The global power by the hour market is anticipated to grow at a considerable CAGR of 6.0% during the forecast period (2021-2027). Growing demand for rotable components in aircraft spares inventory will propel the market growth. The engine, landing gear and brakes, spare parts, and airframes are the core elements covered in the power by the hour. Spare elements are projected to grow significantly during the forecast period due to increased demand for inventory management for rotable components globally. Spare parts and material suppliers provide aircraft operators with a complete inventory management solution, together with logistics, part credentials, and other documentation. For instance, in February 2021, AvAir signed an agreement to acquire the surplus stock of independent MRO Solutions Company Sabena technics. AvAir will obtain multiple consumables and expendables, including both airframes as well as component surplus supplies, under the terms of the agreement. All of the procured inventory, which can be used for heavy maintenance on aircraft including the Airbus family, ATR, and C130, will be available to AvAir’s customer base.
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Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
· By Component
· By Platform
• Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
• Competitive Landscape– Lufthansa Technik AG, MTU Aero Engines AG, Rolls – Royce Plc, Raytheon Technologies Corp., Textron Inc., AAR Corp., Avtrade, Evergreen Aviation Technologies Corp., Hong Kong Aircraft Engineering Co. Ltd., JetSMART Airlines SpA, SIA Engineering Co. Ltd. and others.
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Global Power by the Hour Market Report by Segment
By Component
• Engine
• Landing Gear and Breaks
• Spare Parts and Components
• Airframes
• Others
By Platform
• Commercial Aviation
• Business Jet
• Commercial Helicopter
• Others
Global Power by the Hour Market Report by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
· Latin America
· Middle East & Africa
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