Market Definition
Aircraft hangars are buildings or structures intended to hold spacecraft or aircraft and ensure their safety from adverse weather conditions or heists. Such hangars are often built using metal, wood, or concrete. These are often custom-made based on the type of aircraft, the purpose of the hangar along with its location and costs.
Market Insights
The Global Aircraft Hangar Equipment Market is projected to grow at a CAGR of around 4.6% during the forecast period, i.e., 2023-28. The market for aircraft hangars has attained a swift growth pace with the sudden surge in the number of airbuses worldwide. With the increased number of aircraft, the need to ensure their safety and storage has also arisen, which in turn, has enabled the production of hangar equipment like aircraft multi-purpose platform stand, aircraft maintenance access stand, tripod-jacks, axle-jacks, axle-jack hose pressure kit, among others, ramp up in recent years. The utility of these hangars in terms of building aircraft, storing and also repairing, if and when needed, has furthered the market expansion. Moreover, with substantial funding from government authorities, the Aircraft Support Industries (ASI) is likely to enthrall in the coming years. For instance,
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 4.6% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Rest of South America | |
| Europe: Germany, The UK, France, Russia, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific | |
| Middle East & Africa: Saudi Arabia, The UAE, Israel, Turkey, Rest of The Middle East & Africa | |
| Key Companies Profiled | JBT AeroTech, All Metal Maintenance Stands, Sagar Asia, AERO Specialties, Inc., CTI Systems S.à r.l., SafeSmart Aviation, Safe Structure Designs, LLC, HYDRO SYSTEMS KG, Tronair, Semmco Limited, Wilcox Bodies Ltd. |
| Unit Denominations | USD Million/Billion |
In addition, the rising number of air passengers in regions such as Europe, Asia-Pacific, the Middle East & Africa, etc., has been necessitating the requirement for new airports in order to meet the air traffic growth. According to the International Air Transport Association, the total traffic in March 2022 (measured in revenue passenger kilometers or RPKs) increased to 76.0% in comparison to March 2021. Moreover, due to the growing number of air passengers in the countries such as India, Vietnam, China, etc., the airport authorities in the respective countries are strengthening their air passenger handling capacities by expanding runways, developing new airports, enhancing aircraft fleet sizes, etc. As a result, the design and construction of hangars have been uplifted to cater to the growing capacities of the airport. For instance,
Key Trends in the Market
Inflatable aspect have gained traction in recent years predominantly due to their ability to get built in a shorter time compared to traditionally constructed aircraft barracks. Another factor backing such inclination demonstrated by the airport facilities is the lesser cost of installation associated with it. Moreover, the solidifying airport initiatives in developing countries further amplifies the demand for such advanced aircraft barracks. The ability to withstand adverse weather conditions alongside being sustainable has led to an increase in its installation. The integration of inflatable technology and technical textiles has paved the way for the utilization of inflatable hangars in all kinds of aircraft, from commercial, military, drones, and private jets to general aviation aircraft. For instance,
Market Segmentation
Based on Aircraft Type,
Between the two, Military aircraft acquired a noticeable market growth in the historical period. It owes principally to the escalating geopolitical tension worldwide, such as the ongoing Russia-Ukraine War and the land dispute between the nations such as China, India, Pakistan, Greece, Turkey, etc. The increased agreements between the governments of several countries for the purchase of military aircraft in order to boost their military base have fostered the demand for aircraft maintenance facilities like hangars worldwide. Further, the increasing sales of fighter jets, cargo jets, etc., worldwide due to rising warfare tensions would likely require hangars for maintenance, repair, etc. These aspects are predicted to soar the demand for aircraft hangar equipment in the forecast years.
Based on Equipment Type,
The types of equipment, such as aircraft maintenance access stand, fuselage shelter, washstand, and aircraft multi-purpose platform stand, among others, witnessed notable growth in the historical years. The diversified functionality of the aircraft's multi-purpose platform stand has made it one of the most desirable hangar equipment. The aircraft multi-purpose platform stand has been used for a variety of applications in hangars, such as static port inspections or replacements, pitot probe tube inspections or replacements, trailing edge actuator inspections, etc. Key features of the dedicated hangar include temperature and humidity control, optimization of hangar volume followed by energy consumption, and environment friendly via regulated waste management and air emissions. Therefore, the demand for aircraft hangar equipment is likely to augment in the forthcoming years owing to their broad range of applications relating to aircraft maintenance at hangars.
Regional Projection
Geographically, the Global Aircraft Hangar Equipment Market expands across:
Of them all, North America holds a sizable market share in the historical period and is foreseen to prevail in the same trend in the coming years. This growth primarily attributes to the substantial presence of renowned enterprises, the large influx of funds by the government relating to airport renovation activities, and the expansion of airports across the region. Skyservice Business Aviation, a North American aviation company, acquired a heavy-body aircraft hangar and an office facility from Bombardier in Montréal, Canada. The project is expected to fold the company’s presence at Montréal-Trudeau International Airport (YUL) in Canada. The growing number of commercial aircraft orders in countries like the USA and Canada is likely to push the aircraft hangar market forward during the forecast period. Besides, the mounting need for relocatable and energy-efficient fabric aircraft hangars is anticipated to drive the market across the region. The modernization of aircraft fleets and airports, rise in commercial aviation & increasing fleet capacity, and rising procurement of new aircraft elevated the demand for fixed-installed aircraft hangars and, in turn, fostered market expansion.
Recent Developments in the Global Aircraft Hangar Equipment Market
Market Dynamics
Key Driver: Strengthening Airports Expansion Worldwide
The Global Aircraft Hangar Equipment market saw a considerable rise in the historical years, owing to the construction of new airports in different regions such as the Middle East & Africa, South-East Asia, etc. Besides, the rapid downpour of air passengers worldwide and the urge to connect tourist destinations also calls for more new airports. As such, new airports would automatically require new hangars to sustain the aircraft fleets for maintenance, repair, and overhaul purposes, thereby driving the demand for hangar equipment during the forecast period. For instance,
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Aircraft Hangar Equipment Market is projected to grow at a CAGR of around 4.6% during 2023-28.
A. Strengthening airport expansion worldwide is anticipated to drive the Aircraft Hangar Equipment Market during 2023-28.
A. The top market players are JBT AeroTech, All Metal Maintenance Stands, Sagar Asia, AERO Specialties, Inc., CTI Systems S.à r.l., SafeSmart Aviation, Safe Structure Designs, LLC, HYDRO SYSTEMS KG, Tronair, Semmco Limited, Wilcox Bodies Ltd, Others.
A. Military Aircraft is anticipated to emerge as an area of remunerative opportunities for the leading players in the Aircraft Hangar Equipment Market during the forecast period.
A. Globally, North America would provide lucrative prospects for the Aircraft Hangar Equipment Market in the years ahead.
A. The growing propensity for inflatable hangars across developing countries is shaping the growth of the Aircraft Hangar Equipment Market during 2023-28.
