The global aircraftline maintenance market size is expected to reach USD 23.67 billion by2027, exhibiting a CAGR of 5.06% during the forecast period. The growingconcerns regarding public safety and management will spur opportunities for themarket during the forecast period, states Fortune Business Insights in areport, titled “Aircraft Line Maintenance Market Size, Share & COVID-19Impact Analysis, By Type (Transit Checks, and Routine Checks), By Aircraft Type(Commercial, Military), By Platform (Traditional Line Maintenance, Digital LineMaintenance), By Service (Engine and APU Service, Component Replacement andRigging Services, Aircraft On Ground Service, and Others) and RegionalForecasts, 2020-2027” the market size stood at USD 20.21 billion in 2019. Therising improvements and advancements in the maintenance, repair, and overhaul(MRO) of the aviation industry will support the growth of the market.
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Market Driver:
Integration of BigData and IoT to Enhance Market Potential
The rising utilization of big data to store chunks of dataand processing will have a tremendous impact on the growth of the market. Theescalating demand of IoT for its predictive techniques and methods to reducemaintenance delays will enable speedy expansion of the market in theforthcoming years. The development ofwearable technologies will boost the MRO services, which, in turn, will createopportunities for the market during the forecast period. The evolving industry regulations will createlucrative business opportunities for the market in the foreseeable future. The utilization of advanced technologies bythe industry such as google glass or pebble watch for immediate responses andresolution of critical issues will subsequently foster the growth of the marketduring the forecast period.
Furthermore, the growing employment of artificialintelligence (AI) to reduce maintenance time and aircraft failures will upliftthe aircraft line maintenance share during the forecast period. for instance,AI allows mechanics to perform tasks handsfree, which eases the operationalburden. The use of Smart AI-basedsolutions in the aviation industry will contribute positively to the growth ofthe market. However, the coronavirus crisis will have an adverse outcome forthe aviation industry during the forecast period.
Regional Analysis:
Modernization ofContemporary Aircraft Systems to Foster Growth in Europe
North America is likely to hold the largest share in theglobal market owing to the increasing technological advancement in the aviationindustry. The market in Europe is predicted to witness high growth during theforecast period owing to the upgradation of conventional aircraft systems. Thegrowing investment in robust airports and services will influence healthygrowth in Europe. The market in Asia Pacific is predicted to hold the lion’sshare during the forecast period owing to the surge in aircraft deliveries. Thebooming aviation industry in India will have a positive impact on the market inthe foreseeable future. The improvement in airport infrastructure and serviceswill accelerate the aircraft line maintenance market growth in Asia Pacific.Nonetheless, the coronavirus crisis is likely to hamper the growth of theglobal market.
Key Development:
September 2019: FL Technics, a global provider of aircraftMRO services announced that it has stretched its EASA Part-145 approval toprovide line maintenance services to Airbus A320neo family aircraft. Thecompany also revealed that plans to offer services related to the A320neofamily aircraft in the company’s line stations at Dubai, Vienna, Tbilisi, Rigaand Kiev airports
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https://www.fortunebusinessinsights.com/aircraft-line-maintenance-market-102864
