What is Aircraft Maintenance Services Market Scope?
The aircraft management service includes managing maintenance according to commercial standards and ensuring all logistics. These things are done for both safety and operational efficiency. In addition, aircraft maintenance services offer aircraft owners several advantages. It includes complete control of the aircraft, but also offers the ability to reach a wider range of customers. This increases the number of Business Jet Charter trips your managed aircraft can make in a day and reduces your fixed costs. Aircraft maintenance services take full responsibility for aircraft, including maintenance and planning charters. Aircraft Maintenance Services members also receive discounted prices on fuel, training, jet maintenance, and insurance packages. In addition, the services use international accounting standards (e.g. EASA STC) which help keep track of performance and finances. The automotive and transportation industries are among the industries hardest hit by the ongoing COVID-19 outbreak and are currently in unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. Industry concern has shifted from focusing on disrupting the supply chain from China to the general slump in demand for automotive products. Demand for commercial vehicles is expected to decrease with the discontinuation of all non-essential services. In addition, changes in consumer buying behavior due to the uncertainty surrounding the pandemic could have a serious impact on the growth of the industry in the near future. In the meantime, liquidity bottlenecks and the liquidity crisis have already affected the sales of the fleet operators, which is expected to increase further in the coming months.
The Aircraft Maintenance Services market study is being classified by Type (Airframe, Engine, Component and Line), by Application (Air Transport and BGA) and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Manufacturers from European will contribute to the maximum growth of Global Aircraft Maintenance Services market throughout the predicted period.
Lufthansa Technik (Germany), GE Aviation (United States), AFI KLM E&M (France), ST Engineering Aerospace (Singapore), MTU Friedrichshafen (Germany), AAR Corp (United States), SR Technics (Switzerland) and SIA Engineering (Singapore) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Aircraft Maintenance Services market by Type, Application and Region.
On the basis of geography, the market of Aircraft Maintenance Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Market Trend
- Maintenance and Crucial Repairs of Cargo Planes Due To an Increase in Flying Frequency
- The Rise in International Trade and Demand for New Aircraft
- Rising Airline Operators Are Upgrading Their Plane Models to Enable Cost-Saving That Results In Fuel Efficiency
- The Stringent Regulations Laid Down By Airworthiness Authorities
- A Rise in Aircraft Modernization, Environmental Concerns, and Norms and Regulations
- The Rise of Refurbished and Used Parts in the Engine and Non-Engine Maintenance
- The Introduction of a New-Generation Fleet in the Aviation Sector Requires a High Degree of Expertise and Knowledge
- The Increase in Spending By Airline Companies on Aircraft Maintenance and Spare Parts
- The Rise in Advanced Technologies for Maintenance Activities and OEMs
- The Growing Presence of OEMs in the Maintenance Industry Providing Engine Maintenance Services
- Issues Associated With the Compliance of Various Aviation Regulations
- The Lack of Availability of Skilled Workforce
- Lack of Common Data Standards
Key Target AudienceProviders of Aircraft Maintenance Services, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
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