Aircraft Refurbishing Market

Aircraft Refurbishing Market Analysis by Retrofit, IFEC (In-flight Entertainment & Connectivity) and Lighting, Passenger Seats for Large, Body, and Narrow Body Aircraft from 2023 to 2033

Analysis of Aircraft Refurbishing Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Aircraft Refurbishing Market Outlook (2023 to 2033)

According to the detailed study by Fact.MR, the global aircraft refurbishing market registered a CAGR of 6.1% from 2018 to 2022. Worldwide demand for aircraft refurbishing reached a market value of US$ 4.67 billion in 2023. The market is projected to expand at a CAGR of 5.8% and reach US$ 8.21 billion by the end of 2033.

Rising operations in the global commercial aviation industry are projected to drive the market for aircraft refurbishing over the coming years. Growing air traffic & air travel activities and rising requirements for premium aircraft cabins are set to generate lucrative opportunities for aircraft refurbishing companies.

  • Revenue from retrofit aircraft refurbishing is projected to rise at 6.2% CAGR and reach a market value of US$ 4.84 billion by the end of 2033.
  • Demand for aircraft refurbishing in France is forecasted to increase at a CAGR of 6.2% and reach US$ 673.46 million by 2033.

Aircraft refurbishment is a procedure to replace and maintain aircraft that includes overhaul, inspection, defect rectification, embodiment modifications, and replacement. The companies operating in the aircraft refurbishment landscape are concentrating on developing fuel-saving, innovative, affordable, durable, and lightweight aircraft.

Manufacturers of airlines are refurbishing and upgrading their existing aircraft fleets to provide comfort as well as convenience to passengers. They are also bringing changes to integrate fuel-efficient components in their respective aircraft.

For instance :

  • In 2021, Virgin Atlantic signed a deal with Aeropeople Engineering Services, which is an aircraft maintenance company. The motive of this deal was to maintain the interior of Virgin Atlantic’s global fleet of Airbus A330/350 aircraft and Boeing 787.

Through this three-year contract, a team of about 80 staff worked at Heathrow Aircraft in collaboration with Cabinair, a provider of interior services. Further, end-to-end services, including cabin interior repair, maintenance, and refurbishment were provided to the airline.

High cost of maintenance of refurbished aircraft is projected to adversely impact market expansion opportunities over the projected period.

Report Attributes Details

Aircraft Refurbishing Market Size (2023)

US$ 4.67 Billion

Forecasted Market Value (2033)

US$ 8.21 Billion

Global Market Growth Rate (2023 to 2033)

5.8% CAGR

Narrow Body Segment Value (2033)

US$ 3.50 Billion

China Market Value (2033)

US$ 1.63 Billion

United States Market Value (2033)

US$ 1.99 Billion

Germany Market Growth Rate (2023 to 2033)

7.4% CAGR

Key Companies Profiled

  • Gulfstream Aerospace Ltd.
  • Diehl Stiftung & Co. KG
  • Hong Kong Aircraft Engineering Co. Ltd.
  • Lufthansa Technik AG
  • Jet Aviation AG
  • Jamco America Inc.
  • Sabreliner Aviation LLC
  • SIA Engineering Co. Ltd.
  • Raytheon Technologies
  • Rose Aircraft Services
  • Nextant Aerospace
  • Safran SA

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What is Propelling the Growth of the Aircraft Refurbishing Market?

“Rising Need for Refurbishment of Aircraft Interiors”

The interior of an aircraft comprises seating, carpeting, LED lighting, hardware, and in-cabin entertainment systems. Prominent players are concentrating on innovative designs with constructive and creative approaches for aircraft interiors. They aim to update aircraft interiors with the latest and advanced styles for passenger comfort and safety. Key companies are putting efforts to transform aircraft interiors into an elegant, sophisticated, and aesthetic look.

In recent years, the demand for VIP aircraft refurbishing is increasing owing to the growing requirements from the owners of business jets. Countries from the Middle East and Asia are emerging markets for aircraft refurbishing.

“Use of 3D Printing to Enhance Aircraft Interiors”

Suppliers and manufacturers are adopting advanced technologies to increase their aircraft refurbishing business. Increasing the fuel efficiency of numerous commercial aircraft is one of the key outcomes of these technological advancements. The growing trend to use 3D printing for aircraft interiors is also adopted by some key players to design aircraft interiors.

Boeing, an aircraft manufacturer, teamed with Oak Ridge National Lab to increase aircraft efficiency and reduce manufacturing waste by using 3D-printed interior parts.

“Increasing Conversion of Passenger Aircraft to Freight Aircraft”

In recent years, an increase in incidences to convert passenger aircraft into freight aircraft has been observed that leads to increased demand for aircraft refurbishment. Many airlines are transforming older passenger airplanes into freight cabins, which is predicted to extend the economic life of respective aircraft.

Which Barriers are Projected to Limit Opportunities for Aircraft Refurbishment Providers?

“Stringent Government Regulations and High Maintenance & Repair Cost of Aircraft”

Implementation of stringent government regulations on noise and air pollution, passenger safety, and harmful emissions is resulting in the retirement of aircraft at an early age. Further, the introduction of various new generation aircraft that come with improved safety but high repair and maintenance costs are expected to limit market expansion.

For instance :

  • Lufthansa announced that it had shrunk its collective fleet of 150 aircraft in March 2021. In addition, it is also considering an early retirement of aircraft that were in deep storage for many years.

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How Can Start-ups Flourish in This Highly Competitive Market?

“Employing 3D Printing for Construction of Aircraft Interiors”

Start-ups are adopting the rising trend to employ 3D printing for the construction of aircraft interiors, which is predicted to generate an optimistic outlook for the market. 3D printed materials are comparatively lighter and fuel-efficient and eventually lead to reduced air pollution. In addition, these materials enable airlines to generate more sophisticated components according to consumer’s requirements.

Aircraft Refurbishing Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Country-wise Insights

What is Stimulating the Growth of the United States Aircraft Refurbishing Market?

“Large Aircraft Fleet in United States Driving High Demand for Aircraft Refurbishment”

The United States market is forecasted to fare at a CAGR of 6% and reach a valuation of US$ 1.99 billion by 2033. The adoption of advanced technology for aircraft repair and the presence of the largest aircraft fleet are booting requirements for aircraft refurbishment.

Increasing air travel along with growing air passenger traffic for business and tourism purposes are also boosting demand for aircraft refurbishment. Commercial airlines are concentrating on modifications in aircraft for economy cabins to improve their reputation among economy-class travelers.

Why is Germany One of the Leading Markets for Aircraft Refurbishing?

“Presence of Several Aircraft Repair and Maintenance Service Providers”

Demand for aircraft refurbishing in Germany is predicted to increase at a 7.4% CAGR and reach US$ 895.20 million by 2033. The presence of numerous aircraft repair and maintenance service providers in Germany is making it a lucrative market for aircraft refurbishing. Rising air passenger traffic and air travel from emerging regions are also contributing to market growth.

Why is Demand for Aircraft Refurbishing Increasing in Japan?

“Growing Number of Airports and Airlines in Japan”

Sales of aircraft refurbishing in Japan are projected to advance at a CAGR of 4.5% and reach a value of US$ 500.98 million by 2033. The growth in Japan is attributed to the rising number of airports and airlines. In addition, increasing tourism, construction of new airports, and expansion of existing ones are predicted to generate profit for industry players.

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Category-wise Insights

What’s Leading to Increased Sales of Retrofit Aircraft Refurbishing?

“Growing Use of Retrofit Aircraft Refurbishing for Passenger Safety”

Demand for retrofit aircraft refurbishing is predicted to increase at a CAGR of 6.2% and reach US$ 4.84 billion by 2033.

Retrofit is the addition of new features or technology in aircraft for private or commercial planes. It can extend the life of aircraft and keep passengers better informed, safe, and more connected. Increasing renovation of aircraft cabin interiors for comfort and luxury is boosting the demand for retrofit refurbishing.

Why is Demand for Narrow Body Aircraft Refurbishing So High?

“Rising Use of Narrow Body Aircraft for Domestic Flights”

Sales of narrow body aircraft are forecasted to advance at a CAGR of 5.7% and reach a valuation of US$ 3.50 billion by the end of the forecast period.

Narrow-body aircraft is an airplane that comes with single-aisle seats containing two to six seats in each row. These aircraft are widely used for medium- and short-haul routes. Narrow body aircraft are commonly used for domestic flights and contribute to increased requirements for periodic refurbishing.

Will VIP Refurbishing Bring in High Revenue Streams for Market Players?

“High Demand Growth for Customization in Private Jet Interiors”

For the past few years, there is a significant increase in the demand for customized VIP aircraft refurbishment and private jet interiors because of the rising demand for comfort and luxury while traveling. Modern technologies, including the sophistication of aircraft interiors, LED lightings for greater style, in-flight entertainment systems, and the latest style of window panels and cabin headliners of unique designs are also contributing to market growth.

Key Market Players

New developments, providing quality products, maintaining product standards, strengthening supply chain management systems, etc., are some significant initiatives helping players get a competitive edge.

Prominent suppliers of aircraft refurbishing are maintaining successful relations with numerous airline companies. Some key players are using various strategies, including acquisition, merger, etc., to offer upgraded solutions to end users.

For instance :

  • In September 2021, Collins Aerospace signed an agreement with FlightAware. The latter is a digital aviation company that offers global flight solutions, decision-making tools, and analytics.
  • In July 2021, Diehl Shiftung & Co. KG entered into a partnership with HAECO Cabin Solutions for the upgradation of services for different commercial aircraft cabins.
  • In July 2021, Hong Kong Aircraft Engineering Co. Ltd. entered into an agreement with Diehl Aviation as a prominent supplier for the delivery of various aircraft cabin projects, including complex installation, etc.

Key companies in the aircraft refurbishing market include Gulfstream Aerospace Ltd., Diehl Stiftung & Co. KG, Hong Kong Aircraft Engineering Co. Ltd., Lufthansa Technik AG, Jet Aviation AG, Jamco America Inc., Sabreliner Aviation LLC, SIA Engineering Co. Ltd., Raytheon Technologies, Rose Aircraft Services, Nextant Aerospace, Safran SA, and AFI KLM E&M.

Segmentation of Aircraft Refurbishing Industry Research

  • By Refurbishing Type :

    • VIP
    • Commercial Cabin Refurbishing
  • By Fitting Type :

    • Retrofit
    • IFEC (In-flight Entertainment & Connectivity) & Lighting
    • Passenger Seats
  • By Aircraft Type :

    • Large Body
    • Wide Body
    • Narrow Body
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

What was the valuation of the aircraft refurbishing market in 2022?

The global aircraft refurbishing market stood at US$ 3.54 billion in 2022.

At what CAGR is the demand for aircraft refurbishing predicted to rise?

Demand for aircraft refurbishing is forecasted to expand at a CAGR of 5.8% from 2023 to 2033.

What is the expected growth rate of the China market?

The aircraft refurbishing market in China is predicted to increase at a CAGR of 6% through 2033.

What is the demand outlook for the market in Germany?

Revenue from aircraft refurbishing in Germany is set to reach US$ 895.20 million by the end of 2033.

What is the expected sales growth of narrow body aircraft refurbishing?

Demand for narrow body aircraft refurbishing is forecasted to expand at a CAGR of 5.7% over the forecast period.

What is the forecasted valuation of the United States market for 2033?

The United States market is predicted to reach US$ 1.99 billion by 2033.

What is the estimated global market size for 2033?

Worldwide sales of aircraft refurbishing are projected to reach US$ 8.21 billion by 2033.

Aircraft Refurbishing Market

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