Dublin, April 28, 2023 (GLOBE NEWSWIRE) -- The "Aviation MRO Market by Service Type, Aircraft Type, & Geography - Global Forecasts to 2030" report has been added to ResearchAndMarkets.com's offering.
The research report provides in-depth analysis of aviation MRO market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global aviation MRO market is projected to reach $87.43 billion by 2030, at a CAGR of 3.9% during the forecast period of 2023-2030.
The growth of the aviation MRO market is driven by the rising investments in aircraft MRO, the growth in air travel, and increasing government focus on the aviation sector. However, stringent regulations in the aviation sector restrain the growth of this market. The increasing demand for remote maintenance & repair systems is expected to create market growth opportunities. However, the shortage of trained personnel is a challenge for the players operating in this market. Additionally, digital MRO is a prominent trend in the aviation MRO market.
Based on service type, the aviation MRO market is segmented into engine overhaul, airframe maintenance, line maintenance, modification, and components. In 2023, the engine overhaul segment is expected to account for the largest share of the global aviation MRO market. This segment is also projected to register the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing need to inspect aircraft engines, the rising demand for new aircraft engines, and the growing need to conduct a mechanical inspection of an aircraft engine to diagnose any potential problems.
Based on aircraft type, the aviation MRO market is broadly segmented into fixed-wing aircraft and rotary-wing aircraft. In 2023, the fixed-wing aircraft segment is expected to account for the largest share of the global aviation MRO market. The large market share of this segment is mainly attributed to the increasing need to ensure the safety and reliability of fixed-wing aircraft, the need for maintenance and repair of various fixed-wing aircraft components, and the growing need to perform overhaul and repair services on engines, avionics, landing gear in fixed-wing aircraft. However, the rotary-wing aircraft segment is projected to register the highest CAGR during the forecast period.
Based on geography, the global aviation MRO market is segmented into five major regions: Europe, Asia-pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global aviation MRO market, followed by North America, Europe, Latin America, and the Middle East & Africa. The large market share of this segment is attributed to the increasing demand for engine MRO services, the growing need to ensure compliance with the regulatory requirements set by aviation authorities, and the increasing need to extend the life of an aircraft and ensure its airworthiness, safety, and reliability.
The region has experienced significant growth in the aircraft fleet over the past decade, which has increased the demand for engine MRO services and is expected to lead the market during the forecast period. This has resulted in several MRO service providers from the U.S. and Europe establishing their maintenance facilities in this region. Also, several airlines have partnered with engine MRO service providers to develop in-house capabilities and reduce overseas maintenance costs. Such developments are driving the growth of the aviation MRO market in Asia-Pacific.
Key Players:
The key players operating in the aviation MRO market are AAR CORP. (U.S.), Airbus SE (Netherlands), Delta Air Lines, Inc. (U.S.), Hong Kong Aircraft Engineering Company Limited (China), KLM UK Engineering Limited (U.K.), Lufthansa Technik AG (Germany), MTU Aero Engines AG (Germany), Raytheon Technologies Corporation (U.S.), Singapore Technologies Engineering Ltd. (Singapore), and TAP Maintenance & Engineering (Portugal).
Key questions answered in the report:
- Which are the high growth market segments in terms of service type, aircraft type and countries?
- What is the historical aviation MRO market across the globe?
- What are the market forecasts and estimates from 2023-2030?
- What are the major drivers, restraints, and opportunities in the global aviation MRO market?
- Who are the major players in the global aviation MRO market, and what shares of the market do they hold?
- Who are the major players in various countries, and what shares of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global aviation MRO market?
- What are the different strategies adopted by the major players in the global aviation MRO market?
- What are the geographical trends and high growth countries?
- Who are the local emerging players in the global aviation MRO market and how do they compete with the other players?
Scope of the report:
Aviation MRO Market, by Service Type
- Engine Overhaul
- Airframe Maintenance
- Line Maintenance
- Modification
- Components
Aviation MRO Market, by Aircraft Type
- Fixed-wing Aircraft
- Narrow-body
- Wide-body
- Regional Jet
- Turboprop
- Rotary-wing Aircraft
Aviation MRO Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Ireland
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- UAE
- Saudi Arabia
- Jordan
- Rest of Middle East
- Africa
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Impact Analysis of Market Drivers, Restraints, Opportunities, and Challenges
4.3. Trends
4.3.1. Digital MRO
4.4. Case Studies
4.4.1. Client: Sierra West Airlines (U.S.)
4.4.2. Client: U.S.-Based Airline Company (U.S.)
5. Global Aviation MRO Market, by Service Type
6. Global Aviation MRO Market, by Aircraft Type
7. Aviation MRO Market, by Geography
8. Competitive Landscape
9. Company Profiles
10. Appendix
Companies Mentioned
- AAR CORP. (U.S.)
- Airbus SE (Netherlands)
- Delta Air Lines Inc. (U.S.)
- Hong Kong Aircraft Engineering Company Limited (China)
- KLM UK Engineering Limited (U.K.)
- Lufthansa Technik AG (Germany)
- MTU Aero Engines AG (Germany)
- Raytheon Technologies Corporation (U.S.)
- Singapore Technologies Engineering Ltd. (Singapore)
- TAP Maintenance & Engineering (Portugal).
For more information about this report visit https://www.researchandmarkets.com/r/oxfmhx
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