Air Transport MRO - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Air Transport MRO Market is accounted for $84.12 billion in 2019 and is expected to reach $141.33 billion by 2027 growing at a CAGR of 6.7% during the forecast period. Some of the key factors propelling the market growth include rise in air passenger traffic, fleet iterations, need to enhance operability & efficiency, and requirement for disassembling, checking, and repairing of various parts of aircraft. However, lack of skilled workforce, and higher maintenance cost is expected to restrain the air transport MRO market growth. Moreover, blockchain technology is anticipated to provide lucrative opportunities for the manufacturers in the air transport MRO industry. The manufacturers are focusing on integrated innovative solutions such as blockchain technology, which enables end users to track MRO activities and allow traceability, resilience, and organized integration.
Air transport maintenance, repair, and overhaul (MRO) deals with compliance to the safety instructions and airworthiness. It is highly regulated by enforcing stringent rules and regulations by the government for the operational functioning of the aircraft during the flight. It is one of the major expenditure by the airlines as MRO has been mandated by the International Civil Aviation Organization. The MRO sector needs further enhancements of skillsets and technicians, owing to increase in trend of digitization and rise in need for technological advancements to keep up with the industry trends.
By aircraft type, narrow body segment is expected to grow at the significant rate during the forecast period. Due to its extended range, maximum take-off weight and fuel efficiency, narrow body aircraft is most suitable for low-cost carrier. AirBus and Boeing, the two major players in aircraft manufacturing have delivered over 1,200 narrow body aircrafts. In addition, both the players are committed to increase their production rate which will further raise the narrow body market growth during the forecast period.
On the basis of geography, Asia Pacific is projected to have considerable market growth during the forecast period, due to growing middle class population. With the economic development of Asia Pacific, in particular China and India are the major countries where middle class population is exploding. This large population with its growing inclination towards air travel is estimated to drive the market growth. In addition, lower labor rate and rapid development of infrastructure in China and India is expected to further boost the air transport MRO market.
Some of the key players in aircraft cable market include Delta TechOps, AAR Corporation, GE Aviation, John Swire & Sons (H.K.) Ltd., KLM Engineering & Maintenance, United Technologies Corporation (Pratt and Whitney division), HAECO Ltd., Collins Aerospace, Airbus S.A.S., Deutsche Lufthansa AG, Lufthansa Technik AG, Israel Aerospace Industries (IAI), Turkish Technic Inc., TIMCO Aviation Services, Inc., Sabena Technics, Singapore Technologies Engineering Ltd, Guangzhou Aircraft Maintenance Engineering Company Limited, SIA Engineering Company (SIAEC), Mubadala Aerospace, and British Airways PLC.
• Air frame
Aircraft Types Covered:
• Regional Jet
• Turbo Prop
• Narrow Body Aircraft
• Wide Body Aircraft
• Other Aircraft Types
End Users covered:
• Civil Air Transport MRO
• Military Air Transport MRO
• Avionic Standardization
• Aircraft Conversions
• Heavy Maintenance Inspection
• Engine Service Check
• Component Maintenance
• Line Maintenance
• Retro Aircraft Conversions
Provider Types Covered:
• Non-OEM MRO
• Original Equipment Manufacturer (OEM)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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