Photo credit: Photo by AviationPros.
MarketsandMarkets announced that a new market research report, "Global Aircraft Refurbishing Market (Commercial, Cargo And Business Aircrafts) (2012 - 2017)," revealed the total aircraft refurbishing market is expected to reach $4.3 Billion by 2017 with a CAGR of 7.0 percent.
According to a release, the global aircraft refurbishing market was based on data collected and researched; assumptions were made with the help of primary sources who had given their insights on frequency and distribution of the cycles of refurbishing an aircraft, based on which we were able to estimate for all the markets covered in this report.
Mainly because of short haul flights it is about on-time performance and cheap fares though comfort and amenities will be expected from the passengers so the airlines do not intend to take up narrow body refurbishments in a large scale operation. When such short haul aircrafts are refurbished they are mainly done to keep the aircraft in line with the concept of reduction of fuel i.e. greener aircrafts and also to increase the seating capacity as airlines look at generating more revenue than fly an empty business class.
The estimated revenue for refurbishing market has increased from $3.04 billion in 2012 to $4.26 billion in 2017 globally. The CAGR of 2012 to 2017 is estimated to be 7.0 percent. The revenues for aircraft refurbishing market show an increase over the forecasted period and will continue to be a fast evolving market.
This report covers the aircraft refurbishing market by:
-Very large aircrafts
-Wide Body aircrafts,
-Narrow Body aircrafts,
-Passenger to Freighter conversions,
-Commercial cabin refurbishments and
-VIP cabin refurbishments
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
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