Demand for retrofit fitting is estimated to increase at 5.7% CAGR, while that for VIP cabin refurbishing is slated at 6.7%.

ROCKVILLE, MARYLAND, UNITED STATES, January 20, 2022 /EINPresswire.com/ -- Newly-released aircraft refurbishing market analysis reveals global demand will register year-on-year (YoY) growth of close to 6% throughout the forecast period of 2021 to 2031. Demand for retrofit fitting is estimated to increase at 5.7% CAGR, while that for VIP cabin refurbishing is slated at 6.7%.

In this study, Fact.MR offers insights about key factors surging demand for aircraft refurbishing. The report tracks global sales in 20+ high-growth markets, where North America leads the way by far, followed by Europe and South Asia & Pacific. The report also analyses the impact COVID-19 has had on the aviation industry in general, and the aircraft refurbishing market in particular.

The latest industry analysis and survey on Aircraft Refurbishing provides sales outlook in 20+ countries, across key categories. Insights and outlook on Aircraft Refurbishing market drivers, trends, and influencing factors are also included in the study.

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Market Segments Covered in Aircraft Refurbishing Industry Analysis

By Fitting Type
Retrofit Aircraft Refurbishing
IFEC & Lighting Aircraft Refurbishing
Passenger Seat Aircraft Refurbishing

By Aircraft Type
Large Body Aircraft Refurbishing
Wide Body Aircraft Refurbishing
Narrow Body Aircraft Refurbishing

By Refurbishing Type      
VIP Cabin Refurbishing
Commercial Cabin Refurbishing

Key Takeaways from Market Study

Rising demand for luxury and safety during air travel is accelerating demand for aircraft refurbishing.

Increase in aircraft interior refurbishing for first class cabins is a crucial factor accelerating market growth.

Increase in air passenger traffic from emerging regions such as Asia Pacific and the Middle East is making airlines opt for aircraft refurbishing services.

Major providers of aircraft refurbishing are investing in new technologies for unique modified designs of interiors that give an aesthetic look to interior cabins as well as increase passenger comfort during air travel.

Retrofit constitutes the highest market share, and is set to expand at a CAGR of 5.7% through 2031.

Narrow body aircraft hold a prominent market share, and the segment is slated to expand at a CAGR of 5.7% over the decade.

The aircraft refurbishing market witnessed a plunge in 2020 due to the COVID-19 pandemic, with a recorded growth of -9.7%.

The refurbishing market in France is projected to expand at a CAGR of around 4.9%, while that in the U.S. at close to 5.5%, through 2031.

The market in ASEAN and China is set to surge at CAGRs of around 7.5% and 7.1%, respectively, over the next ten years.

The latest market research report analyzes Aircraft Refurbishing Market demand by Different segments. Providing business leaders with insights On Aircraft Refurbishing And how they can increase their market share.

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This report gives you access to decisive data such as:

Demand of Aircraft Refurbishing Market & Growth drivers
Factors limiting Aircraft Refurbishing market growth
Current key trends of Aircraft Refurbishing Market
Market Size of Aircraft Refurbishing and Aircraft Refurbishing Sales projections for the coming years

The report also offers key trends of Aircraft Refurbishing market and an in-depth analysis of how the projected growth factors will shape the Aircraft Refurbishing market dynamics in the coming years of the forecast period.

Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Aircraft Refurbishing Market that are developing the current market scenario and which will be lucrative for the future demand of Aircraft Refurbishing Market.

Crucial insights in Aircraft Refurbishing market research report:

Underlying macro- and microeconomic factors impacting the Sales of Aircraft Refurbishing market.
Basic overview of the Aircraft Refurbishing, including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Aircraft Refurbishing across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.

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What Makes Demand for Narrow Body Aircraft Refurbishing High?

Narrow body aircraft is a type of airplane that has a single aisle of seats with two to six seats per row. Many models of Boeing and Airbus have narrow body airplanes.

Narrow body aircraft are generally used for short- and medium-haul routes. These airplanes are generally used for domestic flights and need periodic refurbishing, which is contributing to rise in demand for narrow body aircraft refurbishing.

Owing to mounting demand for narrow body aircraft, their refurbishing is expected to garner an absolute $ opportunity of nearly US$ 1.8 Bn and projected to grow 1.7X by 2031.

What is Accelerating sales of VIP Refurbishing?

VIP aircraft refurbishment for private jet interiors and customization has been increasing since the past few years due to high demand for luxury and comfort while travelling. The interiors of VIP cabins are refurbished with modern technologies such as in-flight entertainment systems, LED lightings for greater level of style, and sophistication of aircraft interiors, along with latest styles of cabin headliners and window panels of unique designs.

VIP cabin refurbishing accounted more than 16% of all refurbishing type sales in 2021, and is estimated to rise at a CAGR of 6.7% over the decade

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What are the Latest Trends of Aircraft Interior Refurbishment Impacting Sales in the Market?

In a time of rapid technological advancements, manufacturers and suppliers have adopted advanced technology to increase the business for aircraft refurbishing, which is increasing the fuel efficiency of commercial aircrafts. Increasing trend of using 3D printing for aircraft interiors is adopting by many leading manufacturers for making aircraft interiors.

Aircraft manufacturer Boeing has teamed up with Oak Ridge National Lab to 3D print aircraft interior parts that will not only increase aircraft efficiency but also reduce manufacturing waste.

Growth in passenger to freighter aircraft conversions is one of the major trends being observed, thereby driving demand for aircraft refurbishment. Many airlines transform older passenger aircrafts to freighter cabins after their useful operational service as passenger aircrafts, thereby extending the economic life of the airplane.

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