Global Aviation Maintenance Repair Overhaul (MRO) Market is Expected to be Dominate by Engine MRO Segment through 2028
Growing need for passenger
safety might drive the growth of the global aviation maintenance repair
overhaul (MRO) market through 2028
According to TechSci Research
report, “Global Aviation Maintenance Repair Overhaul (MRO) Market -
Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-
2028F”, the global aviation maintenance repair overhaul (MRO) market
is expected to grow at a significant CAGR over the forecast period, driven by
the growing preference for easy user experience and safety. The process of
aircraft MRO involves the maintenance, repair, and overhaul of the aircraft and
its components. It is basically designed to perform the operational activities
and keep the aircraft in a safe and functional condition. The MRO service in
the aircraft is an integral and unavoidable part of any business. Several
factors are expected to contribute to the expansion of the global aviation MRO
market. Rapid urbanization, growing economies, especially in developing
countries, and an increase in business and tourism travel are some of the
factors that are driving the growth of the MRO services in the emerging
economies. In the aviation industry, the aircraft manufacturers, aircraft MRO
service providers, and aviation technology developers are increasingly using
blockchain technology to monitor their maintenance processes, making it more
popular among the airline companies.
The emerging economies are
highly focused on providing the MRO services to the commercial and military
aircraft manufacturers, resulting in an increased demand for MRO services. The
aviation industry infrastructure is growing along with the global economy, and
the number of passengers prefer air travelling. This is leading to an increase
in the sales of aircraft and an increase in the air travel demand. Furthermore,
environmental concerns highlight the need for continuous monitoring and
maintenance for older generation aircraft results in regular MRO services and
increasing demand for global aviation MRO market. Additionally, the growing
investments in MRO software to open new growth opportunities in the global
aviation MRO market. Aviation (MRO) software includes software components for
maintenance scheduling, monitoring, and tracking budget forecasting. According
to component type, the engine MRO is growing rapidly.
Major OEMs (Airbus and Boeing)
are increasing production levels and providing maintenance services for their
aircraft. Several companies are investing in the market research and
development of aviation MRO services and new partnerships to strengthen their
supply chain networks. In the year 2023, AAA Corporation completed the
Acquisition of Traxusa Corp., a premier independent aircraft (MRO) company and
a provider of fleet management software. In the year 2023, Boing announced the
establishment of a logistics centre in India to support its regional customers'
fleet management and maintenance recovery requirements. Furthermore, in the
same year, AAR concluded a distribution agreement with a subsidiary of Collins
aerospace mission systems, Cloud Cap Technology, to supply a supply chain and
provide sales support services. Overall, with above developments the global
aviation MRO market is anticipated to grow at higher rate in forecast period.
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The global aviation maintenance
repair overhaul (MRO) market is segmented based on aircraft type, component,
end user, company, and region. Based on aircraft type, the market is segmented
into fixed wing aircraft and rotary wing aircraft. Based on components, the
market is segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO,
landing gear MRO, and others. Based on end user, the market is divided into
commercial, military, and aviation. Further, the market is also divided into
regions wise, mainly, Asia-Pacific, North America, Europe & CIS, South
America, and Middle East & Africa.
According to component type, the
engine MRO is growing rapidly due to their regular MRO services to avoid engine
failure. Commercial aviation MRO market is leading the end user type with its
large fleet of aircrafts.
Key market players in the
aviation maintenance repair overhaul (MRO) market include:
- AAR Corporation
- Airbus SAS
- Boeing Company
- Bombardier Inc.
- Lockheed Martin Corporation
- GE Aviation
- ST Engineering
- Safran SA
- Lufthansa Technik AG
- Honeywell Aerospace
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“Continuous development in
features and technology in aviation MRO services drives the global aviation
maintenance repair overhaul (MRO) market. In addition, according to world bank
air passengers carried has increased by more than 28% in 2021 and is expected
to reach pre pandemic levels in 2023. Furthermore, the integration of advanced
technologies such block chain and MRO software further boost the MRO market.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Aviation Maintenance Repair
Overhaul (MRO) Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2018-2028, Segmented By Aircraft Type
(Fixed Wing Aircraft, Rotary Wing Aircraft), By Component (Engine MRO, Avionics
MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, Others), By End User
(Commercial, Military, Aviation), By Region and Competition” has
evaluated the future growth potential of global aviation maintenance repair
overhaul (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 the global aviation
maintenance repair overhaul (MRO) market.
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