Global Aviation Consulting Service Market: Introduction
Aviation consulting service providers are autonomous consultancy and technical software firms specialized in commercial and military aviation programs. The industry is powered by the desire of airline carriers to reduce operational costs as a consequence of fluctuating fuel rates and other financial variables.
Global Aviation Consulting Service Market: Dynamics
- Increasing demand for asset management
- Airlines are confronted with the difficulty of handling residual valuation threats for flights and aircraft, as well as ensuring the competitiveness and versatility of the fleet. This has helped the asset management sector to establish dominance over other service lines in the global aviation consultancy industry.
- Furthermore, the growing need for asset management services is attributed to the assumption that aircraft prices are subject to business cycles and global volatility.
- Aviation experts evaluate the ownership and finance process that airline operators can use for each aircraft shipment to reduce risks, size, generate revenue, and improve aircraft asset management. Such challenges faced by airlines are projected to boost the aviation consulting services business throughout the forecast period.
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North America Led the Global Market in 2019
- Based on region, the global aviation consulting service market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America held a dominant share of the global aviation consulting service market in 2019. It is expected to continue its dominance throughout the forecast period. The U.S. and Canada are the major countries that drive the aviation consulting service market in this region. The presence of major aircraft suppliers, airlines, and aircraft operators has contributed to a growing need for successful methods, including inventory control, consultancy, and remarketing. Moreover, it is becoming extremely difficult to sustain demand with rising capital costs due to declining sales on account of a slowing economy. It has culminated in airline carriers and suppliers hiring experts to fix operating challenges and to identify effective solutions.
- The aviation consulting service market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period. India, China, Japan, and Australia are major countries of the aviation consulting service market in the region.
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Key Players Operating in the Global Aviation Consulting Service Market
Key players operating in the global aviation consulting service market are listed below:
- AeroLogistix.
- Emerald Aviation Inc.
- Mott MacDonald.
- Airline Tariff Publishing Company
- Ramboll Group A/S.
- IBM Services
- Black & Veatch
- Alton Aviation Consultancy
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