Top 20 Commercial Aircraft Maintenance, Repair & Overhaul (MRO) market is projected to grow at a CAGR of 4.3% by 2033: Visiongain


Visiongain has published a new report entitled Top 20 Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Companies 2023: Forecasts by End-user (Passenger Airline, Cargo Airline), by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft), by Service Provider (Original Equipment Manufacturers (OEMs), Independent MRO Service Providers, Airlines' In-House MRO Facilities, Other), by Maintenance Type (Line Maintenance, Base Maintenance, Engine Maintenance, Component Maintenance, Other), by Component Type (Airframe, Engine, Landing Gear, Avionics, Interiors, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.

The global top 20 commercial aircraft maintenance, repair & overhaul (MRO) market was valued at US$83.0 billion in 2022 and is projected to grow at a CAGR of 4.3% during the forecast period 2023-2033.

Cost-Efficiency Initiatives: Optimizing Operational Expenditure in Aviation

Airlines are under constant pressure to optimize operational costs while maintaining the highest safety standards. Outsourcing MRO services has emerged as a strategic approach for carriers to achieve cost-efficiency. MRO providers, with their specialized facilities and skilled workforce, offer economies of scale that airlines find economically advantageous. By outsourcing maintenance, airlines avoid hefty investments in establishing and maintaining in-house MRO facilities. Moreover, MRO providers can negotiate bulk deals on spare parts and materials, further reducing costs for their clients. This collaborative cost-efficiency approach ensures that airlines can focus their financial resources on expanding their routes and improving passenger experiences.

Download Exclusive Sample of Report
https://www.visiongain.com/report/top-20-mro-companies-market-2023/#download_sampe_div

How has COVID-19 had a significant negative impact on the Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market?

The COVID-19 pandemic had a profound impact on the Commercial Aircraft Maintenance, Repair & Overhaul (MRO) market, reshaping the industry landscape in unprecedented ways. As global air travel came to a virtual standstill due to lockdowns, travel restrictions, and reduced passenger demand, airlines faced severe financial challenges. Consequently, many airlines grounded significant portions of their fleets or even temporarily halted operations, leading to a reduced need for routine maintenance and MRO services.

This sudden decline in air travel had a cascading effect on the MRO market. Independent MRO providers, which often rely on airlines' demand for maintenance services, experienced a significant decrease in business. With reduced revenue and the uncertainty of the pandemic's duration, some MRO companies had to downsize their workforce or even temporarily suspend their operations. The shortage of incoming maintenance orders strained their financial sustainability.

Airlines faced complex decisions regarding their maintenance strategies. While some opted for minimal maintenance to preserve cash, others undertook opportunistic heavy maintenance projects during the downturn to ensure their aircraft were in top condition for the eventual rebound in travel demand. Additionally, airlines that had previously outsourced MRO services considered bringing some maintenance work in-house to cut costs and maintain control over their fleets.

Government support and financial aid were crucial for the survival of many airlines and MRO providers during this challenging period. As air travel gradually resumed, the MRO market started to recover, albeit at a slower pace than expected. Airlines faced the dilemma of optimizing their MRO budgets, given the unpredictability of travel demand and financial constraints. This situation prompted some to consider extending the intervals between maintenance checks to conserve resources.

How will this Report Benefit you?

Visiongain’s 217-page report provides 65 tables and 42 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global top 20 commercial aircraft maintenance, repair & overhaul (MRO) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Top 20 Commercial Aircraft Maintenance, Repair & Overhaul (MRO). Get financial analysis of the overall market and different segments including end-user, aircraft type, service provider, maintenance type, component type and capture higher market share. We believe that there are strong opportunities in this fast-growing top 20 commercial aircraft maintenance, repair & overhaul (MRO) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Global Expansion of Airlines: Meeting the Needs of Expanding Airline Fleets

The global aviation industry is experiencing continuous expansion, especially in emerging markets. This growth translates into an increased demand for commercial aircraft, leading to a larger fleet size. As airlines expand their operations, they require reliable MRO partners to ensure their aircraft remain airworthy and compliant with regulations. MRO providers, equipped with extensive infrastructure and expertise, cater to the maintenance needs of these expanding airline fleets. Whether it's routine checks, major repairs, or technological upgrades, MRO companies play a crucial role in supporting the seamless expansion of airlines worldwide.

Focus on Environmental Sustainability: Implementing Green Practices in MRO Operations

In recent years, there has been a growing emphasis on environmental sustainability within the aviation industry. MRO providers are actively embracing green practices to minimize their ecological impact. This includes recycling materials, adopting energy-efficient technologies, and implementing eco-friendly waste disposal methods. By reducing their carbon footprint, MRO companies align with global efforts to combat climate change. Airlines, too, are increasingly choosing MRO partners with strong environmental credentials, creating a symbiotic relationship where sustainability practices are mutually beneficial.

Get Detailed ToC
https://www.visiongain.com/report/top-20-mro-companies-market-2023/

Where are the Market Opportunities?

The Increasing Trend of Outsourcing MRO Services Allows Specialized Providers to Tap into a Growing Market

The burgeoning trend of outsourcing MRO services presents a significant opportunity for specialized providers to enter and thrive in a growing market. Airlines increasingly opt to partner with third-party MRO providers due to the expertise, efficiency, and cost-effectiveness these providers offer. This trend allows MRO companies to extend their services to multiple airlines, broadening their customer base and revenue streams. Independent MRO providers with specialized capabilities can offer tailored solutions for different aircraft types, enhancing their competitiveness in the market. As the aviation industry continues to expand, the demand for reliable and efficient MRO services is set to rise, creating an environment ripe for providers to establish themselves and meet the evolving needs of airlines.

The Rise of E-Commerce has Boosted Air Cargo Demand, Creating Opportunities for MRO Providers

The surge in e-commerce has led to an increased demand for air cargo services, presenting opportunities for MRO providers. Air cargo operations require aircraft that are maintained at optimal levels of performance and reliability to ensure timely and secure transportation of goods. MRO providers can capitalize on this trend by offering specialized maintenance services for cargo aircraft and related systems. Efficient maintenance practices contribute to reduced downtime, increased operational efficiency, and enhanced safety, crucial factors in meeting the demands of the growing air cargo market. By catering to the specific needs of cargo operators, MRO providers can position themselves to benefit from the continuous expansion of e-commerce-driven air cargo services.

Competitive Landscape

The major players operating in the top 20 commercial aircraft maintenance, repair & overhaul (MRO) market are AAR CORP, Aeroman, Air France Industries KLM Engineering & Maintenance, AirAsia Engineering, ANA Trading Corp, Aveos Fleet Performance Inc., British Airways Engineering, Delta TechOps, Etihad Airways Engineering, GE Aerospace, Korean Air Lines Co., Ltd., Lufthansa Technik AG, MTU Aero Engines AG, Sabena Technics, SIA Engineering Company, Singapore Technologies Engineering Ltd, TAP Maintenance & Engineering, Turkish Technic. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

  • 26 June 2023, AFI KLM E&M became part of the Pratt & Whitney GTF MRO network, enabling the disassembly, assembly, and testing of PW1500G model engines for Airbus A220 series aircraft. Recently, AFI KLM E&M achieved another milestone by successfully installing its first Pratt & Whitney GTF engine. This expansion of our capabilities reflects our commitment to incorporating the latest cutting-edge technology available today.
  • 20 June 2023, A long-term exclusive deal for MRO (maintenance, repair, and overhaul) services on the engines of the Airbus A320ceo and A320neo fleets of the Japanese airline was inked by StarFlyer and Lufthansa Technik. In accordance with the agreement, Lufthansa Technik will offer StarFlyer complete technical support for CFM56-5B and LEAP-1A engines well beyond the following ten years. As a result, the MRO business is growing its clientele in Asia for the cutting-edge CFM LEAP* engine.

To access the data contained in this document please email contactus@visiongain.com

Avoid missing out by staying informed – order our report now.

To find more Visiongain research reports on the Aviation sector, click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: contactus@visiongain.com

About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Contact

Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100
Email: contactus@visiongain.com
Web: www.visiongain.com