Aircraft MRO Market: Global Industry Analysis and Forecast (2021-2029)

Aircraft MRO Market size was valued at US$ 73.43 Bn. in 2021 and the total revenue is expected to grow at 4.9% through 2022 to 2029, Aircraft MRO Market is reaching nearly US$ 107.66 Bn. by 2029.

Aircraft MRO Market Overview:

Maintenance, Repair, and Overhaul (MRO) is an abbreviation used in the aviation industry to refer to the repairing and servicing of aircraft and their components. To guarantee the aircraft's safety and airworthiness, all maintenance work must be performed in accordance with international standards. Each year, airlines spend a large amount of money on MRO activities in order to comply with the stringent standards imposed by airworthiness authorities to ensure the safety of passengers and crew. This is a significant portion of their entire operating costs. Despite extensive knowledge of the business and process, MRO service was a relatively untapped field for OEMs such as Boeing, Airbus, Bombardier, and others until a few years ago. However, these OEMs are becoming more involved in the MRO market and emphasizing new technologies such aviation maintenance software, which is expected to significantly increase the MRO environment over the forecast period. Aircraft MRO MarketTo know about the Research Methodology :- Request Free Sample Report

Aircraft MRO Market Dynamics:

According to the most recent updates from IATA, ICAO, the Airports Council International (ACI), the United Nations World Tourism Organization (UNWTO), the World Trade Organization (WTO), and the International Monetary Fund (IMF), international air passenger traffic is expected to drop by 50-55 % in 2020 compared to the baseline year. In comparison to 2019, the airline revenue-per-kilometer (RPK) is expected to fall by 48 %. In terms of gross operating revenues, the airlines are estimated to lose between USD 289 million and USD 387 billion. Europe and Asia-Pacific are expected to be the most active regions. The demand for MRO facilities is likely to rise as the number of air passenger carriers grows in response to the growing number of passengers choosing to travel by air. The loosening of foreign direct investment restrictions in the aviation industry is prompting airlines to outsource maintenance tasks to ensure that planes run smoothly. The aircraft market will grow rapidly, owing to an increase in the number of air passengers flying each year as a result of increased flight frequencies, lower ticket prices, and increased route availability. These factors are expected to increase demand for MRO services, which would help the industry thrive. Due to a manpower scarcity, growing labor expenses, an ageing workforce, and dwindling interest in the maintenance technician job role among newly graduating engineers, the aircraft MRO business is facing issues. This pattern is expected to continue during the projected period unless something drastic happens. Two possibilities that are more relevant to MRO operators are right-shorting and outsourcing. The rising cost of materials is becoming a prominent element driving industry expansion. MRO firms are attempting to develop methods that would insulate them from the competition by forming strategic alliances with OEMs. It will also assist in the procurement of aircraft parts and components in real-time. Aircraft MRO Market

Global Aircraft MRO Market Segment Analysis:

The Aircraft MRO Market is segmented into Service type, Organization type, Aircraft type and Aircraft generation. Based on Service Type, the market is sub-segmented into Engine overhaul, airframe maintenances, line maintenances, modification, and components. The line maintenances segment is expected to reach USD $ 8.9 Bn. at the end of 2026. Inspection, identification, and correction of problems on the aircraft body are all part of aircraft line maintenance. Important aeroplane maintenance and periodic repairs are also part of the operation. As several carriers have moved heavy and base maintenance work to emerging regions, primarily Asia, because they offer cheaper and more efficient services, line maintenance and planning, which was previously preferred to be kept in-house, has accounted for a larger share of MRO outsourcing in recent years. The United States, Canada, Japan, China, and Europe are expected to fuel the global Line Maintenance segment's 2.2 % CAGR. By the end of the forecast period, these regional markets, which had a combined market value of US$5.5 billion in 2020, will have grown to US$6.4 billion. The Asia-Pacific market is expected to reach US$1.2 billion by 2026, led by countries like Australia, India, and South Korea, while Latin America will grow at a 2.5 % CAGR over the same period. Aircraft MRO Market Based on Aircraft Type, the market is sub-segmented into Narrow body, wide body, Regional jet and others. In 2029, the commercial aviation MRO market for narrow body aircraft is expected to earn USD 55 billion in revenue. A narrow body aircraft, often known as a single-aisle aircraft, is a smaller type of aircraft that is used to fly short-haul cross-border flights and domestic flights. Due to its compact size and restriction to short-distance travel, a narrow body aircraft can carry up to 295 passengers. The market is heavily reliant on narrow body aircraft, both private and commercial. The increasing use of such aircraft in the construction industry would boost income generation even more.

Global Aircraft MRO Market Regional Analysis –

North America region leading the aircraft MRO market in 2021, the US economy is expected to be worth $9.9 billion dollars. China, the world's second largest economy, is expected to reach a market size of US$6.3 billion by 2026, representing a CAGR of 5.9% throughout the forecast period. Japan and Canada are two other important geographic markets, with forecasted growth rates of 2.2 % and 2.3 %, respectively, for the forecast period. Germany is expected to grow at a CAGR of around 2.8 % in Europe. Low labor costs, easy availability to experienced workers, and improved service levels have made Asia-Pacific a very appealing outsourcing and MRO location. Low-cost labor markets like Vietnam and Thailand are fueling MRO growth for Asian companies. Nearly 30% of wide-body heavy airframe maintenance is currently outsourced to China and the Asia-Pacific area by airline operators globally. The repatriation of wide-body heavy maintenance work is expected to boost income in North America and Western Europe's stagnating MRO markets. Aircraft MRO Market The objective of the report is to present a comprehensive analysis of the global Aircraft MRO Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Aircraft MRO Market dynamics, structure by analyzing the market segments and project the global Aircraft MRO Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Aircraft MRO Market make the report investor’s guide.

Global Aircraft MRO Market Scope: Inquire before buying

Global Aircraft MRO Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2022: US $ 73.43 Bn.
Forecast Period 2022 to 2029 CAGR: 4.9% Market Size in 2029: US $ 107.66 Bn.
Segments Covered: by Service Type • Engine Overhaul • Airframe Maintenance • Line Maintenance • Modification • Components
by Organization Type • Airline/Operator MRO • Independent MRO • Original Equipment Manufacturer (OEM) MRO
by Aircraft Type • Narrow-Body • Wide-Body • Regional Jet • Others
by Aircraft Generation • Old Generation • Mid Generation • New Generation

Global Aircraft MRO Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Aircraft MRO Market Key Players

AAR Corp • Air-France Industries KLM Engineering & Maintenance • Bombardier Inc. • Delta TechOps • GE Aviation • Hong Kong Aircraft Engineering Co. Ltd. • Lufthansa Technik • MTU Aero Engines AG • Triumph Group, Inc • Airgas, Inc. (Air Liquide S.A.) • WESCO International, Inc. • Sonepar SA • W.W. Grainger, Inc. • Interline Brands, Inc. • Motion Industries • Greenwich Aero Group • Abu Dhabi Aircraft Technologies • Turkish Technic

Frequently Asked Questions:

1) What was the market size of Global Aircraft MRO Market in 2021? Ans - Global Global Aircraft MRO Market was worth US$ 73.43 Bn. in 2021. 2) What is the market segment of the Aircraft MRO Market? Ans -The market segments are based on Service type, Organization type, Aircraft type and Aircraft generation. 3) What is the forecast period considered for Global Aircraft MRO Market? Ans -The forecast period for Global Aircraft MRO Market is 2022 to 2029. 4) What is the market size of Global Aircraft MRO Market markets in 2029? Ans – Global Aircraft MRO Market is estimated as worth US$ 107.66 Bn. 5) Which region is dominated in Global Aircraft MRO Market? Ans -In 2021, the North America region dominated the Global Aircraft MRO Market.
1. Global Aircraft MRO Market : Research Methodology 2. Global Aircraft MRO Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Aircraft MRO Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Aircraft MRO Market : Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global Aircraft MRO Market Segmentation 4.1. Global Aircraft MRO Market ,by Service type (2021-2029) • Engine Overhaul • Airframe Maintenance • Line Maintenance • Modification • Components 4.2. Global Aircraft MRO Market , by Organization type (2021-2029) • Airline/Operator MRO • Independent MRO • Original Equipment Manufacturer (OEM) MRO 4.3. Global Aircraft MRO Market , by Aircraft type (2021-2029) • Narrow-Body • Wide-Body • Regional Jet • Others 4.4. Global Aircraft MRO Market , by Aircraft generation (2021-2029) • Old Generation • Mid Generation • New Generation 5. North America Aircraft MRO Market (2021-2029) 5.1. North America Aircraft MRO Market , Component (2021-2029) • Engine Overhaul • Airframe Maintenance • Line Maintenance • Modification • Components 5.2. North America Aircraft MRO Market , by Organization type (2021-2029) • Airline/Operator MRO • Independent MRO • Original Equipment Manufacturer (OEM) MRO 5.3. North America Aircraft MRO Market , by Aircraft type (2021-2029) • Narrow-Body • Wide-Body • Regional Jet • Others 5.4. North America Aircraft MRO Market , by Aircraft generation (2021-2029) • Old Generation • Mid Generation • New Generation 5.5. North America Aircraft MRO Market , by Country (2021-2029) • US • Canada • Mexico 6. European Aircraft MRO Market (2021-2029) 6.1. European Aircraft MRO Market , by Service type (2021-2029) 6.2. European Aircraft MRO Market , by Organization type (2021-2029) 6.3. European Aircraft MRO Market , by Aircraft type (2021-2029) 6.4. European Aircraft MRO Market , by Aircraft generation (2021-2029) 6.5. European Aircraft MRO Market , by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Aircraft MRO Market (2021-2029) 7.1. Asia Pacific Aircraft MRO Market , by Service type (2021-2029) 7.2. Asia Pacific Aircraft MRO Market , by Organization type (2021-2029) 7.3. Asia Pacific Aircraft MRO Market , by Aircraft type (2021-2029) 7.4. Asia Pacific Aircraft MRO Market , by Aircraft generation (2021-2029) 7.5. Asia Pacific Aircraft MRO Market , by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Aircraft MRO Market (2021-2029) 8.1. Middle East and Africa Aircraft MRO Market , by Service type (2021-2029) 8.2. Middle East and Africa Aircraft MRO Market , by Organization type (2021-2029) 8.3. Middle East and Africa Aircraft MRO Market , by Aircraft type (2021-2029) 8.4. Middle East and Africa Aircraft MRO Market , by Aircraft generation (2021-2029) 8.5. Middle East and Africa Aircraft MRO Market , by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Aircraft MRO Market (2021-2029) 9.1. Latin America Aircraft MRO Market , by Service type (2021-2029) 9.2. Latin America Aircraft MRO Market , by Organization type (2021-2029) 9.3. Latin America Aircraft MRO Market , by Aircraft type (2021-2029) 9.4. Latin America Aircraft MRO Market , by Aircraft generation (2021-2029) 9.5. Latin America Aircraft MRO Market , by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. AAR Corp 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Air-France Industries KLM Engineering & Maintenance 10.3. Bombardier Inc. 10.4. Delta TechOps 10.5. GE Aviation 10.6. Hong Kong Aircraft Engineering Co. Ltd. 10.7. Lufthansa Technik 10.8. MTU Aero Engines AG 10.9. Triumph Group, Inc 10.10. Airgas, Inc. (Air Liquide S.A.) 10.11. WESCO International, Inc. 10.12. Sonepar SA 10.13. W.W. Grainger, Inc. 10.14. Interline Brands, Inc. 10.15. Motion Industries 10.16. Greenwich Aero Group 10.17. Abu Dhabi Aircraft Technologies 10.18. Turkish Technic

About This Report

Report ID 108427
Category Automotive and Transportation
Published Date June 2021
Updated Date Sept 2022
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