Aircraft Refurb Market Growing: Report
A new report by marketsandmarkets.com says the aircraft refurbishing and repurposing market will grow to $4.3 billion in 2017, up from about $3 billion in 2012. The report ($4650 for a single download), which covers aircraft from business jets to heavy transport, looks at the existing opportunities and areas of future growth and covers opportunities all over the world. As the world economy continues to improve, operators are investing in their fleets for both operational and economic reasons, the report's synopsis says. "The revenues for aircraft refurbishing market show an increase over the forecasted period and will continue to be a fast evolving market," the synopsis reads.
Among the markets the report identifies for growth are the VIP/business jet sector as businesses recover from the recent economic doldrums. Also, it says many airlines are taking out all or part of their business class seating in favor of larger economy sections. There are also re-engine options for older airframes that will make them more fuel-efficient that some airlines are taking advantage of.