Aircraft Maintenance Market
Aircraft Maintenance Market Forecasts to 2030 - Global Analysis By Aircraft Type (Narrow-body Aircrafts, Wide-body Aircrafts and Other Aircraft Types), Maintenance Type (Engine, Line Maintenance, Airframe, Components and Other Maintenance Types), Organization Type, End User and by Geography
According to Stratistics MRC, the Global Aircraft Maintenance Market is accounted for $82.71 billion in 2023 and is expected to reach $131.94 billion by 2030 growing at a CAGR of 6.9% during the forecast period. A vital component of guaranteeing the dependability and safety of aircraft operations is aircraft maintenance. In order to meet strict aviation standards, it includes a wide range of activities aimed at inspecting, repairing, and servicing aircraft components and systems. Professionals with advanced training and certifications are essential to the maintenance process because they carry out regular inspections, handle mechanical problems, and follow strict maintenance plans.
According to the International Air Transport Association (IATA), aircraft maintenance is a fundamental aspect of the aviation industry, ensuring the continued airworthiness of aircraft and upholding rigorous safety standards.
Market Dynamics:
Driver:
Growing air traffic worldwide
The market for aircraft maintenance is primarily driven by the exponential growth in air traffic worldwide. Airlines are growing their fleets to accommodate the increasing number of passengers due to a surge in passenger demand for air travel. More frequent maintenance cycles are required to maintain the aircraft's airworthiness as a result of this increased activity. Additionally, the demand for skilled maintenance services is driven by the constant movement of planes, both domestically and internationally, which necessitates meticulous attention to maintenance schedules and checks.
Restraint:
Insufficient skilled labor
The aviation maintenance industry faces a significant challenge due to the lack of qualified and experienced technicians. The industry is having trouble finding and keeping skilled workers as demand for maintenance services rises. Furthermore, the intricacy of contemporary aircraft systems necessitates specific training, and a lack of qualified workers may result in heavier workloads, slower turnaround times, and possibly lower-quality maintenance work.
Opportunity:
Growing need for maintenance and repair services
The market for aviation maintenance has a lot of potential due to the rising need for maintenance, repair, and overhaul (MRO) services. Complete maintenance and repair (MRO) services are becoming more and more necessary as the world's fleet of military and commercial aircraft continues to expand. Moreover, this covers standard inspections, fixes, and overhauls, giving maintenance companies a steady stream of chances to broaden the scope of services they offer and serve a variety of aircraft types.
Threat:
Fierce rivalry and pressure on prices
The market for airplane maintenance is vulnerable to pricing pressure and shrinking profit margins due to fierce competition. Smaller maintenance providers may find it difficult to compete on price due to the dominance of a small number of major competitors in the market, running the risk of financial hardship and sacrificing the caliber of services provided. Additionally, in order to lessen the impact of pricing pressures, this competitive landscape demands strategic differentiation and cost-effective operations.
Covid-19 Impact:
The market for airplane maintenance has seen a significant and unprecedented impact as a result of the COVID-19 outbreak. There was a dramatic drop in the use of airplanes as a result of the extensive travel restrictions, decreased demand for passengers, and operating difficulties in the aviation industry. Due to financial difficulties, airlines had to postpone maintenance, halt their fleets, and reduce the number of new contracts they were awarded. MRO providers were similarly impacted by the decline in air travel demand; many of them saw reduced workloads, layoffs, and financial difficulties. Furthermore, the pandemic brought to light the industry's susceptibility to outside shocks and underscored the necessity of adaptability and resilience in the face of unanticipated worldwide catastrophes.
The Narrow-body Aircrafts segment is expected to be the largest during the forecast period
It is projected that the narrow-body aircraft segment will command the largest market share for airplane maintenance. This is mostly because narrow-body aircraft, like the Boeing 737 and Airbus A320 families, are widely used for short- to medium-haul flights, making them the backbone of several airlines throughout the world. The need for maintenance services is driven by the increased frequency of repair requirements resulting from shorter turnaround times and higher flight frequencies. Moreover, narrow-body aircraft are also more common in low-cost carrier fleets, which frequently place an emphasis on economical maintenance techniques.
The Independent MRO segment is expected to have the highest CAGR during the forecast period
With a focus on offering independent aviation maintenance services outside of original equipment manufacturers (OEMs), the Independent MRO (Maintenance, Repair, and Overhaul) segment is expected to have the highest CAGR. Numerous services, including regular maintenance, repairs, component replacements, and overhauls, are provided by these independent MROs. They frequently offer flexibility and affordability by serving a variety of airlines and aircraft types. Additionally, independent MROs benefit from having the ability to concentrate just on maintenance services, which enables them to offer competitive prices and acquire specialized expertise.
Region with largest share:
North America holds the largest share of the global aircraft maintenance market. With a sizable number of airlines, aircraft operators, and maintenance companies, North America has long dominated the aviation sector. The area has a strong infrastructure in place for MRO (maintenance, repair, and overhaul) of aircraft, which includes modern facilities, cutting-edge equipment, and highly qualified personnel. The need for maintenance services is fueled by the sizeable fleets of commercial aircraft in major aviation hubs like the United States and Canada. Furthermore, North America is home to a number of well-known OEMs and aircraft manufacturers, which offers a solid platform for MRO operations.
Region with highest CAGR:
In the market for airplane maintenance, the Europe region is projected to have the highest CAGR. The region serves as a key hub for aircraft maintenance, repair, and overhaul operations due to its several major airlines, airports, and MRO service providers. Europe has the advantage of having a large and well-established network of MRO facilities that are staffed by skilled specialists and outfitted with cutting-edge equipment. The region's advantageous position also makes it easier for airlines and aircraft operators to connect with and reach them efficiently.
Key players in the market
Some of the key players in Aircraft Maintenance market include Boeing Company, GMF AeroAsia, Lufthansa Technik AG, AAR Corporation, GE Aviation, Delta TechOps, Honeywell International, Pratt & Whitney, Safran Aircraft Engines, Air France KLM Engineering & Maintenance, Royal Royce, ST Aerospace Ltd and Airbus Group.
Key Developments:
In March 2024, GE Aerospace announced it has reached agreement with Ethiopian Airlines for 16 GE9X engines to power the airline’s new fleet of Boeing 777X aircraft, becoming the first GE9X customer in Africa. GE Aerospace is honored to power Ethiopian Airlines’ new Boeing 777X fleet with our latest generation technology GE9X engine, said Russell Stokes, President and CEO, Commercial Engines and Service, GE Aerospace.
In September 2023, Lufthansa Technik AG has signed a three-year contract with flag carrier Philippine Airlines for the maintenance of eight CFM56-5B engines for the airline’s A320ceo fleet. The new contract adds to the two company’s existing Total Component Support (TCS) agreements for Philippine Airlines’ Boeing 777 fleet and Base Maintenance Services (BMS) with Lufthansa Technik’s subsidiary in the Philippines.
In August 2023, AAR CORP., a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed two multi-year commercial agreements with Moog Inc. The agreements are the first steps in a new strategic relationship that allows for potential future expansion of the scope of services provided.
Aircraft Types Covered:
• Narrow-body Aircrafts
• Wide-body Aircrafts
• Other Aircraft Types
Maintenance Types Covered:
• Engine
• Line Maintenance
• Airframe
• Components
• Other Maintenance Types
Organization Types Covered:
• Independent MRO
• Original Equipment Manufacturer MRO
• Other Organization Types
End Users Covered:
• Commercial
• Military
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aircraft Maintenance Market, By Aircraft Type
5.1 Introduction
5.2 Narrow-body Aircrafts
5.3 Wide-body Aircrafts
5.4 Other Aircraft Types
6 Global Aircraft Maintenance Market, By Maintenance Type
6.1 Introduction
6.2 Engine
6.3 Line Maintenance
6.4 Airframe
6.5 Components
6.6 Other Maintenance Types
7 Global Aircraft Maintenance Market, By Organization Type
7.1 Introduction
7.2 Independent MRO
7.3 Original Equipment Manufacturer MRO
7.4 Other Organization Types
8 Global Aircraft Maintenance Market, By End User
8.1 Introduction
8.2 Commercial
8.3 Military
8.4 Other End Users
9 Global Aircraft Maintenance Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 GMF AeroAsia
11.2 Lufthansa Technik AG
11.3 AAR Corporation
11.4 GE Aviation
11.5 Delta TechOps
11.6 Honeywell International
11.7 Pratt & Whitney
11.8 Safran Aircraft Engines
11.9 Air France KLM Engineering & Maintenance
11.10 Royal Royce
11.11 ST Aerospace Ltd
11.12 Airbus Group
List of Tables
1 Global Aircraft Maintenance Market Outlook, By Region (2021-2030) ($MN)
2 Global Aircraft Maintenance Market Outlook, By Aircraft Type (2021-2030) ($MN)
3 Global Aircraft Maintenance Market Outlook, By Narrow-body Aircrafts (2021-2030) ($MN)
4 Global Aircraft Maintenance Market Outlook, By Wide-body Aircrafts (2021-2030) ($MN)
5 Global Aircraft Maintenance Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
6 Global Aircraft Maintenance Market Outlook, By Maintenance Type (2021-2030) ($MN)
7 Global Aircraft Maintenance Market Outlook, By Engine (2021-2030) ($MN)
8 Global Aircraft Maintenance Market Outlook, By Line Maintenance (2021-2030) ($MN)
9 Global Aircraft Maintenance Market Outlook, By Airframe (2021-2030) ($MN)
10 Global Aircraft Maintenance Market Outlook, By Components (2021-2030) ($MN)
11 Global Aircraft Maintenance Market Outlook, By Other Maintenance Types (2021-2030) ($MN)
12 Global Aircraft Maintenance Market Outlook, By Organization Type (2021-2030) ($MN)
13 Global Aircraft Maintenance Market Outlook, By Independent MRO (2021-2030) ($MN)
14 Global Aircraft Maintenance Market Outlook, By Original Equipment Manufacturer MRO (2021-2030) ($MN)
15 Global Aircraft Maintenance Market Outlook, By Other Organization Types (2021-2030) ($MN)
16 Global Aircraft Maintenance Market Outlook, By End User (2021-2030) ($MN)
17 Global Aircraft Maintenance Market Outlook, By Commercial (2021-2030) ($MN)
18 Global Aircraft Maintenance Market Outlook, By Military (2021-2030) ($MN)
19 Global Aircraft Maintenance Market Outlook, By Other End Users (2021-2030) ($MN)
20 North America Aircraft Maintenance Market Outlook, By Country (2021-2030) ($MN)
21 North America Aircraft Maintenance Market Outlook, By Aircraft Type (2021-2030) ($MN)
22 North America Aircraft Maintenance Market Outlook, By Narrow-body Aircrafts (2021-2030) ($MN)
23 North America Aircraft Maintenance Market Outlook, By Wide-body Aircrafts (2021-2030) ($MN)
24 North America Aircraft Maintenance Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
25 North America Aircraft Maintenance Market Outlook, By Maintenance Type (2021-2030) ($MN)
26 North America Aircraft Maintenance Market Outlook, By Engine (2021-2030) ($MN)
27 North America Aircraft Maintenance Market Outlook, By Line Maintenance (2021-2030) ($MN)
28 North America Aircraft Maintenance Market Outlook, By Airframe (2021-2030) ($MN)
29 North America Aircraft Maintenance Market Outlook, By Components (2021-2030) ($MN)
30 North America Aircraft Maintenance Market Outlook, By Other Maintenance Types (2021-2030) ($MN)
31 North America Aircraft Maintenance Market Outlook, By Organization Type (2021-2030) ($MN)
32 North America Aircraft Maintenance Market Outlook, By Independent MRO (2021-2030) ($MN)
33 North America Aircraft Maintenance Market Outlook, By Original Equipment Manufacturer MRO (2021-2030) ($MN)
34 North America Aircraft Maintenance Market Outlook, By Other Organization Types (2021-2030) ($MN)
35 North America Aircraft Maintenance Market Outlook, By End User (2021-2030) ($MN)
36 North America Aircraft Maintenance Market Outlook, By Commercial (2021-2030) ($MN)
37 North America Aircraft Maintenance Market Outlook, By Military (2021-2030) ($MN)
38 North America Aircraft Maintenance Market Outlook, By Other End Users (2021-2030) ($MN)
39 Europe Aircraft Maintenance Market Outlook, By Country (2021-2030) ($MN)
40 Europe Aircraft Maintenance Market Outlook, By Aircraft Type (2021-2030) ($MN)
41 Europe Aircraft Maintenance Market Outlook, By Narrow-body Aircrafts (2021-2030) ($MN)
42 Europe Aircraft Maintenance Market Outlook, By Wide-body Aircrafts (2021-2030) ($MN)
43 Europe Aircraft Maintenance Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
44 Europe Aircraft Maintenance Market Outlook, By Maintenance Type (2021-2030) ($MN)
45 Europe Aircraft Maintenance Market Outlook, By Engine (2021-2030) ($MN)
46 Europe Aircraft Maintenance Market Outlook, By Line Maintenance (2021-2030) ($MN)
47 Europe Aircraft Maintenance Market Outlook, By Airframe (2021-2030) ($MN)
48 Europe Aircraft Maintenance Market Outlook, By Components (2021-2030) ($MN)
49 Europe Aircraft Maintenance Market Outlook, By Other Maintenance Types (2021-2030) ($MN)
50 Europe Aircraft Maintenance Market Outlook, By Organization Type (2021-2030) ($MN)
51 Europe Aircraft Maintenance Market Outlook, By Independent MRO (2021-2030) ($MN)
52 Europe Aircraft Maintenance Market Outlook, By Original Equipment Manufacturer MRO (2021-2030) ($MN)
53 Europe Aircraft Maintenance Market Outlook, By Other Organization Types (2021-2030) ($MN)
54 Europe Aircraft Maintenance Market Outlook, By End User (2021-2030) ($MN)
55 Europe Aircraft Maintenance Market Outlook, By Commercial (2021-2030) ($MN)
56 Europe Aircraft Maintenance Market Outlook, By Military (2021-2030) ($MN)
57 Europe Aircraft Maintenance Market Outlook, By Other End Users (2021-2030) ($MN)
58 Asia Pacific Aircraft Maintenance Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Aircraft Maintenance Market Outlook, By Aircraft Type (2021-2030) ($MN)
60 Asia Pacific Aircraft Maintenance Market Outlook, By Narrow-body Aircrafts (2021-2030) ($MN)
61 Asia Pacific Aircraft Maintenance Market Outlook, By Wide-body Aircrafts (2021-2030) ($MN)
62 Asia Pacific Aircraft Maintenance Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
63 Asia Pacific Aircraft Maintenance Market Outlook, By Maintenance Type (2021-2030) ($MN)
64 Asia Pacific Aircraft Maintenance Market Outlook, By Engine (2021-2030) ($MN)
65 Asia Pacific Aircraft Maintenance Market Outlook, By Line Maintenance (2021-2030) ($MN)
66 Asia Pacific Aircraft Maintenance Market Outlook, By Airframe (2021-2030) ($MN)
67 Asia Pacific Aircraft Maintenance Market Outlook, By Components (2021-2030) ($MN)
68 Asia Pacific Aircraft Maintenance Market Outlook, By Other Maintenance Types (2021-2030) ($MN)
69 Asia Pacific Aircraft Maintenance Market Outlook, By Organization Type (2021-2030) ($MN)
70 Asia Pacific Aircraft Maintenance Market Outlook, By Independent MRO (2021-2030) ($MN)
71 Asia Pacific Aircraft Maintenance Market Outlook, By Original Equipment Manufacturer MRO (2021-2030) ($MN)
72 Asia Pacific Aircraft Maintenance Market Outlook, By Other Organization Types (2021-2030) ($MN)
73 Asia Pacific Aircraft Maintenance Market Outlook, By End User (2021-2030) ($MN)
74 Asia Pacific Aircraft Maintenance Market Outlook, By Commercial (2021-2030) ($MN)
75 Asia Pacific Aircraft Maintenance Market Outlook, By Military (2021-2030) ($MN)
76 Asia Pacific Aircraft Maintenance Market Outlook, By Other End Users (2021-2030) ($MN)
77 South America Aircraft Maintenance Market Outlook, By Country (2021-2030) ($MN)
78 South America Aircraft Maintenance Market Outlook, By Aircraft Type (2021-2030) ($MN)
79 South America Aircraft Maintenance Market Outlook, By Narrow-body Aircrafts (2021-2030) ($MN)
80 South America Aircraft Maintenance Market Outlook, By Wide-body Aircrafts (2021-2030) ($MN)
81 South America Aircraft Maintenance Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
82 South America Aircraft Maintenance Market Outlook, By Maintenance Type (2021-2030) ($MN)
83 South America Aircraft Maintenance Market Outlook, By Engine (2021-2030) ($MN)
84 South America Aircraft Maintenance Market Outlook, By Line Maintenance (2021-2030) ($MN)
85 South America Aircraft Maintenance Market Outlook, By Airframe (2021-2030) ($MN)
86 South America Aircraft Maintenance Market Outlook, By Components (2021-2030) ($MN)
87 South America Aircraft Maintenance Market Outlook, By Other Maintenance Types (2021-2030) ($MN)
88 South America Aircraft Maintenance Market Outlook, By Organization Type (2021-2030) ($MN)
89 South America Aircraft Maintenance Market Outlook, By Independent MRO (2021-2030) ($MN)
90 South America Aircraft Maintenance Market Outlook, By Original Equipment Manufacturer MRO (2021-2030) ($MN)
91 South America Aircraft Maintenance Market Outlook, By Other Organization Types (2021-2030) ($MN)
92 South America Aircraft Maintenance Market Outlook, By End User (2021-2030) ($MN)
93 South America Aircraft Maintenance Market Outlook, By Commercial (2021-2030) ($MN)
94 South America Aircraft Maintenance Market Outlook, By Military (2021-2030) ($MN)
95 South America Aircraft Maintenance Market Outlook, By Other End Users (2021-2030) ($MN)
96 Middle East & Africa Aircraft Maintenance Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Aircraft Maintenance Market Outlook, By Aircraft Type (2021-2030) ($MN)
98 Middle East & Africa Aircraft Maintenance Market Outlook, By Narrow-body Aircrafts (2021-2030) ($MN)
99 Middle East & Africa Aircraft Maintenance Market Outlook, By Wide-body Aircrafts (2021-2030) ($MN)
100 Middle East & Africa Aircraft Maintenance Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
101 Middle East & Africa Aircraft Maintenance Market Outlook, By Maintenance Type (2021-2030) ($MN)
102 Middle East & Africa Aircraft Maintenance Market Outlook, By Engine (2021-2030) ($MN)
103 Middle East & Africa Aircraft Maintenance Market Outlook, By Line Maintenance (2021-2030) ($MN)
104 Middle East & Africa Aircraft Maintenance Market Outlook, By Airframe (2021-2030) ($MN)
105 Middle East & Africa Aircraft Maintenance Market Outlook, By Components (2021-2030) ($MN)
106 Middle East & Africa Aircraft Maintenance Market Outlook, By Other Maintenance Types (2021-2030) ($MN)
107 Middle East & Africa Aircraft Maintenance Market Outlook, By Organization Type (2021-2030) ($MN)
108 Middle East & Africa Aircraft Maintenance Market Outlook, By Independent MRO (2021-2030) ($MN)
109 Middle East & Africa Aircraft Maintenance Market Outlook, By Original Equipment Manufacturer MRO (2021-2030) ($MN)
110 Middle East & Africa Aircraft Maintenance Market Outlook, By Other Organization Types (2021-2030) ($MN)
111 Middle East & Africa Aircraft Maintenance Market Outlook, By End User (2021-2030) ($MN)
112 Middle East & Africa Aircraft Maintenance Market Outlook, By Commercial (2021-2030) ($MN)
113 Middle East & Africa Aircraft Maintenance Market Outlook, By Military (2021-2030) ($MN)
114 Middle East & Africa Aircraft Maintenance Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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