New York, US, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Aircraft Jack Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Aircraft Jack Market Information by Type, Application and Region - Forecast till 2027”, the market is projected to grow at 3.2% CAGR
Market Scope
Ground support for normal maintenance and inspections is provided by aircraft jacks. Tripod and axle jacks are the most commonly utilized jacks. Typically, aircraft jacks are used for tire, strut, and wheel maintenance. To lift the aircraft, jacks are mounted to the main landing gear or nose gear.
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Competitive Landscape
- Chiarlone Officine
- Malabar International
- Semmco Limited
- Stertil-Koni
- HYDRO SYSTEMS KG
- SOLAIR GROUP LLC.
- Langa Industrial S.A.
- Makro Aero
- ColumbusJACK/Regent
- Dedienne Aerospace
- GSE Composystem
Market Drives
Due to an increase in the number of aircraft and an increasing focus on aircraft maintenance, the worldwide aircraft jack market has seen rapid expansion in recent years. The increased investment in technology by MRO providers and original equipment manufacturers is fueling aircraft maintenance. In addition, military aircraft purchase is on the rise. The majority of this demand is expected to come from emerging markets. As a result, an increase in the number of airplanes on the market is projected to boost market growth. Aircraft MROs and OEMs are increasingly spending in maintenance to extend the aircraft's shelf life. Periodic maintenance can help extend the life of an aircraft. Increased demand for airplane jacks has resulted from the increased attention on aviation maintenance. In addition, rising economies such as India, Brazil, and South Africa are seeing rapid expansion in the aviation industry. As a result, emerging countries are expected to offer a lucrative potential for the growth of the aviation sector, propelling demand for aircraft jacks over the forecast period.
Market Restraints
The intricacy of the installation, on the other hand, is expected to limit market growth throughout the projection period. Depending on the aircraft, jacking and safety procedures differ. The installation of jacks is a complicated operation due to factors such as employing jacks in a level position, using suitable jacking points, and the requirement for stabilizers.
COVID-19 Analysis
COVID-19's negative impact on the aerospace and defense industries is likely to stall aircraft jack advancement in the coming years. Due to the COVID-19 pandemic, the aviation sector has seen an extraordinary drop in the recent year. The viral outbreak has had a tremendous impact on airline industry.
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Market Segmentation
In 2019, the Hydraulic sector had the largest market share by type. These jacks employ a hydraulic cylinder to deliver force to the aircraft in order to lift it. Hydraulic jacks are typically large and difficult to maintain. However, features such as their ability to lift big loads, require less space, and are less likely to clog due to screw thread are expected to drive demand over the projection period.
The civil aviation sector is expected to lead the market over the forecast period, based on application. This is due to an increase in the number of commercial aircraft in use around the world, as well as rising maintenance and repair costs. There is a huge demand for civil aircraft in emerging markets. These commercial aircraft will require routine maintenance, which will increase demand for airplane jacks.
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Regional Analysis
The aircraft jack market is dominated by North America. Due to the existence of key companies such as Malabar International, Solair Group LLC, and others, this trend is expected to continue over the forecast period. Many commercial and military aircraft are also responsible for the region's rapid growth.
In 2019, Europe accounted for a sizable portion of the entire market. Increased commercial air transportation propels the region's expansion in countries including the United Kingdom, Spain, Germany, and France. Furthermore, European countries have greatly boosted their spending on military aircraft purchase, which is expected to fuel regional market growth
During the projection period, the market in APAC is expected to grow at the fastest rate. Market growth is likely to be fueled by rising demand for new aircraft and rising defense spending in countries like India and China. The Asia-Pacific region offers a significant investment potential for aircraft jack makers. Furthermore, the region has expanded its military aircraft purchase spending, which is expected to boost the expansion of aircraft jacks.
The civil aviation industry in Latin America has grown significantly. The need for MRO services has expanded as the number of commercial aircraft has increased, augmenting regional growth.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
