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Aircraft Line Maintenance Market size was valued at USD 18.34 billion in 2019 and is poised to grow from USD 19.3 billion in 2023 to USD 28.73 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Many businesses are putting an emphasis on organic growth initiatives, including new launches, product approvals, and others like patents and events. Acquisitions, partnerships, and collaborations are examples of business expansion tactics that were observed in the market. These actions have made it possible for market participants to increase their clientele and revenue. With the increasing need for aircraft line maintenance in the market, market participants in the aviation line maintenance industry can expect profitable growth possibilities in the coming years. For instance, in June 2021, Ramco Systems revealed that it would digitally revolutionize Bristow Group's maintenance and engineering operations by using its Aviation M&E MRO Software V5.8. 'Lufthansa Technik AG', 'AAR Corp.', 'SR Technics', 'STS Aviation Group', 'British Airways Engineering', 'Hong Kong Aircraft Engineering Company Limited (HAECO)', 'Airbus Services', 'United Technical Operations (UTO)', 'Air France Industries KLM Engineering & Maintenance (AFI KLM E&M)', 'Jet Aviation', 'MTU Maintenance', 'Ameco Beijing', 'GE Aviation', 'TAP Maintenance & Engineering', 'GKN Aerospace', 'Turkish Technic', 'FL Technics', 'Embraer Services & Support', 'SIA Engineering Company (SIAEC)'

During the forecast years, it is expected that increased demand for aviation maintenance would propel the worldwide aircraft line maintenance market. This is due to the need to maintain aircraft's optimal performance and adhere to strict regulatory standards.

The aviation sector is making tremendous strides in the creation of cutting-edge technology and the application of those technologies throughout various maintenance tasks. To simplify their maintenance and manufacturing, airlines, engine manufacturers, MRO service providers, and airlines are eager to invest in these types of cutting-edge technologies. For example, the application of artificial intelligence in aircraft maintenance has reduced maintenance errors. Prior to the discovery of any issue, Al can forecast airplane repair failure. Organizations' increasing use of intelligent Al-based solutions will promote market expansion.

In 2021, North America accounted for the largest market share and in the forecast years, we will see significant expansion in this region's aircraft line maintenance market, in large part because of the presence of well-established firms in the US.  Enterprises like American Airlines and Delta have increased their investments in the aircraft industry. Additionally, the expansion of the fleet size can portend well for the future of the sector.

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Global Aircraft Line Maintenance Market

Product ID: SQSG20R2004