Aircraft Heavy Maintenance Visits Market Worldwide Revenue Growth, A Detailed Analysis and Forecast by 2032
Market Overview:
The aircraft heavy maintenance visits market size is estimated to witness USD 56.83 Billion by 2032 and CAGR of more than 6% during the forecast period from 2023 to 2032.
On the basis of type, the aircraft HMV market has been segmented into airframe HMV, engine HMV, and component HMV. Airframe maintenance is carried out at a lower unit cost. Low-cost maintenance is possible because of the increased usage of lightweight fibre materials and hybrid alloys in the new-generation aircraft. This provides better fatigue and erosion resistance than the materials that were used in the conventional aircraft. As a result, there is a lesser failure rate and lower wear and tear, which minimizes the requirement for the airframe maintenance.
Concurrently, the turboprop engines are expected to drop in fleet size and market share. It is expected that, there will be a decrease in the number of turboprop-powered aircraft, during the forecast period. Therefore, the aircraft heavy maintenance visits market insight for turboprop-powered aircraft will witness a slower as compared to the other aircraft.
In the engine HMV segment, advancements in engine technologies have led to the development of more fuel-efficient engines, which can operate at greater temperatures and high stresses. Such engines require highly skilled maintenance service providers to carry out maintenance on the advanced and complex engines parts. The complexity of the maintenance increases the cost associated with it. Engine maintenance visits are performed on a scheduled basis, which includes repair, maintenance, inspection, and preventive maintenance to restore the performance of the engine. Engine maintenance is often divided into floor visit overhaul work and Life-Limited Parts (LLP) maintenance work. In these maintenance visits, the engine is detached from the aircraft for a period and after maintenance, the engine is assembled to the aircraft, which results in high maintenance costs. Due to these reasons, the engine HMV market segment will contribute the largest share and will have a moderate rate of growth, during the forecast period.
Market Segmentation:
This study provides an overview of the global aircraft heavy maintenance visits market size, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East and Africa, Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global aircraft heavy maintenance visits market size by its Type, Aircraft type, Platform, and Region.
By Type
Airframe HMV
· Fuselage
· Empennage
· Wing
· Others
Engine HMV
· Turbojet
· Turboprop
· Turbofan
· Auxiliary Power Unit
· Others
Other Component HMV
· Avionics
· Mechanical
· Others
By Platform
Commercial
Cargo
By Aircraft Type
Fixed Wing
· Wide-body aircraft
· Narrow-body aircraft
Narrow Body
By Regions
America
Europe
Asia Pacific
Middle East and Africa
Latin America
Key Players:
The aircraft heavy maintenance visits key market players are AAR (US), Air France KLM E&M (France), Airbus S.A.S (France), Barnes Aerospace (US), Delta TechOps (US), EGAT (Taiwan), Honeywell International (US), Lufthansa Technik AG (Germany), ST Aerospace (Singapore), SR Technics (Switzerland), and Turkish Technic, Inc. (Turkey).
Regional Analysis:
The North American region headed the aircraft heavy maintenance visits market industry, while the other regions had moderate shares, in 2017. Due to the increasing passenger demand in Asia Pacific, the aircraft traffic in the region is expected to grow exponentially, in the next few years. It is also expected that Asia will operate nearly 40% of the total global aircraft fleet by the end of the forecast period. As a result, it is expected that the Asia Pacific region would witness the fastest growth, during the forecast period.
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