Aircraft Refurbishing Market

Aircraft Refurbishing Market Size by Aircraft Type (Wide-Body Aircraft, Narrow-Body Aircraft), Refurbishing Type (Passenger-To-Freighter, Commercial Aircraft Cabin Refurbishing, VIP Cabin Refurbishing Fixed-wing Aircraft), Fitting Type, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12611
  • Published Date: Nov, 2021
  • Pages: 234
  • Category: Aerospace & Defence
  • Format: PDF
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Global aircraft refurbishing market is anticipated to reach USD 7.89 billion by 2030, at a CAGR of 7.49% from 2021 to 2030. The rising demand for the narrow body aircraft across the globe is one of the primary factors that are boosting the growth of the global aircraft refurbishing market.

Market Overview:

Aircraft refurbishing is the process that is required to ensure the safety and soundness of the aircraft. It includes the complete or partial makeover of an aircraft. The aircraft refurbishing includes modification, retrofit, inspection, overhaul, and defect rectification, among others. The process provides a new look to the aircraft. The refurbishing of the aircraft also means updating the systems and improving the connectivity of the aircraft. The rapidly growing air traffic across the globe is raising the need for more seating capacity. Therefore, the aircraft companies are increasingly focusing on aircraft refurbishing.

The aircraft refurbishing modifies, renovates, and repairs the interior and exterior of an aircraft such as an airplane, helicopter, etc. The main aim of aircraft refurbishing is to offer a fresh look to the aircraft. The benefits of aircraft refurbishing are enhancing the overall look, luxury, expansion in the seating capacity, and improvement in the current aircraft design and performance. The aircraft refurbishing also removes the external damage of the aircraft, external skin damage, bulkhead, and others. The refurbished aircraft offers the passengers a more luxurious experience, including a bedroom, dining room, and living space.

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Market Dynamics:

Drivers:

  • Growing demand for the up gradation of narrow body aircraft

The demand for the up-gradation of narrow-body aircraft has been rising across the globe for the past few years. The aircraft manufacturers are mainly investing in narrow body aircraft to increase the seating capacity of the narrow body aircraft. The increase in the seating capacity will eventually lead to rising passenger traffic. Furthermore, the rising need for narrow-body aircraft fuels the demand for aircraft refurbishing over the forecast period.

  • Increasing demand for large businesses and VIP aircraft

The rising trend of business travels worldwide is one of the primary factors that boost the demand for large businesses and VIP aircraft. According to Honeywell’s 30th annual Global Business Aviation Outlook forecast, about 7,400 new business jets deliveries worth USD 238 billion are expected from 2022 to 2031. Therefore, the rising demand for large businesses and VIP aircraft across the globe is propelling the growth of the aircraft refurbishing market.

Restraints:

  • High initial investment

The high initial investment required for the aircraft refurbishing is one of the key factors which is restraining the market’s growth over the forecast period. In addition to this, there is a continuous investment required to maintain the up-gradation of aircraft. The aircraft refurbishing requires comprehensive testing. The fundamental components must be tested to meet the safety and quality standard, requiring additional testing and certification costs. Thus, the high initial investment may hinder the growth of the market over the forecast period.

Opportunities:

  • Increasing modernization of aircraft

The growing demand for the advanced aircraft interior and gears such as in-flight entertainment, connectivity, and LED lights are fuelling the demand for the modernization of the aircraft. In addition to this, the increasing need for retrofitting the old sitting with comfortable cushioning further drives the market’s growth. Nowadays, aircraft passengers expect luxurious services such as bedrooms, dining room, etc., in the aircraft. Therefore, the demand for aircraft modernization has been increased in recent years, which is boosting the growth of aircraft refurbishing.

Challenges:

  • Stringent Government Regulations

Making any aircraft refurbishing requires adherence to specific guidelines, standards, and procedures. The regulation requires that an aircraft should be maintained in airworthy (safe) conditions after restructuring. The ultimate goal of these government regulations is safety. Therefore, stringent government regulations for the aircraft refurbishing present in the market may hinder the growth of the market over the forecast period.

Segmentation Analysis:

The global aircraft refurbishing market has been classified based on aircraft type, refurbishing type, fitting type, and regions.

  • The aircraft type segment is divided into wide-body aircraft and narrow-body aircraft. The narrow-body aircraft segment led the global aircraft refurbishing market and accounted for the largest market share of 65.25% in the year 2020. The rising need to expand the seating capacity of narrow-body aircraft to increase passenger traffic is boosting the growth of the narrow-body aircraft segment. 
  • The refurbishing type segment includes VIP cabin refurbishing fixed-wing aircraft, commercial aircraft cabin refurbishing, and passenger-to-freighter. The passenger-to-freighter segment is projected to grow at the highest CAGR of 8.5% over the forecast period. The increasing trend of conversion of the passenger aircraft to the freighter aircraft to make the effective use of fleet is driving the demand for aircraft furbishing for passenger-to-freighter. 
  • The fitting type segment is divided into retrofit, IFEC and lighting, and passenger seats. The retrofit segment is anticipated to grow at the highest CAGR of 9.07% over the forecast period. Increased demands for the retrofit of the aircraft in terms of modifying or substituting parts or equipment are propelling the market’s growth over the forecast period. 

Regional Segmentation Analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region dominated the global aircraft refurbishing market and held the market share of 41.56% in the year 2020.

  • Most aircraft refurbishing centers are present in the North America region, which boosts the market’s growth in the region. In addition to this, the high investment made by various governments such as the U.S. and Canada on the aircraft further boosts the aircraft refurbishing market growth in the North America region. 
  • The Asia Pacific region is estimated to grow at the highest CAGR of 9.4% over the forecast period. The development of the aviation sector in the countries such as India and China is pushing the growth of air refurbishing market in the region. 

North America Aircraft Refurbishing Market Share in 2020 - 41.56%

 

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Competitive Analysis:

The key players of the global aircraft refurbishing market are mainly focusing on the adoption of the primary strategies such asjoint venture, mergers & acquisitions, collaborations, geographical expansion, research and development activities, and partnerships to improve their market position in the global aircraft refurbishing industry.

October 2021, Air France Industries KLM E&M and Triumph Group announced that they formed the joint venture under the name xCelle Americas. This joint venture will perform the repair and maintenance services for “new gen” nacelles on Airbus A320neo, Boeing 737MAX, Airbus A350, and Boeing 787 aircraft for operators in South America and North America.

In June 2021, AAR announced that it has signed the long term contract with the Ameco, a world MRO expert in RB211 repair and disassembly. The agreement includes the Ameco will provide the RB211 repair/exchange and leasing services.

In October 2021, Gulfstream Aerospace Corporation announced the introduction of the two all new aircraft, to expand its high technology family of the aircraft.

List of Key Market Players:

  • Air France Industries KLM E&M
  • BE Aerospace
  • Sabreliner Corporation
  • TIMCO Aviation Services
  • SIA Engineering Company
  • Ascent Aviation Services
  • AAR
  • Zodiac Aerospace
  • Lufthansa Technik
  • Gulfstream Aerospace Corporation
  • GKN

Key Target Audience

  • Aviation Companies
  • Raw Material Suppliers
  • Aircraft Manufacturing companies
  • Potential Investors
  • Government and Aviation Regulatory Authorities
  • Technology Providers
  • Passenger Seat Manufacturers

Report Description:

  • Global Aircraft refurbishing Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global Aircraft refurbishing market is based on revenue (USD Million/Billion). The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global aircraft refurbishing market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of aircraft refurbishing and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global aircraft refurbishing market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global aircraft refurbishing market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global aircraft refurbishing market is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the aircraft refurbishing market was valued at USD 4.51 billion in 2020 and is anticipated to reach USD 7.89 billion by 2030.

Global aircraft refurbishing market is growing at a CAGR of 7.49% during the forecast period 2021-2030.

The global aircraft refurbishing market has been segmented based on aircraft type, refurbishing type, and fitting type, and regions. The narrow body aircraft segment led the aircraft refurbishing market.

The North America region emerged as the largest market for the aircraft refurbishing.

The rising demand for the narrow body aircraft refurbishing all over the world is one of the key contributing factor for the growth of market.

The high initial investment could hamper the growth of the market over the forecast period.

Technological advancement the aircraft refurbishing market are expected to offer the future growth opportunity in the market.

Key players are Air France Industries KLM E&M, BE Aerospace, Ascent Aviation Services, Sabreliner Corporation, TIMCO Aviation Services, SIA Engineering Company, AAR, Zodiac Aerospace, Lufthansa Technik, Gulfstream, and GKN among others.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Aircraft Type
          4.3.2. Market Attractiveness Analysis By Refurbishing Type
          4.3.3. Market Attractiveness Analysis By Fitting Type
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Growing need to modify aircraft interiors across the globe
          5.2.2. Increasing demand for narrow body aircraft
    5.3. Restrains
          5.3.1. High initial investment required
    5.4. Opportunities
          5.4.1. Increasing technological advancement in the Aircraft Refurbishing market
    5.5. Challenges
          5.5.1. Stringent government regulations present in the market

6. Global Aircraft Refurbishing Market Analysis and Forecast, By Aircraft Type
    6.1. Segment Overview
    6.2. Wide-Body Aircraft
    6.3. Narrow-Body Aircraft

7. Global Aircraft Refurbishing Market Analysis and Forecast, By Refurbishing Type
    7.1. Segment Overview
    7.2. Passenger-To-Freighter
    7.3. Commercial Aircraft Cabin Refurbishing
    7.4. VIP Cabin Refurbishing Fixed-wing Aircraft

8. Global Aircraft Refurbishing Market Analysis and Forecast, By Fitting Type
    8.1. Segment Overview
    8.2. Retrofit
    8.3. IFEC and Lighting
    8.4. Passenger Seats

9. Global Aircraft Refurbishing Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Aircraft Refurbishing Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Aircraft Refurbishing Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. BE Aerospace
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Zodiac Aerospace
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. TIMCO Aviation Services
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. SIA Engineering Company
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Lufthansa Technik
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Gulfstream
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Sabreliner Corporation
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. AAR
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Air France Industries KLM E&M
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Ascent Aviation Services
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. GKN
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
 

List of Table

1.Global Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

2.Global  Wide-Body Aircraft, Aircraft Refurbishing  Market, By Region, 2018–2030 (USD Billion)

3.Global Narrow-Body Aircraft, Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

4.Global Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

5.Global Passenger-To-Freighter Market, By Region, 2018–2030 (USD Billion)

6.Global Commercial Aircraft Cabin Refurbishing, Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

7.Global VIP Cabin Refurbishing Fixed-wing Aircraft, Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

8.Global Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

9.Global Retrofit Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

10.Global IFEC and Lighting Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

11.Global Passenger Seats Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

12.Global Aircraft Refurbishing Market, By Region, 2018–2030 (USD Billion)

13.North America Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

14.North America Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

15.North America Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

16.U.S. Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

17.U.S. Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

18.U.S. Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

19.Canada Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

20.Canada Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

21.Canada Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

22.Mexico Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

23.Mexico Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

24.Mexico Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

25.Europe Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

26.Europe Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

27.Europe Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

28.Germany Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

29.Germany Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

30.Germany Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

31.France Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

32.France Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

33.France Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

34.U.K. Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

35.U.K. Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

36.U.K. Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

37.Italy Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

38.Italy Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

39.Italy Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

40.Spain Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

41.Spain Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

42.Spain Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

43.Asia Pacific Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

44.Asia Pacific Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

45.Asia Pacific Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

46.Japan Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

47.Japan Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

48.Japan Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

49.China Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

50.China Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

51.China Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

52.India Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

53.India Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

54.India Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

55.South America Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

56.South America Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

57.South America Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

58.Brazil Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

59.Brazil Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

60.Brazil Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

61.Middle East and Africa Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

62.Middle East and Africa Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

63.Middle East and Africa Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

64.UAE Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

65.UAE Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

66.UAE Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

67.South Africa Aircraft Refurbishing Market, By Aircraft Type, 2018–2030 (USD Billion)

68.South Africa Aircraft Refurbishing Market, By Refurbishing Type, 2018–2030 (USD Billion)

69.South Africa Aircraft Refurbishing Market, By Fitting Type, 2018–2030 (USD Billion)

List of Figures 

1.Global Aircraft Refurbishing Market Segmentation

2.Aircraft Refurbishing Market: Research Methodology

3.Market Size Estimation Methodology: Bottom-Up Approach

4.Market Size Estimation Methodology: Top-Down Approach

5.Data Triangulation

6.Porter’s Five Forces Analysis

7.Value Chain Analysis

8.Global Aircraft Refurbishing Market Attractiveness Analysis By Aircraft Type

9.Global Aircraft Refurbishing Market Attractiveness Analysis By Refurbishing Type

10.Global Aircraft Refurbishing Market Attractiveness Analysis By Fitting Type

11.Global Aircraft Refurbishing Market Attractiveness Analysis By Region

12.Global Aircraft Refurbishing Market: Dynamics

13.Global Aircraft Refurbishing Market Share By Aircraft Type(2021 & 2030)

14.Global Aircraft Refurbishing Market Share By Refurbishing Type(2021 & 2030)

15.Global Aircraft Refurbishing Market Share By Fitting Type(2021 & 2030)

16.Global Aircraft Refurbishing Market Share by Regions (2021 & 2030)

17.Global Aircraft Refurbishing Market Share by Company (2021)

This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global Aircraft Refurbishing market on the basis of below mentioned segments:

Global Aircraft Refurbishing Market by Aircraft Type:

  • Wide-Body Aircraft
  • Narrow-Body Aircraft

Global Aircraft Refurbishing Market by Refurbishing Type:

  • Passenger to Freighter
  • Commercial Cabin Refurbishing
  • VIP Cabin Refurbishing

Global Aircraft Refurbishing Market by Fitting Type:

  • Retrofit
  • IFEC and Lighting
  • Passenger Seats

Global Aircraft Refurbishing Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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