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The size of the worldwide aviation MRO market was estimated at USD 78.60 billion in 2022, and it is anticipated to increase at a CAGR of 5.02% from 2023 to 2030. The market is anticipated to expand faster due to rapid urbanisation, rising economic growth in emerging nations, and more business and tourist travel. The external factors that are anticipated to have a considerable impact on the market are air traffic volumes, the size of the global fleet, and aircraft utilisation. Additionally, more aircraft are anticipated to be produced as a result of the growing air travel by people for both personal and professional reasons, which will have a significant impact on the industry.
Increasing expenditures in MRO (maintenance, repair, and overhaul) software for aeroplanes are also anticipated to open up new business opportunities. The maintenance tracking, logbook tracking, flying time monitoring, administration of service bulletins, maintenance scheduling, budget forecasting, electronic task card management, and work order management components of aircraft MRO software. For instance, India saw large foreign direct investments in a variety of industries, including the maintenance, repair, and overhaul of aircraft, in May 2021. Therefore, it is anticipated that investments and acquisitions will generate profitable market prospects.
The Federal Aviation Administration (FAA) and International Civil Aviation Organisation (ICAO) regulations, among others, have an impact on the market. Additionally, the increased demand for older aircraft and environmental concerns highlight the need for ongoing monitoring and repair of the older aircraft, giving the industry momentum. Additionally, the COVID-19's global outbreak and the suspension of travel and tourism as a result of severe lookdowns implemented by the governments to stop the spread hindered the airline industry's revenue and profit margins.
As airlines' operations ceased, more of them turned to MRO to keep their fleets operating efficiently. Additionally, a wide range of government initiatives have been created to encourage airports to adopt MRO as a strategic endeavour. Governments are now pursuing a number of comprehensive strategies to guarantee that there is enough room for MRO at different airports around the nation, which could increase aircraft MRO activity during the anticipated term.
Report Coverage
Global Aircraft MRO research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Aircraft MRO report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Aircraft MRO competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Aircraft MRO market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Aircraft MRO market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Aircraft MRO market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AAR Corp.; Airbus SE; Delta Airlines, Inc. (Delta TechOps); Hong Kong Aircraft Engineering Company Limited; KLM U.K. Engineering Limited; Lufthansa Technik; MTU Aero Engines AG; Raytheon Technologies Corporation (Previously United Technologies Corporation); Singapore Technologies Engineering Ltd; TAP Maintenance & Engineering (TAP Air Portugal)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Aircraft MRO market based on the below-mentioned segments:
Global Aircraft MRO Market, By Service Type
Engine Overhaul
Airframe Maintenance
Line Maintenance
Modification
Components
Global Aircraft MRO market, By Organization Type
Airline/Operator MRO
Independent MRO
Original Equipment Manufacturer (OEM) MRO
Global Aircraft MRO Market, By Aircraft Generation
Old Generation
Mid Generation
New Generation
Global Aircraft MRO market, Regional Analysis
Increasing expenditures in MRO (maintenance, repair, and overhaul) software for aeroplanes are also anticipated to open up new business opportunities. The maintenance tracking, logbook tracking, flying time monitoring, administration of service bulletins, maintenance scheduling, budget forecasting, electronic task card management, and work order management components of aircraft MRO software. For instance, India saw large foreign direct investments in a variety of industries, including the maintenance, repair, and overhaul of aircraft, in May 2021. Therefore, it is anticipated that investments and acquisitions will generate profitable market prospects.
The Federal Aviation Administration (FAA) and International Civil Aviation Organisation (ICAO) regulations, among others, have an impact on the market. Additionally, the increased demand for older aircraft and environmental concerns highlight the need for ongoing monitoring and repair of the older aircraft, giving the industry momentum. Additionally, the COVID-19's global outbreak and the suspension of travel and tourism as a result of severe lookdowns implemented by the governments to stop the spread hindered the airline industry's revenue and profit margins.
As airlines' operations ceased, more of them turned to MRO to keep their fleets operating efficiently. Additionally, a wide range of government initiatives have been created to encourage airports to adopt MRO as a strategic endeavour. Governments are now pursuing a number of comprehensive strategies to guarantee that there is enough room for MRO at different airports around the nation, which could increase aircraft MRO activity during the anticipated term.
Report Coverage
Global Aircraft MRO research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Aircraft MRO report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Aircraft MRO competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Aircraft MRO market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AAR Corp.; Airbus SE; Delta Airlines, Inc. (Delta TechOps); Hong Kong Aircraft Engineering Company Limited; KLM U.K. Engineering Limited; Lufthansa Technik; MTU Aero Engines AG; Raytheon Technologies Corporation (Previously United Technologies Corporation); Singapore Technologies Engineering Ltd; TAP Maintenance & Engineering (TAP Air Portugal) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Aircraft MRO Market from 2021 to 2030.
- Market Forecast for Aircraft MRO Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Aircraft MRO competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Aircraft MRO
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Aircraft MRO market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Aircraft MRO market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AAR Corp.; Airbus SE; Delta Airlines, Inc. (Delta TechOps); Hong Kong Aircraft Engineering Company Limited; KLM U.K. Engineering Limited; Lufthansa Technik; MTU Aero Engines AG; Raytheon Technologies Corporation (Previously United Technologies Corporation); Singapore Technologies Engineering Ltd; TAP Maintenance & Engineering (TAP Air Portugal)
Primary Target Market
- Market Players of Aircraft MRO
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Aircraft MRO market based on the below-mentioned segments:
Global Aircraft MRO Market, By Service Type
Engine Overhaul
Airframe Maintenance
Line Maintenance
Modification
Components
Global Aircraft MRO market, By Organization Type
Airline/Operator MRO
Independent MRO
Original Equipment Manufacturer (OEM) MRO
Global Aircraft MRO Market, By Aircraft Generation
Old Generation
Mid Generation
New Generation
Global Aircraft MRO market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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