USD 74.84 billion
Global Aircraft MRO Market Size, Share, Growth Analysis, By Service Type(Engine Overhaul, Airframe Maintenance), By Organization Type(Airline/Operator MRO, Independent MRO), By Aircraft Type(Narrow-body, Wide-body), By Aircraft Generation(Old Generation, Mid Generation) - Industry Forecast 2023-2030
Report ID: SQMIG20S2009 | Region: Global | Published Date: September, 2022 | Pages: 285 | Tables: 120 | Figures: 77
Global Aircraft MRO Market Insights
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.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Engine Overhaul
Fastest Growth
Engine Overhaul
Growth Rate
5.02% CAGR
Global Aircraft MRO Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Aircraft MRO Market Size By Service Type, 2021-2028 ($ Bn)
Global Aircraft MRO Market Size By Service Type, 2021-2028 (%)
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Global Aircraft MRO Market Segmental Analysis
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.
Global Aircraft MRO Market By Service Type, 2021 (%), 2021 (%)
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Global Aircraft MRO Market Regional Insights
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.
Global Aircraft MRO Market By Geography, 2021-2028, 2023-2030
- Largest
- Fastest
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Global Aircraft MRO Market Dynamics
Aircraft MRO Market Opportunity
Rising in aviation MRO software is accelerating market growth
- Rising investments in aviation MRO software is expected to create new growth prospects for the global Aircraft MRO market. Aircraft MRO software contains software components for maintenance monitoring, maintenance scheduling, logbook tracking, budget forecasting, manuals, flying time tracking, electronic task card management, service bulletin management, and work order administration.
- It also has elements that aid in compliance with regulatory agencies such as the FAA and ICAO. It is primarily used to streamline maintenance processes and reduce downtime. It has been extensively modified as a result of the changes related with big data and analytics in the aviation industry. This industry creates a massive quantity of data, which will help MRO companies improve operational efficiency and provide customized solutions that meet the needs of airlines.
Aircraft MRO Market Challenge
Labour shortages and rising material costs are posing challenges to the market
- The aircraft MRO industry is facing challenges due to manpower shortage, growing labour prices, an aging workforce, and a decline in interest in the maintenance technician job role among newly graduating engineers.
- Without a significant change, this pattern is expected to continue during the projected period. Right-shorting and outsourcing are two solutions that are more important to MRO businesses. Increasing material costs are becoming a major factor driving market expansion. MRO firms are attempting to shield themselves through strategic partnerships with OEMs. It will also aid in the real-time acquisition of aircraft parts and components.
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Global Aircraft MRO Market Competitive Landscape
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
- Airbus SE
- Boeing Company
- General Electric Company (GE Aviation)
- Lufthansa Technik AG
- Singapore Technologies Engineering Ltd. (ST Engineering)
- Air France-KLM SA (AFI KLM E&M)
- United Technologies Corporation (UTC Aerospace Systems and Pratt & Whitney)
- Delta Air Lines Inc. (Delta TechOps)
- Honeywell International Inc.
- Rolls-Royce Holdings plc
- Air Canada Technical Services (ACTS)
- Turkish Technic Inc.
- MTU Aero Engines AG
- SR Technics Switzerland AG
- HAECO Group
- China National Aviation Corporation (Group) Ltd. (CNAF)
- Bombardier Inc. (Lufthansa Bombardier Aviation Services)
- SIA Engineering Company Ltd. (SIAEC)
- AAR Corp.
- Textron Inc. (Textron Aviation Service)
Aircraft MRO Market Recent Development
- In November 2021, Safran Landing Systems announced the signing of a five-year deal with the Chinese airline China Eastern to perform landing gear repair on 31 Airbus A330 aircraft. These procedures will be carried out in Safran's Singapore facility.
- In October 2021, AAR, a prominent provider of MRO services to commercial and government operators, announced the renewal of its power-by-the-hour (PBH) component pool and repair support for flydubai's Boeing 737NG fleet. The new five-year deal expands on a 2016 partnership to provide comprehensive rotating component support for flydubai's 737NG fleet.
Global Aircraft MRO Key Market Trends
- The narrow-body aircrafts are smaller airplanes suitable for short-distance cross-border and domestic flights. Because of its small size narrow-body aircraft may carry over 295 passengers over a short distance route.
- The aircraft MRO sector is heavily reliant on a fleet of narrow-body aircraft. For example, Lufthansa Technik AG signed a total component maintenance agreement with Jet Airway's fleet of 80 Boeing 737NG in March 2018. The goal is to provide single parts repair at a flat fee using a closed-loop approach.
Global Aircraft MRO Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 74.84 billion |
| Market size value in 2030 | USD 122.14 billion |
| Growth Rate | 5.02% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aircraft MRO Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aircraft MRO Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
Customization Options
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.
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