USD 74.84 billion
Report ID: SQMIG20S2009 | Region: Global | Published Date: September, 2022 | Pages: 285 | Tables: 120 | Figures: 77
Aircraft MRO Market size was valued at USD 74.84 billion in 2021 and is poised to grow from USD 78.6 billion in 2022 to USD 122.14 billion by 2030, growing at a CAGR of 5.02% in the forecast period (2023-2030).
Rapid urbanization and rising economic growth in emerging countries, along with increased business and tourism travel, are likely to drive market expansion. External factors such as air traffic volumes, global fleet size, and aircraft utilization are projected to have a substantial impact on the industry. Furthermore, rising air travel by individuals for business and pleasure is predicted to increase aircraft production, having a significant impact on the market.
US Aircraft MRO Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 74.84 billion
To get more reports on the above market click here to Buy The Report
The global aircraft MRO market is segmented based on service type, organization type, aircraft type, aircraft generation, and region. based on service type, the market is segmented into engine overhaul, airframe maintenance, line maintenance, modification, components.
Based on organization type, the market is segmented into airline/operator MRO, independent MRO, original equipment manufacturer (OEM) MRO. Based on aircraft type, the market is segmented into narrow-body, wide-body, regional jet, others. Based on aircraft generation, the market is segmented into old generation, mid generation, new generation. Based on region, the market is categorized into North America, Europe, Asia-Pacific, and MEA.
Aircraft MRO Market Analysis by service type
In 2022, the engine overhaul segment dominated the global aircraft MRO market and is likely to maintain its dominance throughout the forecast period. OEM involvement in engine repair activity is a crucial driver driving growth in the aircraft MRO sector. Engine MRO encompasses both field and depot maintenance. Depot-level maintenance comprises extensive maintenance, repair, and complete rebuilding of engines, parts, and subassemblies. Field level maintenance shop type work and on-equipment maintenance tasks.
To get detailed analysis on other segments, Request For Sample Report
Asia Pacific accounted for the largest market share in 2022 and is predicted to remain the dominant region with the fastest CAGR over the forecast period. The Asia Pacific region operates one-third of all global aircraft, and this figure is likely to rise throughout the forecast period. Because of innovative and widely available MRO alternatives, airlines in this industry can extend the life of their air fleets. MRO providers frequently target the Asia Pacific market because it provides them with additional clients, attractive investment options, and lower labor costs.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Aircraft MRO Market Opportunity
Rising in aviation MRO software is accelerating market growth
Aircraft MRO Market Challenge
Labour shortages and rising material costs are posing challenges to the market
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The aviation MRO market is prevalent worldwide since practically every country has airports, and airplanes can require maintenance, repair, and operating help anywhere and at any time. Because demand is driven by need, the market is highly fragmented, with competitors providing varying levels of service. As technology advances at a quick pace, the number of new participants in the airplane MRO market is rapidly increasing. The established companies in this sector have been able to tighten their grip on the industry by expanding operations around the world.
Aircraft MRO Market Top Players Company Profiles
Aircraft MRO Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to the global aircraft MRO market report analysis, a growing number of air passenger carriers, as a result of an increasing number of passengers preferring to fly, is predicted to increase demand for MRO facilities. The loosening of restrictions on foreign direct investment in the airline industry is encouraging airlines to outsource maintenance tasks to ensure the seamless operation of aircraft. The aircraft market will experience rapid expansion, owing to an increase in the number of air passengers travelling each year as a result of increased flight frequencies, lower ticket prices, and route availability. These factors are expected to enhance the demand and necessity for MRO services, hence promoting industry growth.
|Market size value in 2021||USD 74.84 billion|
|Market size value in 2030||USD 122.14 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Aircraft MRO Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aircraft MRO Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aircraft MRO Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aircraft MRO Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.