‘Power by the Hour’ (PHB) programme was first introduced by Rolls-Royce in 1962 covering their Viper engines, for 125 business jets. Under such a contract the engine manufacturer committed to offer replacement and maintenance of the entire range of engine accessories, for a fixed rate per flight hour basis.
The PBH or engine maintenance programme concept arose out of the instance of low despatch reliability rate of classic turbine fan jet engines . However, even without the presence of bad engines in today’s day and age, for most part, Power by the Hour contracts are in vogue.
The above image from Global Market Insights (GMI) depicts the size of the Power by the Hour market across the globe, as also category-wise break up of spares and components, line maintenance items and engine components. According to the study, with base year as 2018, the market size was in excess of USD 20 billion globally. The CAGR growth estimation for the forecast period 2019 to 2025 is pegged at 6.3%. The projection for year 2025 is USD 30 Billion!