22 July 2020
Visiongain has launched a new report Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market Report 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.
Global commercial aircraft maintenance, repair, & overhaul (MRO) market size was valued at US$ xx million in 2019 and is anticipated to reach US$xx million in 2025 while growing at a CAGR of xx% from 2020-2025. Visiongain anticipates that the global commercial aircraft maintenance, repair & overhaul (MRO) market size is further anticipated to reach US$ xx million by 2030. The overall CAGR for the global commercial aircraft maintenance, repair, & overhaul (MRO) market is expected to be xx% from 2020-2030.
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.
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
• Eaton Corporation
• A J Walter Aviation Limited
• United Aircraft Corporation
• ST Engineering Aerospace
• RUAG Holding
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to firstname.lastname@example.org or call her on +44 (0) 20 7549 9987.
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.
The foundation for effective ground and flight testing in the aviation industry is the development of safe and reliable measurement technology. Over the forecast period, this is expected to fuel the global aviation test equipment market.
01 April 2021
The increasing application of radar systems in wake of emerging demand for unmanned vehicles, and growing demand of radar systems for homeland security purpose is expected to drive the growth of the radar systems market over the forecast years.
24 March 2021
The civil & commercial application drones are projected to grow in high demand over the forecast timeframe. This growth in demand can be credited to the rising adoption of small drones for several civil & commercial applications, for instance, remote sensing, mapping monitoring, and surveying.
24 March 2021
The growing demand for uninterrupted communication in several businesses, along with the growing number of connected and autonomous vehicles have resulted in raising the focus of satellite manufacturing companies and associated firms active in the industry.