Commercial Aircraft MRO Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, Netherlands, Sweden, China, Japan, India, South Korea, Singapore, Australia, Brazil, Mexico, Argentina, Saudi Arabia, Qatar, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Report ID: GMI3045
Commercial Aircraft MRO Market size is expected to grow substantially during the forecast period propelled by increasing air passenger, freight traffic, and proliferating low-cost carriers. Rising disposable income, improving tourism sector, and increasing networks of airliners are playing a major role in expanding the industry share till 2024.
Continuous requirement for refurbishment & maintenance of aircraft for optimum performance and complying to stringent government regulations are supporting the commercial aircraft MRO proliferation over the study timeframe. The introduction of efficient lean manufacturing techniques for producing aircraft along with the availability of multiple aircraft at varied price range is augmenting the market growth till 2024. Increasing preference of low-cost carriers with wide airline network is providing a positive outlook for the industry growth.
Aircraft manufacturers are continuously investing in their manufacturing facilities for increasing their aircraft production to meet customer demands and clear backlogs. For instance, in 2018, Boeing announced the increase in production of 747 aircraft by 52 units, thereby contributing significantly toward lowering the aircraft production backlog and improving its market share over the forecast timeframe.
Innovations in the MRO of aircraft including the incorporation of IoT systems, smart sensors, non-destructive inspection technologies, and RFID tagging are positively influencing the commercial aircraft MRO growth till 2024. The incorporation of these technologies for improving the operational efficiency and reducing the duration of aircraft downtime during MRO operations play a major role in expanding the business share over the forecast timeframe.
Higher costs associated with aircraft maintenance, repair, and overhaul operations may limit the market growth over the forecast timeframe. Higher priced spare components along with higher aircraft downtime duration owing to complex operations involved for maintaining such aircraft may hamper the commercial aircraft MRO share till 2024. However, the introduction of advanced sensors and RFID technologies enables industry participants to easily sort and group their components, contributing significantly toward lowering the time involved in aircraft MRO operations.
Based on MRO type, the commercial aircraft MRO is classified into airframe, engine, and components. The daily operation of an aircraft across long distance affects the performance of the components considerably. The requirement for continuous and periodic maintenance services for aircraft after definitive flight cycles along with the replacement of aging components to comply with stringent regulations and maintain the aircraft airworthiness contributes majorly toward enhancing the industry growth over the projected timeframe.
Asia Pacific will contribute significantly toward the commercial aircraft MRO marketplace. This growth is credited to the improving aviation sector across the region. Further, the increasing popularity of low-cost carriers along with the proliferating tourism sector is playing a major role in improving the industry share till 2024.
A few players in the commercial aircraft MRO marketplace include Airbus, Boeing Company, GE Aviation, Delta TechOps, ST Aerospace, Gameco, and MTU Aero Engines AG. The industry participants are engaged in strategic joint ventures and partnerships for increasing their market share. For instance, in 2016, Ramco Systems entered into a strategic partnership with Air France Industries KLM Engineering and Maintenance for an innovation lab in Singapore for developing innovative low-cost solutions for aircraft maintenance operations.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights?Comprehensive Research
- All-inclusive coverage
- In-depth and granular data (ex: information for 8 to 15 countries, with clients open to add to this list, in each report)
- Penetrative insights & latest trends
- Offers holistic understanding of the market
- Unique methodology
- Iterative in nature to eliminate errors
- Detailed methodology, scope, assumptions and data sources available for reference
- Committed to making a positive difference for our clients
- Given the nature of this industry, we are committed to ensure that our clients get maximum return on their investment in our services
- Every purchase comes with an option to obtain additional information:
- up to 10% of the original cost
- 45-minute analyst tele-call to obtain further clarity on the market.
- Global Market Insights, Inc. strictly adheres to PCI-DSS security norms.
- Only PCI-DSS compliant payment methods used for highest level of client data security
Connect with our sales team