This research report presents revenue growth projections until 2019 for aircraft modernization, upgrades, and retrofit. The Report segments the market on the basis of widebody, and regional jets. Market shares for APAC, Americas, and the EMEA are included in the report. The leading vendors detailed in the research include ST Aerospace, Ameco, Boeing, AAR, and L-3 Communications.
Technavio’s market research analysts estimate the commercial aircraft modernization, upgrade, and retrofit market to grow at a CAGR of around 4% between 2015 and 2019. Currently, the Americas dominate the global market for commercial aircraft modernization, upgrade and retrofits, closely followed by EMEA and APAC. However, APAC is expected to be the fastest growing region over the next four years, thanks to the new aircraft deliveries and increased investments to upgrade fleets of aircraft.
The new market research report from Technavio provides a breakdown and analysis of the aircraft modernization, upgrade, and retrofit segments by technology.
“Of late, various air companies have introduced new seating designs and inflight entertainment. Vendors are implementing lightweight seats for business and economy classes to enhance the seating capacity in short and medium-haul fleets. Airlines have also proposed new design cabins with larger aircraft windows for better utilization by customers. Other retrofitting developments include head-up display (HUD), Wi-Fi connectivity on board, sharklet installation for improving the efficiency of the aircraft and the usage of composites for easy repair,” says Sriram Mohan, Lead Analyst, Aerospace & Defense, Technavio Research.
Technological advancements have pushed aircraft manufacturers to renovate aircrafts with the latest avionics systems. These next-generation avionics ensure better flight management and passengers’ safety. These manage air traffic, reduce noise, improve complete flight plan and lower the carbon emissions. Recently, there is a considerable shift from a ground-based air traffic control (ATC) system to a satellite-based navigation of air traffic management (ATM).
The key vendors in the aircraft modernization, upgrade, and retrofit market are ST Aerospace, Ameco, Boeing, AAR, and L-3 Communications. The market vendors are focusing on in-house manufacturing capabilities, global footprint network, improved product offerings, more investments in R&D, newer technologies, and are aiming towards a strong client base. The market is highly competitive and vendors compete on the basis of cost, quality, reliability, and aftermarket service.
A more detailed analysis is available in the Technavio report, Aircraft Modernization, Upgrade, and Retrofit Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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