Aircraft MRO Market Information Report By Aircraft Type (Narrow-body, Wide-body and Others), By MRO Type (Engine, Component, Line Maintenance, Airframe and Modifications), By Application (Commercial Air Transport, Business and General Aviation and Military Aviation) - Forecast 2027

ID: VPR/A&D/1157 Publishing Year: January 2022 Pages: 119 Format:   


Aircraft MRO Market Overview:

Airlines spend a significant amount of money on MRO activities each year in order to comply with the tight regulations imposed by airworthiness authorities in order to protect the safety of passengers and crew. This accounts for a sizable amount of their total operating costs. MRO service was a relatively untouched sector for OEMs like as Boeing, Airbus, Bombardier, and others until a few years ago, despite considerable understanding of the market and process. However, these OEMs are increasingly becoming more engaged in the MRO sector, focusing on new technologies such as aviation maintenance software, which is predicted to greatly boost the MRO landscape over the projection period.

Due to an increase in aircraft modernization, environmental concerns, and norms and rules for the retirement of older fleets, various engine research initiatives are likely to gain traction. The majority of engine manufacturers concentrate on building fuel-efficient and cost-effective engines for new fleets. The use of refurbished and used parts in engine and non-engine maintenance is one of the most important trends in this sector. The growth in the retirement of older planes around the world is expected to quadruple demand for used aeroplane parts over the next decade.

Key Players

  • Airbus Group
  • Air France KLM Engineering & Maintenance, Air Works
  • Delta TechOps
  • HAECO
  • Honeywell International
  • GMF AeroAsia
  • Jet Maintenance Solutions
  • ST Aerospace
  • GE Aviation
  • Rolls-Royce
  • Pratt & Whitney
  • Lufthansa Technik
  • Safran Aircraft Engines:

Market Drivers:

In recent years, many new MRO support centres have been created in numerous countries. Increased criteria for proper aircraft service and refurbishing to maintain peak performance and meet demanding regulatory specifications will boost MRO commercial aircraft's market share. Technology advancements, combined with the need to address product wear and tear, will significantly boost the market size. Furthermore, increased international trade has resulted in a rise in cargo Aircraft Frequency. It is also vital to do timely checkups and repairs on planes in order to ensure optimal efficiency and safe air travel. Various reasons are driving the market, including OEMs' increased focus on aircraft MRO operations and the rapid rise of aircraft fleets. In addition, the growing demand for proper engine and component maintenance is propelling the growth of the aviation MRO industry. The rise of low-cost airlines and the high level of professionalism demonstrated by ground and maintenance crews take advantage of the aviation industry's global commercialization.

Opportunities:

Numerous engine production projects are predicted to gain popularity as a result of a rise in aircraft modernisation, environmental concerns, and rules and legislation for the replacement of outdated fleets. Many engine manufacturers are concentrating on producing powerful and affordable engines for new fleets. One of the major trends in this industry is the increased usage of refurbished and used parts in engine and non-engine maintenance. Demand for secondhand aeroplane parts is expected to rise over the next decade, owing to an increase in the retirement of older aircraft around the world. Because the dynamics of the Aircraft MRO Market in commercial aviation are changing at a rapid pace, the industry's long-term viability necessitates quick execution of solutions to address the dynamism. Another factor fueling the growth of the Worldwide MRO Aircraft Sector is straight-line regulatory rules on aircraft and the requirement for frequent service of engine parts and engines.

Market Segmentation:

Engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and other components make up the aircraft MRO market. In 2020, the engine MRO segment had the biggest market share. Because of the rising demand for engine services, the same category is likely to maintain a considerable share during the projection period.

Regional Analysis:

In 2018, Asia Pacific had the biggest market share, and by 2025, it is expected to be the most dominant region with the quickest CAGR. Regional expansion is likely to be fueled by an increase in air travel in the future years. With almost 5000 aircraft in operation, China has a bigger market value. Other factors, such as increased international trade and need for new planes, are likely to fuel regional expansion. The focus on novel technologies for maintenance activities and OEMs has a significant impact on the market's growth in Europe.

Covid-19 Impact:

Almost every country's economic progress has been impeded by the COVID-19 pandemic. This economic slump has had a significant influence on the airline industry. Furthermore, countries' harmed economic progress has resulted in the closure of small airline firms in 2020. All major countries in Europe, Asia Pacific, and North America have imposed stringent restrictions on economic activity and the movement of goods and persons as a result of the ongoing COVID-19 pandemic. All of these issues are limiting both supply and demand for aeroplane maintenance services, limiting the Global Aviation MRO Market's Revenue Growth. Furthermore, a second wave of COVID-19 outbreaks in countries like India, France, and the United States would have a negative influence on market growth in the first half of 2021. The growth of the Aviation MRO Market is predicted to stabilise in 2022, and the market will develop positively from 2022 to 2028.

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