Dublin, May 30, 2023 (GLOBE NEWSWIRE) -- The "Aviation MRO Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global aviation MRO market is expected to grow from $68.31 billion in 2022 to $73.34 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The aviation MRO market is expected to reach $95.40 billion in 2027 at a CAGR of 6.8%.
Growing air travel is expected to propel the growth of the aviation MRO market going forward. Air travel refers to traveling from one place to other by aircraft. Aviation MRO provides maintenance and repair services for aircraft which keeps the flights fit and in flyable condition at all times which is essential considering air travel is the most preferred mode of transport for international trips.
For instance, in April 2022, according to the International Air Transport Association, a Canada-based international trade union of international airlines and the demand for air travel increased by 78.7% as compared to April 2021. Furthermore, the association expects the total number of passengers to reach 7.8 billion by 2036. Therefore, the increasing air travel is driving the aviation MRO market.
Technological innovations are a key trend gaining popularity in the aviation MRO market. Major companies in the market are introducing innovative products such as Traxxall cloud-based MRO modules to sustain their position in the market. For instance, in September 2021, Traxxall, a US-based maintenance software company, launched its new MRO module for aircraft maintenance tracking, workforce and accounting. The new module is based on cloud technology and provides comprehensive visibility for ongoing projects, resource allocation, labor costs and billing.
In January 2023, Airbus Helicopters, a France-based manufacturer of commercial helicopters and airliners acquired ZF Luftfahrttechnik for an undisclosed amount. The acquisition broadens the company's MRO capabilities and improves its value proposition for its stakeholders. ZF Luftfahrttechnik is a Germany-based helicopter MRO services provider.
North America was the largest region in the aviation MRO market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the aviation MRO market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Executive Summary:
Aviation MRO Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aviation mro market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for aviation mro? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The aviation mro market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
1) By Service Type: Engine Overhaul; Airframe Maintenance; Line Maintenance; Modification; Other Service Types
2) By Aircraft Type: Narrow Body; Wide Body; Regional Jet; Other Aircraft Types
3) By End User: Original Equipment Manufacturer (OEM); Aircraft Operator; Other End Users
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $73.34 billion |
| Forecasted Market Value (USD) by 2027 | $95.4 billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Aviation MRO Market Characteristics
3. Aviation MRO Market Trends And Strategies
4. Aviation MRO Market - Macro Economic Scenario
5. Aviation MRO Market Size And Growth
6. Aviation MRO Market Segmentation
7. Aviation MRO Market Regional And Country Analysis
7.1. Global Aviation MRO Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Aviation MRO Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
A selection of companies mentioned in this report includes
- Delta Airlines Inc.
- AAR Corp.
- Hong Kong Aircraft Engineering Company Limited
- Airbus SE
- Singapore Technologies Engineering Limited
- KLM UK Engineering Limited
- Lufthansa Technik AG
- MTU Aero Engines AG
- Raytheon Technologies Corporation
- SIA Engineering Company Limited
- TAP Maintenance & Engineering (TAP Air Portugal)
- SR Technics AG
- British Airways Ltd.
- Air-France Industries KLM Engineering & Maintenance Group
- Bombardier Inc.
- GE Aviation Inc.
- L3Harris Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/apyjpr
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