Asia Pacific Aircraft Maintenance Tooling Market is expected to reach US$ 998.80 Mn by 2027

Speed Handle Segment to Dominate Asia Pacific Aircraft Maintenance Tooling Market during 2019–2027

According to The Insight Partners market research study on “Asia Pacific 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$ 998.90 Mn by 2027 from US$ 692.29 Mn in 2019. The market is estimated to grow at a CAGR of 4.8% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific aircraft maintenance tooling market along with the drivers and restraints pertaining to the market growth. Upsurge in the production rate of commercial aircraft and rise in the requirement of predictive, prescriptive, and condition-based maintenance of aircraft are the major factors driving the growth of the Asia Pacific aircraft maintenance tooling market. However, the stringent aviation compliance and regulations regarding aircraft maintenance tooling may hinder the growth of Asia Pacific aircraft maintenance tooling market.

The market for Asia Pacific 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. The safety wire pliers segment is expected to be the fastest growing segment over the forecast period. Based on users, the Asia Pacific aircraft maintenance tooling market is divided into MRO service providers and airline operators. In 2019, the MRO service providers segment held the largest share in Asia Pacific Aircraft maintenance tooling market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific aircraft maintenance tooling market has been facing difficulties and several countries have suffered heavily. India, Japan, China and Australia 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.

Norbar Torque Tools Ltd., PROTO, Shanghai kaviation Techology Co.,Ltd. and Hydro Systems KG are among the leading companies in the Asia Pacific 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 Asia Pacific Aircraft Maintenance Tooling Market as follows:

• Speed Handles
• Wrenches
• Safety Wire Pliers
• Vibration Meters
• Metalworking Tools
• Others

• MRO Service Providers
• Airline Operators

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