LONDON--(BUSINESS WIRE)--The global aircraft hangar market size is poised to grow by USD 1.12 billion during 2020-2024, progressing at a CAGR of over 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The increasing demand for commercial aircraft is one of the significant factors driving the aircraft hangar market growth. The steady rise in air traffic has created a need for new aircraft. Commercial aircraft OEMs are increasing their manufacturing capacity to cater to this rising demand for new aircraft. They are also focusing on the development of new-generation aircraft with low fuel consumption and noise and carbon emissions. As a result, the demand for aircraft hangars has increased. The design of aircraft hangars has also undergone significant changes to suit the changing aircraft sizes and technologies, with modern aircraft hangars being fitted with temperature control and security devices. Market vendors are also offering customized aircraft hangars, designed as per the requirements of the end-users.
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- The major aircraft hangar market growth came from fixed installed hangars segment. These are used for maintenance, replacement, and assembly of new aircraft at airbases. They also help in protecting aircraft from inclement weather conditions. The rise in commercial aviation, modernization of aircraft fleets and airports, increasing fleet capacity, and rising procurement of new aircraft are a few of the factors fueling the demand of fixed installed aircraft hangars.
- APAC was the largest market for aircraft hangar in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. Factors such as a rise in passenger traffic and mass procurement of new aircraft are contributing to aircraft hangar market growth in this region.
- The global aircraft hangar market is fragmented. AECOM, Alaska Structures, Allied Steel Buildings Inc., ClearSpan Fabric Structures Inc., DIUK ARCHES Ltd., Fulfab Inc., JOHN REID & SONS (STRUCSTEEL) Ltd., PFEIFER Holding GmbH & Co. KG, Rubb Buildings Ltd., and The Korte Co. are some of the major market participants. To help clients improve their market position, this aircraft hangar market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global aircraft hangar market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/aircraft-hangar-market-industry-analysis
Increasing Adoption of Smart Airport Terminals will be a Key Market Trend
The increasing adoption of smart airport terminals has improved operational efficiency and enhanced passenger experience. Smart airport terminals enable real-time data exchange and airport-wide integration with passenger services and security capabilities. Regulatory authorities, such as the ICAO, the IATA, the Federal Aviation Administration, the European Aviation Safety Agency, the Civil Aviation Safety Authority, and the EU, are also promoting the development of smart airports for safe flight and airport operations. These changes in the aviation industry have encouraged market vendors to offer advanced and heavy-duty hangars. New generation aircraft hangars provide several features, including effective condition monitoring, high level of security, and advanced systems for effective inspection and MRO.
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Aircraft Hangar Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist aircraft hangar market growth during the next five years
- Estimation of the aircraft hangar market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the aircraft hangar market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of aircraft hangar market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Value-chain analysis
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Fixed installed hangar - Market size and forecast 2019-2024
- Portable installed hangar - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing preference for rental model
- Increasing demand for unmanned platforms
- Rising adoption of intelligent solutions
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Alaska Structures
- Allied Steel Buildings Inc.
- ClearSpan Fabric Structures Inc.
- DIUK ARCHES Ltd.
- Fulfab Inc.
- JOHN REID & SONS (STRUCSTEEL) Ltd.
- PFEIFER Holding GmbH & Co. KG
- Rubb Buildings Ltd.
- The Korte Co.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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