"We Envision Growth Strategies Most Suited
to Your Business"
The global aircraft line maintenance market size is expected to reach USD 23.67 billion by 2027. The rapid surge in passenger air traffic will spur demand for aircraft line maintenance, which, in turn, will augur well for the market in the foreseeable future, mentioned in a report, titled “Aircraft Line Maintenance Market Size, Share & COVID-19 Impact Analysis, By Type (Transit Checks, and Routine Checks), By Aircraft Type (Commercial, Military), By Platform (Traditional Line Maintenance, Digital Line Maintenance), By Service (Engine and APU Service, Component Replacement and Rigging Services, Aircraft On Ground Service, and Others) and Regional Forecasts, 2020-2027” the market size stood at USD 20.21 billion in 2019 and is predicted to expected to exhibit a CAGR of 5.06% between 2020 to 2027.
Partnership between Ramco and CASL to Spur Sales Opportunities
China Aircraft Services Limited (CASL), a prominent supplier of aircraft line and base maintenance and ground support equipment services announced that it has signed a deal with Ramco Systems, an Indian aviation software leader for sustained line maintenance operations. The collaboration of Ramo and CASL will support the offering of integrated Aviation Suite V5.8. The modules will encompass maintenance and engineering, MRO (maintenance, repair, and overhaul) contracts, supply chain and funds to facilitate CASL in sustained end-to-end base maintenance, ground handling, and cabin services.
The latest development of the companies can be an imperative factor in promoting the growth of the market owing to the real-time work order processing through a mobile-enabled application, thus decreasing in total turnaround time. Furthermore, the solutions offered by the company are presented on the cloud for optimization flexibility features. Moreover, the integration of a seamless interface along Ramco's in-built analytics will support automate business processes and reduce transaction costs, which, in turn, will boost the growth of the market. In addition, technological innovations in mobile applications and cloud computing will certainly enhance the business possibilities of the market.
To get a detailed report summary and research scope of this market, click here:
Increasing MRO Subcontractors to Amplify Business
The growing spending on aircraft maintenance and repair by companies to serve customers better will subsequently support the growth of the market. The thriving MRO industry will positively influence the growth of the market. The growing focus towards outsourcing aircraft maintenance due to heavy operational load and labor costs will create business opportunities for the market. The rising inclination towards MRO subcontracting to gain access to more facilities and reduce maintenance time by the airlines will propel the growth of the market. In addition, the growing demand for domestic flights and a rise in global air passenger traffic are factors expected to further augment the growth of the market. Similarly, the booming travel and tourism industry will also have a positive effect on the market in the foreseeable future.
Daunting threats of Cyber Hacks to Limit Market Adoption
The rising cyberattacks can be a critical factor restricting the growth of the market. The growing concerns about security breaches, trade secrets, data of the passengers will consequently restrict the growth of the market during the forecast period. For instance, Cathay Pacific’s data breach, the biggest breach occurred in the aviation industry. This caused severe damage to airline data records. The growing apprehensions regarding cyber-attacks will debilitate the risks associated with the safety of passengers and limit the adoption of airlines. These factors together will act as an obstacle to the growth of the market.
The Report Lists the Main Companies in the Aircraft Line Maintenance Market:
Further Report Findings:
This Market is Segmented into:
Value (USD billion)
By Aircraft Type