The market for the reconditioning of civil aircraft engines in Italy has shown a general declining trend over the past decade, with a few fluctuations. From 2014 to 2017, there was an increase in the sold production value, peaking at 264.66 million Euros in 2017. However, post-2017 the values dipped consistently with some intermittent increases, resulting in a standing value of 222.42 million Euros in 2023. The year-on-year variation for 2023 is -1.19%. The compound annual growth rate (CAGR) over the past five years stands at -2.01%, indicating a negative trend in the market.
Looking forward, the forecast up to 2028 suggests a continued decline in the market, with the sold production value expected to decrease to 207.72 million Euros by 2028. The forecasted CAGR over the next five years is -1.02%. With a negative 5-year growth rate projected at -5%, the market is set to contract further.
Future trends to watch for:
- Technological advancements in engine reconditioning processes
- Changes in regulatory frameworks and their impact on market demand
- Potential economic factors affecting the aviation industry as a whole
- Environmental trends and the push for greener, more efficient engines
