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Aircraft MRO Market Research Report – Global Forecast to 2023

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Global Aircraft MRO Market Information Report 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 Aviat
Aircraft MRO Market 2018
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Aircraft MRO Market 2018
Aircraft MRO Market 2018: Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
Aircraft MRO sales market size is expected to expand owing to increase in fleet numbers of aircraft. It is
anticipated to exceed a valuation of USD 95 Bn by 2023. Maintenance, repair, and overhaul (MRO)
services are deemed vital by aviation agencies for maintenance of the aircraft and prevention of crashes.
Different MRO centers use their own technologies for providing rapid and efficient services to carriers.
The launch of new airlines coupled with replacement of legacy aircraft likely to reflect favorably on the
market in the years to come. Increased efforts by original equipment manufacturers (OEMs) to provide
such services is anticipated to bode well for major airlines. Increase in trade activities and frequent air
travel opted by consumers are factors expected to bolster market growth in the coming years. Demand
from private airline operators and chartered plane owners is expected to lead to MRO centers in
countries with high air traffic. On the flip side, scarcity of skilled personnel can pose a challenge to
market growth in the coming years.
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Aircraft MRO Market 2018
“Taste the market data and market information presented through more than 50 market data tables
and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content
TOC & market synopsis on “Aircraft MRO Market Research Report - Global Forecast 2023”
Prominent market players include Lufthansa Technik AG, Honeywell International Inc., AirbusGroup
Limited, Delta TechOps, and Singapore Technologies (ST) Aerospace. In 2016, ST Aerospace, Air France
KLM Engineering & Maintenance, Delta TechOps, and Lufthansa Technik AG accounted for close to 35%
market share. OEMs are establishing their own MRO divisions to optimize aircraft maintenance costs
and keep overheads to a minimum. Consolidation of existing divisions is a common trend in the industry
to counter the encroachment of third-party MROs as evident by such moves by Airbus and Boeing.
Partnerships between OEMs and MROs is also expected to lead to new alliances in the market.
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Aircraft MRO Market 2018
Segmentation:
The aircraft MRO market is segmented on the basis of MRO type, aircraft type, application, and region.
By MRO type, the market is divided into airframe, component, engine, line maintenance, and
modification. The engine segment is touted to generate significant revenue by 2023 owing to the
component being a vital part of repair, maintenance, and periodic checking. Development of nextgeneration aircraft is anticipated to create opportunities for the segment.
Types of aircraft requiring MRO include wide-body, narrow-body, and others. The narrow-body aircraft
segment is likely to gain traction due to high maintenance services provided to single-aisle jets.
Military aviation, business & general aviation, and commercial air transport are major market
applications. The commercial air transport segment is anticipated to generate significant revenue for the
market owing to the presence of various low-cost carriers. Expansion of air fleets by carriers such as
Etihad Airways, Qatar Airways, and Emirates is expected to lead to spending for maintenance of aircraft.
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Aircraft MRO Market 2018
Application & Major Players in this Research:
Aircraft MRO Market Prominent Players:
Mahindra Group, a recognized Indian conglomerate, has reportedly decided to partner with ShinMaywa
Industries, a Japanese firm, for setting up MRO units in India. These centers are expected to be used in
the manufacture and assembly of specific components and parts of ShinMaywa US-2, an amphibian
aircraft. The aircraft will be used in border surveillance and patrol missions.
Aerostar S.A., a Romanian company, has decided to expand its MRO capacity by setting up a new center
at Iasi International Airport. The new facility recently carried out the servicing of aircraft owned by
Pegasus Airlines, a low-cost Turkish airline.
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Aircraft MRO Market 2018
Aircraft MRO Market Competitive Analysis
Commenting on the report, an analyst from Market Research Future (MRFR)’s
team said:
Regions covered in the market report include North America, Latin America (LATAM), Asia
Pacific (APAC), Middle East & Africa (MEA), and Europe. The APAC market is projected to
exhibit high growth due to the presence of major airlines such as Air Asia, IndiGo, and
Tigerair. In addition, low labor costs make the region lucrative for MRO outsourcing. This is
evident with major North American airlines outsourcing 60% of their maintenance-related
services to Asia.
The India market within the APAC region is expected to offer opportunities for growth.
Infrastructural development coupled with adoption of latest technologies is making the
region viable for investment. Measures taken by the Indian government in reducing the
taxes on spare parts could be a relief for the industry. Tax exemption proposals for MRO
units can boost domestic market growth.
The Europe aircraft MRO market is anticipated to witness an upsurge in demand owing to
retrofitting of new devices in legacy aircraft. This is evident by continuous maintenance
conducted on single-aisle jets in the region.
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Author
Monica Nerkar
Monica Nerkar851   document Email
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