Report : North America Aircraft Maintenance Tooling Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Tool Type (Speed Handle, Wrenches, Safety Wire Pliers, Vibration Meter, Metalworking Tools, and Others); Users (MRO Service Providers, and Airline Operators)
Speed Handle Segment to Dominate North America Aircraft Maintenance Tooling Market during 2019–2027
According to a new market research study on “North America Aircraft Maintenance Tooling Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast – by Toot Type, Users and Country,” is expected to reach US$ 1,064.34 Mn by 2027 from US$ 801.21 Mn in 2019. The market is estimated to grow at a CAGR of 3.7% from 2020 to 2027. The report provides trends prevailing in the North America aircraft maintenance tooling market along with the drivers and restraints pertaining to the market growth. Rise in the production rate of commercial aircraft and upsurge in the requirement of predictive, prescriptive, and condition-based maintenance of aircraft are the major factors driving the growth of the North America aircraft maintenance tooling market. However, the stringent aviation compliance and regulations may hinder the growth of North America Aircraft maintenance tooling market.
The market for North America aircraft maintenance tooling is segmented into tool type, users and country. Based on tool type, the market is segmented into speed handles, wrenches, safety wire pliers, vibration meters, metalworking tools, and others. In 2019, the speed handle segment held the largest share in North America Aircraft maintenance tooling market. Based on users, the North America aircraft maintenance tooling market is divided into MRO service providers and airline operators. The MRO service providers segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the North America aircraft maintenance tooling market has been facing difficulties and several countries have suffered heavily. US, Canada and Mexico are some of the countries that have incurred a huge loss. The manufacturing sectors in the countries mentioned above have been experiencing low production and a weak supply chain.
AeroWest Mfg Corp, Farwest Aircraft, Norbar Torque Tools Ltd., PROTO, Red Box Aviation, Alberth Aviation and Hydro Systems KG are among the leading companies in the North America 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.
The report segments the North America Aircraft Maintenance Tooling market as follows:North America Aircraft Maintenance Tooling market – By Tooling Type
- Speed Handles
- Safety Wire Pliers
- Vibration Meters
- Metalworking Tools
- MRO Service Providers
- Airline Operators
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