aircraft. It includes many services such as rigging, component replacement, line station setup, defect rectification, and management that aims to resolve technical defects on time. All these activities are carried out when the aircraft is on the ground before the takeoff.
Many factors aid in the aircraft line maintenance market growth. Substantial growth in the defense and aviation Industries is one of the factors in the increasing demand of the market. Additionally, increasing air traffic boosts the need for a highly efficient flight safety mechanism and security checkups to ensure the passenger's safety. Also, continuous improvement in aviation and commercial aircraft is helping the growth.
Additionally, there are many integrations of Technological advancements in maintenance equipment such as machine learning, artificial intelligence, the internet of things, and data analytics are playing a major role in the growth factor. The IoT-enabled system gives accurate and faster identification of defects and timely repairs. Also, they take less time to solve the problems. Furthermore, the rapid urbanization and development activities in the aviation Industries are also expected to drive the aircraft line maintenance market forecast. The major key players are also making sure to boost the demand of the market.
Corona virus has affected most of the countries around the world. The spread of the virus first started in Wuhan City, and within weeks, it affected so many regions in the world. Due to this, the governments worldwide imposed a lockdown, and it affected many Industries in the world. Among them, the defense & aerospace industry was highly affected both from the supply and demand side. Due to lack of production, the supply was low, and due to this, demand declined too—the aircraft Industries facing a decline in the demand from the starting of the pandemic. The raw materials providers were not able to continue their business due to the covid-19 guidelines. All these factors had a negative impact on the market. The key players tried their best to keep the aircraft line maintenance market trends stable, and the market is expected to back to normal after the post-covid situation.
One of the major drivers in the market is the introduction of AI in aircraft maintenance. Due to this, aircraft failure has decreased. AI can detect the problem and predict the failures before any accidents. The Technological development in aircraft maintenance will drive the aircraft line maintenance market growth. Additionally, the number of people opting for air travel has increased significantly in the past few years. It is mainly due to the rise in the per capita income, rising demand for tourism & travel, and rise in economic activity and urbanization.
The global air passenger traffic is increasing, and with it, the investment in air travel is also increasing. It will propel the demand of the market in the coming years. According to the International Air Transport Association (IATA), China is all set to replace the United States as the largest passenger in traffic by the end of 2024. It will boost the aircraft line maintenance market revenue in the forecast period. The market is expanding rapidly, leading to the investment in aircraft maintenance repair.
With increasing air traffic across the globe, the aircraft line maintenance market demand continues to rise. The integration of advanced Technology and IoT minimizes the maintenance process. Utilizing such Technology in maintenance will bring opportunities for the market in the forecast period.
One of the major restraints in the market is the low availability of a skilled workforce in the aviation industry. The number of aircraft is rising, and new aircraft are expected to enter service by 2027. It will increase the work pressure of the machines. But the problem is there are not many skilled mechanics present to support the expanding fleet. The increase in the size of the aviation industry will outpace the technician supply, and the shortage of labor may hamper the growth of the aircraft line maintenance market.
Airlines have the passengers' data, but the increasing rate of cyber threats from criminals is a big challenge for the aircraft line maintenance market. The airlines must protect the privacy of the passengers from attacks. The key players are planning to overcome this challenge with the implementation of better security.
Cumulative growth analysis
The market has shown significant growth over the years, and it is expected to register a CAGR of 5% in the forecast period. With increasing population, air passengers, and rapid urbanization, the market is set to see huge growth in the coming years.
The aircraft line maintenance market is segmented based on type, application, and Technology.
Based on type, the market is divided into commercial aircraft and military aircraft. The commercial aircraft is further divided into narrow-body, wide-body, and very large, and regional aircraft. The commercial aircraft segment is expected to hold the highest aircraft line maintenance market share and dominate the market.
Based on application, the market is segmented into engine and APU services, component replacement and rigging Services, aircraft-on-ground services, and others.
By platform, the market is divided into traditional line maintenance and digital line maintenance. The traditional line maintenance was responsible for the highest aircraft line maintenance market share in 2019. Digital line maintenance is expected to be the fastest-growing segment in the forecast period due to technological advancements.
The major regions in the aircraft line maintenance market are Asia Pacific, Europe, North America, and the rest. According to the aircraft line maintenance market analysis, the Asia Pacific region is expected to be the fastest-growing region in the market owing to the aircraft production in This region. However, North America holds the highest market and dominates the market due to the presence of Major key players and economic development in this region. Europe is all set to play an important role in the market due to the increasing demand to upgrade the existing aircraft and replace the new aircraft systems. The development and research for line maintenance in Europe are also expected to boost the market in Europe.
The major key players in the platform the market are
These are some of the major key players in the market, but Delta TechOps contribute largely.
This aircraft line maintenance market contains all the information on the market analysis. Apart from highlighting the quantitative and qualitative analysis of the market, this report shows market dynamics such as drivers, restraints, challenges, and opportunities. Furthermore, this report gives market outlook on the covid-19 impact. This report also shows the market segments, competitive landscape, and recent developments.
The global aircraft line maintenance systems market is projected to register a moderate 5% in the forecast period.
A few eminent market players operating in the global aircraft line maintenances market are SIA Engineering Company (Singapore), Hong Kong Aircraft Engineering (Hong Kong), SR Technics (Switzerland), and others.
The increased technological development and investments is the market's primary growth inducer.
North America is expected to observe substantial demand over the review period.
The commercial aviation segment is expected to secure the highest CAGR.
The transit checks segment is slated to expand as the fastest-growing segment.