Docking System Market Projected to Reach $139.91 Billion by 2030 | With 11.6% CAGR
Key Companies covered in Docking System Market are Kawasaki Heavy Industries, Ltd. (Japan), NIJL Aircraft Docking (Netherlands), Semmco (U.K.), Fortal (France), Shanghai Ifly GSE Co., Ltd. (China), Airbus (Netherlands), Boeing (U.S.), Instant Upright (Irelands), CTI Systems S.A. (Luxembourg), Zarges (Germany) and more players profiled.
Docking System Market
Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) — The global docking system market size was valued at USD 56.45 million in 2022 and is expected to expand from USD 65.04 million in 2023 to USD 139.91 million by 2030, exhibiting a CAGR of 11.6% over the study period. The market expansion can be credited to the growing fleet of aircraft and maintenance needs. The docking system offers all necessary services to aircraft and helps ensure its safe parking.
Fortune Business Insights™ provides this information in its research report titled “Docking System Market, 2023-2030”.
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List of Key Players Profiled in the Docking System Market Report:
- Kawasaki Heavy Industries, Ltd. (Japan)
- NIJL Aircraft Docking (Netherlands)
- Semmco (U.K.)
- Fortal (France)
- Shanghai Ifly GSE Co., Ltd. (China)
- Airbus (Netherlands)
- Boeing (U.S.)
- Instant Upright (Irelands)
- CTI Systems S.A. (Luxembourg)
- Zarges (Germany)
Report Scope & Segmentation:
|2030 Value Projection||USD 139.91 Billion|
|Market Size in 2023||USD 65.04 Billion|
|No. of Pages||180|
|Report Coverage||Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends|
|Docking System Market Growth Drivers||Rise in Aircraft Fleet and Growth in New Airport Infrastructure to Drive the Market Growth|
|Rise in Air Travel and Number of Flights per Aircraft to Boost the Market Growth|
Browse Detailed Summary of Research Report with TOC:
Significant Overhauls in Engine Docks to Impel Segment Growth
Based on type, the market is divided into engine docks, wing docks, tail docks, fuselage docks, nose docks, and others. The engine docks segment is anticipated to account for the largest docking system market share during the forecast period. An engine needs to be cleaned, disassembled, and serviced after every 3,000 or more flight cycles based on the type. The engine docks are overhauled in a gap of every five years for less radical workshop visits. This factor is proliferating the segment growth.
Increase in Aircraft Fleet by Different Airlines to Accelerate Narrow Body Segment Growth
By aircraft type, the market is categorized into wide body, regional jet, narrow body, and others. The narrow body segment held the largest market share in 2022. The growth in aircraft fleets by different airlines is bolstering the segment growth.
Growth in Routine Maintenance Checks to Proliferate the MRO Segment Growth
On the basis of end user, the market is bifurcated into MRO and OEM. The MRO segment is poised to account for the largest market share during the forecast period. The surge in routine and scheduled maintenance checks is boosting the segment’s growth.
From the regional perspective, the market has been analyzed across the Asia Pacific, the Middle East & Africa, Latin America, North America, and Europe.
Reduction in Air Travel Hampered the Market Growth
The market witnessed a decline in the demand for aircraft manufacturing and maintenance due to decreased passenger air traffic and travel restrictions. The demand for line and unscheduled maintenance operations was also reduced due to the unavailability of aviation activity. Thus, these factors had a negative influence on the market.
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The docking system market report provides an in-depth analysis of the latest trends, driving, and restraining factors affecting the market growth. It further highlights the competitive landscape and the impact of COVID-19 on the market growth.
Drivers and Restraints:
Growing Number of Flights per Aircraft and Air Travels to Escalate the Market Growth
One of the major factors propelling the docking system market growth is the rising air travel and number of flights per aircraft. The growing demand for new aircraft production attributed to growth in air travel for personal use and business is accelerating the market growth.
Despite an expanding scope for the adoption of the product, the need for customization and the prohibitive cost related to product integration may impede the market growth.
North America to Dominate Owing to Surging Number of Aircrafts
North America market for docking system is anticipated to dominate during the forecast period. The growing number of aircraft and maintenance facilities in the region is impelling the market growth.
The Asia Pacific market for docking system is expected to grow at the highest CAGR during the forecast period, owing to the expanding aviation infrastructure in Japan, China, India, and others.
Prominent Companies Focus on Securing Contracts to Gain Competitive Edge
The key market players operating in the field are emphasizing different competitive strategies such as joint ventures, mergers and acquisitions, partnerships, and others. Several companies are also focusing on getting contracts to maximize their revenue.
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Detailed Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest Technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights – Impact of COVID-19 Pandemic on Global Docking System Market
- Global Docking System Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definition
- Market Analysis, Insights and Forecast – By Type
- Nose Docks
- Engine Docks
- Fuselage Docks
- Wing Docks
- Tail Docks
- Market Analysis, Insights and Forecast – By Aircraft Type
- Narrow Body
- Wide Body
- Regional Jet
- Market Analysis, Insights and Forecast – By End User
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Key Industry Development:
March 2023– Tata Advanced Systems Ltd (TASL) received a contract from Airbus for making cargo and bulk cargo doors for the A320neo aircraft family.
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