PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250753
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250753
Aircraft Hangar Market Forecasts to 2028 - Global Analysis By Type (Storage, Assembly and MRO), Construction (Portable and Fixed), Platform (Military and Commercial), Aircraft and By Geography
According to Stratistics MRC, the Global Aircraft Hangar Market is accounted for $750.80 million in 2022 and is expected to reach $1114.17 million by 2028 growing at a CAGR of 6.8% during the forecast period. An aircraft hangar is a closed structure made of metal, wood, and concrete that houses a plane. Weather protection, repair and maintenance, production, assembly, and storage of aircraft and aircraft carriers are all done in hangars. Hangars for planes are commonly referred to as "glorified garages." These can range from simple "shade" structures that protect the aircraft from the elements to complicated environmental-controlled repair facilities where robots apply radar blocking coatings. Nonetheless, because planes are designed to fly, it is vital to limit maintenance time in the hangar to a minimum and optimise their availability to fly.
According to data from the Center of Aviation (CAPA), there are about 633 airport modernization projects at existing airports globally and the approximate aggregate investment value of these projects is expected to be USD 565.7 Billion.
Market Dynamics:
Driver:
Rise in the construction of airports
The rise in the development of airports is a major element driving the worldwide aeroplane hangar market share growth. The fundamental reason for the increase in the number of air passengers is the economic expansion of rising countries such as India, China, and Indonesia. The increased number of international travellers has led in a spike in investments in new airport building and upgrades. As a result, the expansion of tourism would need the development of aircraft hangars at airports. Airport authorities throughout the world are constructing enormous hangars to accommodate large planes such as Airbus.
Restraint:
Large capital expenditure and funding required for longer time periods
Hangar projects are generally a part of airport modernization or development projects. Some airport developments take 6 to 9 years to complete. The FAA must approve new airport buildings or changes to existing airport buildings. According to building permits, such hangars must be built in line with city construction codes. These airport projects also require high capital investment and get constructed and completed in phases. Delays in funding or regulatory approvals cause resulting delays in hangar projects due to its dependence on approvals and funding.
Opportunity:
Increasing demand for inflatable, portable hangars
The expanding airport projects in emerging countries are pushing the demand for innovative Hangars that can be created in a shorter time compared to traditionally constructed hangars. Such hangars also result in lower installation costs. With advancements in inflatable technology and the use of technological textiles, inflatable hangars have found usage for various types of aircraft, including commercial, military, drones, private jets, and general aviation aircraft. These hangars are long-lasting and weather-resistant. The market's top companies and major airports across the world are focusing on innovative solutions, which has helped to promote a creative atmosphere for the development of cost-effective initiatives to be pushed out across the worldwide network.
Threat:
Design and construction-related concerns
The rise in design and construction-related constraints will be a major hurdle for global aeroplane hangar market share growth over the projection period. Due to the installation of a large number of new technology, decreased project schedules, and increased regulatory criteria, modern hangars are complicated. There are numerous essential design and critical construction elements that are critical for the delivery of hangar projects. All of these design and construction issues have a direct impact on the entire project time and cost incurred by airline and airport authorities. Such factors are projected to restrain the growth of the global aeroplane hangar market during the forecast period.
Covid-19 Impact
The COVID-19 pandemic and its related restrictions damaged the aviation industry's supply chain and made it difficult to build new hangars in many areas. This had a severe impact on the aviation industry and slowed airport construction initiatives. Companies felt the effects of the COVID-19 epidemic in the worldwide economic downturn and political instability. Falling consumer confidence and customer spending had an adverse impact on the market, harming the stability of the credit and financial markets. The COVID-19 outbreak caused in travel bans and construction halts in various nations, reducing prospects for hangar development.
The MRO segment is expected to be the largest during the forecast period
The MRO segment is estimated to have a lucrative growth, as aviation safety and maintenance operations become more critical. In 2021, the MRO segment owned the largest proportion of the aircraft hangar market. It also has the fastest rate of expansion. The construction of new greenfield airports, increased aviation sector spending, and the rapid speed of technology advancement in developing countries such as China and India are all contributing to the market's growth.
The fixed segment is expected to have the highest CAGR during the forecast period
The fixed segment is anticipated to witness the fastest CAGR growth during the forecast period Because most traditional hangars associated to airports are of fixed structure. Commercial aviation growth, upgrading of aircraft fleets and airports, increased fleet capacity, and increased procurement of new aircraft are just a few of the causes driving demand for fixed-installed aircraft hangars. The developing economies of Asia Pacific will enhance infrastructure investment and capital spending, boosting the segment's growth.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to the surge in investment in new airport building. The increase in demand for air travel, as well as the increase in the number of greenfield projects in the region, are likely to fuel the aircraft hangar market expansion. Simultaneously, the region's expanding need for commercial aeroplanes will contribute to growth. According to the Indian Civil Aviation Department, by 2027, India would have approximately 1200 aircraft and 400 million passengers. Airport infrastructure, including aircraft hangars, will need to be updated to meet the increased passenger demand. This will fuel market growth in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. This expansion is mostly due to the presence of well-known businesses, the massive influx of funding by the government for airport rehabilitation activities, and the expansion of airports throughout the region. Skyservice Business Aviation, a North American aviation corporation, acquired a heavy-body aircraft hangar and an office space from Bombardier in Montreal, Canada. The project is expected to consolidate the company's position at Montreal-Trudeau International Airport (YUL) in Canada. The increasing number of commercial aircraft orders in nations such as the United States and Canada are expected to propel the aeroplane hangar market forward throughout the forecast period.
Key Players in the market
Some of the key players profiled in the Aircraft Hangar Market include JOHN REID & SONS (STRUCSTEEL) LTD, Alaska Structures, HTS tentiQ, J&M Steel Solutions, Diuk Arches, Rubb Buildings Ltd, Big Top Manufacturing, BlueScope Buildings North America, Inc., Fulfab, Erect-A-Tube, Inc, AECOM, Harper Construction, J B Roche Ltd and TMG construction Corporation
Key Developments:
In September 2021, Harper Construction has been awarded a contract worth USD 101 million by the US department of defense to design and construct a F 35 C hangar at Lemoore, California.
In June 2021, Winchester regional airport authority established partnership with TMG Construction Corporation for construction of 32 private aircraft hangars.
Types Covered:
- Storage
- Assembly
- MRO
Constructions Covered:
- Portable
- Fixed
Platforms Covered:
- Military
- Commercial
Aircrafts Covered:
- General Aviation
- Narrow Body
- Wide Body
- Helicopters
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Emerging Markets
- 3.7 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Aircraft Hangar Market, By Type
- 5.1 Introduction
- 5.2 Storage
- 5.3 Assembly
- 5.4 MRO
6 Global Aircraft Hangar Market, By Construction
- 6.1 Introduction
- 6.2 Portable
- 6.3 Fixed
7 Global Aircraft Hangar Market, By Platform
- 7.1 Introduction
- 7.2 Military
- 7.3 Commercial
8 Global Aircraft Hangar Market, By Aircraft
- 8.1 Introduction
- 8.2 General Aviation
- 8.3 Narrow Body
- 8.4 Wide Body
- 8.5 Helicopters
9 Global Aircraft Hangar Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 JOHN REID & SONS (STRUCSTEEL) LTD
- 11.2 Alaska Structures
- 11.3 HTS tentiQ
- 11.4 J&M Steel Solutions
- 11.5 Diuk Arches
- 11.6 Rubb Buildings Ltd
- 11.7 Big Top Manufacturing
- 11.8 BlueScope Buildings North America, Inc.
- 11.9 Fulfab
- 11.10 Erect-A-Tube, Inc
- 11.11 AECOM
- 11.12 Harper Construction
- 11.13 J B Roche Ltd
- 11.14 TMG construction Corporation
List of Tables
- Table 1 Global Aircraft Hangar Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Aircraft Hangar Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Aircraft Hangar Market Outlook, By Storage (2020-2028) ($MN)
- Table 4 Global Aircraft Hangar Market Outlook, By Assembly (2020-2028) ($MN)
- Table 5 Global Aircraft Hangar Market Outlook, By MRO (2020-2028) ($MN)
- Table 6 Global Aircraft Hangar Market Outlook, By Construction (2020-2028) ($MN)
- Table 7 Global Aircraft Hangar Market Outlook, By Portable (2020-2028) ($MN)
- Table 8 Global Aircraft Hangar Market Outlook, By Fixed (2020-2028) ($MN)
- Table 9 Global Aircraft Hangar Market Outlook, By Platform (2020-2028) ($MN)
- Table 10 Global Aircraft Hangar Market Outlook, By Military (2020-2028) ($MN)
- Table 11 Global Aircraft Hangar Market Outlook, By Commercial (2020-2028) ($MN)
- Table 12 Global Aircraft Hangar Market Outlook, By Aircraft (2020-2028) ($MN)
- Table 13 Global Aircraft Hangar Market Outlook, By General Aviation (2020-2028) ($MN)
- Table 14 Global Aircraft Hangar Market Outlook, By Narrow Body (2020-2028) ($MN)
- Table 15 Global Aircraft Hangar Market Outlook, By Wide Body (2020-2028) ($MN)
- Table 16 Global Aircraft Hangar Market Outlook, By Helicopters (2020-2028) ($MN)
- Table 17 North America Aircraft Hangar Market Outlook, By Country (2020-2028) ($MN)
- Table 18 North America Aircraft Hangar Market Outlook, By Type (2020-2028) ($MN)
- Table 19 North America Aircraft Hangar Market Outlook, By Storage (2020-2028) ($MN)
- Table 20 North America Aircraft Hangar Market Outlook, By Assembly (2020-2028) ($MN)
- Table 21 North America Aircraft Hangar Market Outlook, By MRO (2020-2028) ($MN)
- Table 22 North America Aircraft Hangar Market Outlook, By Construction (2020-2028) ($MN)
- Table 23 North America Aircraft Hangar Market Outlook, By Portable (2020-2028) ($MN)
- Table 24 North America Aircraft Hangar Market Outlook, By Fixed (2020-2028) ($MN)
- Table 25 North America Aircraft Hangar Market Outlook, By Platform (2020-2028) ($MN)
- Table 26 North America Aircraft Hangar Market Outlook, By Military (2020-2028) ($MN)
- Table 27 North America Aircraft Hangar Market Outlook, By Commercial (2020-2028) ($MN)
- Table 28 North America Aircraft Hangar Market Outlook, By Aircraft (2020-2028) ($MN)
- Table 29 North America Aircraft Hangar Market Outlook, By General Aviation (2020-2028) ($MN)
- Table 30 North America Aircraft Hangar Market Outlook, By Narrow Body (2020-2028) ($MN)
- Table 31 North America Aircraft Hangar Market Outlook, By Wide Body (2020-2028) ($MN)
- Table 32 North America Aircraft Hangar Market Outlook, By Helicopters (2020-2028) ($MN)
- Table 33 Europe Aircraft Hangar Market Outlook, By Country (2020-2028) ($MN)
- Table 34 Europe Aircraft Hangar Market Outlook, By Type (2020-2028) ($MN)
- Table 35 Europe Aircraft Hangar Market Outlook, By Storage (2020-2028) ($MN)
- Table 36 Europe Aircraft Hangar Market Outlook, By Assembly (2020-2028) ($MN)
- Table 37 Europe Aircraft Hangar Market Outlook, By MRO (2020-2028) ($MN)
- Table 38 Europe Aircraft Hangar Market Outlook, By Construction (2020-2028) ($MN)
- Table 39 Europe Aircraft Hangar Market Outlook, By Portable (2020-2028) ($MN)
- Table 40 Europe Aircraft Hangar Market Outlook, By Fixed (2020-2028) ($MN)
- Table 41 Europe Aircraft Hangar Market Outlook, By Platform (2020-2028) ($MN)
- Table 42 Europe Aircraft Hangar Market Outlook, By Military (2020-2028) ($MN)
- Table 43 Europe Aircraft Hangar Market Outlook, By Commercial (2020-2028) ($MN)
- Table 44 Europe Aircraft Hangar Market Outlook, By Aircraft (2020-2028) ($MN)
- Table 45 Europe Aircraft Hangar Market Outlook, By General Aviation (2020-2028) ($MN)
- Table 46 Europe Aircraft Hangar Market Outlook, By Narrow Body (2020-2028) ($MN)
- Table 47 Europe Aircraft Hangar Market Outlook, By Wide Body (2020-2028) ($MN)
- Table 48 Europe Aircraft Hangar Market Outlook, By Helicopters (2020-2028) ($MN)
- Table 49 Asia Pacific Aircraft Hangar Market Outlook, By Country (2020-2028) ($MN)
- Table 50 Asia Pacific Aircraft Hangar Market Outlook, By Type (2020-2028) ($MN)
- Table 51 Asia Pacific Aircraft Hangar Market Outlook, By Storage (2020-2028) ($MN)
- Table 52 Asia Pacific Aircraft Hangar Market Outlook, By Assembly (2020-2028) ($MN)
- Table 53 Asia Pacific Aircraft Hangar Market Outlook, By MRO (2020-2028) ($MN)
- Table 54 Asia Pacific Aircraft Hangar Market Outlook, By Construction (2020-2028) ($MN)
- Table 55 Asia Pacific Aircraft Hangar Market Outlook, By Portable (2020-2028) ($MN)
- Table 56 Asia Pacific Aircraft Hangar Market Outlook, By Fixed (2020-2028) ($MN)
- Table 57 Asia Pacific Aircraft Hangar Market Outlook, By Platform (2020-2028) ($MN)
- Table 58 Asia Pacific Aircraft Hangar Market Outlook, By Military (2020-2028) ($MN)
- Table 59 Asia Pacific Aircraft Hangar Market Outlook, By Commercial (2020-2028) ($MN)
- Table 60 Asia Pacific Aircraft Hangar Market Outlook, By Aircraft (2020-2028) ($MN)
- Table 61 Asia Pacific Aircraft Hangar Market Outlook, By General Aviation (2020-2028) ($MN)
- Table 62 Asia Pacific Aircraft Hangar Market Outlook, By Narrow Body (2020-2028) ($MN)
- Table 63 Asia Pacific Aircraft Hangar Market Outlook, By Wide Body (2020-2028) ($MN)
- Table 64 Asia Pacific Aircraft Hangar Market Outlook, By Helicopters (2020-2028) ($MN)
- Table 65 South America Aircraft Hangar Market Outlook, By Country (2020-2028) ($MN)
- Table 66 South America Aircraft Hangar Market Outlook, By Type (2020-2028) ($MN)
- Table 67 South America Aircraft Hangar Market Outlook, By Storage (2020-2028) ($MN)
- Table 68 South America Aircraft Hangar Market Outlook, By Assembly (2020-2028) ($MN)
- Table 69 South America Aircraft Hangar Market Outlook, By MRO (2020-2028) ($MN)
- Table 70 South America Aircraft Hangar Market Outlook, By Construction (2020-2028) ($MN)
- Table 71 South America Aircraft Hangar Market Outlook, By Portable (2020-2028) ($MN)
- Table 72 South America Aircraft Hangar Market Outlook, By Fixed (2020-2028) ($MN)
- Table 73 South America Aircraft Hangar Market Outlook, By Platform (2020-2028) ($MN)
- Table 74 South America Aircraft Hangar Market Outlook, By Military (2020-2028) ($MN)
- Table 75 South America Aircraft Hangar Market Outlook, By Commercial (2020-2028) ($MN)
- Table 76 South America Aircraft Hangar Market Outlook, By Aircraft (2020-2028) ($MN)
- Table 77 South America Aircraft Hangar Market Outlook, By General Aviation (2020-2028) ($MN)
- Table 78 South America Aircraft Hangar Market Outlook, By Narrow Body (2020-2028) ($MN)
- Table 79 South America Aircraft Hangar Market Outlook, By Wide Body (2020-2028) ($MN)
- Table 80 South America Aircraft Hangar Market Outlook, By Helicopters (2020-2028) ($MN)
- Table 81 Middle East & Africa Aircraft Hangar Market Outlook, By Country (2020-2028) ($MN)
- Table 82 Middle East & Africa Aircraft Hangar Market Outlook, By Type (2020-2028) ($MN)
- Table 83 Middle East & Africa Aircraft Hangar Market Outlook, By Storage (2020-2028) ($MN)
- Table 84 Middle East & Africa Aircraft Hangar Market Outlook, By Assembly (2020-2028) ($MN)
- Table 85 Middle East & Africa Aircraft Hangar Market Outlook, By MRO (2020-2028) ($MN)
- Table 86 Middle East & Africa Aircraft Hangar Market Outlook, By Construction (2020-2028) ($MN)
- Table 87 Middle East & Africa Aircraft Hangar Market Outlook, By Portable (2020-2028) ($MN)
- Table 88 Middle East & Africa Aircraft Hangar Market Outlook, By Fixed (2020-2028) ($MN)
- Table 89 Middle East & Africa Aircraft Hangar Market Outlook, By Platform (2020-2028) ($MN)
- Table 90 Middle East & Africa Aircraft Hangar Market Outlook, By Military (2020-2028) ($MN)
- Table 91 Middle East & Africa Aircraft Hangar Market Outlook, By Commercial (2020-2028) ($MN)
- Table 92 Middle East & Africa Aircraft Hangar Market Outlook, By Aircraft (2020-2028) ($MN)
- Table 93 Middle East & Africa Aircraft Hangar Market Outlook, By General Aviation (2020-2028) ($MN)
- Table 94 Middle East & Africa Aircraft Hangar Market Outlook, By Narrow Body (2020-2028) ($MN)
- Table 95 Middle East & Africa Aircraft Hangar Market Outlook, By Wide Body (2020-2028) ($MN)
- Table 96 Middle East & Africa Aircraft Hangar Market Outlook, By Helicopters (2020-2028) ($MN)
