Aircraft Modernization, Upgrade, and Retrofit Market 2015-2019
About civil aircraft modernisation
Airlines across the world are seeking to retrofit their aircraft with the latest upgrades to improve the operational efficiency, increase the life span of an aircraft, and to be cost effective. Depending on the types of aircraft, retrofits, upgradation, and modernization are performed on avionics, including seats, galley, food storage equipment, windows, windshields and lavatory, and aerodynamic retrofit.
Technavio's analysts forecast the global commercial aircraft modernisation and upgrade and retrofit market to grow at a CAGR of 3.98% over the period 2014-2019.
Covered in this report
The report includes the present scenario and the growth prospects of the global commercial aircraft modernisation and upgrade and retrofit market for the period 2015-2019. The market can be segmented into three divisions, namely, narrow-body aircraft, wide-body aircraft, and regional jets.
Technavio's report, Global Commercial Aircraft Modernisation and Upgrade and Retrofit Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Commercial Aircraft Modernization and Upgrade and Retrofit Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Commercial Aircraft Modernization and Upgrade and Retrofit Market: ST Aerospace, Ameco, Boeing, AAR and L-3 Communications
Other Prominent Vendors in the market are: Global AirWorks, HAECO, Honeywell, Rockwell Collins and Zodiac Aerospace
Commenting on the report, an analyst from Technavio’s team said: “Airlines are continuously shifting toward cabin customization to improve the customer inflight experience through the introduction of innovatively designed cabins that meet customers' needs. For example, in the Boeing 787 Dreamliner, the pull-down plastic shades and small windows are replaced by larger windows with a dimming effect through which the light can be adjusted. These windows are 65% larger and 19 inches taller than the standard aircraft windows and, thus, enable the user to see a lot more of their surroundings. For example, Air New Zealand started utilizing these windows in 2015 for its new Boeing Dreamliner 787-9 on the Sydney to Auckland route.”
According to the report, globally, the airline market is facing issues with increased fuel prices, which affect aircraft operating costs significantly. In 2003, operating costs were valued at 14% and had risen by 30% by 2013, globally, due to rising fuel charges. This has put immense pressure on airlines and aircraft manufacturers to upgrade and modernize cabin interiors such as existing aircraft seats. This has led to the implementation of lightweight seats for business and economy classes of short and medium-haul fleets.
Further, the report states that issues with aircraft LED light fixtures is a major challenge affecting the market growth.
ST Aerospace, Ameco, Boeing, AAR, L-3 Communications, Global AirWorks, HAECO, Honeywell, Rockwell Collins, Zodiac Aerospace
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