The Aircraft Line Maintenance market is estimated to witness a Compound Annual Growth Rate (CAGR) of 4.5 per cent from 2019 to 2029.
The trend of implementing digital technologies to enhance aircraft maintenance operations is having a profound, driving effect on the market.
Leading players, such as Airbus, are overcoming complex maintenance challenges by utilising virtual and augmented reality technologies on the factory floor, simultaneously improving costs, time and accessibility.
The aviation industry is also undergoing a global modernisation process as fleets around the world welcome retrofitted and next-generation aircraft. This trend is also having a positive effect on the Aircraft Line Maintenance market, with airlines increasing demand for greater maintenance efficiencies.
The key player anticipates that global investment and consolidation will be strong over the next decade. The market’s stable health is due to the factors listed above as well as the presence of established companies, such as Ameco Beijing, British Airways Engineering, Delta TechOps and United Technical Operations.
The senior aviation analyst said: "The Global Aircraft Line Maintenance market is expected to generate sales of USD 19.89 billion in 2019.
The addition of new-generation aircraft to fleets around the world, as well as the very existence of ageing aircraft which require frequent maintenance and repair, will likely accelerate this market’s growth over the next few years.
Indeed, by 2029, the Line Maintenance market will have surpassed the 30 billion-pound mark, achieving a total sales figure of USD 31.17 billion."