Aircraft Interior Refurbishment and Repair Market Size, Share, Growth Analysis, By Aircraft Type(Narrow body aircraft, Wide body aircraft, Large body aircraft), By Refurbishment Type(Interior refurbishment and Exterior refurbishment), By End User(Commercial airlines, private aircraft owners, and military aircraft), By Region - Industry Forecast 2024-2031

Driver

Growing popularity of premium economy class among tourists

• Premium economy class is popular with travellers because it offers a significant upgrade over regular economy class without the higher cost of a business class. Passengers prefer premium economy class because it provides greater room and comfort, premium meals with complimentary bar service, and quicker check-in and baggage delivery at the airport. All this factors drive the growth of global aircraft interior refurbishment and repair market.

Increasing demand for VIP refurbishment of aircrafts 

• North America followed by Europe and Asia Pacific is largest population of high net worth individuals. VIP refurbishment is one of the most profitable businesses as the cost of complete services including manufacturing, engineering, interior design, installation and certification of custom interiors is really high. The VIP cabin consists of a long area, bedroom, first class seats and a dining room. This is expected to fuel the market growth over the forecast period.

Restraint

Introduction of low-maintenance aircraft of the next generation

• Next-generation aircraft are built with advanced engines and systems, making them more efficient, mission capable, cost-effective and comfortable for customers. The advanced engine provides improved fuel efficiency, these factors encourage buyers to go for next-generation aircraft instead of buying refurbished old aircraft, which is expected to hamper the market growth. Customers are encouraged to purchase the next-generation aircraft because the new aircraft has a five-year warranty on its equipment, engine, airframe, and interior.

• Strict regulatory policies regarding air and noise pollution and safety of passengers. Many countries have adopted strict regulatory policies related to noise and air pollution to reduce the effects of greenhouse gases. This will significantly reduce aircraft renewals and force owners to scrap their aircraft and buy new ones. Aircraft with older technology engines emit large amounts of greenhouse gases due to engine failure. These factors are expected to hamper the growth of global aircraft interior refurbishment and repair market.