Report : South America 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 Speed Handle Segment to Dominate South America Commercial Aircraft Maintenance Tooling Market during 2021-2028
According to a new market research study on “South America 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$ 83.97 million by 2028 from US$ 103.86 million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the South America commercial aircraft maintenance tooling market along with the drivers and restraints pertaining to the market growth. Growing number of aircraft MRO hangars and increments in the demand for vibration meters are major factors driving the growth of the South America commercial aircraft maintenance tooling market. However, absence of skilled laborers may hinder the growth of South America commercial aircraft maintenance tooling market.
The MRO sector in South America is comparatively smaller than the other regions, as the majority of commercial airlines prefer maintaining their aircraft fleet through international MRO facilities. The emergence of the COVID-19 has led to the grounding of several aircraft fleet across airlines in the region, thereby limiting South America-based MRO facilities to service or overhaul the fleet. This decimated the procurement pattern of maintenance tools, tooling kits, and other machinery. Thus, coupling the factors such as higher dependency on international companies for sourcing maintenance tooling, MRO activity, and grounding of aircraft resulted in a loss of businesses among the commercial aircraft maintenance tooling market player that supply their products to South American MRO companies.
The market for South America 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, afety wire pliers, vibration meters, metal working tools, NDT tools, and others. In 2020, the speed handle segment held the largest share in South America commercial aircraft maintenance tooling market. Based on users, the South America 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 South America commercial aircraft maintenance tooling market. Based on country, the South America commercial aircraft maintenance tooling market is divided into Brazil and rest of South America. In 2020, Brazil held the largest share in South America commercial aircraft maintenance tooling market. Furthermore, in this present scenario of COVID 19 pandemic, the South America commercial aircraft maintenance tooling market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South America 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; Dedienne Aerospace; Tronair Inc. and Snap-On Incorporated are some of the leading companies in the South America 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