The North America aircraft hangar market is fragmented, consisting of many North America players. These companies produce competitive prices, various types of solutions, and innovative products with services across the globe. Suppliers and manufacturers offer products and services with different solutions and features for all budgets due to the presence of the players at regional and international levels. Growth in the commercial aviation sector is majorly driving the North America aircraft hangar software market. Moreover, growth in safety regulations and quality standards is further driving the market. However, the high initial investment associated with aircraft hangars is expected to restrain the market growth. Furthermore, cost and financing are expected to challenge the market growth. However, airport expansion and modernization are expected to provide lucrative opportunities for market growth.
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Data Bridge Market Research analyses that the North America Aircraft Hangar Market is expected to reach USD 376,377.29 thousand by 2030 from USD 248,542.57 thousand in 2023, growing with a substantial CAGR of 5.5% in the forecast period of 2023 to 2030.
Key Findings of the Study
Increase in Defense Budgets across the Globe
A defense budget is the allocation of financial resources by a nation's government for military purposes. It represents the total amount of money designated to fund defense-related activities, including the acquisition of military equipment, personnel salaries, research and development, infrastructure, and other defense-related expenditures. A country's defense budget plays a crucial role in ensuring national security, sovereignty, and the ability to respond to potential threats. Adequate funding enables the development and maintenance of armed forces capable of safeguarding territorial integrity and responding effectively to potential aggressors. Moreover, a well-funded defense budget acts as a deterrent against potential adversaries. The existence of a formidable military capability can discourage hostile actions, contributing to regional and the North America stability. This surge in defense spending is expected to have a direct positive impact on the market, which is expected to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 – 2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Maintenance, Repair, and Overhaul (MRO), Assembly, and Storage), Construction (Fixed and Portable), Aircraft (Wide Body, Narrow Body, Jets, Helicopters, and Others), Component (Aircraft Hangar Canopy, Aircraft Hangar Doors, Aircraft Hangar Ventilation, Aircraft Hangar Lighting, Aircraft Hangar Flooring, and Others), Platform (Commercial, Military, and Others), Material (Steel, Concrete, Fabric, and Others)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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AECOM (U.S.), PFEIFER GROUP (U.S.), FulFab Inc. (U.S.), BlueScope Building Inc. (U.S.), The Korte Company (U.S.), HTS TENTIQ GmbH (Germany), Rubb Buildings Ltd (U.S.), Banyan Air Service (U.S.), ALASKA STRUCTURES (Canada), Sunbelt Temporary Structure (U.S.), Nucor Building Systems, (U.S.), JOHN REID AND SONS STRUCSTEEL LTD (India), Allied builders (U.S.), LEGACY BUILDING SOLUTIONS (U.S.), ERECT-A-TUBE, INC (U.S.), Premier Building Systems, Inc (U.S.), ClearSpan Fabric Structures, Inc. (U.S.), SML Group (U.S.), and Diuk Arches (U.S.), among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis
The North America aircraft hangar market is segmented into six notable segments which are based on the type, construction, material, aircraft, component, and platform.
- On the basis of type, the market is segmented into Maintenance, Repair, and Overhaul (MRO), assembly, and storage
In 2023, the Maintenance, Repair, and Overhaul (MRO) segment is expected to dominate the North America aircraft hangar market
In 2023, the Maintenance, Repair, and Overhaul (MRO) segment is expected to dominate the market with 58.47% market share due to the importance to ensure the safety, airworthiness, and reliability of aircraft
- On the basis of construction, the market is segmented into fixed and portable
In 2023, the fixed segment is expected to dominate the North America aircraft hangar market
In 2023, the fixed segment is expected to dominate the market with 84.63% share due to cost-effectiveness and efficiency in construction
- On the basis of aircraft, the market is segmented into wide body, narrow body, jets, helicopters and others. In 2023, the wide body segment is expected to dominate the market with 46.39% market share
- On the basis of component, the market is segmented into aircraft hangar canopy, aircraft hangar doors, aircraft hangar ventilation, aircraft hangar lighting, aircraft hangar flooring, and others. In 2023, aircraft hangar canopy is expected to dominate the market with 44.22% market share
- On the basis of platform, the market is segmented into commercial, military, and others. In 2023, the commercial segment is expected to dominate the market with 52.61% market share
- On the basis of material, the market is segmented into steel, concrete, fabric, and others. In 2023, the steel segment is expected to dominate the market with 55.40% market share
Major Players
Data Bridge Market Research analyzes AECOM (U.S.), PFEIFER GROUP (U.S.), JOHN REID AND SONS STRUCSTEEL LTD (India), FulFab Inc. (U.S.), and BlueScope Building Inc. (U.S.) as the major players in the North America aircraft hangar market.
Market Developments
- In June 2023, PFEIFER GROUP was a partner of the "Coalition for Timber Construction," an initiative for sustainable building with wood that aimed to promote wooden buildings as the first choice for construction projects across the board. The coalition served as a knowledge provider for the real estate industry and political discourse, advocating for timber construction's advantages in sustainability and climate protection. It was founded in 2021.
- In June 2023, BlueScope Construction, Inc. has successfully conducted the Buildings of the Future North America accelerator, collaborating with BlueScopeX, the ventures arm of BlueScope Steel, to foster innovation in the construction industry. The accelerator resulted in five pilot programs with innovative startups, including GigBridge, a U.K.-based SaaS platform addressing the challenge of finding skilled labor in the construction industry. This initiative showcases BlueScope Construction's commitment to leveraging cutting-edge technologies and solutions, such as AI-powered workplace safety, AI-enabled digital twin for defect prediction in steel production, supply chain-focused SaaS platform and solar energy solution
- In December 2022, JOHN REID & SONS (STRUCSTEEL) LTD got recognition for its outstanding contributions to the North America aircraft hangar market. Their collaboration with the main contractor Civils Contracting Ltd on the dual-cantilever hangar at London Biggin Hill Airport and Bombardier's official opening showcases their expertise in designing, fabricating, and installing complete steel frames and hangar elements
- In July 2022, ALASKA STRUCTURES underwent a strategic renaming and restructuring program, becoming AKS Industries, Inc., and introducing three new corporate divisions: Alaska Defense, Alaska Structures, and BLU-MED Response Systems. This move reflected the company's significant growth, expanded product offerings, and in-house manufacturing capabilities, allowing AKS Industries to offer both soft- and hard-wall building solutions and seamlessly integrate containerized buildings into their product lineup. The strategic renaming and restructuring program marked a significant milestone in AKS Industries' history, allowing the company to align its brand and divisions with its expanded product lines and manufacturing capabilities
- In October 2021, Banyan Air Service announced that the Banyan/Sheltair Complex at Fort Lauderdale Executive Airport has seen substantial demand, with its Banyan North hangars, offering 180,000 sq. ft. of new hangar space, reaching an impressive 85% occupancy within just 14 months of operation. The recent additions of three flight departments, housing Gulfstream IV, Falcon 900, Challenger 604, and Learjet 60 aircraft, have further boosted Banyan North's success, with Hangar H now at full capacity
Regional Analysis
Geographically, the countries covered in the North America aircraft hangar market report are U.S., Canada, and Mexico.
As per Data Bridge Market Research analysis:
U.S. is the dominant and fastest-growing country in the North America aircraft hangar market
The U.S. is expected to dominate the North America aircraft hangar market as it has one of the largest and most developed aviation industries. The region boasts numerous major airlines, cargo carriers, private aviation operators, and military aviation units, all of which require expensive aircraft hangars to house their fleets and conduct maintenance and repair activities.
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