# Aircraft Refurbishing Market Value to Surpass US$ 7.4 Bn as Demand for Retrofitting Increases by 5.7% CAGR: FMI 
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-02-17
Category: Research Reports
Category URL: https://financedigest.com/category/research-reports
Meta Title: Global Aircraft Refurbishing Market: Insights, Trends & Opportunities
Meta Description: Explore insights on demand drivers, market projections, and emerging opportunities in aircraft refurbishing market as per FMI survey. Request a sample report
URL: https://financedigest.com/aircraft-refurbishing-market-value-to-surpass-us-7-4-bn-as-demand-for-retrofitting-increases-by-5-7-cagr-fmihtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/research-report-1736816220208-compressed.jpg)

_A recent survey conducted by [Future Market Insights](https://www.financedigest.com/by-2032-the-market-for-ai-in-media-entertainment-is-likely-to-be-valued-at-us-4-5-billion-future-market-insights-inc.html "By 2032, the market for AI in Media & Entertainment is likely to be valued at US$ 4.5 Billion | Future Market Insights, Inc.") (FMI) uncovers prevailing trends and opportunities accelerating the growth in the_ _aircraft refurbishing_ _market. It provide riveting insights into key factors driving demand across various segments in terms of fitting type, aircraft type, and refurbishing type._

**[Future Market Insights](https://www.financedigest.com/cocoa-market-size-will-attain-us-23981-1-million-value-by-2033-future-market-insights-inc.html "Cocoa Market Size Will Attain US$ 23,981.1 Million Value by 2033 | Future Market Insights Inc. ") (FMI), Dubai:** As per FMI, the [global aircraft refurbishing market](https://www.futuremarketinsights.com/reports/aircraft-refurbishing-market) is projected to top US$ 4.2 Bn in 2021. Growing emphasis on the expansion of the aviation industry across China, India, and the U.S., following the outbreak of COVID-19 is facilitating the growth in the market.

Rising air [passenger traffic](https://www.financedigest.com/fraport-sees-2023-passenger-traffic-at-80-90-of-pre-pandemic-levels.html "Fraport sees 2023 passenger traffic at 80-90% of pre-pandemic levels") is being experience, owing to the surging demand for fast-paced travel amongst the millennial population. On account of this, the aircraft refurbishing [market](https://www.financedigest.com/athletic-footwear-market-is-expected-to-generate-a-revenue-of-usd-193-3-billion-by-2031-globally-at-4-88-cagr-verified-market-research.html) is expected to surpass US$ 7.4 Bn by the end of 2031.

**Request a report sample to gain comprehensive insights at**

[**https://www.futuremarketinsights.com/reports/sample/rep-gb-1617**](https://www.futuremarketinsights.com/reports/sample/rep-gb-1617)

For instance, according to a report by the International Air Transport Association (IATA), approximately 4.9 billion air travel passengers were reported in 2019 across the world. Hence, increasing focusing on providing better comfort and luxury to the passengers during air travel, is creating lucrative growth opportunities in the market.

Numerous airline companies are actively investing in interiors of their [aircrafts](https://www.financedigest.com/aero-parts-supplier-seniors-h1-profit-rises-on-strong-demand.html) by installing advanced in-flight entertainment systems, comfortable seating, and LED lightings, to enhance the passenger experience.

In addition to this, growing [demand for VIP cabin refurbishing due](https://www.financedigest.com/investments-in-the-caribbean-increasing-due-to-cbi-demand.html "Investments in the Caribbean Increasing Due To CBI Demand") to rising air traffic in first class is anticipated to accelerate the sales of [aircraft](https://www.financedigest.com/aero-parts-supplier-seniors-h1-profit-rises-on-strong-demand.html) refurbishing market. As per Future [Market Insights, the market is projected to expand at 5.8% CAGR](https://www.financedigest.com/mobile-hospitals-market-size-worth-us-52-8-billion-by-2031-cagr-of-10.html " Mobile Hospitals Market Size Worth US$ 52.8 Billion by 2031 | CAGR of ~10%") over the forecast period 2021-2031.

On the basis of fitting type, the retrofitting segment is projected to exhibit the fastest growth in the market, expanding at 5.7% CAGR through 2031. Increasing installation of avionics systems, technologically advanced connectivity solutions, and new cabins to [increase the safety and comfort in aircraft is driving](https://www.financedigest.com/increasing-incidences-of-spinal-fractures-to-drive-the-osteoporosis-drugs-market.html "Increasing incidences of spinal fractures to drive the Osteoporosis Drugs Market") the growth in the segment.

_“Increasing demand for air transport maintenance, repair, and overhaul (MRO) services and upsurge in the trend of the passenger to freighter aircraft conversions is creating high growth prospects in the market,”_ says a [FMI](https://www.financedigest.com/fmi-finds-the-market-is-fuelled-by-rising-internet-usage-and-explosion-of-digital-payments-india-online-grocery-market-is-to-register-a-32-7-of-cagr-through-2032.html "FMI Finds, The Market is Fuelled by Rising Internet Usage and Explosion of Digital Payments; India Online Grocery Market is to Register a 32.7% of CAGR Through 2032") analyst.

**Key Takeaways from** **Aircraft Refurbishing** **Market Study**

- The U.S. is forecast to dominate the [market](https://www.financedigest.com/athletic-footwear-market-is-expected-to-generate-a-revenue-of-usd-193-3-billion-by-2031-globally-at-4-88-cagr-verified-market-research.html) in North America, accounting for nearly 90% of the sales in the region by 2021.
- China aircraft refurbishing [market](https://www.financedigest.com/athletic-footwear-market-is-expected-to-generate-a-revenue-of-usd-193-3-billion-by-2031-globally-at-4-88-cagr-verified-market-research.html) is estimated to total US$ 6.5 Bn through 2031, projecting sales at 7.1% CAGR over the assessment period.
- South Korea and Japan are expected to collectively hold a significant revenue share in the market, accounting for around 7.3% in 2021.
- In terms of aircraft type, narrow body aircraft is anticipated to emerge as the most lucrative segment, [accounting for more than 50% of the demand share](https://www.financedigest.com/the-sharing-economy-whats-in-it-for-accountants.html "THE SHARING ECONOMY: WHAT’S IN IT FOR ACCOUNTANTS?") through 2021.
- Based on refurbishing type, the commercial cabin segment is projected to hold the lion’s in the market, accounting for over 80% of the sales in 2021.

**Key Drivers**

- [Increasing demand](https://www.financedigest.com/multilocal-continues-hiring-spree-following-increasing-demand-for-its-services.html "multilocal continues hiring spree following increasing demand for its services") for customized luxury jets and narrow body aircrafts across the U.S., China, Germany, Japan, and India is propelling the demand for [aircraft](https://www.financedigest.com/aero-parts-supplier-seniors-h1-profit-rises-on-strong-demand.html) refurbishing across the VIP cabin segment.
- Growing production of narrow body aircrafts for long-haul flights by commercial airlines, owing to the increasing air passenger traffic is expected to [drive the sales](https://www.financedigest.com/apples-weak-iphone-sales-drive-first-profit-miss-since-2016.html "Apple’s weak iPhone sales drive first profit miss since 2016") across the narrow body segment.

**Key Restraints**

- Implementation of stringent aircraft standards for noise and air [pollution and to ensure passenger safety are encouraging airlines](https://www.financedigest.com/eu-agrees-law-to-make-airlines-pay-more-to-pollute.html "EU agrees law to make airlines pay more to pollute") to retire old aircrafts rather than refurbish them which is in turn, hampering the growth in the market.
- [Increasing focusing on upgrading economy class interiors to improve passenger comfort at rather low investment](https://www.financedigest.com/investment-in-mental-health-amongst-cybersecurity-professionals-set-to-increase-according-to-infosecurity-europe-poll.html "Investment in mental health amongst cybersecurity professionals set to increase according to Infosecurity Europe poll") in comparison with VIP refurbishing in expected to hinder the sales in VIP cabin segment.

**View TO** **C at**

[**https://www.futuremarketinsights.com/reports/aircraft-refurbishing-market/table-of-content**](https://www.futuremarketinsights.com/reports/aircraft-refurbishing-market/table-of-content)

**Competitive Landscape**

As per [FMI key players in the global aircraft refurbishing market](https://www.financedigest.com/upper-limb-prosthetics-market-valuation-of-us-505-million-by-the-year-2028-at-a-cagr-of-4-9-from-2022-to-2028-fmi.html "Upper Limb Prosthetics Market valuation of US$ 505 Million by the year 2028, at a CAGR of 4.9% from 2022 to 2028 | FMI") include Safran SA, Raytheon Technologies, Gulfstream Aerospace Ltd., Lufthansa Technik AG, AFI KLM E&M. These companies are estimated to cumulatively account for around 89.8% of the total revenue share in 2021.

Leading players are intensively investing to [developing advanced technological innovations](https://www.financedigest.com/avaloq-enlarges-innovation-ecosystem-through-launch-of-developer-portal.html "Avaloq enlarges innovation ecosystem through launch of developer portal") for aircraft interior components to gain competitive edge. Also, some of the companies are also focusing in entering into strategic partnerships, agreements, and collaborations with other industry players to strengthen their footprint. For instance,

- In September 2021, JAMCO, a Japanese aircraft engines and engine parts company, announced partnering with a U.S.-based software company, Object Theory, to develop a new augmented reality (AR) tool for efficient maintenance services. This will assist the company to provide timely service and ensure maximum operational efficiency of the aircraft.

- In July 2021, Diehl Shiftung, German technology enterprise announced [entering in a strategic](https://www.financedigest.com/incentive-fm-group-announces-latest-strategic-me-acquisition.html "INCENTIVE FM GROUP ANNOUNCES LATEST STRATEGIC M&E ACQUISITION") partnership with an American aircraft interior and cabin product manufacturer, HAECO Cabin Solutions to upgrade solutions for commercial aircraft cabins. The partnership will assist the company to [increasing their market](https://www.financedigest.com/edutainment-market-will-increase-at-a-healthy-cagr-of-16-1.html "Edutainment Market will increase at a healthy CAGR of 16.1%") share across aircraft MRO sector.

Some of the key players operating in the [market profiled by FMI](https://www.financedigest.com/adsorbents-market-sales-to-reach-us-8-9-billion-by-2033-get-insights-fmi.html "Adsorbents Market Sales to Reach US$ 8.9 Billion by 2033 | Get Insights FMI") are:

-  Diehl Shiftung & Co. KG
- Gulfstream Aerospace Ltd.
- Jamco America Inc.
- [Hong Kong](https://www.financedigest.com/screening-of-winnie-the-pooh-horror-film-cancelled-in-hong-kong.html "Screening of ‘Winnie the Pooh’ horror film cancelled in Hong Kong") Aircraft Engineering Co. Ltd.
- Jet Aviation AG
- Lufthansa Technik AG
- Sabreliner Aviation LLC
- Raytheon Technologies
- SIA Engineering Co. Ltd
- Rose Aircraft Services
- Safran SA
- Nextant Aerospace
- AFI KLM E&M

**More Valuable Insights on** **Aircraft Refurbishing** **Market**

The latest report by FMI provides a detailed analysis of the global aircraft refurbishing market, providing vital insights into key factor driving the [market through 2021 and beyond](https://www.financedigest.com/beyond-the-pill-strategy-to-be-the-centerpoint-of-high-content-screening-market.html "“Beyond the Pill” Strategy to be the CenterPoint of High Content Screening Market"). The study also disclosed [sales projections on in aircraft](https://www.financedigest.com/stanchart-weighing-options-including-sale-of-aircraft-lessor-unit.html "StanChart weighing options, including sale, of aircraft lessor unit") refurbishing market with detailed segmentation:

**By Fitting Type:**

- Retrofit
- IFES & Lighting
- Passenger Seats

**By Aircraft Type:**

- Large Body Aircraft
- Wide Body Aircraft
- Narrow Body Aircraft

**By Refurbishing Type:**

- VIP Cabin Refurbishing
- Commercial Cabin Refurbishing

**By Region:**

- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)

**Key Questions Covered in the Report**

- The [report offers insight into aircraft refurbishing market demand](https://www.financedigest.com/demand-for-diagnostic-tools-for-evs-to-reach-us-5-4-billion-by-2033-fmi-report.html "Demand for Diagnostic Tools for EVs to reach US$ 5.4 billion by 2033: FMI Report") outlook for the forecast period 2021-2031
- The market study also [highlights](https://www.financedigest.com/atlantia-exit-highlights-milans-battle-to-retain-market-heavyweights.html "Atlantia exit highlights Milan’s battle to retain market heavyweights") projected sales growth for aircraft refurbishing market between 2021 and 2031
- Aircraft refurbishing market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market [size and forecast and technological](https://www.financedigest.com/all-shapes-and-sizes-how-to-match-your-technology-to-your-finances.html "All shapes and sizes: How to match your technology to your finances") advancements within the industry
- Aircraft refurbishing market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

### **About Future Market Insights (FMI)**

[Future Market Insights](https://www.financedigest.com/cocoa-market-size-will-attain-us-23981-1-million-value-by-2033-future-market-insights-inc-2.html "Cocoa Market Size Will Attain US$ 23,981.1 Million Value by 2033 | Future Market Insights Inc. ") (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research [reports and industry analysis help businesses](https://www.financedigest.com/how-increased-environmental-and-ethical-reporting-impact-businesses-and-their-cfos.html "How increased environmental and ethical reporting impact businesses and their CFO’s") navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

**Contact:**

**Corporate Headquarter**

[Future Market Insights](https://www.financedigest.com/wood-coatings-market-is-expected-to-increase-at-a-cagr-of-5-9-from-2022-to-2032-attributing-to-the-increasing-housing-demand-on-a-large-scale-globally-future-market-insights-inc.html "Wood Coatings Market is expected to increase at a CAGR of 5.9% from 2022 to 2032 Attributing to the Increasing Housing Demand on a Large Scale Globally | Future Market Insights, Inc."),

1602-6 Jumeirah Bay X2 Tower,

Plot No: JLT-PH2-X2A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---