Dublin, Aug. 26, 2024 (GLOBE NEWSWIRE) -- The "Aircraft Maintenance, Repair and Overhaul (MRO) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Aircraft Maintenance, Repair and Overhaul (MRO) is estimated at US$49.1 Billion in 2023 and is projected to reach US$66.2 Billion by 2030, growing at a CAGR of 4.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the aircraft MRO market is driven by several factors. The increasing global air traffic, with more passengers and cargo being transported by air, necessitates frequent and comprehensive maintenance to ensure safety and efficiency. The aging fleet of commercial and military aircraft requires more intensive maintenance and overhaul services to extend their operational life.
Technological advancements, such as the implementation of IoT (Internet of Things) and AI (Artificial Intelligence) for predictive maintenance, have enhanced the capabilities of MRO services, making them more effective and cost-efficient. The expansion of low-cost carriers and regional airlines has increased the demand for MRO services to maintain their growing fleets.
Additionally, the aviation industry`s focus on sustainability has driven the need for more efficient and environmentally friendly MRO practices, such as using green technologies and materials. The rise of partnerships and collaborations between airlines and MRO providers has also facilitated access to advanced maintenance solutions and expertise, further driving market growth. As global aviation continues to expand, the MRO market is expected to see sustained growth, supported by ongoing innovations and the increasing complexity of modern aircraft systems.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Engine Overhaul segment, which is expected to reach US$28.2 Billion by 2030 with a CAGR of a 4.8%. The Components Maintenance segment is also set to grow at 5.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $10.3 Billion in 2023, and China, forecasted to grow at an impressive 6.7% CAGR to reach $8.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Collins Aerospace, Boeing Company, The, Bell Helicopter Textron, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 653 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $49.1 Billion |
| Forecasted Market Value (USD) by 2030 | $66.2 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Aircraft Maintenance, Repair and Overhaul (Aircraft MRO): A Definition
- Types of MRO Maintenance Activities
- Maintenance Schedules and Approval Systems
- Military Aircraft MRO
- Commercial Aircraft MRO
- Aircraft MRO Norms and Regulations: An Overview
- Aircraft MRO: Continuing Importance in Airworthiness Management to Propel Long-term Growth
- Competition
- Recent Market Activity
- Aircraft Maintenance, Repair and Overhaul (MRO) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- The Ever-Present Threat of Air Accidents Reinforces the Importance of MRO
- Despite the Strides Taken in Safe Flying, Ever-Present Threat of Plane Crashes Drives Emphasis on Airworthiness & Plane Maintenance: Global Number of Fatalities on Commercial Flights
- Commercial Aviation Industry: The Barometer of Health of the MRO Market
- Aging Aircraft Fleet Presents Opportunities for MRO Services
- Aging Aircraft & the Ensuing Need to Ensure Airworthiness of Older Airplanes to Spur Opportunities in the MRO Services Market
- Average Age (in Years) of Select Airlines Around the World
- Expanding Aircraft Fleet to Fuel Need for Routine MRO Services
- Expanding Global Aircraft Fleet to Inject a Steady Stream of Routine Maintenance Revenues for MRO Service Providers
- Corrosion & Fatigue Wear and Tear: The Most Important Aspect of MRO
- High Cost of Corrosion for the Transportation Industry Makes Corrosion Management Systems (CMS) an Integral Part of Aircraft MRO Programs: Percentage Breakdown of Cost of Corrosion by Industry
- Smart Assets Management & Focus on Predictive and Condition Based Maintenance Bodes Well for Aircraft MRO Services
- Aircraft Maintenance Decision System Based on Real-time Condition Monitoring Grows in Prominence
- Aircraft Big Data: A Key Enabler of Effective Condition Based Monitoring
- Rising Prominence of Nondestructive Evaluation & Inspection of Aircraft
- Use of Fillers in Aerospace Composites & Resultant High Risk of Moisture Infiltration Spurs Opportunities for Diagnostic NDT Testing for Crack & Corrosion Detection
- Avionics MRO Emerges into a Key Revenue Spinner
- Expanding Avionics Market Drives Parallel Opportunities for Avionics MRO in the Form of Avionics Upgrade
- As Defense Budgets Come Under Intense Pressure, Military MRO Market to be Impacted
- Defense Spending Trends Set Demand Dynamics for Military Electro Optics and Infrared Systems
- Low Cost Carriers (LCCs) Expand MRO Opportunity in Asia-Pacific
- Low Cost Airlines Market Gives Rise to Need for Right Sized MRO Practices and Procedures
- Need to Reduce Operating Costs Drives Growth in MRO Outsourcing Services
- Developing Countries Emerge as MRO Hubs
- Narrowing Wage Differentials Threaten to Disrupt MRO Outsourcing
- Growing Use of Composites in Airframes Drive MRO Providers to Offer Improved Tools and Techniques
- Engine MRO Segment Drives Aircraft MRO Market
- Cost Competitive PMA Certified Parts Grow in Importance in the MRO Market
- Threat of PMA Forces OEMs to Reevaluate their Role in the MRO Market
- Trend towards Digitization of MRO Operations
- Latest Technological Trends Transforming the Aircraft MRO Market
- Big Data to Transform Aviation Sector
- Cloud Services Gain Traction in MRO Industry
- Drones to Reduce Maintenance Time
- Digital Twins: The New Standard of Maintenance in Aviation Industry
- Aviation Maintenance: A Glance into Recent Technological Advancements
- Shortage of Skilled Technicians: A Major Challenge for Labor Intensive MRO Industry
FOCUS ON SELECT PLAYERS (Total 141 Featured)
- Collins Aerospace
- Boeing Company, The
- Bell Helicopter Textron, Inc.
- AAR Corporation
- Bombardier, Inc.
- AirNet II
- Etihad Airways
- Aviation Repair Technologies
- Barfield, Inc.
- Denel Aeronautics
- Asia Pacific Aerospace (APA) Pty., Ltd.
- Alpine Aerotech
- ASA - Airline Software Applications ApS
- CAMP Systems International Inc.
- Committee for Aviation and Space Industry Development (CASID)
For more information about this report visit https://www.researchandmarkets.com/r/ylihhv
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