Aircraft MRO Market Overview

Aircraft MRO Market is anticipated to touch USD 95 Billion by 2030, growing at a CAGR Of 6.05% by 2022 -2030. The development of the aviation sector is estimated to create a strong impetus for the aircraft MRO market. The market's report is efficiently analyzed as per MRFR, which provides outlooks for the global markets.

The increased budgets being dedicated to aircraft upkeep are estimated to rise with increased flights being operated, thus spurring the aircraft MRO market in the impending period. The improved capabilities of companies in the market are assessed to promote the aircraft MRO market share in the forecast period.

Segmental Analysis

The segmental overview of the aircraft MRO market is carried out based on MRO type, aircraft type, application and region. The application segment of the aircraft MRO market consists of business and general aviation, commercial air transport, and military aviation. The MRO type segment of the aircraft MRO market consists of the component, engine, line maintenance, airframe, and modifications. The aircraft type segment of the aircraft MRO market consists of wide-body and narrow-body. The region segment of the aircraft MRO market comprises of the Middle East, Asia-Pacific, Europe, North America, Europe, and Africa.

Competitive Analysis

The market is estimated to be driven by positive aspects of the global demand in the forecast period. The broadening geographical reach of several companies globally is estimated to propel the market's development in the upcoming period. The financing related to innovations is estimated to take precedence in the business goals set by the various players in the market. The present COVID-19 crisis has encouraged companies to oversee a complete appraisal of business portfolios and make long-overdue operative changes. Companies are also adopting an asset-light model to navigate market conditions. The utilization of a dynamic ecosystem business model is estimated further to improve the chances for developments in the forecast period. The incorporation of pioneering technologies and work processes is likely to spur the global market in the impending period. The companies are estimated to favor the long-term developments in the coming period to ensure the longevity and sustainability of their businesses.

Major key aircraft MRO market players are Air France KLM Engineering & Maintenance, GMF AeroAsia, Air Works, HAECO, Honeywell International, Jet Maintenance Solutions, Airbus Group, ST Aerospace, GE Aviation, Rolls-Royce, Pratt & Whitney, Delta TechOps, Lufthansa Technik and Safran Aircraft Engines.

Regional Overview

The regional study of the aircraft MRO market comprises of the Middle East, Asia-Pacific, Europe, North America, Europe, and Africa. The North American regional market is the leading region for the global MRO demand, especially for aircraft engines. The air traffic evolution is projected to energize European regional market growth in the upcoming years. The aircraft MRO market in Germany kept a higher market worth. The regional expansion of the market is projected to be driven by other influences, such as growing foreign trade and the need for novel aircraft. The aircraft MRO market is driven by many factors, such as augmented air travel in the Asia-Pacific region. The aspects propelling record development of the aircraft MRO market in APAC are financial growth, rising leisure travel, and growing investment on aviation setup in the Asia-Pacific region. The development of the aircraft engine MRO market is also inspired by elaborate restrictions in the worldwide flight regulations and the necessity for careful upkeep of engines & engine pieces. The increasing number of old aircraft fleets and older aircraft technology advances a favorable viewpoint for the overall business. In addition, the rising travel levels are expanding the industry sales in the region along with the accessibility of technologically progressive and next-generation wide-body aircraft.

Industry Updates:

June 2021 An EASA Part 145 Maintenance Organization authorization endorsement was granted to Clay Lacy Aviation MRO Services recently by the European Union Aviation Safety Agency (EASA). This authorization allows Clay Lacy to deliver maintenance services on commercial jets recorded in member nations of the EU. EASA is accountable for civil aviation safety through the European Union and for EU inhabitants and aircraft traveling overseas.

June 2021 VD Gulf (UAE), a foremost independent MRO, and Joramco, a front-runner in commercial aircraft maintenance, repair, and overhaul (MRO), have signed a cooperation framework. Under the contract, both autonomous MROs aim to increase their existing competencies, capacity and enhance their synergies for a one-stop-shop upscaled client experience, in addition to encouraging and endorsing sustainable development for both administrations.

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