Overview of the aircraft heavy maintenance visit (HMV) market
Market research analysts at Technavio predict the global aircraft heavy maintenance visit (HMV) market to grow at a CAGR of around 6% by 2020. The increasing development in ultrasonic technique will be one of the key factors contributing to the growth of the market. The use of this technique enables early detection of internal defects in materials and nondestructive testing of aircraft components. Also, this checks for damage in the landing gear legs, engine attachments, and lap joints. The development of non-destructive evaluation technologies that combine efficient image processing with acoustic nonlinearity techniques will aid in monitoring the condition of the airframe. Furthermore, the improvement in the ultrasonic system will enable engineers to detect potential faults in the airframe before it develops into a macroscopic material damage.
One of the recent trends in the market is the implementation of robotised maintenance assistance. These robots are developed to perform all upkeep functionalities that include general cleaning, measuring geometric parameters, identifying defects, and performing all machine repair actions. The adoption of robotized maintenance will increase the productivity of the team and help in early detection of any faults with the aircraft.
Competitive landscape and key vendors
The level of the competition in the market is determined by cost, product quality, reliability, and aftermarket service that the players offer. Many companies will invest in the expansion of manufacturing capabilities, product offerings, and research for technological innovations to sustain the competition in the market. Moreover, the manufacturers will provide cost-effective, high-quality, and advanced solutions to increase their global footprint and enlarge their consumer base. Technavio’s analysts predict that the major vendors will collaborate, and the competition will intensify during the forecast period.
Key players in the market are -
Aviation Technical Services (ATS)
Other prominent players include Evergreen Aviation Technologies, Monarch Aircraft Engineering, Ascent Aviation, SR Technics, Singapore Technologies Aerospace, and Zodiac Aerospace.
Segmentation based on the type of MRO and analysis of the aircraft HMV market
Airframe and modifications
During 2015, the airframe and modification segment was the largest in the market and accounted for over 51% of the total market share. The increasing rate of expenditure on narrow-body aircraft maintenance will lead to the growth of this segment during the forecast period. Also, the analysts predict that there will be an extensive use of smart electronics and chemically engineered composites in the manufacture of aircraft will influence the overall HMV market.
Geographical segmentation and analysis of the aircraft HMV market
This market research report predicts EMEA to dominate the global market, accounting for around 39% of the total market share by 2020. The use of large carbon-composite airframes for aircraft will help in the growth of this market. These composites will reduce the overall time of maintenance operations and the necessity for regular checks. Moreover, the increasing adoption of wide-body fleets by several air carriers like Emirates, Qatar, Etihad Airways will help in the evolution of the market.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global aircraft HMV market?
What are the key market trends impacting the growth of the global aircraft HMV market?
What are the challenges to market growth?
Who are the key vendors in the global aircraft HMV market?
What are the market opportunities and threats faced by the vendors in the global aircraft HMV market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global aircraft HMV market?
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