Aviation Maintenance Training Market
Aviation Maintenance Training Market will obtain an estimated value with a CAGR of 5.80% between 2020-2027.
To ensure effective operation and safe air travel, it is essential to carry out checks or repairs on such aeroplanes as soon as possible. For the appropriate upkeep of aircraft, technicians and engineers must have the necessary training. Consequently, maintenance service providers become accustomed to inspecting and diagnosing aeroplanes in real-world situations. Due to the expansion of maintenance, repair, and overhaul facilities worldwide and the expanding business travel sector, the global market for Aviation Maintenance Training Market Insights has experienced rapid growth in recent years. However, an out-of-date aviation maintenance training curriculum is anticipated to somewhat constrain market expansion.
The company attributed this demand to the nation's rising middle class and rapid growth in aviation. The market is anticipated to return to pre-pandemic levels in a few years due to the continued relevance of the factors boosting the aviation industry, which will fuel the expansion of the maintenance, repair, and overhaul services sector. The companies in the aircraft maintenance market have also been attempting to build up their local presence in the main aviation markets.
The number of maintenance, repair, and overhaul facilities has expanded proportionally to the steadily expanding aviation sector. This number significantly dropped during the COVID-19 pandemic, when air travel was suspended for months by governments all over the world. This had a negative impact on the expansion of the maintenance, repair, and overhaul services sector and resulted in the layoff of numerous maintenance technicians.
Competitive Landscape
Following is Aviation Maintenance Training Market Players:
- CAE Inc. (Canada)
- AAR Corporation (US)
- SR Technics (Switzerland)
- Honeywell International Inc. (US)
- Lufthansa Technik AG (Germany)
- FlightSafety International Inc. (US)
- FlightPath International (Canada)
- FL Technics (Lithuania)
- Global Jet Services, Incorporated (US)
- Insight Aviation (India)
- Pan Am International Flight Academy (US)
Segmentation
The Aviation Maintenance Training Market Outlook is divided into different segments to anticipate the revenues and examine the market shares of each segment throughout the forecast period.
Based on the aircraft type, the worldwide aviation maintenance training market has been divided into fixed-wing, light jets, mid-size jets, heavy jets, and rotary wing categories. The aviation maintenance training market was most profitable for light jets in 2020. Due to the increasing demand for light jets for business travel, the market for light jets is anticipated to dominate over the study period.
Regional Analysis
Over the years, Asia-Pacific has developed into an important aviation center. Due to a rise in demand for air travel, the growing economies in the area, including India and China, are seeing enormous growth in their civil aviation businesses. As a result, a significant growth rate in Asia-Pacific sales is anticipated during the forecast period. The Boeing Company delivered 91 aircraft in the Asia-Pacific area in 2021, compared to 30% of Airbus' deliveries in the same market. Due to strong domestic demand, China is driving the resurgence of commercial aviation worldwide and assisting airlines in experiencing financial recovery.
Recent Developments
Boeing reported in January 2022 that it had received a sizable order from Qatar Airways. The contract, valued at USD 34 billion at list prices, consists of a provisional order for 25 737 Max 10 aircraft and options to purchase a further 25.
In November 2021, 255 A321neo Family aircraft were ordered from Airbus SE by portfolio companies of Indigo Partners, including Wizz Air, Frontier, Volaris, and JetSMART. With this purchase, the airlines owned by Indigo Partners have ordered 1,145 aircraft from the Airbus A320 series.
The Indian Government authorized a deal to buy 56 transport planes for the Indian Air Force in September 2021.
Aviation Maintenance Training Market Research Report: Information by Aircraft Type (Fixed-Wing, Light Jets, Mid-Size Jets, Heavy Jets, and Rotary Wing), Training Type (Airline Crew Training, Pilot Training, Aircraft Maintenance Training, Air Traffic Control Training, and Aviation Sales Marketing Training), Technology [Simulated Training (Virtual Reality and Mixed Reality) and Live Training (Big Data and Internet of Things)], Component (Engine, Interior, Airframe, Avionics, and Others),and Region – Forecast 2030
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