Asia Pacific Commercial Aircraft Maintenance Tooling Market Opportunities by 2028

The Asia Pacific commercial aircraft maintenance tooling market is expected to grow from US$ 302.34 million in 2021 to US$ 459.50 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.

The number of aircraft fleets in commercial aviation has increased significantly over the years. Airlines and regional carriers with a fleet of ATR and Embraer Commercial have been procuring a noteworthy number of aircraft fleets over the past few years. A surge in the procurement of various commercial aircraft fleets has led to a substantial rise in the number of aircraft MRO shops or hangars in the region. The construction of new aircraft MRO hangars and MRO bays is directly proportional to the demand for various maintenance tools, which is one of the critical catalyzers of the commercial aircraft maintenance tooling market. In addition, the continuous investments by companies in the commercial aircraft MRO industry in the expansion of their existing MRO hangars with new bays fuel the commercial aircraft maintenance tooling market growth.

According to the International Air Transport Association’s (IATA) report published in June, Asia Pacific airlines faced the worst challenges. The Q4 of 2020 had been turbulent for the Asia Pacific aviation industry as Southeast Asia recorded exorbitant number of COVID-19 cases that forced lockdowns, hampering travel plans. Due to the massive spread of more contagious strains of the COVID-19, several nations such as Singapore, Thailand, Malaysia, and Vietnam have reimposed strict movement restrictions. This has severely affected the Southeast Asian airlines, and the future of some airlines is uncertain, which is subsequently hampering the adoption of new maintenance tools.

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific commercial aircraft maintenance tooling market. 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.

  Asia Pacific Commercial Aircraft Maintenance Tooling Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Commercial Aircraft Maintenance Tooling Market Segmentation

Asia Pacific Commercial Aircraft Maintenance Tooling Market – By Tool Type

• Speed Handle
• Wrenches
• Safety Wire Pliers
• Vibration Meters
• Metal Working Tools
• NDT Tools
• Others

Asia Pacific Commercial Aircraft Maintenance Tooling Market – By Users

• MRO Service Providers
• Airline Operator

Asia Pacific Commercial Aircraft Maintenance Tooling Market – By Application

• Engine
• Airframe
• Landing Gear
• Line Maintenance
• Others

Asia Pacific Commercial Aircraft Maintenance Tooling Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Asia Pacific Commercial Aircraft Maintenance Tooling Report Scope