Visiongain has published a new report entitled Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market Report 2024-2034: Forecasts by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft), by Maintenance Type (Scheduled Maintenance, Unscheduled Maintenance, Preventive Maintenance, Predictive Maintenance), by Service Type (Engine Overhaul, Airframe Maintenance, Component Maintenance, Line Maintenance, Modification and Upgradation), by Component Type (Engine Components, Landing Gear Components, Avionics Components, Aircraft Interior Components, APU Components, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.

The global commercial aircraft maintenance, repair & overhaul (MRO) market was valued at US$78.5 billion in 2023 and is projected to grow at a CAGR of 5.1% during the forecast period 2024-2034.

Stringent Regulatory Requirements

Stringent regulatory requirements imposed by aviation authorities globally drive the demand for compliant commercial aircraft MRO services. Regulatory bodies, such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA), set strict standards for aircraft maintenance and airworthiness. Airlines must adhere to these regulations to ensure the safety of their operations. Complying with evolving regulatory standards necessitates frequent inspections, upgrades, and modifications, contributing to the growth of the MRO market.

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

The COVID-19 pandemic has exerted a profound and unprecedented impact on the Commercial Aircraft Maintenance, Repair & Overhaul (MRO) market. The aviation industry, a sector heavily reliant on global connectivity, faced severe disruptions as lockdowns, travel restrictions, and a sharp decline in passenger demand took hold. During the initial phases of the pandemic, airlines grounded significant portions of their fleets, leading to a decreased need for routine maintenance and MRO services. The resulting revenue downturn forced many MRO providers to reassess their operations, leading to workforce reductions and financial challenges.

Furthermore, the supply chain for aircraft components faced disruptions due to factory closures, logistic challenges, and a slowdown in production. This, in turn, impacted the availability of spare parts and components crucial for MRO activities. The uncertainty surrounding the duration and severity of the pandemic also prompted airlines to defer non-essential maintenance, contributing to a decline in demand for certain MRO services.

How will this Report Benefit you?

Visiongain’s 403-page report provides 122 tables and 163 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global 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 Commercial Aircraft Maintenance, Repair & Overhaul (MRO). Get financial analysis of the overall market and different segments including aircraft type, maintenance type, service type, and component type and capture higher market share. We believe that there are strong opportunities in this fast-growing 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?

Aging Aircraft Fleet and Fleet Renewal Programs

The global aviation industry grapples with the challenges posed by aging aircraft fleets, prompting the need for extensive maintenance and overhaul activities. Many airlines continue to operate older aircraft models that require specialized attention to ensure their continued airworthiness and extend their operational life. This involves comprehensive MRO efforts to address the unique maintenance requirements of aging components and systems. Simultaneously, the introduction of fleet renewal programs by airlines further contributes to the demand for MRO services. Fleet renewal involves the retirement of older aircraft and the introduction of new-generation, fuel-efficient models. MRO providers play a crucial role in facilitating this transition by adapting their capabilities to service and maintain modern fleets.

The Persistent Threat of Air Accidents and the Imperative of MRO Services

In the ever-evolving landscape of the aviation industry, the omnipresent threat of air accidents stands as a constant reminder of the paramount importance of Maintenance, Repair, and Overhaul (MRO) services. The safety and reliability of air travel are intricately linked to the meticulous maintenance of aircraft, thrusting the role of MRO services into the forefront of aviation operations. The industry is keenly aware that even the slightest oversight in maintenance procedures can potentially lead to catastrophic consequences. This heightened awareness is not merely a response to regulatory requirements but a proactive acknowledgment of the profound impact that rigorous maintenance practices have on averting accidents. In essence, MRO services have become the linchpin of aviation safety, with stakeholders recognizing that comprehensive and meticulous maintenance is a non-negotiable aspect of ensuring secure operations.

Where are the Market Opportunities?

Increased Outsourcing of MRO Services Creates Opportunities in the Global Market

A notable trend in the aviation industry is the increased outsourcing of MRO services to specialized third-party providers. Airlines opt for outsourcing to streamline their operations, reduce costs, and benefit from the expertise of dedicated MRO specialists. This approach allows airlines to focus on their core competencies, such as flight operations and customer service, while entrusting maintenance responsibilities to external experts. The outsourcing trend is particularly evident in heavy maintenance checks and component repairs. Asia has emerged as a prominent destination for outsourced MRO services due to cost advantages and the availability of high-quality service offerings.

Singapore's Changi Airport has become a hub for MRO activities, attracting airlines globally to outsource maintenance services. Airlines like Qantas and Emirates have engaged MRO providers in Asia for heavy maintenance tasks, illustrating the industry's increasing reliance on outsourcing for cost-effectiveness and specialized services.

The Upsurge in E-Commerce has Generated Heightened Demand for Air Cargo Services

The upsurge in e-commerce has generated heightened demand for air cargo services, creating lucrative opportunities for Maintenance, Repair, and Overhaul (MRO) providers. Air cargo operations necessitate aircraft that are meticulously maintained for optimal performance and reliability, ensuring the punctual and secure transportation of goods.

MRO providers can leverage this trend by offering specialized maintenance services tailored for cargo aircraft and their associated systems. Implementing efficient maintenance practices becomes paramount, contributing to minimized downtime, heightened operational efficiency, and bolstered safety measures critical elements in addressing the burgeoning requirements of the expanding air cargo market. By addressing the unique needs of cargo operators, MRO providers position themselves to thrive amidst the continual growth of e-commerce-driven air cargo services.

Competitive Landscape

The major players operating in the commercial aircraft maintenance, repair & overhaul (MRO) market are AAR Corp, Aeroman, Air France Industries KLM Engineering & Maintenance, Aveo’s Fleet Performance Inc, British Airways Engineering, Delta TechOps, Etihad Airways Engineering, GE Aerospace, Korean Air Lines Co., Ltd, 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

• 24 Nov 2023, AFI KLM E&M has been awarded a new contract with Akasa Air to provide a comprehensive package of flight-hour solutions, including repair services, spare parts, and logistical support.
• 18 Nov 2023, AAR CORP acquired Trax, a leading provider of aircraft MRO and fleet management software. This acquisition strengthens AAR's digital capabilities and allows them to offer a more comprehensive suite of MRO services to customers.

Notes for Editors

If you are interested in a more detailed overview of this report, please send an e-mail to contactus@visiongain.com or call +44 (0) 207 336 6100.

About Visiongain

Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.