The Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market size in the year 2022 was around USD 78.9 billion and it is estimated to grow at a CAGR of around 7.32% during the forecast period, i.e., 2024-29. According to MarkNtel Advisors Study.
Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Driver:
Extensive Air Cargo Delivery & Air Travel Driving Market Growth – Over the past few years, air traffic has consistently increased due to the surge in the transportation of goods via air and the rising tourism across the globe. Air cargo is crucial for perishable goods transportation like pharmaceuticals, seafood, vaccines, etc., since it provides timely delivery of these goods and ensures the preservation of the quality & shelf life of the goods.
According to the International Air Transport Association, in 2022, Air Cargo transports over USD 6 trillion worth of goods annually and accounts for approximately 35% of world trade. In addition, valuable & expensive products like electronics and other luxury goods are transported from one country to the destination via air to reduce the risk of theft. This rising usage of aircraft for the delivery of goods is resulting in a surge in aircraft utilization rates. As a result, the aircraft are more prone to some failures in aircraft systems and components. Thus, cargo operators such as DHL Aviation, Emirates SkyCargo, etc., are going for Aircraft MRO Services to ensure the smooth functioning of the aircraft.
Moreover, the rising net disposable income in countries like the UAE, Hong Kong, Germany, etc., and the increasing inclination of the Millennials & GenZ population towards exploration of different regions is leading to an increase in air travel. The surge in air travel is putting strain on aircraft components like engines, propellers, etc. Hence, the fleets of airlines like Go First, Akasa Air, etc., undergo regular maintenance, driving the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2029
- By Type of MRO
- Independent MRO- Market Size & Forecast 2019-2029F, USD Million
- Original Equipment Manufacturer (OEM) MRO- Market Size & Forecast 2019-2029F, USD Million
- Airline/Operator MRO- Market Size & Forecast 2019-2029F, USD Million
- By Service Type
- Airframe Maintenance- Market Size & Forecast 2019-2029F, USD Million
- Engine Overhaul- Market Size & Forecast 2019-2029F, USD Million
- Modification- Market Size & Forecast 2019-2029F, USD Million
- Component repair & Maintenance- Market Size & Forecast 2019-2029F, USD Million
- Line Maintenance- Market Size & Forecast 2019-2029F, USD Million
- By Type of Aircraft
- Commercial Aviation
- Narrow body Jet- Market Size & Forecast 2019-2029F, USD Million
- Widebody Jet- Market Size & Forecast 2019-2029F, USD Million
- Regional Jet- Market Size & Forecast 2019-2029F, USD Million
- Cargo- Market Size & Forecast 2019-2029F, USD Million
- General Aviation
- Single-Engine Piston Aircraft
- Twin-Engine Piston Aircraft
- Turboprop Aircraft
- Business Jets
- Amphibious Aircrafts
- Others (Rotorcraft, Aerobatic Aircraft, etc.)
- Military Aviation
- Fighter Aircraft
- Bomber Aircraft
- Reconnaissance Aircraft
- Special Mission Aircraft
- Others (Transport Aircraft, Trainer Aircraft, etc.)
- Commercial Aviation
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Delta TechOps, Lufthansa Technik AG, Air France Industries KLM Engineering & Maintenance, Hong Kong Aircraft Engineering Company Limited [HAECO], PT GMF Aeroasia TBK, Avia Solutions Group PLC, StandardAero, Emirates Engineering, MTU Aero Engines AG, Singapore Technologies Engineering Ltd, Tap Maintenance & Engineering Ltd., AAR Corporation, Textron Aviation, Inc., Euravia Engineering & Supply Co. Ltd, Air India Engineering Services Ltd, Others are looking forward to strengthening their market positions.
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