Strategic Assessment of Aerospace Aftermarket to grow at a CAGR of 3.87% from 2020 to 2030
The strategic assessment of aerospace aftermarket provides detailed market information for segmentation on the basis of type, aircraft class, industry, and region.
By: BIS Research
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The complex structure of various aircraft components such as engines, airframes, systems, and related components leads to adoption of maintenance, repair, and overhaul (MRO) services for inspection and maintenance. Further, implementation of safety regulation by Civil Aviation Authorities (CAA) in various regions also make necessary upgrades of different aircraft components and parts, driving more revenue growth for aerospace aftermarket.
According to Colins Aerospace, everyday hundreds-of-
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The prominent players in the aerospace aftermarket adopted strategies of facility expansion, service launches, contracts, and partnerships, and collaborations to expand their businesses. The companies are also involved in some of the other developments that include acquisition, certifications from the government to set up their facilities or introduction of new services, and investment to develop advanced systems for aircraft. Due to the intensive competition, the aerospace aftermarket requires MROs and OEMs to constantly provide cost-effective service solutions with the existing and forthcoming industry standards pertaining to the commercial and military industry.
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