The report, now available on ASDReports, recognizes the following companies as the key players in the global aircraft refurbishing market: AAR, Ameco, Aviation Partners Boeing, L-3 Communications Aviation Recorders, and ST Aerospace.
Other Prominent Vendors in the market are: Global AirWorks, HAECO, Honeywell, Lufthansa Technik, Rockwell Collins, and Zodiac Aerospace.
Commenting on the report, an analyst said: “A trend helping to boost market growth is the rising popularity of VIP cabins. The growing demand for luxury travel and the desire for comfort and connectivity is increasing the demand for VIP cabin conversions. In order to meet the ever-rising expectations and changing preferences of customers who wish to fly on the finest aircraft, various teams such as engineers, ground interior designers, completion specialists, and manufacturers are focusing on advanced technology and high premium cabin refurbishments.”
According to the report, a key growth driver is the growing demand for premium economy class. The changing passenger preferences have necessitated airlines to explore more options for travel. With the growing income, the cost-sensitive passengers are tending toward comfort luxury travel. Therefore, the concept of premium economy class, which was first introduced by Taiwanese carrier Eva Air in 1991, was widely accepted by airlines globally. This provided an opportunity for air carriers to improve yields by providing an intermediate zone with extra space and comfort for a small hike in the economy fare.
Further, the report states that one challenge that could hamper market growth is the complexities involved in the decision-making process.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: Jul 13, 2016