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Power by the Hour (PBH) Market Size
- Report ID: GMI4404
- Published Date: Oct 2019
- Report Format: PDF
Power by the Hour Market Size
Power by the Hour Market size exceeded USD 20 billion globally in 2018 and is estimated to grow at over 6% CAGR between 2019 and 2025.
Power by the Hour (PBH) is a maintenance program provided by aircraft manufacturers as well as aircraft engine & component providers to aircraft operators. The program acts as an insurance policy for the commercial airlines, air charter, and corporate jet operators for unscheduled aircraft maintenance. The program is an agreement between aircraft operators and component suppliers. Under this agreement, the component supplier or the MRO service provider agrees to provide a certain amount of component/ scheduled maintenance during the agreement time frame.
The industry has evolved with the changing requirements of aircraft operators over a period. The overall aviation industry is looking to cut down their operational cost by reducing maintenance and inventory management expenses. Rolls-Royce started the initial Power by the Hour program in 1962 for supporting Viper engines in 125 business jets. Under this program, the company offered the replacement & maintenance of complete engine accessories for a fixed cost per flight hour basis. Currently, there are various types of programs offered by MRO service providers, aircraft manufacturers, engine manufacturers, and component providers. The major components covered under this program are engine and land gear & brakes as these are the major components of the aircraft and require regular maintenance for smooth functioning. For instance, in August 2019, Air Canada signed a new contract with Rolls-Royce to provide Trent 700 engine for Airbus A330 aircraft fleet of the airlines. The airlines opted for the TotalCare Flex agreement, providing Trent 700 engines until the A330 fleet retires. The TotalCare Flex program is designed for the operators of mature engines and this program is best suited for airlines looking for the economic management of older aircraft engines.
| Report Attribute | Details |
|---|---|
| Base Year: | 2018 |
| Power by the Hour Market Size in 2018: | USD 20 Billion |
| Forecast Period: | 2019 to 2025 |
| Forecast Period 2019 to 2025 CAGR: | 6.3% |
| 2025 Value Projection: | USD 30 Billion |
| Historical Data for: | 2014 to 2018 |
| No. of Pages: | 260 |
| Tables, Charts & Figures: | 327 |
| Segments covered: | Component, Platform, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The expanding low-cost airline sector is fueling the demand for aircraft maintenance as most of the airlines outsource the maintenance service to third parties. Most of the service providers offer various types of programs as per customer requirements to cater to this demand. With the rising applications of digitalization in aircraft maintenance, the demand for economical maintenance programs will support the power by the hour market growth.
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Power by the Hour Market Scope
