Aircraft Line Maintenance Market to Witness High Growth Owing to Rising Aircraft Fleet Size

Line maintenance involves tasks that are elementary and performed daily with the aim of keeping an aircraft in an airworthy condition before and in-between flights. It includes routine inspections, cleaning, defect rectification and more. Line maintenance not only ensures safety and airworthiness but also improves an aircraft's operational efficiency and reliability by preventing defects from accumulating. With air travel demand on the rise, airline operators are retrofitting their existing fleets and inducting newer aircraft to cater to increased passengers. This is estimated to drive the demand for line maintenance services.

The global aircraft line maintenance market is estimated to be valued at US$ 498.34 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising aircraft fleet size is one of the major drivers of the global aircraft line maintenance market. According to Airbus Global Market Forecast 2022-2041, the worldwide aircraft fleet is projected to grow 3.6% annually totaling 49,405 aircraft deliveries over the next 20 years. This includes both new aircraft deliveries as well as replacements of retiring aircraft. With a larger fleet size, the demand for line maintenance to keep these aircraft airworthy and ensure smooth operations is also expected to increase significantly. Additionally, an aging commercial aircraft fleet is leading to higher maintenance requirements and line maintenance needs. For instance, the average fleet age of the US commercial aircraft is over 17 years as of 2021. Older aircraft undergo more regular checks and maintenance to keep them operational safely. This is further contributing to market growth over the forecast period.

SWOT Analysis

Strength: The aircraft line maintenance market has strong expertise in providing MRO services for various aircraft types and fleet types. The market players have experienced workforce who can effectively handle day-to-day maintenance activities. Moreover, aircraft line maintenance ensures on-time departure and arrival of aircraft with minimum turnaround time.

Weakness: Highly dependency on aircraft operators for contracts and budgets can impact market revenue. Frequent technology upgradations in aircraft fleets require additional investments and trained workforce which increases operating costs.

Opportunity: Emergence of new airlines in developing countries is boosting demand for line maintenance services. Moreover, increasing passenger traffic is translating to rising aircraft fleet size, thereby driving the need for scheduled line maintenance activities. Rising procurement of newer aircraft models also presents opportunities.

Threats: Macroeconomic uncertainties and fluctuating crude oil prices impacting airline revenue and consequently line maintenance outsourcing decisions. Trade wars and geopolitical tensions affecting global commerce are other threats. Stringent regulatory norms regarding aircraft maintenance can increase compliance cost.

Key Takeaways

The global aircraft line maintenance market is expected to witness high growth. In 2024, the market size is projected to reach US$ 498.34 billion with a CAGR of 6.8% during the forecast period of 2023 to 2030.

Regional analysis: North America currently dominates the market attributed to presence of leading MRO service providers in the region. However, Asia Pacific is expected to register fastest growth attributed to burgeoning aviation industry led by China and India. Rising procurement of newer aircraft by low-cost carriers will drive the demand.

Key players: Key players operating in the aircraft line maintenance market are Lufthansa Technik, GE Aviation, AFI KLM E&M, ST Aerospace, SIA Engineering Company, AAR, AMECO, British Airways Engineering, Delta TechOps, HAECO, Iberia Maintenance, Korean Air Aerospace Division, TAP Maintenance & Engineering, Turkish Technic, UNITED TECHNICS, SR Technics, JAL Engineering Co., Ameco Beijing, Aeroman, Air France Industries KLM Engineering & Maintenance.

The global aircraft line maintenance market is witnessing partnerships, acquisitions and collaborations amongst market players to enhance service portfolios with latest technologies and expand customer base.