According to the research report titled ‘Power by the Hour (PBH) Market Size By Component (Engine, Landing Gear & Brakes, Spare Parts & Components, Airframes), By Platform (Commercial Aviation, Business Jet, Commercial Helicopters), By Application (Line Maintenance, Heavy Maintenance), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global power by the hour (PBH) market valuation is projected to surpass USD 30 billion by the end of the forecast period 2019-2025.
 

As per the report findings, surging demand for fuel-efficient aircraft engines, coupled with technological advancements in artificial intelligence & augmented/virtual reality are stimulating worldwide power by the hour (PBH) market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2337485/
 

Moreover, factors such as increase in air traffic across Asia Pacific region, strict government regulations for maintenance of operational quality, and shift from product-oriented to service-oriented approach are also fueling overall industry remuneration.
 

On the downside, escalating production costs for parts & components, and lack of trained MRO (maintenance, repair, and operations) professionals are likely to impede market progression in the upcoming years.
 

Based on platform type, the market is classified into commercial aviation (narrow body & wide body aircraft), business jet, and commercial helicopter. Among these, wide body aircrafts segment is expected to witness substantial growth over the forecast period, owing to increasing customer demand for long-haul routes, and supportive government initiatives to boost trade & tourism sectors.
 

Moving on to application type, global power by the hour (PBH) industry is split into line maintenance, and heavy maintenance. Of these, heavy maintenance segment is expected to grow at a healthy rate over the assessment timeframe, due to surging initiatives for modification of existing aircraft fleets, launch of highly efficient engines, and rapid adoption of lightweight components.
 

From a regional frame of reference, Asia Pacific, Americas, Middle East & Africa, and Europe are deemed to be major contributors to industry remuneration. Among these, North America industry share is touted to bolster significantly over 2019-2025, primarily due to ongoing upgradation of existing aircraft fleets with advanced systems.
 

Prominent players in global power by the hour (PBH) market sphere are Rolls-Royce plc, Lufthansa Technik AG, Jet Support Services Inc. (JSSI), Honeywell International Inc., Hong Kong Aircraft Engineering Company Ltd. (HAECO), MTU Aero Engines AG, Guangzhou Aircraft Maintenance Engineering Co. Ltd., GE Aviation, Eftec UK Ltd., Evergreen Aviation Technologies Corp. (EGAT), AJ Walter Aviation Ltd., American Equipment Company Inc. (AEMCO), AFI KLM E&M (Air France-KLM Group), and AAR Corp. among others.