Commercial Aircraft MRO Market

Commercial Aircraft MRO Market Size

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.

Market Highlights

The Commercial Aircraft MRO Market is expected to project a notable CAGR of 4% in 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% 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.

Figure - Market Analysis of Commercial Aircraft MRO Market

Commercial Aircraft MRO Market: Segments

The Manufacturing segment is expected to grow with a higher CAGR during 2022-32

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.

The Engine segment is expected to grow with a higher CAGR during 2022-32

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.

Figure - Market Analysis of Global Commercial Aircraft MRO Market

Market Dynamics

Growth Drivers

Increasing 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.

Restraint

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.

Commercial Aircraft MRO Market: Key Players

• Airbus

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• 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
• Safran SA
• Other Prominent Players

Commercial Aircraft MRO Market: Regions

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.

Impact of Covid-19 on Commercial Aircraft MRO Market

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.

Commercial Aircraft MRO Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Commercial Aircraft MRO Market report also contains analysis on:

Commercial Aircraft MRO Market Segments:

• By MRO Services 
  • Airframe
  • Engine
  • Component
  • Line
• By End-user 
  • Manufacturing
  • Logistics & Transport
  • Commercial Aircraft MRO Market Dynamics
  • Commercial Aircraft MRO Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Commercial Aircraft MRO Market Report Scope and Segmentation

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