Market Introduction
The Middle East and Africa commercial aircraft maintenance tooling market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The commercial aviation sector has maintained a strong fleet size over the years, with Airbus and Boeing are the two most notable aircraft manufacturers in terms of delivery statistics. The commercial aviation industry has witnessed tremendous growth in the past few years with the emergence of new low-cost carriers (LCCs) and fleet expansion strategies adopted by the full-service carriers (FSCs). Further, commercial aviation is foreseen to surge in the coming years owing to the mounting number of air travel passengers and aircraft procurement. With the projected rise in aircraft volumes, the demand for various types of maintenance tools, including wrenches, vibration tools, NDT tools, calibration tools, metalworking tools, and speed handles, would also increase in the coming years. Moreover, elevated aircraft production volume would boost the production and maintenance of aircraft jet engines, which is likely to create opportunities for the commercial aircraft maintenance tooling market players to sell their products to engine MRO providers. Thus, a decent rate of aircraft delivery, coupled with the existing fleet size (excluding the retired and sent to long-term storage due to COVID-19), pose significant business opportunities for the MRO industry players, which would ultimately drive the commercial aircraft maintenance tooling market during the forecast period.
The COVID-19 pandemic has had an adverse impact on the Middle East and Africa commercial aviation industry. The countries in the region imposed air travel bans to curb the spread of the virus, which impaired the entire aviation industry ecosystem. The region has a minimal number of maintenance tools suppliers for commercial aviation, and the Maintenance, Repair and Operations in the region rely heavily on the international suppliers. This is one of the key factors for the decline in revenues caused by the emergence of COVID-19. Further, the decision to retire or long-term storage of aircraft fleet by various MEA based airlines has resulted in revenue loss of MRO facilities. Nonetheless, as the airlines in the region are removing their fleet from storage facilities for renewed operations, it is anticipated that the number of aircraft movements will upsurge, which would subsequently propel the demand for maintenance tools among the MRO facilities.
Market Overview and Dynamics
The commercial aircraft maintenance tooling market in Middle East and Africa is expected to grow from US$ 130.77 million in 2021 to US$ 166.70 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028. Commercial aircraft line maintenance service providers and engine maintenance service providers focusing on the procurement of advanced maintenance tools to perform their tasks efficiently. Both line maintenance and engine maintenance are of utmost importance for any aircraft operator. The engine maintenance needs are growing steadily as modern engines are equipped with advanced technologies, while the maintenance cycles are defined by the engine manufacturers. An engine is the highest revenue generation stream for aircraft MRO service providers due to a continuous rise in the production and installation of engines as well as maintenance requirements of the existing engines. The engine segment in aircraft MRO is expected to continue generating significant revenues in the years to come. This is majorly due to the constant rise in production and installation of engines coupled with existing engines. Attributing to the continuous growth of engine usage, the maintenance frequencies, as well as maintenance bays, are also expected to surge in the coming years. Thus, an increase in engine maintenance frequencies and bay As a result, the engine MRO segment generates noteworthy demand for various maintenance tools, which would bolster the commercial aircraft maintenance tooling market during the forecast period.
Key Market Segments
Based on tool type, the speed handle segment accounted for the largest share of the Middle East and Africa commercial aircraft maintenance tooling market in 2020. Based on users, the MRO service providers segment accounted for the largest share of the Middle East and Africa commercial aircraft maintenance tooling market in 2020. Based on application, the airframe segment accounted for the largest share of the Middle East and Africa commercial aircraft maintenance tooling market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Middle East and Africa commercial aircraft maintenance tooling market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include 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.
Reasons to buy report
Middle East and Africa Commercial Aircraft Maintenance Tooling Market Segmentation
Middle East and Africa Commercial Aircraft Maintenance Tooling Market – By Tool TypeMiddle East and Africa Commercial Aircraft Maintenance Tooling Market – By Country
Middle East and Africa Commercial Aircraft Maintenance Tooling Market – Company Profiles