Aircraft Engineering Services (AES) Market Report Overview
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The global aircraft engineering services (AES) market size expanded rapidly in 2021, as per our research, the market is expected to generate substantial revenue by 2031, a robust CAGR during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the aircraft engineering services (AES) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
When discussing the many engineering and technical operations that go into the development, construction, inspection, and upkeep of aircraft, the term "aircraft engineering services (AES) is used. These services involve a wide range of tasks that guarantee the safe and effective functioning of airplanes. In general, the aviation industry's reliance on aerospace engineering services is essential for its effectiveness and safety.
The necessity for modernization and improvements of existing aircraft, as well as the growing emphasis on security and legislative compliance, are all contributing reasons to the growth of the market for aircraft engineering services (AES). Also, prospects for creativity and effectiveness in aviation technical services have been made possible by technological breakthroughs as well as the appearance of new substances and production techniques. The need for aircraft services is anticipated to rise as the international aviation sector continues to develop and thrive, fueling additional market expansion.
COVID-19 Impact: Severe Restrictions on Travel had a Significant Impact on the Aviation Sector
The market for aircraft engineering services (AES) has been significantly impacted by the COVID-19 epidemic. One of the sectors most severely impacted by the epidemic was the aviation sector, which saw severe restrictions on travel, decreased traffic volume, and supply chain disruptions. Both the number of new aircraft orders and the need for repair and maintenance services significantly decreased as a result of this. Many companies that offered engineering services have seen a reduction in income and earnings as a result, and they had been forced to apply cost-cutting strategies which involved cutbacks and layoffs. The market for aircraft engineering has been significantly impacted by COVID-19 overall, and it will likely take the sector some time to completely return to its pre-pandemic levels.
Latest Trends
"Growing Importance of Sustainability is Giving Rise to New Technologies and Methods"
The increasing emphasis on sustainability and environmental performance is one of the newest trends in the engineering services market. The need to cut emissions and boost fuel efficiency, as well as growing environmental awareness of the effects of aviation, are driving this trend. By creating new technologies and methods for designing, producing, and maintaining airplanes, such as the use of lighter materials, electric propulsion technologies, and predictive maintenance algorithms, aircraft service providers are responding to this trend. The market for airplane retrofitting services, which can modernize current aircraft and enhance their environmental efficiency, is also expanding. This pattern is anticipated to continue spurring innovation in the aircraft engineering services (AES) industry as airlines and other aviation stakeholders give sustainability an increasingly important consideration.
Aircraft Engineering Services (AES) Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Hardware, Software and Services
- By Application Analysis
Based on application, the market can be divided into Design & Engineering, Manufacturing Support, Security & Certification and After-market Services
Driving Factors
"Rising Need for New Aircraft Serves as a Major Driver for the Engineering Services Market"
The rising need for new aircraft serves as one of the major drivers of the aircraft engineering services (AES) market growth. The demand for air travel is rising in tandem with the expansion of the world economy, which has resulted in a substantial growth in the production of aircraft. In the upcoming years, it is anticipated that this trend will continue as airlines all over the world continue to replace their fleets with new, more effective aircraft.
"Growing Focus on Safety and Maintenance is Growing the Need for the Aircraft Services"
The increasing emphasis on safety and upkeep is another major factor driving the market for aircraft engineering services (AES). Airlines are rapidly turning to third-party engineering consulting suppliers to assist them in managing their service and repair activities due to the growing sophistication of aircraft systems and the requirement to retain excellent levels of dependability and safety. As a result, there is now a sizable market for businesses that offer engineering services for airplanes, as these businesses can offer the skills and know-how required to keep an aircraft in top working order.
Restraining Factors
"Expensive Nature of the Services is Hindering the Market Expansion"
The expensive nature of aircraft engineering services (AES) is one restraint on the market for those services. Airplane services call for highly qualified and experienced engineers, state-of-the-art facilities and equipment, and protracted testing and certification procedures. Due to this, the price of aviation engineering services may be out of reach for some clients, especially for smaller airlines and aircraft operators with tighter budgets. The COVID-19 epidemic has also had a major impact on the aviation sector, lowering demand for air travel and resulting in a decrease in earnings for airlines and other aviation participants. This has made it more difficult for some clients to invest in technical services for airplanes, which has made the cost problem worse.
Aircraft Engineering Services (AES) Market Regional Insights
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"Presence of Major Airlines and Airline Manufacturers are Driving the North American Market"
The aircraft engineering services (AES) market share was dominated by North America. This was caused by the region having a number of significant airlines and aircraft manufacturers, as well as a strong emphasis on innovation and technology. Also, the area is home to a sizable number of MRO (Maintenance, Repair, and Overhaul) service companies that provide a broad variety of aviation engineering services, such as design, testing, certification, and maintenance. The North American market for engineering services is significantly influenced by the United States in particular. Together with significant airlines notably Delta, United, and American, the nation is home to some of the biggest aircraft manufacturers in the world, including Boeing and Airbus. The market is expanding as a result of these businesses' high demand for engineering services.
Key Industry Players
"Key Players Focus on Alliances & Collaborations to Gain a Competitive Advantage"
The market participants for aircraft engineering services (AES) are utilizing a variety of tactics to expand their market share. To increase their capabilities, access new markets, and deliver more complete solutions to their clients, several providers of aircraft services are forging strategic alliances and collaborations with other aviation companies. As an illustration, some businesses collaborate with airlines to offer maintenance and repair services, while others work with digital firms to create new aviation technologies. A further requirement for maintaining competitiveness in the market for aviation engineering services is investment in research and development. Several businesses are making R&D investments to create new technologies, methods, and materials that will improve the performance, effectiveness, and safety of airplanes.
List of Market Players Profiled
- Aero Engineering Services France)
- BAE Systems (U.S.)
- JANA, Inc. (U.S.)
- Morson (U.K.)
- Mak-aviation.com (U.S.)
- JAS Aero-Engineering Services (Indonesia)
- STS Engineering Solutions (U.S.)
- AMTES GmbH (Germany)
Report Coverage
This report covers the aircraft engineering services (AES) market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.
Frequently Asked Questions
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Which region dominated the aircraft engineering services (AES) market?
North America dominated the aircraft engineering services (AES) market.
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Which are the driving factors of the aircraft engineering services (AES) market?
Rising need for new aircraft serves as a major driver for the engineering services market and growing focus on safety and maintenance is growing the need for the aircraft services are the driving factors of the aircraft engineering services (AES) market.
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Which are the top companies operating in the aircraft engineering services (AES) market?
Aero Engineering Services, BAE Systems, JANA, Inc., Morson and Mak-aviation.com are the top companies operating in the aircraft engineering services (AES) market.