Chicago, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The report "Air Transport MRO Market by Type (Engine, Line, Airframes, Other Components), Service (Heavy Maintenance Inspection, Engine Service Check, Component Maintenance, Line Maintenance, Avionic Standardization, Aircraft Conversions), Application (Civil Air Transport MRO, Military Air Transport MRO), Aircraft Type (Narrow Body, Wide Body, Regional Jet, Turbo Prop, Others (piston fixed wing, helicopters, etc.)) – Global Forecast to 2028" states that Air Transport MRO Market is projected to grow from USD 72.1 billion in 2021 and is projected to reach USD 92.8 billion by 2028; it is expected to grow at a CAGR of 4.30% from 2021 to 2028.
The growth in air passenger traffic, fleet iterations, the need to increase operability & efficiency, and the requirement to disassemble, examine, and repair numerous aircraft parts will all be factors driving the air transport MRO market, according to industry analysts. The continued focus on cost reduction through maintenance is one of the elements fueling the expansion of the air transport MRO industry. Along with low global investments in the aviation sector, the market is also driven by weak economic growth in developed and emerging nations. However, the air transport MRO industry's expansion is anticipated to be constrained by a lack of skilled labor and rising maintenance costs. Additionally, manufacturers are putting a lot of effort into integrating cutting-edge technologies, including blockchain technology, which allows end users to track MRO activities and supports traceability, resilience, and coordinated integration. Therefore, it is projected that blockchain technology would provide manufacturers in the air transport MRO industry attractive opportunities.
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Browse in-depth TOC on "Air Transport MRO Market"
264 – Tables
98– Figures
350 – Pages
Drivers, Restraints, Opportunities in Air Transport MRO Market:
Drivers: Rising number of airline passengers
Restraints: COVID-19 restrictions
Opportunities: Introduction of blockchain
Air Transport MRO Market Report Scope:
| Report Coverage | Details |
| Forecast Period | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR | 4.30% |
| 2028 Value Projection | USD 92.8 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 72.1 billion in 2021 |
| Historical Data for | 2018 to 2021 |
| Purchase Direct Report | Buy Now |
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Segmentation of Global Air transport MRO Market
Global Air transport MRO Market – By Type
- Engine
- Line
- Airframes
- Other Components
Global Air transport MRO Market – By Service
- Heavy Maintenance Inspection
- Engine Service Check
- Component Maintenance
- Line Maintenance
- Avionic Standardization
- Aircraft Conversions
Global Air transport MRO Market – By Application
- Civil Air Transport MRO
- Military Air Transport MRO
Global Air transport MRO Market – By Aircraft Type
- Narrow Body
- Wide Body
- Regional Jet
- Turbo Prop
- Others (piston fixed wing, helicopters, etc.)
The engine category is estimated to be the largest growth in the steam engine market during the forecast period
The engine category dominated the market. One important element contributing to the expansion of the air transport MRO market is O.E.M.'s involvement in engine maintenance activities. Field maintenance and depot maintenance are included in engine MRO Engines, parts, and subassemblies are thoroughly maintained, repaired, and rebuilt as part of depot-level maintenance. As opposed to shop-style work and on-equipment repair activities at the field level. Additionally, the Engine segment will get more active and competitive in the coming years. More O.E.M.s and MRO suppliers are collaborating to enhance engine manufacturing technology, expanding engine lifecycle and maintenance parameters. Compared to other aircraft parts and equipment, engines are seeing more uses of MRO services due to these considerations.
Military air transport MRO is estimated to be the largest growing market category during the forecast period
The military air transport MRO segment is projected to grow fastest during the forecast period. Since MRO businesses are transitioning from centralized maintenance diagnostic operations to prescriptive maintenance operations due to advancements in A.I. and analytics, the military sector has a higher stake. The global armed forces are putting more emphasis on routine engine maintenance and periodic inspections due to the complexity of engine parts and the rise in military aircraft crash caused by engine breakdowns.
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Top Air Transport MRO Market Companies:
- Aerospace Industries (I.A.I.)
- United Technologies Corporation (Pratt and Whitney division)
- A.A.R. Corporation
- Deutsche Lufthansa AG
- John Swire & Sons (H.K.) Ltd.
- TIMCO Aviation Services Inc.
- Delta TechOps
- Airbus S.A.S.
Recent Developments
- In August 2021, Airbus and Delta Air Lines agreed that the latter would increase its order of 30 new A321neo planes. With this arrangement, Delta Air Lines hopes to further its strategic fleet goal of streamlining operations, boosting productivity, and meeting financial goals.
- In March 2021, the joint venture between Air France Industries K.L.M. Engineering & Maintenance and Triumph Group to overhaul nacelles for next-generation aircraft in Triumph's repair facility in Hot Springs, Arkansas, was officially announced. Through this collaboration, Triumph and AFI KLM can use their combined strengths to service businesses worldwide with seamless global MRO
- In March 2021, the expansion of Barnes Aerospace's maintenance, repair, and overhaul plant in West Chester, Ohio, was announced. The West Chester MRO operation is an industry leader in complex machining operations and comprehensive inspection applications.
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Regional Insights:
Asia Pacific is anticipated to grow at a significant rate in air transport MRO market share from 2022 to 2027
Asia Pacific is the fastest-growing region in the air transport MRO market. This results from increased air travel throughout the Asia-Pacific region and growth in middle-class travelers, particularly in nations like India, China, and Singapore. As airlines add new routes and aircraft, several airports are being built, causing the air transport MRO business to grow. Several international and regional firms are engaging in strategic partnerships with O.E.M.s to develop effective MRO services to address the expanding needs for aircraft servicing. As a result, industry participants can now develop technology-enabled MRO services, which will further the market's growth.
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