Aviation MRO Market to Reach $ 113 Billion by 2025
Stringent airworthiness norms and policies to drive global
aviation MRO market
According to
TechSci Research report, “Global Aviation
MRO Market By Industry, By Component, By Aircraft
Type, By End User, By Region, Competition, Forecast & Opportunities, 2025”, the global aviation
MRO market is projected to reach $ 113 billion by 2025. Growing need to address
wear and tear of aircraft components is one of the major factors boosting the growth of global aviation MRO
market. Moreover, surging demand for low-cost carriers is expected to bode well
for the growth of global aviation MRO market during the forecast period. In
addition to this, digitalization of aircraft MRO services and supportive
government initiatives are positively influencing the global aviation MRO
market. Rising number of accidents caused due to carelessness in maintenance
activities, is leading to authorities tightening the norms for timely
maintenance and repair works, which in turn is bolstering the market growth.
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MRO Market"
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The improved
travel route networking is also aiding the market growth. The aging aircraft
fleet is increasing across the globe due to which the global aviation MRO
market is expected to rev up over the next five years. However, there are
certain factors that might act as major impediments to the growth of global aviation
MRO market during the forecast period such as lack of supportive infrastructure
in developing economies and high cost of aircraft downtime due to carrying out
of complex MRO operations.
Global aviation MRO
market can be segmented based on industry, component, aircraft type, end user, company,
and region. Considering the component segmentation, the market is fragmented
into engine, airframe, line, avionics, modifications, and others. The engine segment
dominated the global aviation MRO market in terms of largest market share in 2019
and is further anticipated to maintain its dominance during the forecast period
as well. SIA
Engineering Company, SR Technics, United Airlines, British Airways, HAECO
(Hongkong), AAR Corporation, Air-France Industries KLM Engineering &
Maintenance, Bombardier Inc., Delta TechOps, GE Aviation, Hong Kong Aircraft
Engineering Co. Ltd., Lufthansa Technik, MTU Aero Engines AG, Triumph Group,
Inc, among
others are the leading players operating in the global aviation MRO market.
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“North
America is forecast to dominate the global aviation MRO market over the next five
years. However, APAC is expected to witness faster growth during the forecast
period. Growing international trade coupled with aging aircraft fleet is
contributing to the growing trend. In addition, growing tourism along with the
availability of technologically advanced and next generation widebody aircraft
is further expected to boost the growth of global aviation MRO market in the
years to come.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Aviation MRO Market By Industry, By
Component, By Aircraft Type, By End User, By Region, Competition, Forecast
& Opportunities, 2025” has evaluated
the future growth potential of global aviation MRO market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global aviation MRO market.
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