Global Commercial Aircraft MRO Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Commercial Aircraft MRO refers to the repair, inspection, modification, or overhaul of a commercial aircraft and its components. The growth of the aviation industry, increasing execution of airworthiness policies and norms, and rising digitalization of aircraft MRO services are the key factors soaring the market demand across the globe. For instance, in November 2021, Safran Landing Systems declared the company's five-year contract with the Chinese airline China Eastern for performing maintenance operations on the landing gear of 31 Airbus A330 aircraft at Safran's Singapore workshop. Likewise, in October 2021, AAR declared that the company signed an agreement with flydubai to repair support for the airline?s Boeing 737NG fleet and renew its power-by-the-hour (PBH) component pool. Thereby, the rising number of strategic initiatives by the leading market players are exhibiting a positive influence on the global market growth. However, aircraft downtime because of carrying out complex MRO operations and higher costs associated with aircraft components and spare parts impede the growth of the market over the forecast period of 2022-2028. Also, the rising technological developments and surging demand for low-cost carriers are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Commercial Aircraft MRO Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing demand for low-cost carriers and imposition of stringent airworthiness norms and policies. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing demand for new narrowbody aircraft, and the growth of aviation sector in countries such as India, and China would create lucrative growth prospects for the Commercial Aircraft MRO Market across the Asia-Pacific region.
Major market players included in this report are:
Boeing Company
AAR Corporation
Bombardier Inc.
Embraer S.A.
Delta TechOps
General Dynamics Corp.
Hong Kong Aircraft Engineering Company (HAECO) Ltd.
GE Aviation
Honeywell Aerospace
Lufthansa Technik AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By MRO Services:
Modifications
Airframe
Components
Engine
By Service Provider:
OEM
Operator/Airline In-house
Airline Third Party
Independent
By Aircraft:
Narrowbody
Widebody
Regional Jet
Turboprop
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Commercial Aircraft MRO Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
