Report : Europe Commercial Aircraft Tooling Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Tool Type (Speed Handle, Wrenches, Safety Wire Pliers, Vibration Meters, Metal Working Tools, NDT Tools, and Others), Users (MRO Service Providers and Airline Operator), and Application (Engine, Airframe, Landing Gear, Line Maintenance, and Others)
The MRO Service Providers Segment to Dominate Europe Commercial Aircraft Maintenance Tooling Market during 2021-2028
According to a new market research study on “Europe Commercial Aircraft Maintenance Tooling Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Tool Type, Users Application, and Country,” is expected to reach US$ 601.97 million by 2028 from US$ 424.10 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report provides trends prevailing in the Europe commercial aircraft maintenance tooling market along with the drivers and restraints pertaining to the market growth. Rise in the number of aircraft MRO hangars and Incrementing demand for vibration meters are major factors driving the growth of the Europe commercial aircraft maintenance tooling market. However, lack of skilled laborers may hinder the growth of Europe commercial aircraft maintenance tooling market.
The European commercial aviation stakeholders experienced havoc tremors from the outbreak of COVID-19 pandemic. Several aircraft maintenance tooling market players experienced cancellation of previous orders which reflected downturn in their revenues, thereby negatively impacting the market. Nonetheless, as the airlines are bringing back their fleets into service, the demand for maintenance tooling is rising at a decent rate, which is a positive growth factor for the commercial aircraft maintenance tooling market players. The need for maintenance tooling is growing in the European region at a fair pace in the current scenario, as the stored aircraft fleet requires intense maintenance. On the other hand, from aircraft production and delivery perspective, Airbus, the largest commercial aircraft manufacturer, experienced significant decline in production volumes in 2020. However, as the domestic and international aviation is picking up, the aircraft manufacture intends to scale up its production of A320 fleet. Thus, with the increase in newer fleet, the adoption rate of different maintenance tools is expected to rise in the forthcoming years.
The market for Europe commercial aircraft maintenance tooling is segmented into tool type, users, application, and country. Based on tool type, the market is further segmented into speed handle, wrenches, safety wire pliers, vibration meters, metal working tools, NDT tools, and others. In 2020, the speed handle segment held the largest share in Europe commercial aircraft maintenance tooling market. Based on users, the Europe commercial aircraft maintenance tooling market is divided into MRO service providers and airline operator. The MRO service providers segment is expected to be the fastest growing segment over the forecast period. Based on application, the market is categorized into engine, airframe, landing gear, line maintenance, and others. In 2020, the airframe segment held the largest share in Europe commercial aircraft maintenance tooling market. Based on country, the Europe commercial aircraft maintenance tooling market is divided into France, Germany, Italy, UK, Russia and rest of Europe. In 2020, Germany held the largest share in Europe commercial aircraft maintenance tooling market. Furthermore, in this present scenario of COVID 19 pandemic, the Europe commercial aircraft maintenance tooling market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Europe countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for commercial aircraft maintenance tooling.
HYDRO SYSTEMS KG; Red Box Aviation.; Stanley Black & Decker, Inc.; STAHLWILLE Eduard Wille GmbH & Co. KG; Field International Group Limited; Henchman Products; Dedienne Aerospace; Franke Aerotec GmbH; Tronair Inc. and Snap-On Incorporated are some of the leading companies in the Europe commercial aircraft maintenance tooling market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com