-- Aircraft Maintenance, Repair and Overhaul (MRO) Market Research Report 2019 published By Market Research Future, provides information on Global Aircraft MRO Industry Size, Share, Trends, Growth and Opportunity Assessment with Regional Analysis and Segmentation By MRO Type (Engine, Component, Line Maintenance, Airframe, and Modifications), By Aircraft type (Narrow-body, Wide-body, and Others), By Application (Commercial Air Transport, Business and General Aviation, and Military Aviation) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America) - Forecast to 2023
Global Aircraft MRO Market Expected to be Worth US $ 95 bn by 2023 due to growing demand for MRO in Aviation Industry
Market Research Future (MRFR) has published a research report about the global aircraft maintenance, repair and overhaul (MRO) market that estimates expansion at 5% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023. By value, this market is expected to be worth the US $ 95 bn by the end of forecast period.
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The cardinal factors driving the global aircraft MRO market growth are MRO outsourcing and rapid fleet expansion. Other factors aiding the market growth include growing trend of air-travel in the emerging economies, growing demand for MRO services, growing international trade leading to more import & exports, the necessity for timely checks regarding equipment, need for MRO by private and charted plane owners, and need for routine repairs. The last major factor for the growth of this market is many original equipment manufacturers (OEMs) investing in their own MRO divisions.
Key Players
The key players in the global aircraft MRO market include -
• Airbus Group (Netherlands)
• Air France KLM Engineering & Maintenance (France)
• Air Works (UK)
• Delta TechOps (USA)
• GMF AeroAsia (Indonesia)
• Hong Kong Aircraft Engineering Company Limited (HAECO) (Hong Kong)
• Honeywell International (USA)
• Jet Maintenance Solutions (Lithuania)
• Lufthansa Technik (Germany)
• ST Aerospace (Singapore)
Latest Industry News
AAR has earned a contract to provide MRO of Pratt & Whitney F100-220 engine components for the Royal Danish Air Force’s (RDAF) F-16 aircraft.
FADEC Alliance has signed a 25-year agreement with Lufthansa Technik to supply engine controls for the LEAP engines which power the Airbus A320neo, Boeing 737 MAX, and Comac 919 airplanes.
Market Segmentation and Geographic Overview
The global aircraft MRO market segmentation segments the market into aircraft type, application, MRO type, and lastly, region. By aircraft type, this market has been segmented into narrow-body, wide-body, and others. During the forecast period, the narrow-body aircraft segment is likely to gain traction due to high maintenance services provided to single-aisle jets.
The application-based segmentation segments the market into business & general aviation, commercial air transport, and military aviation. During the forecast period, the commercial air transport segment has been anticipated to generate significant revenue for the market due to the presence of various low-cost carriers.
By MRO type, the market has been segmented into airframe MRO, component MRO, engine MRO, line maintenance MRO, and modifications MRO. During the forecast period, the engine MRO segment is touted to generate significant revenue due to the component being a vital part of the repair, maintenance, and periodic checking.
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The regional segmentation of the global aircraft MRO market segments the global market into regional markets known as the Asia Pacific, North America, Europe, the rest of the world (RoW). The Asia Pacific held the largest market share in the base year. It is an emerging regional market, and it relies heavily on the small and medium wide-body aircraft. The strongest economies that can be potential markets in this region are China, India, and Japan. Many MRO service providers are based in the Asia Pacific region. Hence, due to low labor rates, North American airlines outsource their MRO related tasks to companies in the Asia Pacific region.
North America is an important market due to technological advancement and the presence of some key market players in the region. The strongest economies that can be potential markets in this region are USA and Canada.
Europe is an important regional market due to technological advancement that is second only to North America. The strongest economies that can be potential markets in this region are France, Germany, and the UK.
Table of Contents
1 Executive Summary
2 Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.4 Market Structure
2.5 Key Takeaways of the Market
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Market Dynamics
4.2 Drivers
4.2.1 Rapid Fleet Expansion
4.2.2 Mro Outsourcing
4.2.3 Increased Focus of Oems on Aircraft Mro Service
4.3 Restraints
4.3.1 Environmental Hazards
4.3.2 Retirement of Maintenance-intensive Aircraft
4.3.3 Development of Next-generation Aircraft
4.4 Opportunities
4.4.1 It Integration in Mro
4.4.2 Evolution of 3d Printing
Continued......
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