The global aircraft HMV market was valued at around $20 billion in 2015 and is expected to surpass $25 billion by 2020, says Technavio.
Technavio has recently added a latest market research report on aircraft HMV to its aerospace components portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global aircraft HMV market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Airbus Group, Aviation Technical Services, Boeing, and Lufthansa Technik.
In terms of geographical analysis, EMEA will be the largest region in the global market, reaching revenues of more than $10 billion by 2020. Western European Countries will emerge as the key revenue-generators.
“The manufacturers have researched and developed robots that pass through several repair stations within a single production cell. These robots are designed to perform cleaning, measuring geometric parameters, identifying faults, and conducting machining repairing actions. Robot-assisted solutions help in the detection of the areas that require the attention of various levels. This technology also helps the maintenance team in improving productivity by bringing down the time of maintenance operations,” says Avimanyu Basu, a lead analyst at Technavio for aerospace components.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rapid development in ultrasonic technique
The market is experiencing the non-destructive testing of metallic, non-metallic, magnetic, or non-magnetic components of an aircraft, which is called ultrasonic inspection. This technology is used for the detection of internal defects in materials, and can also detect small flaws, estimate the location, and size of the defect. It is mainly used for detecting surface and subsurface defects in aircraft structure joints, casting main structural fittings of landing gear legs and engine attachments, pylon, bolts in critical areas, welds, and forging. This technology is also checks adhesive bond quality, composite structure, and lap joints and aids in thickness measurement after damage or corrosion removal.
Establishment of new maintenance facilities
Global aircraft manufacturers are penetrating various local and regional service markets by establishing new maintenance facilities across the globe. The availability of specialized manufacturer-certified heavy maintenance services helps companies reduce costs. Also, these vendors are focusing on developing service centers in emerging markets to increase their global footprint. Some of these new facilities are established in the APAC region, including countries like Singapore, Indonesia, Thailand, and Australia.
Advent of new technologies
Vendors in the market are focusing on the development of next-generation products and systems to meet the requirements for modernized aircraft. The manufacturers are developing technologies that enable the customization process for cabin components with a lightweight design and introducing new fuselage paradigms. The emergence of high-performance production platforms will also boost the growth of the aircraft HMV market.
Other prominent vendors identified in this report are Evergreen Aviation Technologies, Monarch Aircraft Engineering, Ascent Aviation, SR Technics, Singapore Technologies Aerospace, and Zodiac Aerospace.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Aircraft HMV Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Aircraft Carbon Brakes Market 2016-2020
- Global Military Helicopter MRO Market 2016-2020
- Global Aircraft Component MRO Market 2015-2019
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