Selbyville, Delaware, March 02, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on commercial aircraft MRO market which estimates the global market valuation for commercial aircraft MRO will cross US$ 121.5 billion by 2026. Rising deliveries of aircraft coupled with increasing air passenger travel will drive the market share.
Improving air passenger traffic along with rising aircraft production and deliveries are playing a major role in driving the commercial aircraft MRO market share over the projected timeframe. The emergence of low-cost carriers offering affordable flight tickets to multiple routes globally is boosting the business share. Moreover, the constant requirement for aircraft to function normally after a long duration flight will augment the industry size.
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Components will account for a significant share of more than 20% in the commercial aircraft MRO market share up to 2026. The constant and regular usage of components such as wheels & brakes, fuel systems, landing gear, electricals, etc. may lead to component wear and tear, which may result in a significant degradation in aircraft performance. Moreover, the components manufacturers are also offering long term service packages to the aircraft purchasers, thereby ensuring effective and efficient servicing without causing any delays.
Independent service providers are set to dominate the commercial aircraft MRO market with over 60% share over the projected timeframe. The business flexibility coupled with diversified maintenance, repair, and overhaul service alternatives is playing a major role in the segment share expansion. Moreover, independent service providers have highly skilled technicians and superior tools, equipment and machinery, that are going to play a major role in increasing its share over the projected timeframe.
Some major findings of the commercial aircraft MRO market report include:
- Increasing income spending capabilities along with rising demand for low-cost carriers are expected to boost the market share.
- Regulatory authorities and stringent policies for complying to strict airworthiness norms are positively influencing the market size.
- Companies are engaged in strategic mergers and acquisitions along with long term collaborations for improving their business share and improve margins.
Browse key industry insights spread across 141 pages with 181 market data tables & 21 figures & charts from the report, “Commercial Aircraft MRO Market Share & Forecast, 2020-2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/commercial-aircraft-mro-market
Regional jets are expected to showcase a notable growth rate of around 4.8% over the study period. These jets are ideal for connection to the network carrier hubs and airports. Moreover, aircraft manufacturers are currently investing in advanced technologies and lightweight materials, that will drive the way for innovative and efficient aircraft, thereby boosting the regional jets business share.
North America will hold more than a quarter of the overall commercial aircraft MRO market share through 2026. The increasing aircraft production coupled with rising tourism sector is providing a positive outlook for the regional share expansion. Additionally, aircraft manufacturers are facing huge backlogs for producing and delivering their aircraft, which is going to offer significant growth opportunities soon.
Major players operating in the commercial aircraft MRO market share are AAR Corporation, GE Aviation, United Technologies Corporation, and ST Aerospace among others. These players are engaged in strategic mergers and acquisitions for expanding their business share and improve their margins. For instance, in January 2019, Dassault Aviation signed a strategic agreement to acquire ExecuJet MRO operations. This strategic move enabled the company to strengthen its position in the Asia Pacific and Middle Eastern regions.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Commercial aircraft MRO industry 360⁰ synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. MRO Services trends
2.1.3. Service provider trends
2.1.4. Aircraft trends
2.1.5. Regional trends
Chapter 3. Commercial Aircraft MRO Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Cost structure analysis
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. Rising demand for low-cost carriers
3.7.1.2. The maintenance requirement for the in-service and aging fleet
3.7.1.3. Stringent airworthiness norms and policies
3.7.1.4. Digitalization of aircraft MRO services
3.7.2. Industry pitfalls & challenges
3.7.2.1. Higher costs associated with aircraft components and spare parts
3.7.2.2. Aircraft downtime due to carrying out of complex MRO operations
3.8. Innovation and sustainability
3.9. Growth potential analysis, 2018
3.10. Porter’s analysis
3.11. Competitive landscape, 2018
3.11.1. Top player analysis
3.11.2. Strategy dashboard
3.11.3. Key stakeholders
3.12. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.