Aircraft Refurbishing Market

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.

The Global Aircraft Refurbishing Market Industry is poised for substantial growth, with projections indicating a market size of 3.7 USD Billion in 2024 and an anticipated increase to 6.37 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 5.07% from 2025 to 2035. Such figures underscore the increasing reliance on refurbishing as a strategic option for airlines looking to optimize their fleets. The market's expansion is likely fueled by a combination of factors, including rising passenger demand, technological advancements, and a growing emphasis on sustainability in aviation.

Sustainability initiatives play a pivotal role in shaping the Global Aircraft Refurbishing Market Industry. As environmental concerns intensify, airlines are compelled to adopt greener practices. Refurbishing existing aircraft is often more sustainable than manufacturing new ones, as it reduces waste and conserves resources. The industry is witnessing a shift towards eco-friendly materials and technologies in refurbishing processes. This shift aligns with global efforts to reduce carbon footprints, making refurbishing an attractive option for airlines aiming to meet regulatory requirements and consumer expectations. Consequently, the market is likely to see increased investments in sustainable refurbishing practices.

Technological advancements significantly influence the Global Aircraft Refurbishing Market Industry. Innovations in materials, design, and manufacturing processes enhance the efficiency and effectiveness of refurbishing efforts. For instance, the integration of advanced composite materials can reduce weight and improve fuel efficiency. Additionally, digital technologies facilitate better project management and quality control during refurbishing projects. As these technologies continue to evolve, they are expected to drive the market forward. By 2035, the market is anticipated to grow to 6.37 USD Billion, highlighting the importance of technology in meeting the demands of modern aviation.

The growing market for pre-owned aircraft significantly impacts the Global Aircraft Refurbishing Market Industry. As airlines and operators seek cost-effective solutions, the demand for refurbished pre-owned aircraft is on the rise. Refurbishing allows these aircraft to meet modern standards and appeal to a broader customer base. This trend is particularly evident in regions where new aircraft purchases are financially prohibitive. The market is projected to experience a compound annual growth rate of 5.07% from 2025 to 2035, indicating a robust future for refurbishing services as operators increasingly turn to pre-owned aircraft to expand their fleets.

The Global Aircraft Refurbishing Market Industry experiences a notable surge in demand for aircraft upgrades, driven by airlines seeking to enhance passenger experience and operational efficiency. As airlines aim to remain competitive, refurbishing older aircraft becomes a viable solution. In 2024, the market is projected to reach 3.7 USD Billion, reflecting a growing trend towards modernization. Airlines are increasingly investing in cabin reconfigurations, advanced in-flight entertainment systems, and improved seating arrangements. This trend not only boosts customer satisfaction but also extends the lifespan of aircraft, making refurbishing a strategic choice for many operators.

Regulatory compliance and safety standards are critical drivers in the Global Aircraft Refurbishing Market Industry. Airlines must adhere to stringent regulations set by aviation authorities, which often necessitate refurbishing to maintain safety and operational standards. This compliance not only ensures passenger safety but also enhances the overall reliability of the fleet. As regulations evolve, airlines are increasingly investing in refurbishing older aircraft to meet these requirements. The market's growth is further supported by the need for continuous upgrades to safety features, which is likely to sustain demand for refurbishing services in the coming years.

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, Market Research Future 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.

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.