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Global Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market, 2020 to 2030: Visiongain Research Inc
Global Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market 2020-2030 Forecasts by Product (Engine MRO, Heavy Airframe Maintenance, Component MRO, Line Maintenance), by Aircraft Type (Narrowbody Aircraft, Widebody Aircraft, Regional Aircraft, Turboprop), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) Plus Analysis of Leading Companies operating in this industry.
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Growing demand for air transport in several regions, which is generating expansion of aircraft fleet sizes, with an impact on the capacity for aftermarket services such as MRO. On the other hand, fleet renewal with next-generation aircraft types such as the Boeing 787, 737 MAX, Airbus A350, and A320 neo is restraining the market as these types are more reliable and therefore do not need the same frequency of MRO services as their predecessors. Other factors such as the rising shares of OEMs, technological developments, and a market environment that is becoming increasingly competitive will also influence the market.
As for passenger aviation, the regional atmosphere is facing a tremendous market for air transport. It drives the airlines and the security forces to have their ships updated for the new technologies and to maintain interconnected reliable parts. Sanitation of new passenger aircraft is a significant phenomenon already emerging in the aviation industry. The phenomenon is projected to grow over the timeframe contributing to a tremendous opportunity for the manufacturers of aircraft parts and the companies Servicing, Repair, and Overhaul (MRO).
Aircraft refurbishment involves generators, landing gears, radars, and antennas among others. USM suppliers ensure the availability at lower prices and greater efficiency of some of the main aircraft parts, which raises competition among aircraft manufacturers. These initiatives, therefore, push the demands for air travel to use the market for usable products, since these are low-cost alternatives to OEM pieces. Also, numerous players in the aviation sector have penetrated USM space for air travel. The aircraft OEMs, product manufacturers, MROs have all tapped into the useful sector of air travel, pushing their production.
Modified serviceable materials (USMs) are parts found in withdrawn aircraft that are installed in in-service aircraft. Because they are substituted immediately in the service aircraft, this tends to reduce the aircraft servicing costs. Maintenance repair and overhaul (MRO) providers are adopting USMs to reduce the overall cost and time of their operations. The slow retirement trend of aircraft persists over the years, which is even projected to increase in the next several years. Rather than restoring and upgrading many pieces of an airliner, the aircraft customers, aircraft suppliers, and MRO service providers are gradually emphasizing the sourcing of existing component materials.
Every year, airlines expend a considerable sum on MRO operations to conform with the stringent regulations laid down by airworthiness authorities to ensure passenger and crew health. This forms a large part of their overall running costs. Given broad business and process awareness, MRO operation was until a couple of years ago a largely untapped sector by OEMs including Boeing, Airbus, Bombardier, and others. Nevertheless, these OEMs are increasingly becoming competitive in the MRO sector and are promoting emerging innovations such as aircraft maintenance software which is projected to greatly accelerate the MRO landscape.
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Specific engine engineering projects are now projected to be popular owing to a rise in aircraft modernization, environmental issues, and retirement requirements and legislation for older fleets. Many engine manufacturers concentrate on designing reliable and cost-effective engines for new fleets. Some of the key developments in this field are the increase of engine and non-motor maintenance of refurbished and used components. Demand for used aircraft parts is projected to increase over the next decade, powered by the worldwide rise over the retirement of older aircraft.
Leading Companies Operating in the Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market
Safran SA
Air France-KLM Group
Airbus Group
Honeywell Corporation
Rolls-Royce plc
General Dynamics Corporation
GE Aviation
United Technologies Corporation
Deutsche Lufthansa AG
MTU Aero Engines AG
Esterline Technologies Corp.
AAR Corporation
Boeing
Eaton Corporation
A J Walter Aviation Limited
United Aircraft Corporation
ST Engineering Aerospace
RUAG Holding
Embraer
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Visiongain is one of the fastest growing and most innovative, independent, market intelligence 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 cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.
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