Global Helicopter MRO Services Market

Helicopter MRO Services Market Size, Share, Growth Analysis, By Helicopter Type(Lightweight, Medium-Weight, Heavy-Weight Helicopters), By Application(Civil, Military Helicopters), By MRO Service Operators(Flight Inspection, Power By The Hour, Overhaul, Repairs), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20R2014 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 91 | Figures: 67

Helicopter MRO Services Market Insights

Helicopter MRO Services Market size was valued at US$ 7.68 billion in 2019, and it is expected to reach a value of US$ 11.23 billion by 2031, at a CAGR of 4.62% over the forecast period (2024-2031).

MRO, or maintenance, repair, and overhaul is the phrase used to describe a variety of maintenance procedures performed to maintain an aeroplane’s safety, functionality, and airworthiness. The activity of a helicopter requires regular maintenance and repair. To guarantee the safety of operations, travellers, and teams, it makes sure that rotorcraft are maintained in predefined airworthiness circumstances. A greater number of flights use enhanced composite materials every year. Particularly, the proportion of parts composed of glass, wood, or aramid fibres in helicopters has accelerated.

Digital MRO is the practice of performing maintenance, repair, and overhaul (MRO) operations using digital technologies like the Internet of Things, blockchain, artificial intelligence, robotics, augmented reality, virtual reality, digital twins, and 3D printing. These technologies speed up turnaround times and boost productivity. The MRO sector is evolving due to technology improvements, which are also spurring the creation of creative solutions.

US Helicopter MRO Services Market is poised to grow at a sustainable CAGR for the next forecast year.

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Helicopter MRO Services Market size was valued at US$ 7.68 billion in 2019, and it is expected to reach a value of US$ 11.23 billion by 2031, at a CAGR of 4.62% over the forecast period (2024-2031).

Companies are continually enhancing their products and strengthening their position in the market. Major players are developing strategies to increase their market position through partnerships, alliances, and agreements. Major firms' intentions for MRO service station expansion could have a significant impact on the market's growth in recent years. For instance, Erickson Inc. and Bell Textron Inc. reached an agreement in February 2021 to start the process of transferring the type certifications for the model 214ST and B/B1 helicopters to Erickson Inc. 'Airbus SAS (Netherlands)', 'Heli-One (Canada)', 'Honeywell International Inc. (US)', 'Leonardo S.p.An (Italy)', 'MTU Aero Engines AG (Germany)', 'Rolls-Royce Plc (UK)', 'Safran Group (France)', 'StandardAero (US)', 'Textron Inc. (US)', 'Raytheon Technologies Corporation (US)', 'United Technologies Corporation (US)'

Smart city initiatives are expanding in emerging nations like China and India. Governments are acting to enhance health care as a result. Continuing in the administration's shoes, several independent hospitals are making large investments in the construction of medical facilities. Major medical organisations employ these helicopters as air ambulances. This is due to the many benefits of air travel, which include safe and prompt access to any remote location. Additionally, the rate at which human organs are transported is rising constantly. The outlook for helicopters is probably going to get better during the projected timeline.

For the MRO engines to receive training and simulation, augmented reality (AR) is essential. Microsoft HoloLens AR eyewear has been used by businesses including KLM and the Royal Netherlands Aerospace Centre (NLR) for MRO training. This aluminium-based eyewear is intended to show trainees a scaled-down 3D model of the helicopter's parts and systems and to provide instruction. In particular, the expansion of international civil helicopter MRO suppliers has been aided by this.

In 2021, North America holds the highest proportion of the market for helicopter MRO services. The market is increasing as a result of more helicopters being delivered, more helicopters being used in commercial and civic activities across North America, and more modern helicopters being purchased in the United States. The area's growth may be accelerated by the existence of major helicopter MRO service suppliers and OEMs including ST Engineering, Aerospace, HAECO Group, AAR, and Aviation Technical Services.

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Global Helicopter MRO Services Market

Product ID: SQMIG20R2014