Aircraft Hangar Market to Worth USD 1,000.6 Million by 2029 | Fortune Business Insights™
According to Fortune Business Insights™, the global aircraft hangar market size is projected to reach USD 1,000.6 Million by 2029, at CAGR of 4.81% during forecast period 2022-2029
Pune, India, Dec. 05, 2022 (GLOBE NEWSWIRE) — The global aircraft hangar market size stood at USD 703.0 million in 2021. The market value is slated to rise from USD 720.3 million in 2022 to USD 1,000.6 million by 2029 at a CAGR of 4.81% during 2022-2029. Hangars can be either fixed or moveable in construction. As they are simple to install, take less time to set up, and are less expensive, inflatable portable hangars are becoming more and more popular. Fortune Business Insights™ presents this information in its report titled, “Global Aircraft Hangar Market, 2022-2028”.
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List of Key Market Players:
- AECOM Technology Corporation (U.S.)
- ClearSpan Fabric Structures Inc. (U.S.)
- Centrex Construction Inc. (U.S.)
- HTS Tentiq GmbH (Germany)
- Fulfab Inc. (U.S.)
- Buildair Ingeniería y Arquitectura S.A (Spain)
- Rubb Buildings Ltd (U.K.)
- Allied Steel buildings Inc. (U.S.)
- Strucsteel Ltd (U.K.)
- J B Roche Ltd (Ireland)
| Report Attribute | Details |
| Market Size in 2022 | USD 720.3 Million |
| 2029 Value Projection | USD 1,000.6 Million |
| Growth Rate | CAGR 4.81% 2022-2029 |
| Base Year | 2021 |
| Historical Data for | 2018 – 2020 |
| Forecast Period | 2022 – 2029 |
| Segments Covered | By Type, By Construction, and Aircraft |
| Growth Driver | Increasing Demand for Inflatable Hangars to Drive Growth of the Global Market |
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COVID-19 Impact –
Pandemic Disrupted the Aerospace Supply Chain, Hampering the Market Growth
Owing to travel limitations and a decline in demand as a result of global efforts to contain the virus, the pandemic caused a significant dip in aviation traffic. The market dynamics and aircraft hangar need in the aviation industry have both been significantly impacted by this. In addition, the pandemic and associated disruptions across aerospace supply chains created difficulties for manufacturers in building new hangars, denting the overall growth prospects of the market.
Segments –
By Type, MRO Segment to Capture Maximum Share During 2022-2029
In terms of type, the market is divided into assembly, storage, and MRO. MRO segment is anticipated to experience maximum growth owing to rise in aircraft safety and maintenance operations and stricter aerospace safety regulations.
By Construction, Fixed Segment to Experience Robust Demand Through 2029
Based on construction, the market is bifurcated into portable and fixed. It is predicted that the fixed segment, which held the maximum revenue share in 2021, will exhibit similar trends during the forecast period.
By Aircraft, Narrow Body Segment to Register Maximum Gains by 2029
Considering the aircraft, the market is segmented into narrow body, wide body, general aviation, and helicopters. The narrow body segment is estimated to dominate the market share during 2022-2029. The same can be attributed to increasing narrow body aircraft deliveries.
By Platform, Commercial Segment to Stand Prominent During 2022-2029
By platform, the market is bifurcated into military and commercial. The commercial segment registered maximum revenue share in 2021 and will continue to lead the global market through 2029.
Geographically, the market is classified into North America, Europe, Asia Pacific, and the Rest of the World
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Report Coverage-
The report provides a detailed analysis of the market, focusing on key aspects. Apart from that, the report provides insights into market trends and highlights key industry developments. In addition to the factors mentioned above, the report includes a number of other factors that have contributed to the market’s growth.
Drivers & Restraints –
Increasing Demand for Inflatable Hangars to Drive Growth of the Global Market
The difficulty in locating a hangar for emergency maintenance has increased the demand for inflatable hangars. Compared to a traditional hangar building, these hangars drastically save downtime. The demand for movable hangars has increased in recent years. These hangars are less expensive and need less time to set up than traditional hangars. The demand for inflatable hangars has increased with the development of technical textiles and high-performance materials. These hangars are made of lightweight, sturdy materials that can withstand extreme weather.
However, these airport projects are also quite expensive to build, and they are done in stages. As hangar projects need money and regulatory clearances, delays in either lead them to be delayed eventually, hampering the aircraft hangar market growth.
Regional Insights
North America Held a Revenue Share of USD 295.5 Million in 2021
In 2021, North America led the global aircraft hangar market share. The North American market, which had a value of USD 295.5 million in 2021, is anticipated to expand at a mediocre CAGR over the expected period. The expansion is credited to the presence of important players in the region, including AECOM, Allied Steel Buildings, Rubb Buildings, Clearspan Fabric Structures Inc., and others. The U.S. has the most airports across the globe; hence, in 2021, it owned a larger part of the hangar market share.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Aircraft Hangar Market
- Impact of COVID-19 Pandemic on Global Aircraft Hangar Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential Opportunities due to COVID-19 Outbreak
- Global Aircraft Hangar Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Type
- MRO
- Assembly
- Storage
- Market Analysis, Insights and Forecast – By Construction
- Fixed
- Portable
- Market Analysis, Insights and Forecast – By Aircraft
- Narrow Body
- Wide Body
- General Aviation
- Helicopter
- Market Analysis, Insights and Forecast – By Platform
- Commercial
- Military
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- Rest of the world
TOC Continued…!
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Competitive Landscape:
Innovative Projects and Innovations are Important to Players to Maintain their Market Position
Leading aircraft hangar manufacturers, including Clear Span Fabric Structures Inc., Centrex Construction Inc., and AECOM Technology Corporation dominate the market. For new developments, these players are primarily focused on forming agreements with the government and airport authorities.
Key Industry Development-
- August 2022 – Indigo increased its capacity for maintenance. At Bangalore International Airport, a brand-new maintenance hangar will be unveiled. The airport will be able to accommodate narrow-body aircraft and there will be just one bay for wide-body aircraft.
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