New York, Nov. 18, 2021 (GLOBE NEWSWIRE) -- According to our new research study on Commercial Aircraft Maintenance Tooling Market Size, Share, Revenue, Forecast to 2028 - COVID-19 Impact and Global Analysis By Tool Type (Speed Handle, Wrenches, Safety Wire Pliers, Vibration Meters, Metal Working Tools, NDT Tools, and Others), Users (MRO Service Providers and Airline Operator), and Application (Engine, Airframe, Landing Gear, Line Maintenance, and Other).
| Report Coverage | Details |
| Market Size Value in | US$ 1,456.40 million in 2021 |
| Market Size Value by | US$ 2,020.46 million by 2028 |
| Growth Rate | CAGR of 4.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 180 |
| No. Tables | 85 |
| No. of Charts & Figures | 81 |
| Historical Data Available | Yes |
| Segments Covered | Tool Type, Users, and Application |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country Scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Commercial Aircraft Maintenance Tooling Market: Competitive Landscape and Key Developments
Hydro Systems KG, Red Box Tools, Stanley Black & Decker, Shanghai kaviation Technology Co. Ltd., STAHLWILLE Eduard Wille GmbH & Co. KG, Field International Group Limited, Henchman Products, Dedienne Aerospace, FRANKE-Aerotech GmbH, German Gulf Aviation Services, Tronair, and Snap-On Tools are among the key players that are profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global commercial aircraft maintenance tooling market and its ecosystem.
In March 2021, Field International Group announced the expansion of its India business wherein Field International Pvt Ltd. (Indian Subsidiary) and will develop a manufacturing facility, serving the local India and International markets by providing aircraft tooling and manufacturing solutions.
In 2019, Dedienne Aerospace received an award of new license agreement for the nacelle GSE with Collins Aerospace’s Aerostructures division. The new license agreement empowers Dedienne Aerospace to give GSE and associated services on E190, E2, A220, MRJ nacelle programs, as well as legacy nacelle programs PW4000, V2500, CF680E1/E2, CF34, CFM56, Trent 700, RB211, and 737.
Commercial aircraft line maintenance service providers and engine maintenance service providers focusing on the procurement of advanced maintenance tools to perform their tasks efficiently. Both line maintenance and engine maintenance are of utmost importance for any aircraft operator. The engine maintenance needs are growing steadily as modern engines are equipped with advanced technologies, while the maintenance cycles are defined by the engine manufacturers. An engine is the highest revenue generation stream for aircraft MRO service providers due to a continuous rise in the production and installation of engines as well as maintenance requirements of the existing engines. The engine segment in aircraft MRO is expected to generate significant revenues in the coming years due to the constant rise in production and new installation of engines coupled with existing engines. Owing to the continuous growth of engine usage, the maintenance frequencies and maintenance bays are also expected to surge in the coming years. As a result, the engine MRO segment would generate a noteworthy demand for various maintenance tools, which would bolster the commercial aircraft maintenance tooling market during the forecast period.
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The North American commercial aircraft industry has witnessed constant growth over the past few years. The US has the largest commercial aviation fleet worldwide and the biggest domestic air travel market worldwide that requires regular maintenance to make the aircraft available for operational purposes. Also, growing awareness of predictive maintenance across the aviation sector is one of the major drivers aiding the growth of the commercial aircraft maintenance tooling market in North America.
Furthermore, COVID-19 pandemic has led to a decline of 7.0% in 2020 compared to 2019 in the North America commercial aircraft maintenance tooling market growth. This is due to the reduced number of operational aircraft across the region. For instance, the pre-COVID aircraft fleet size of North America was around 8,087 units, wherein nearly 4,600 aircraft were sent to storage due to suspended aircraft operations during the pandemic. Of these, 2,100 aircraft were put back to service after resuming commercial aviation operations in 2020.
The commercial aviation industry had been witnessing a significant growth rate prior to the outbreak of COVID-19. However, the concerns related to vibrations on aircraft engines and airframes are among the most critical aspects for MRO service providers and airline operators with in-house MRO facility looks upon. This is due to the fact that more than any other industry, each component in the aviation industry is mission-critical as a single defect has the potential of causing costly or catastrophic consequences. Therefore, engine and airframe vibration analysis are of utmost importance for the aircraft operators and MRO service providers, which is propelling the demand for vibration meters in the MRO industry stakeholders.
Owing to a continuous rise in demand, the manufacturers of advanced vibration meters are focused on the development of robust vibration analyzers. MTI Instruments has developed a turbine vibration analyzer/balancing system named PBS-4100R+ that is suitable for jet engines. The system is used by several aircraft manufacturers and MRO facilities operating in the commercial aviation sector. MIT Instruments has developed PBS-4100+ for ground usage. The two analyzers mentioned earlier are compatible with engines from Pratt & Whitney, GE, Honeywell, and Rolls-Royce. Similarly, ACES Systems offers Viper II, a portable vibration analyzer, for the vibration analysis of engines offered by leading commercial aircraft jet engine manufacturers. The ability to deliver quick and accurate data is one of the critical benefits of the Viper II analyzer, which makes it an attractive choice in the commercial aircraft MRO industry. The availability of several commercial aircraft vibration analyzers/meters enables the MRO providers to procure the desired product easily. This factor is helping the commercial aircraft maintenance tooling market to propel over the years. The rising inclination toward the adoption of advanced vibration meters by the MRO service providers and airline operators with in-house MRO facilities is driving the commercial aircraft maintenance tooling market.
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Commercial Aircraft Maintenance Tooling Market: Speed Handle Commercial Aircraft Maintenance Tooling Overview
The aviation industry is highly regulated and requires precise monitoring for safer operations. The airlines and commercial aircraft OEMs require continuous inspection and checking of aircraft for maintaining the guidelines set by aviation authorities. In the US, the aviation guidelines are administrated by the Federal Aviation Administration (FAA). Similarly, different regions have different aviation authorities that regulate and manage the aviation industry of their respective regions. The modern aircraft models require regular check and maintenance of parts and components to preserve their life span as long as possible along with safe and efficient operations. Also, different commercial aircraft components require common maintenance tools and specific tools to perform maintenance, repair, and overhaul operations. Therefore, commercial aircraft maintenance tooling plays a crucial role in maintaining the required modifications and repairs in an aircraft to retain its life span and support the airlines, aircraft OEMs, and MRO service providers to retain efficient operations that lead to better aircraft performance. Moreover, the rising awareness related to predictive aircraft maintenance is one of the major trends propelling the demand for aircraft maintenance across the global aviation sector. In addition, the deployment of new technologies in commercial aircraft and demand for refurbishment of old generation commercial aircraft fleet are expected to drive the growth of the commercial aircraft maintenance tooling market in the future.
Key Questions to Request for Commercial Aircraft Maintenance Tooling Market:
- What are reasons behind commercial aircraft maintenance tooling market growth?
- What are market opportunities for commercial aircraft maintenance tooling market?
- Which tool type is expected to dominate the commercial aircraft maintenance tooling market in the forecast period?
- Which user is expected to dominate the commercial aircraft maintenance tooling market during the forecast period?
- Which region is expected to dominate the commercial aircraft maintenance tooling market in the forecast period?
- What trends are expected to drive the demand for various commercial aircraft maintenance tooling market?
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