PUBLISHER: IMARC | PRODUCT CODE: 1635982
PUBLISHER: IMARC | PRODUCT CODE: 1635982
The global aircraft refurbishing market size reached USD 33.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 47.4 Billion by 2033, exhibiting a growth rate (CAGR) of 3.72% during 2025-2033. The increasing number of operations in commercial aviation due to a considerable rise in air travel activities and the escalating demand for improved quality aircraft cabins represent some of the key factors driving the market.
Aircraft refurbishing is a process of upgrading the existing system of aircraft with the latest technologies and providing a visually pleasing appearance to the aircraft. It is an end-to-end process for the replacement and maintenance of aircraft, which includes inspection, overhaul, replacement, defect rectification, and design modification. An aircraft refurbishing project can involve paint-stripping and corrosion treatment, new liveries, polishing, and updating registration marks if the aircraft is changing ownership. Airlines can also retrofit navigation and communication systems with modern avionics with the help of refurbishment activities. Aside from this, the lavatory, overhead bins, sidewall liners, monuments, windows, cabin lighting, passenger seats, and carpets are generally replaced. With the goal of extending the lifespan of the aircraft without compromising safety or comfort, innovative, fuel-saving, more durable, less expensive and lighter aircraft components are provided during refurbishing.
The growing operations in commercial aviation due to a considerable rise in air travel activities is one of the key factors driving the growth of the market. In line with this, the growing air passenger traffic resulting in an escalating demand for improved quality aircraft cabins is providing an impetus to the market. Moreover, the increasing expenditure of maintaining aircraft has led to the augmenting need for outsourcing aircraft-related maintenance and refurbishing services by aircraft manufacturing and operating firms, which, in turn, is propelling the market demand. The market is also driven by the emerging trend of using 3D printing technology for manufacturing aircraft interiors by leading manufacturers. The increasing popularity of narrow body aircraft for short- and medium-haul routes is creating lucrative growth opportunities for the market as they require periodic refurbishing. A considerable rise in passenger to freighter aircraft conversions to extend the economic life of an airplane is also creating a positive outlook for the market. Additionally, the implementation of creative and constructive approaches focusing on enhanced passenger safety and comfort is fueling the market growth. Furthermore, growing investments by civil aviation companies for brand-value growth of operating firms are providing a boost to the market. Some of the other factors contributing to the market include numerous mergers and acquisitions (M&As), partnerships and collaborations, augmenting demand for aircraft interiors by business jet owners for VIP refurbishing, continual technological advancements, and extensive research and development (R&D) activities conducted by key players.
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