Aircraft line maintenance includes routine checks, pre-flight inspections, replacement of certain components such as tyres, brakes, transient fault diagnostics and scheduled visual inspections of the aircraft between flights and overnight. Aircraft line maintenance has numerous advantages such as it enhances the operational efficiency and reliability of aircraft by enabling quick turnarounds and reducing time that aircraft spend on ground. Growing airline industry and increasing number of fleet size of airlines globally is propelling the need for efficient line maintenance services for aircrafts.
The global Aircraft Line Maintenance Market is estimated to be valued at US$ 498.34 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key players operating in the aircraft line maintenance market are Lufthansa Technik, GE Aviation, AFI KLM E&M, ST Aerospace, SIA Engineering Company, AAR, AMECO, British Airways Engineering, Delta TechOps, HAECO, Iberia Maintenance, Korean Air Aerospace Division, TAP Maintenance & Engineering, Turkish Technic, UNITED TECHNICS, SR Technics, JAL Engineering Co., Ameco Beijing, Aeroman, Air France Industries KLM Engineering & Maintenance. The major players are focusing on expanding their maintenance capabilities and capacities to capture more business opportunities generated by the growing aircraft fleets of airlines.
Market key trends:
The increasing number of fleet size of airlines is one of the major trend being witnessed in the global aircraft line maintenance market. According to Airbus Global Market Forecast, over 39,000 commercial aircraft will be delivered by 2038 to fulfill the demand from airlines globally. This increasing number of aircraft deliveries is necessitating the need for efficient line maintenance services to ensure smooth operations. Airline companies are ramping up their fleet size in order to meet the growing air passenger traffic. For instance, Indigo airlines in India recently became the largest airline globally in terms of fleet size by operating 259 aircrafts. Such growing fleet size of airlines worldwide will continue to drive the demand for aircraft line maintenance market during the forecast period.
SWOT Analysis
Strength:
– Growing demand for aircraft maintenance services to ensure safety and reliability of airline operations.
– Rising air passenger traffic driving the need for periodic maintenance of aging aircraft fleets.
Weakness:
– High capital requirements and investments needed to set up advanced maintenance facilities.
– Shortage of skilled workforce for aircraft maintenance.
Opportunity:
– Emerging markets in Asia Pacific expected to offer new growth opportunities for line maintenance services.
-Increasing orders for new aircraft providing opportunities for long term maintenance contracts.
Threats:
– Economic slowdowns negatively impacting the profitability of airlines and their maintenance budgets.
– Intense competition among existing line maintenance service providers.
Key Takeaways
The global aircraft line maintenance market is expected to witness high growth.
Regional analysis comprises that the Asia Pacific region is expected to be the fastest growing as well as dominating region in the global aircraft line maintenance market during the forecast period. The growth of the aviation industry in emerging economies like China and India is driving the demand for line maintenance services in the region.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
