The aircraft maintenance industry projects to grow from USD 19.23 billion in 2018, to 23.5 billion by 2023, with a 4.10% CAGR from 2018 to 2022. Rigging service is a main segment driving market growth for the aviation maintenance industry.
The reason for the maintenance industry’s growth is due to the rising number of flights per aircraft, more new aircraft deliveries from OEMs and a greater need to carry out repairs and maintenance of existing aircraft fleets.
In particular, growth in the service part of the market is expected to be lead by rigging service & component replacement segments. Market growth in the aircraft maintenance industry has been broken up and will be lead by segments including replacement & rigging service, defect rectification service, engine & APU service, Aircraft on Ground (AOG) and line station setup & management service.
The aircraft maintenance market’s been segmented into transit and routine checks—transit checks are carried out by technicians at the airport ramp. These routine maintenance checks include pre-flight and post-flight checks, service checks, overnight and weekly checks. Pre-flight checkups are conducted by the flight crew, a process that begins from the flight deck in order to ensure it’s servicing status, if any faulty components need to be replaced and make sure the aircraft function is smooth.
News via PR Newswire: https://www.prnewswire.com/news-releases/the-aircraft-line-maintenance-market-is-projected-to-grow-at-a-cagr-of-4-10-from-2018-to-2023–300664810.html