North America is leading the market with a valuation of USD 501.6 million in 2018: MRFR
Aerospace Engineering Services in Airlines MarketAerospace Engineering Services in Airlines Market Overview 
The global aerospace engineering services in airlines market is expected to reach USD 2,178.7 million by 2030 at a CAGR of 3.75% during the forecast period.
The growth of the global aerospace engineering services in airlines market can be attributed to the increase in passenger traffic and subsequent demand for new aircraft. Furthermore, the focus on decreasing carbon footprint through aircraft weight reduction is also expected to drive the market growth. However, high initial investment and issues associated with data management are expected to restrain the market growth during the forecast period.
Regional Analysis
The geographic analysis of the global aerospace engineering services in airlines market includes North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
North America was the largest market, with a valuation of USD 501.6 million in 2018. The US and Canada are the country-level markets in North America. The regional market value is expected to reach USD 745.3 million by 2030 at a 3.34% CAGR during the forecast period. This growth can be attributed to large-scale investments by airport authorities and airline operators towards enhancing security processes and the overall passenger experience that is expected to foster the regional market growth.
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Aerospace Engineering Services in Airlines Market Moreover, growing adoption of technology by various companies operating in the aerospace industry for improving operational efficiency and offering enhanced services to customers are expected to propel the global aerospace engineering services in airlines market growth in the North American region.
Europe accounted for the second-largest market share in 2018. The European market includes the UK, Germany, France, Italy, and the rest of Europe. The presence of prominent aircraft MRO providers, such as Lufthansa Technik AG and Air France Industries KLM Engineering & Maintenance, are driving the European market. In 2018, Air France Industries KLM Engineering & Maintenance partnered with Winding Tree to develop blockchain in the airline industry. Through utilizing blockchain technology, the companies aim at offering enhanced travel experience for customers. The regional aerospace engineering services in airlines market is expected to reach USD 553.6 million by 2030 at a CAGR of 3.51% during the forecast period.
Asia-Pacific was the third-largest market in 2018. The market includes China, India, Japan, South Korea, and the rest of Asia-Pacific. The regional market was valued at USD 310.3 million in 2018 and is expected to reach USD 551.0 million by 2030 at the highest CAGR of 4.89% during the forecast period. In Asia-Pacific, the market growth is significantly driven by the presence of companies such as HCL Technologies Limited, Tata Consultancy Services (TCS) Limited, and Thompson Aero Seating Limited are driving the market growth in the region. Increasing acquisitions undertaken by companies such as HCL Technologies Limited to gain market share is also expected to drive the market growth in the region.
For example, in 2016, HCL Technologies Limited acquired Butler America Aerospace, LLC, a provider of engineering, design services, and aftermarket engineering services to aerospace and defense customers in the US. Furthermore, the growing air passenger traffic in emerging economies, such as China and India, is propelling global aerospace engineering services in airlines market in Asia-Pacific.
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