Aircraft Refurbishing Market Expected to Reach $932.5 Million by 2031 | Allied Market Research

aircraft refurbishing market was valued at $456.70 million in 2021, and is estimated to reach $932.5 million by 2031,

OREGAON, PORTLAND, UNITED STATES , July 31, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Aircraft Refurbishing Market," The aircraft refurbishing market was valued at $456.70 million in 2021, and is estimated to reach $932.5 million by 2031, growing at a CAGR of 7.2% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 -https://www.alliedmarketresearch.com/request-sample/9465

In 2021, Asia-Pacific dominated the market in terms of revenue, followed by Europe, North America, and LAMEA. Initiatives taken by the governments toward the modernization of aviation sector and rise in air traffic in the region are expected to propel the growth of the aircraft refurbishing market during the forecast period.

There are prominent key factors that drive the growth of the aircraft refurbishing market Size such as rise in operations in the commercial aviation, and increase in demand from emerging regions. The market economy is also responsible for the growth of the market. Emerging countries in the region, such as India and China, are experiencing significant increases in civil aviation markets due to increased demand for air travel. Thus, the aerospace sector is witnessing prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the aircraft refurbishing industry.

The aircraft refurbishing market is segmented on the basis of refurbishing service, aircraft type, type, end use, and region. The refurbishing service segment is bifurcated into interior and exterior. By aircraft type, the market is classified into very light aircraft, wide body aircraft, narrow body aircraft, large body aircraft, and VIP aircraft. On the basis of type, it is divided into passenger to freighter, commercial aircraft cabin, and VIP cabin refurbishing. By end use, it is categorized into line government and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐏𝐔𝐑𝐂𝐇𝐀𝐒𝐄 𝐅𝐔𝐋𝐋 𝐑𝐄𝐏𝐎𝐑𝐓 𝐎𝐅 - https://www.alliedmarketresearch.com/aircraft-refurbishing-market/purchase-options

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐭𝐡𝐚𝐭 𝐨𝐩𝐞𝐫𝐚𝐭𝐞 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐚𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐫𝐞𝐟𝐮𝐫𝐛𝐢𝐬𝐡𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞

𝐀𝐮𝐭𝐨𝐭𝐫𝐚𝐝𝐞 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐏𝐯𝐭. 𝐋𝐭𝐝.,
𝐀𝐅𝐈 𝐊𝐋𝐌 𝐄&𝐌,
𝐃𝐢𝐞𝐡𝐥 𝐒𝐭𝐢𝐟𝐭𝐮𝐧𝐠 & 𝐂𝐨. 𝐊𝐆,
𝐃𝐮𝐧𝐜𝐚𝐧 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐜.,
𝐆𝐮𝐥𝐟𝐬𝐭𝐫𝐞𝐚𝐦 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐇𝐨𝐧𝐠 𝐊𝐨𝐧𝐠 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐋𝐢𝐦𝐢𝐭𝐞𝐝,
𝐉𝐚𝐦𝐜𝐨 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐈𝐧𝐜.,
𝐉𝐞𝐭 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐀𝐆,
𝐋𝐮𝐟𝐭𝐡𝐚𝐧𝐬𝐚 𝐓𝐞𝐜𝐡𝐧𝐢𝐤 𝐀𝐆,
𝐌𝐀𝐂 𝐀𝐞𝐫𝐨 𝐈𝐧𝐭𝐞𝐫𝐢𝐨𝐫𝐬,
𝐍𝐞𝐱𝐭𝐚𝐧𝐭 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞,
𝐑𝐚𝐲𝐭𝐡𝐞𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐑𝐨𝐬𝐞 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬, 𝐈𝐧𝐜.,
𝐒𝐚𝐛𝐫𝐞𝐥𝐢𝐧𝐞𝐫 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧,
𝐒𝐚𝐟𝐫𝐚𝐧 𝐒.𝐀.,
𝐒𝐈𝐀 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐲.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/9465

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
✅The COVID-19 impact on the Aircraft Refurbishing market is unpredictable, and is expected to remain in force for a few years.
✅The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of essential raw material items for most of 2020, and few months in 2021. This led to sudden decline in availability of important raw materials for aircraft components.
✅As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, aviation production and sales suffered severely, which, in turn, negatively impacted the market for Aircraft Refurbishing market in 2020.
✅Governments across the globe implemented strict lockdowns and made social distancing mandatory to prevent the spread of the COVID-19 virus. Consequently, several organizations began work from home programs as precautionary measure. This led to a sudden decline in global demand for traveling, which has affected the aviation industry.
✅However, global air travel continues to recover in 2022, as Omicron has less impact on countries other than Asia, and the war in Ukraine proves to have had little impact on world air traffic data. According to IATA reports, air traffic, measured in revenue passenger kilometers (RPK), an indicator of global passenger demand, increased 115.9% year-on-year in February 2022, but it was 54.5% of the pre-pandemic levels (February 2019 level). Moreover, International air travel recovery continues to gain momentum, driven by surge in vaccination rates and ease of travel restrictions in many regions. RPKs rose 256.8% YoY in February, but are only 40.4% of pre-pandemic February 2019.
✅The increase in air travel post pandemic creates immense opportunities for Aircraft Refurbishing companies in recent years. The momentum created by plans to reopen is expected to have a positive impact on the recovery of aircraft industry which creates growth opportunities for aircraft refurbishing market. Passenger transport is gradually recovering and is expected to reach pre-COVID levels by 2023. As air travel demand returns to pre-COVID levels, airlines are expanding their route networks and new airlines are introducing new domestic flights. Such plans are designed to accelerate market growth.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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