The market for aircraft refurbishment is on pace to expand to $4.3 billion per year over the next five years, according to a report by MarketsandMarkets.com. That’s up from $3.04 billion spent in 2012. The report cites needs for fleet expansion among airlines and cargo carriers, but also the business aviation sector. Undoubtedly, the big numbers come from the first two. But the fact that a study on the refurbishment industry includes the bizav sector at all, is a good sign for the general aviation industry overall.
The report is based on “…data collected and researched and assumptions made with the help of primary sources…” The scope of the report includes: very large aircraft, widebody aircraft, narrowbody aircraft, VIP aircraft, passenger-to-freighter conversions, commercial cabin refurbishment and VIP cabin refurbishment.
MarketsandMarkets is a U.S.-based market research and consulting company with clients among Fortune 500 companies around the world. You can see a summary of the full 204-page report here.
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