Dublin, May 24, 2024 (GLOBE NEWSWIRE) -- The "European Avionics MRO Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The European avionics MRO market is likely to grow at a promising CAGR of 2.1% in the long run to reach US$ 945 Million in 2028.
Based on the aircraft type, the European avionics MRO market is segmented into narrow-body aircraft, wide-body aircraft, regional jets, and turboprops. Narrow-body aircraft is expected to remain the largest and the fastest-growing aircraft in the market during the forecast period. Narrow-body aircraft constitute the majority of the commercial aircraft fleet in Europe. Airlines operating in the region rely heavily on these aircraft for their short-haul and regional flight operations. It is anticipated that the production rates of various narrow-body aircraft will witness an upsurge, consequently, leading to a substantial increase in market demand in the forthcoming years, for instance, during the first quarter of 2023, a total of 67 single-aisle aircraft were delivered in the European region.
Based on the application type, the market is segmented into navigation/communication, weather/mission radar, flight recorders, electronic flight displays, flight management systems, and others. Navigation/communication is expected to remain the dominant application in the market during the forecast period fuelled by rapidly evolving advancements in communication, navigation, and surveillance (CNS) technologies. In addition to that, Aging aircraft, system upgrades, and strict regulatory requirements are expected to increase the demand for MRO of these components. Electronic flight displays are anticipated to experience rapid growth, primarily due to the growing demand for advanced and high-resolution displays, which enhance readability and reduce pilot workload.
In terms of sub-regions, Western Europe is expected to remain the biggest demand generator for avionics MRO in Europe during the forecast period driven by the presence of a huge number of MRO providers and airlines in the region (more than 30 avionics MRO providers in the UK including big players such as STG Aerospace, Ametek MRO, and Air Atlanta Aviaservices). The Russia-Ukraine war played a major role in the dominance of Western Europe as most of the global players and OEMs backed off from Russia, the biggest market in Eastern Europe to other Eastern and Western European countries.
Recent Market JVs and Acquisitions
A fair number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:
- In November 2023, Panasonic Avionics Corporation entered into a strategic partnership with Sky Perfect JSAT (JSAT) to bolster their in-flight connectivity (IFC) capabilities and partnered with Airbus on a high-bandwidth connectivity solution.
- In October 2023, Ametek MRO merged Avtech Avionics & Instruments with Muirhead Avionics to form a top-tier European facility.
- In April 2023, Honeywell Aerospace expanded its partnership with AJW Group, making them their sole aftermarket distributor for all Honeywell B787 mechanical and avionics line replacement units.
COVID-19 Impact
In the year 2020, the sudden outburst of the pandemic affected the entire aviation industry in terms of both, production, and services. Avionics MRO relies on the global supply chain and the disruption due to COVID-19 pandemic, leading to delays in parts availability and logistics challenges. In addition to that, changing geopolitical conditions also impacted the recovery trajectory of the overall commercial aerospace industry, which, in turn, has impacted the recovery of its stakeholders including MRO providers in the year 2021.
Avionics MRO, a sizeable market, could not escape from such trends and witnessed a colossal decline of over 40% in 2020 amid the pandemic. However, the industry gradually rebounded in 2021 and it is estimated that the MRO industry is likely to regain its pre-covid stage by 2024. Later at the beginning of 2023, the Russo-Ukraine war affected the avionics MRO market in Europe, especially Eastern Europe in terms of supply chain, and OEM sanctions resulted in major players backing off from the country. Furthermore, an incessant shift from Russia to other European countries is likely to give impetus to the demand for MRO services.
Key Players
The following are the key players in the European avionics MRO market:
- Thales Group
- Honeywell International
- Collins Aerospace
- Lufthansa Technik AG
- Panasonic Avionics Corporation
- Ametek MRO
- Cobham Aerospace Communications
- Diehl Aviation
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
Key Topics Covered
1. Executive Summary: A Bird's Eye View of the Market
2. Market Environment Analysis: Study of Factors Affecting the Market Dynamics
2.1. Supply Chain Analysis (Identification of Key Players/Materials across the Value Chain)
2.2. PEST Analysis (List of All Factors Directly or Indirectly Affecting the Market Demand)
2.3. Industry Life Cycle Analysis (Current and Future Lifecycle Stage of the Market)
2.4. Key Trends (Key Industry as well as Market Trends Shaping the Market Dynamics)
2.5. Market Drivers (Study of Drivers and their Short- and Long-Term Impacts)
2.6. Market Challenges (Study of Factors Hindrance the Adoption/Growth)
3. European Avionics MRO Market Assessment (2017-2028) (US$ Million)
3.1. Contribution of European Avionics MRO in the Global Overall and Component MRO Market
3.2. European Avionics MRO Market Trend and Forecast (US$ Million)
3.3. Market Scenario Analysis: Growth Trajectories in Different Market Conditions
3.4. COVID-19 Impact Assessment and Expected Recovery Curve
4. European Avionics MRO Market Segments' Analysis (2017-2028) (US$ Million)
4.1. Aircraft-Type Analysis
4.1.1. Narrow-Body Aircraft: Regional Trend and Forecast (US$ Million)
4.1.2. Wide-Body Aircraft: Regional Trend and Forecast (US$ Million)
4.1.3. Regional Jets: Regional Trend and Forecast (US$ Million)
4.1.4. Turboprop: Regional Trend and Forecast (US$ Million)
4.2. Application-Type Analysis
4.2.1. Navigation/Communication: Regional Trend and Forecast (US$ Million)
4.2.2. Weather/Mission Radar: Regional Trend and Forecast (US$ Million)
4.2.3. Flight Recorders: Regional Trend and Forecast (US$ Million)
4.2.4. Electronic Flight Displays: Regional Trend and Forecast (US$ Million)
4.2.5. Flight Management System: Regional Trend and Forecast (US$ Million)
4.2.6. Others: Regional Trend and Forecast (US$ Million)
4.3. Sub-Regional Analysis
4.3.1. Eastern European Avionics MRO Market: Country Analysis
4.3.1.1. Russian Avionics MRO Market T&F (US$ Million)
4.3.1.2. Other Eastern European MRO Market T&F (US$ Million)
4.3.2. Western European Avionics MRO Market: Country Analysis
4.3.2.1. German Avionics MRO Market T&F (US$ Million)
4.3.2.2. French Avionics MRO Market T&F (US$ Million)
4.3.2.3. The UK's Avionics MRO Market T&F (US$ Million)
4.3.2.4. Other Western European Avionics MRO Market T&F (US$ Million)
5. Competitive Analysis
5.1. Degree of Competition (Current Stage of Competition based on Market Consolidation)
5.2. Competitive Landscape (Benchmarking of Key Players in Crucial Parameters)
5.3. Market Share Analysis (Key Players and their Respective Shares)
5.4. M&As, JVs, Collaborations, Strategic Alliances, etc. (Map All the Major M&As and JVs)
5.5. Porter's Five Forces Analysis (A Bird's Eye View of the Overall Competitive Landscape)
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Aircraft Type
6.1.2. Market Attractiveness by Application Type
6.1.3. Market Attractiveness by Sub-Region
6.1.4. Market Attractiveness by Country
6.2. Emerging Trends (Key Trends that May Shape the Market Dynamics in the Future)
6.3. Key Strategic Implications (Changing Market Dynamics and their Key Implications)
6.4. Key Success Factors (KSFs) (Identifying Some Factors that May Help Companies to Gain Business)
7. Company Profiles of Key Players (Alphabetically Arranged)
7.1. Ametek MRO
7.2. BAE Systems plc
7.3. Cobham Aerospace Communications
7.4. Collins Aerospace
7.5. Diehl Aviation
7.6. ExecuJet MRO Services
7.7. Honeywell International
7.8. Lufthansa Technik AG
7.9. Panasonic Avionics Corporation
7.10. Thales Group
8. Appendix
8.1. Disclaimer
8.2. Copyright
8.3. Abbreviation
8.4. Currency Exchange
8.5. Market Numbers
For more information about this report visit https://www.researchandmarkets.com/r/avrjah
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