Share
Commercial Aircraft MRO Market: By MRO Services (Airframe, Engine, Component, and Line), By End-user (Manufacturing, Logistics & Transport), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Commercial Aircraft MRO Market to surpass USD 112.7 billion by 2032 from USD 73.4 billion in 2021 at a CAGR of 4% throughout the forecast period 2022-32
Aircraft MRO refers to overhaul, inspection, repair, or modification of an aircraft or its components. Cargo and passenger aircraft hands heavily rely upon aircraft MRO solutions to provide safe and hassle-free flights. As producers of the airframe original equipment are focused on production and development and not on the aftermarket, the aircraft MRO industry has seemingly arisen as a profitable business in the aviation area.
Commercial Aircraft MRO Market to surpass USD 112.7 billion by 2032 from USD 73.4 billion in 2021 at a CAGR of 4% in the coming years, i.e., 2022-32. Increasing economic growth and rapid urbanization in emerging countries along with business & tourism travels are likely to augment the market growth. The maintenance, repair, and overhaul (MRO) market are conquered majorly by external factors which include aircraft utilization, global fleet size, and air traffic volumes. The growth in air travel needs more aircraft production, which will support the MRO industry.
Commercial Aircraft MRO Market is segmented by End-users into Manufacturing, Logistics & Transport. The manufacturing segment held a major share of the Commercial Aircraft MRO market. Manufacturing entities are aggressively implementing digital manufacturing technologies and Commercial Aircraft MRO Market plays an important role in such advanced technologies. The market is dignified for substantial growth in the near future in line with the strategic partnerships and association stakeholders are striking and the need for a linked supply chain to safeguard mobility, operational efficiency, and regulatory compliance, which is rising continuously.
Commercial Aircraft MRO Market is segmented by MRO services into Airframe, Engine, Component, and Line. Engine segment held a major share of the Commercial Aircraft MRO market. Engine MRO comprises field maintenance and depot maintenance forms. Depot-level maintenance entails material maintenance, major repair, overhaul, or complete rebuilding of engines, parts, and many others. It also includes the manufacturing of parts, technical assistance, and testing. Field-level maintenance comprises shop-type work and on-equipment preservation activities at levels different than depot maintenance. Many developments are expected to boost the engine MRO segment of the market during the forecast years.
Market DynamicsIncreasing Investments in Aircraft MRO Software
Increasing investments in aircraft MRO software are also projected to provide new growth opportunities. Aircraft MRO software comprises of software components for maintenance tracking, maintenance scheduling, logbook tracking, budget forecasting, manuals, flight time tracking, electronic job card management, service bulletins management, and work order management. It also includes features aiding compliance with regulatory organizations such as FAA and ICAO. It is mainly used to streamline maintenance processes and lessen work time. This industry produces a huge amount of information and data, which will benefit the MRO companies in improving their operational efficacy and providing customized services that cater to the demands of the airlines.
Growing Airline Passengers
Narrowbody aircraft or single-aisle aircraft is used to function short-haul cross-border flights and domestic flights are smaller-type aircraft. A narrowbody aircraft can carry up to 295 passengers owing to its small size and limited to short-distance journeys. The market is extremely dependent on private and commercial narrowbody aircraft. The growing application of such aircraft in the construction industry will further drive revenue generation.
Lack Of Skilled MRO Technicians
The Lack of Skilled MRO Technicians is the main hindering factor faced by the Commercial Aircraft MRO Market. The introduction of predictive maintenance caused a torrent of issues for the MRO sector, both technological and manpower-related.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Commercial Aircraft MRO Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific is estimated to contribute the largest share of the Commercial Aircraft MRO Market during the forecast period. Many of the chief market manufacturers are based in this region, and also the region has a great sum of startups and constructers working toward the growth of delivery robotic technology. The market in the region is projected to register the highest CAGR during the forecast period.
The ongoing COVID-19 pandemic has resulted in a full-scale crisis with the imposition of travel restrictions and the suspension of flights in a global effort to contain the spread of the virus. The aviation industry is in a survival approach, halted by the loss of traffic and revenues. The airlines are expected to record potential losses estimated to USD 280 million to USD 380 billion in gross operating revenues.
|
REPORT ATTRIBUTE |
DETAILS |
|
Market Size Value in 2021 |
USD 73.4 billion |
|
Revenue Forecast in 2032 |
USD 112.7 billion |
|
Growth Rate |
CAGR of 4% from 2022 to 2032 |
|
Base Year for Estimation |
2021 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
|
Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments Covered |
MRO Services, End-user, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key Companies Profiled |
Airbus, 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, Rolls-Royce plc, MTU Aero Engines AG, and Safran SA, and Other Prominent Players. |
The Commercial Aircraft MRO Market size was estimated at USD 73.4 billion in 2021 and is expected to reach USD 112.7 billion in 2032.
Aircraft MRO refers to overhaul, inspection, repair, or modification of an aircraft or its components. Cargo and passenger aircraft hands heavily rely upon aircraft MRO solutions to provide safe and hassle-free flights.
The Manufacturing segment and Engine segment accounted for the larger share of the Commercial Aircraft MRO Market.
Key players in the Commercial Aircraft MRO Market are Airbus, 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, Rolls-Royce plc, MTU Aero Engines AG, and Safran SA, and Other Prominent Players.
Increasing Investments in Aircraft MRO Software and Growing Airline Passengers are major factors that are projected to fuel the growth of the Commercial Aircraft MRO Market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
