Aircraft Component Maintenance Repair And Overhaul Mro Market
Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Forecasts to 2030 - Global Analysis By Service Type (Line Maintenance, Airframe Maintenance, Engine Overhaul, Modification and Other Service Types), Aircraft Type, Organization Type, Component, End User and By Geography
According to Stratistics MRC, the Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market is accounted for $72.8 billion in 2023 and is expected to reach $115.4 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Aircraft Component MRO refers to the various processes involved in maintaining, repairing, and overhauling individual parts and systems of an aircraft. This ensures the continued airworthiness and operational efficiency of the aircraft throughout its lifespan. This involves routine inspections, servicing, and minor component replacements to prevent failures and ensure smooth operation.
According to industry experts, with the extension of lease contracts of airlines, the average age of the aircraft fleet in the Asia-Pacific region increased to 18 to 24 years.
Market Dynamics:
Driver:
Increasing number of aircraft in service
As fleets expand to meet growing air travel demands, the need for maintenance and repair services rises correspondingly. This surge creates a robust demand for MRO providers, driving market growth. MRO facilities experience heightened activity, focusing on routine maintenance, unscheduled repairs, and component overhauls to ensure airworthiness. The expanding market, driven by a larger aircraft fleet, encourages specialization in MRO services.
Restraint:
High investment in advanced technologies
The substantial upfront costs of adopting cutting-edge technologies may deter smaller MRO providers, leading to market fragmentation. This creates a divide between those equipped with state-of-the-art capabilities and those struggling to keep pace. Additionally, the financial burden may contribute to increased service costs, potentially impacting the competitiveness of MRO services which hinder the growth of the market during the forecast period.
Opportunity:
Increasing complexity of aircraft systems
Modern aircraft with advanced avionics and intricate components require specialized expertise for maintenance and repair. This complexity fuels a growing demand for sophisticated MRO services, ranging from advanced diagnostics to specialized repairs. MRO providers must continually invest in training and technology to address the intricate nature of these systems. This trend contributes to the market's expansion, fostering innovation and ensuring that MRO capabilities align with the intricate technological landscape of contemporary aircraft, ultimately enhancing the safety and reliability of aviation operations.
Threat:
Fast pace of technological advancements
Rapidly evolving aircraft systems demand continuous training and upskilling for maintenance personnel, leading to increased training costs. MRO facilities must invest significantly in adopting and integrating new technologies, affecting capital expenditure. Additionally, the need for frequent updates and equipment upgrades to match the latest technological standards may strain the financial resources of MRO providers.
Covid-19 Impact
Economic slowdown prompted companies to reevaluate sustainability investments. Remote verification challenges hindered project assessments. However, the pandemic heightened awareness of global vulnerabilities, potentially increasing corporate focus on sustainability. Virtual offsetting platforms emerged to navigate travel restrictions. Overall, while the initial impact was disruptive, the resilience of the carbon offset market was demonstrated as companies’ adapted strategies, and the focus on sustainability increased in response to the global crisis.
The line maintenance segment is expected to be the largest during the forecast period
The line maintenance segment is estimated to have a lucrative growth, due to implementing efficient practices and adopting sustainable technologies during maintenance can mitigate environmental impact. Carbon offset projects targeting emission reductions in aviation or related sectors can play a role in neutralizing these operational carbon footprints. However, the impact depends on the industry's commitment to sustainable practices, regulatory support, and the adoption of emission-reducing technologies during line maintenance.
The general aviation aircraft segment is expected to have the highest CAGR during the forecast period
The general aviation aircraft segment is anticipated to witness the highest CAGR growth during the forecast period, the market can benefit from investments in projects like sustainable aviation fuels, renewable energy, and carbon capture technologies. Implementing effective carbon offset strategies for general aviation involves addressing measurement and verification complexities. By encouraging sustainable practices and offsetting emissions, the Offset/Carbon Credit Market can play a vital role in mitigating the environmental impact of general aviation activities and fostering a more sustainable aviation sector.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing environmental awareness and sustainability commitments across the region. Industries, particularly in countries like China and India, are engaging in emission reduction initiatives, driving the market. The region sees a surge in renewable energy projects, afforestation, and sustainable practices, contributing to a diverse portfolio of carbon offset projects. However, challenges like regulatory variations and the need for standardized methodologies persist.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to increased corporate sustainability commitments and government initiatives. Stringent climate policies, such as cap-and-trade systems and carbon pricing, further boost demand. Moreover Retrofitting older aircraft and military modernization programs contribute to market growth.
Key players in the market
Some of the key players in the Aircraft Component Maintenance, Repair & Overhaul (MRO) Market include AAR Corp., Airbus SE, Barnes Aerospace, BOEING Company, Bombardier Inc., Delta Airlines, Inc., HAECO, Honeywell International, Hong Kong Aircraft Engineering Company Limited, KLM U.K. Engineering Limited, Lufthansa Technik, Raytheon Technologies Corporation, SIA Engineering Company, Singapore Technologies Engineering Ltd, SR Technics, ST Aerospace, TAP Maintenance & Engineering and Turkish Technic, Inc.
Key Developments:
In January 2024, Airbus has signed an HCare Initial contract, a comprehensive by-the-hour services contract with Heligo Charter Private Limited for six Airbus H145 helicopters deployed for offshore and onshore operations in India.
In January 2024, AAR signs new multi-year military distribution agreement with Ontic providing AAR distribution rights to supply a strategic selection of military products to the U.S. government, with exclusivity on specified parts.
In December 2023, AAR signs extension and expansion of flight-hour component support agreement with ASL Aviation Holdings DAC. The contract extends and expands AAR’s existing component support agreement with ASL Airlines Belgium to include ASL Airlines France, ASL Airlines United Kingdom, and ASL Airlines Ireland.
Service Types Covered:
• Line Maintenance
• Airframe Maintenance
• Engine Overhaul
• Modification
• Other Service Types
Aircraft Types Covered:
• Business Jet
• General Aviation Aircraft
• Commercial Aircraft
• Helicopters
• Other Aircraft Types
Organization Types Covered:
• Independent Maintenance, Repair & Overhaul (MRO)
• Airline/Operator Maintenance, Repair & Overhaul (MRO)
• Original Equipment Manufacturer (OEM) MRO
Components Covered:
• Fuel System
• Avionics
• Landing Gear
• Wheel & Brakes
• Electrical Systems
• Thrust Reverser
• Cockpit Systems
• Seats
• Flight Control
• Other Components
End Users Covered:
• Military & Defense
• Aircraft Maintenance Service Providers
• Cargo Operators
• Governments & Agencies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market, By Service Type
5.1 Introduction
5.2 Line Maintenance
5.3 Airframe Maintenance
5.4 Engine Overhaul
5.5 Modification
5.6 Other Service Types
6 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market, By Aircraft Type
6.1 Introduction
6.2 Business Jet
6.3 General Aviation Aircraft
6.4 Commercial Aircraft
6.4.1 Wide-Body
6.4.2 Narrow-Body
6.4.3 Regional Jet
6.5 Helicopters
6.6 Other Aircraft Types
7 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market, By Organization Type
7.1 Introduction
7.2 Independent Maintenance, Repair & Overhaul (MRO)
7.3 Airline/Operator Maintenance, Repair & Overhaul (MRO)
7.4 Original Equipment Manufacturer (OEM) MRO
8 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market, By Component
8.1 Introduction
8.2 Fuel System
8.3 Avionics
8.4 Landing Gear
8.5 Wheel & Brakes
8.6 Electrical Systems
8.7 Thrust Reverser
8.8 Cockpit Systems
8.9 Seats
8.10 Flight Control
8.11 Other Components
9 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market, By End User
9.1 Introduction
9.2 Military & Defense
9.3 Aircraft Maintenance Service Providers
9.4 Cargo Operators
9.5 Governments & Agencies
9.6 Other End Users
10 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 AAR Corp.
12.2 Airbus SE
12.3 Barnes Aerospace
12.4 BOEING Company
12.5 Bombardier Inc.
12.6 Delta Airlines, Inc.
12.7 HAECO
12.8 Honeywell International
12.9 Hong Kong Aircraft Engineering Company Limited
12.10 KLM U.K. Engineering Limited
12.11 Lufthansa Technik
12.12 Raytheon Technologies Corporation
12.13 SIA Engineering Company
12.14 Singapore Technologies Engineering Ltd
12.15 SR Technics
12.16 ST Aerospace
12.17 TAP Maintenance & Engineering
12.18 Turkish Technic, Inc.
List of Tables
1 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Region (2021-2030) ($MN)
2 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Service Type (2021-2030) ($MN)
3 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Line Maintenance (2021-2030) ($MN)
4 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Airframe Maintenance (2021-2030) ($MN)
5 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Engine Overhaul (2021-2030) ($MN)
6 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Modification (2021-2030) ($MN)
7 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Other Service Types (2021-2030) ($MN)
8 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Aircraft Type (2021-2030) ($MN)
9 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Business Jet (2021-2030) ($MN)
10 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By General Aviation Aircraft (2021-2030) ($MN)
11 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Commercial Aircraft (2021-2030) ($MN)
12 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Wide-Body (2021-2030) ($MN)
13 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Narrow-Body (2021-2030) ($MN)
14 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Regional Jet (2021-2030) ($MN)
15 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Helicopters (2021-2030) ($MN)
16 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
17 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Organization Type (2021-2030) ($MN)
18 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Independent Maintenance, Repair & Overhaul (MRO) (2021-2030) ($MN)
19 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Airline/Operator Maintenance, Repair & Overhaul (MRO) (2021-2030) ($MN)
20 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Original Equipment Manufacturer (OEM) MRO (2021-2030) ($MN)
21 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Component (2021-2030) ($MN)
22 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Fuel System (2021-2030) ($MN)
23 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Avionics (2021-2030) ($MN)
24 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Landing Gear (2021-2030) ($MN)
25 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Wheel & Brakes (2021-2030) ($MN)
26 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Electrical Systems (2021-2030) ($MN)
27 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Thrust Reverser (2021-2030) ($MN)
28 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Cockpit Systems (2021-2030) ($MN)
29 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Seats (2021-2030) ($MN)
30 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Flight Control (2021-2030) ($MN)
31 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Other Components (2021-2030) ($MN)
32 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By End User (2021-2030) ($MN)
33 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Military & Defense (2021-2030) ($MN)
34 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Aircraft Maintenance Service Providers (2021-2030) ($MN)
35 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Cargo Operators (2021-2030) ($MN)
36 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Governments & Agencies (2021-2030) ($MN)
37 Global Aircraft Component Maintenance, Repair & Overhaul (MRO) Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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