Aircraft Maintenance Tooling Market Forecasts to 2028 – Global Analysis By Users (Maintenance, Repairing, and Overhauling (MRO), Airline Operators), Tool Type (Metalworking, Speed Handle, Vibration Meter) and By Geography
According to Stratistics MRC, the Global Aircraft Maintenance Tooling Market is accounted for $3,304.81 million in 2020 and is expected to reach $5,267.36 million by 2028 growing at a CAGR of 6.0% during the forecast period. The rising production rate of commercial aircraft and increasing requirement of predictive, prescriptive, and condition-based maintenance of aircraft are the major factors propelling the market growth. However, stringent aviation compliance and regulations are hampering market growth.
Aircraft maintenance is the performance of tasks required to ensure the continuing airworthiness of an aircraft or aircraft part, including inspection, overhaul, replacement, defect rectification, and the embodiment of modifications, compliance with airworthiness directives, and repair.
Based on the tool type, the speed handle segment is estimated to have a huge demand during the forecast period. A speed handle allows technicians to spin and eradicate a screw head swiftly with one hand while the other hand is handling other repairs. It can also offer speed handles with sockets to tighten or loosen a nut or bolt.
By geography, Europe is going to have a lucrative growth during the forecast period due to a rise in the expenditure on maintenance for the airlines to ensure the airworthiness of their aircraft assets. Increased focus of original equipment manufacturers (OEMs) on maintenance, repairing, and overhauling (MRO) activities and increased efforts on fuel efficiency are also driving the market.
Some of the key players profiled in the Aircraft Maintenance Tooling Market include AeroWest Mfg. Corp., Alberth Aviation, Farwest Aircraft, Frank Brown & Son Ltd, HYDRO SYSTEMS KG, Inspection Technologies Ltd, Norbar Torque Tools Ltd, PROTO, Red Box Aviation, and Shanghai kaviation Technology Co., Ltd.
Estimated Market Size in 2020:
USD 3,304.81 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 5,267.36 million
Tables, Graphs & Figures
Users, Tool Type and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Maintenance, Repairing, and Overhauling (MRO) Service Providers
• Airline Operators
Tool Types Covered:
• Metalworking Tools
• Safety Wire Pliers
• Speed Handle
• Vibration Meter
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2019, 2020, 2021, 2025, and 2028
- 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
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Aircraft Maintenance Tooling Market is majorly driven by the rising production rate of commercial aircraft and the increasing requirement of prescriptive, predictive, and condition-based maintenance of aircraft.
The speed handle segment is growing at the highest CAGR due to it permits technicians to spin and eradicate a screw head swiftly with one hand while the other hand is handling other repairs.
North America dominated with a significant market share due to increasing investments in the aviation industry in developed and developing nations.
Asia Pacific market is growing at the highest CAGR due to the rising integration of blockchain, augmented reality (AR), artificial intelligence (AI), and big data analytics.
Key players in Aircraft Maintenance Tooling Market include AeroWest Mfg. Corp., Alberth Aviation, Farwest Aircraft, Frank Brown & Son Ltd, HYDRO SYSTEMS KG, Inspection Technologies Ltd, Norbar Torque Tools Ltd, PROTO, Red Box Aviation, and Shanghai kaviation Technology Co., Ltd.
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