The aircraft line maintenance market is projected to grow from USD 19.23 Billion in 2018 to USD 23.50 Billion by 2022, at a CAGR of 4.10% from 2018 to 203. The Asia Pacific region is projected to lead the aircraft line maintenance market during the forecast period. It is expected to be followed by the North American region. The growth of the aircraft line maintenance market is driven by the increased number of flights undertaken by aircraft, rise in the number of aircraft deliveries by OEMs, and increased requirement for carrying out repair and maintenance of the existing aircraft fleets of airlines.
The key players operating in the aircraft line maintenance market include AMECO (China), ANA Line Maintenance Technics (Japan), Avia Solutions Group (Lithuania), BCT Aviation Maintenance (UK), British Airways (UK), Delta TechOps (US), HAECO (Hong Kong), Lufthansa Technik (Germany), Monarch Aircraft Engineering (UK), Nayak Group (Germany), SAMCO Aircraft Maintenance (Netherlands), SIA Engineering (Singapore), STS Aviation Group (US),Turkish Technic (Turkey), and United Technical Operations (US), among others.
These leading market players have adopted the strategies of contacts, new product launches, agreements, joint ventures, and partnerships to enhance their position in the aircraft line maintenance market. The strategy of contracts was the key strategy adopted by the market players between December 2015 and April 2018. The key players have also adopted the strategy of agreements, joint ventures, and partnerships to strengthen their foothold in the aircraft line maintenance market.
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Lufthansa Technik (Germany) is one of the leading players in the aircraft line maintenance market. The company provides aircraft line maintenance services to several regional and domestic airlines across the globe. Spairliners, which is a subsidiary of Lufthansa Technik, received a contract from the Royal Jordanian Airlines (Jordan) in March 2018. Spairliners is a leading provider of integrated component care services for Embraer E-Jet and Airbus A380 aircraft. Under this contract company, the company is expected to supply aircraft components and carry out repairing of E-Jet fleet of the Royal Jordanian Airlines that consists of three E175 and two E195 aircraft. In April 2018, the company also received a Total Component Maintenance (TCM) contract from Jet Airways (India) for its narrow body aircraft fleet of 80 Boeing 737NG. According to this contract, the company is expected to carry out repairing of aircraft components on closed-loop and flat rate-basis. This contract also aims at providing extensive component pooling-based support for ten Boeing 777 and eight Airbus A330 aircraft.
SIA Engineering (Singapore) is another prominent player in the aircraft line maintenance market. The company offers a diverse portfolio of services in the aircraft line maintenance market. The company is engaged in the development of technologically-advanced products for various end-use industries. In February 2018, the company signed a Memorandum of Understanding (MoU) with Safran (France) to provide technical assistance in the field of data analytics, which is expected to help SIA develop software for predictive maintenance of aircraft and related components in the aviation industry. SIA Engineering Company expanded its business operations in Japan with the establishment of a wholly-owned subsidiary, Mainboard-listed SIA Engineering Company Limited (Singapore). This subsidiary is expected to provide line maintenance services for the Kansai International Airport (Japan).
Aircraft Line Maintenance Market by Service (Component Replacement & Rigging, Defect Rectification, Engine & APU, Aircraft on Ground), Type (Transit Checks, Routine Checks), Aircraft Type (NBA, WBA, VLA), Region - Global Forecast to 2023
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