The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Aircraft Maintenance, Repair and Overhaul (MRO) Services Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Aircraft Maintenance, Repair and Overhaul (MRO) Services Industry Analytical Overview (2024-2029): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Aircraft Maintenance, Repair and Overhaul (MRO) Services Market size in the year 2022 was around USD 78.9 billion and it is estimated to grow at a CAGR of around 7.32% during the forecast period, i.e., 2024-29. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2029.
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What is Included in Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Segmentation?
The report has segmented the market into the following categories:
By Type of MRO
- Independent MRO- Market Size & Forecast 2019-2029F, USD Million
- Original Equipment Manufacturer (OEM) MRO- Market Size & Forecast 2019-2029F, USD Million
- Airline/Operator MRO- Market Size & Forecast 2019-2029F, USD Million
By Service Type
- Airframe Maintenance- Market Size & Forecast 2019-2029F, USD Million
- Engine Overhaul- Market Size & Forecast 2019-2029F, USD Million
- Modification- Market Size & Forecast 2019-2029F, USD Million
- Component repair & Maintenance- Market Size & Forecast 2019-2029F, USD Million
- Line Maintenance- Market Size & Forecast 2019-2029F, USD Million
By Type of Aircraft
- Commercial Aviation
- Narrow body Jet- Market Size & Forecast 2019-2029F, USD Million
- Widebody Jet- Market Size & Forecast 2019-2029F, USD Million
- Regional Jet- Market Size & Forecast 2019-2029F, USD Million
- Cargo- Market Size & Forecast 2019-2029F, USD Million
- General Aviation
- Single-Engine Piston Aircraft
- Twin-Engine Piston Aircraft
- Turboprop Aircraft
- Business Jets
- Amphibious Aircrafts
- Others (Rotorcraft, Aerobatic Aircraft, etc.)
- Military Aviation
- Fighter Aircraft
- Bomber Aircraft
- Reconnaissance Aircraft
- Special Mission Aircraft
- Others (Transport Aircraft, Trainer Aircraft, etc.)
The increasing air travel by individuals & the surging air cargo has led to a surge in the demand for commercial aviation. As a result, airline operators are increasingly purchasing wide-body aircraft to accommodate freight and mail in the lower cargo compartments. In addition, wide-body aircraft are more complex than narrow-body aircraft since they are designed & crafted with more components. Therefore, the requirement for MRO services is relatively higher for wide-body aircraft to ensure its smooth functioning. Hence, the expanded usage of these aircraft types has amplified commercial aviation’s share in the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services market.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Key Factor Driver Aircraft Maintenance, Repair and Overhaul (MRO) Services Industry Growth by 2029
Extensive Air Cargo Delivery & Air Travel Driving Market Growth – Over the past few years, air traffic has consistently increased due to the surge in the transportation of goods via air and the rising tourism across the globe. Air cargo is crucial for perishable goods transportation like pharmaceuticals, seafood, vaccines, etc., since it provides timely delivery of these goods and ensures the preservation of the quality & shelf life of the goods.
According to the International Air Transport Association, in 2022, Air Cargo transports over USD 6 trillion worth of goods annually and accounts for approximately 35% of world trade. In addition, valuable & expensive products like electronics and other luxury goods are transported from one country to the destination via air to reduce the risk of theft. This rising usage of aircraft for the delivery of goods is resulting in a surge in aircraft utilization rates. As a result, the aircraft are more prone to some failures in aircraft systems and components. Thus, cargo operators such as DHL Aviation, Emirates SkyCargo, etc., are going for Aircraft MRO Services to ensure the smooth functioning of the aircraft.
Who are the Key Players Operating in the Aircraft Maintenance, Repair and Overhaul (MRO) Services Industry?
The top companies of the Aircraft Maintenance, Repair and Overhaul (MRO) Services market ruling the industry are:
- Delta TechOps
- Lufthansa Technik AG
- Financial Details
- Air France Industries KLM Engineering & Maintenance
- Hong Kong Aircraft Engineering Company Limited (HAECO)
- PT GMF Aeroasia TBK
- Avia Solutions Group PLC
- StandardAero
- Emirates Engineering
- MTU Aero Engines AG
- Singapore Technologies Engineering Ltd
- Tap Maintenance & Engineering Ltd.
- AAR Corporation
- Textron Aviation, Inc.
- Euravia Engineering & Supply Co. Ltd
- Air India Engineering Services Ltd
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the Aircraft Maintenance, Repair and Overhaul (MRO) Services Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the Aircraft Maintenance, Repair and Overhaul (MRO) Services industry?
- Which is the Leading segment in the market?
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