Aircraft line maintenance market is estimated to be valued at US$ 33.58 Billion in 2031; 5.8% CAGR Projected- Coherent Market Insights

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the aircraft line maintenance market.

Coherent Market Insights’ analyst projected the aircraft line maintenance market to be valued at US$ 33.58 Bn in 2031. It is expected to exhibit a CAGR of 5.8 % over the forecast period 2023 -2030.

Market Dynamics:

• Growing demand for new aircrafts and need for scheduled maintenance of existing aircraft fleet. As per regulation, aircraft require maintenance work after specified hours of usage to keep them in optimum operational condition.

• Rise in passenger traffic, airlines are expanding their fleet size through addition of new aircrafts which in turn boosts the demand for line maintenance activities.

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Market Trends:

• Digitalization of maintenance processes is a key trend gaining traction. Introduction of technologies like artificial intelligence, augmented reality and cloud computing help in forecasting maintenance needs. They provide digitizing maintenance records on clouds and providing step-by-step guidance to technicians during checks through AR. This improves efficiency and reduces downtime of aircraft.

• Advent of green aviation is another trend gaining traction. With growing environmental concerns, airlines and MRO companies are focusing on development of sustainable line maintenance practices.

Aircraft Line Maintenance Market Opportunities

• Engine maintenance segment is expected to hold the largest share during the forecast period. This is due to growing aircraft fleet size and increasing demand for air travel, the need for routine engine maintenenace. Engine maintenance includes regular inspection, repair and replacement of aircraft engines and engine components. It helps ensure optimal engine performance and prevent unexpected failures.

• Component service is anticipated to witness the fastest growth during the forecast period. This is due to due to the aging commercial aircraft fleet that requires frequent component servicing. Component service refers to the maintenance, repair and overhaul of various aircraft components excluding the engines.

Key Market Takeaways

• The global aircraft line maintenance market is anticipated to witness a CAGR of 5.8% during the forecast period 2023-2030. This is due to the increasing commercial aircraft fleet size and rising international air passenger traffic.

• On the basis of service type, engine maintenance segment is expected to hold a dominant position. This is due to the need for regular inspection and maintenance of aircraft engines.

• By aircraft type, the narrow body aircraft segment is projected to lead the market. This is due to high numbers of narrow body fleets used for short and medium haul flights.

• North America is expected to hold a dominant position over the forecast period. This is due to presence of major airline operators and MRO companies in the region.

Competitor Insights

Key players operating in the aircraft line maintenance market include

• Lufthansa Technik
• GENERAL ELECTRIC
• AFI KLM E&M
• ST Engineering
• Rolls-Royce plc.
• SR Technics
• SIA Engineering Company

Recent Developments: 

• In August 2022, Sky-Stream, was established at Antalya International Airport in Turkey. SkyUp Airlines, the facility’s owner, selected it as the only maintenance provider for the airline’s fleet.

• In April 2023, Azul Airlines, launched Azul TecOps, its latest corporate branch. This strategic strategy enables the company to develop its world-class operational and technical skills to service external client’s worldwide scale.

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defence, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.