Power by the hour market is anticipated to grow at a significant CAGR of 6.0% during the forecast period. Power by the hour is a maintenance programme offered to aircraft operators by aircraft manufacturers, as well as aircraft engine and component suppliers. The programme is a collaboration between aircraft operators and component manufacturers. The component supplier or MRO service provider agrees to provide a certain amount of component/scheduled maintenance during the term of the agreement. The growing demand for fuel-efficient aircraft engines is driving the power by the hour market. The market’s major players are focused on delivering long-term engine maintenance contracts to airlines. However, Lack of skilled MRO maintenance professionals and high manufacturing costs of components and parts can restrain the market growth in the forecast timeframe.
The COVID-19 pandemic had disrupted the production and operations of various industries across the globe, which had drastically reduced the demand for power by the hour. The defence, aerospace and aviation industry halted their production and operation activities due to the COVID-19 pandemic. The global spread of the COVID-19, which has resulted in lockdown scenarios, has resulted in an unprecedented series of border closures. Furthermore, there has been a worldwide halt in commercial flights, resulting in a decrease in demand for aircraft parts such as power by the hour components. Therefore, the demand for power by the hour was adversely affected by the COVID-19 pandemic. As the COVID-19 situation normalizes, the power by the hour market started recovery as industrial operations were normalized after the recovery.
The global power by the hour market is segmented based on the components and platform. Based on the components, the market is sub-segmented into engine, landing gear and breaks, spare parts and, and others. Based on the platform, the market is sub-segmented into the commercial aviation, business jet, and commercial helicopters.
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Power by the Hour Market Segmentation
By Component
- Engine
- Landing Gear and Breaks
- Spare Parts and Components
- Airframes
- Others
By Platform
- Commercial Aviation
- Business Jet
- Commercial Helicopter
- Others
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Regional Analysis
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
Company Profiles
- AJW Group
- AAR Corp.
- AMECO
- Avtrade
- Air – France KLM
- Evergreen Aviation Technologies Corp.
- Guangzhou Aircraft Maintenance Engineering Co.,Ltd.
- General Electric Co.
- Honeywell International Inc.
- Hong Kong Aircraft Engineering Co. Ltd.
- Jet Support Services, Inc.
- JetSMART Airlines SpA
- SIA Engineering Co. Ltd.
- ST Engineering
- Turkish Technic Inc.
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