foreThe report “Air Transport M.R.O. Market by Type (Engine, Line, Airframes, Other Components), Service (Heavy Maintenance Inspection, Engine Service Check, Component Maintenance, Line Maintenance, Avionic Standardization, Aircraft Conversions), Application (Civil Air Transport M.R.O., Military Air Transport M.R.O.), Aircraft Type (Narrow Body, Wide Body, Regional Jet, Turbo Prop, Others (piston fixed wing, helicopters, etc.)) – Global Forecast to 2028″ The air transport M.R.O. market is projected to grow from USD 72.1 billion in 2021 and is projected to reach USD 92.8 billion by 2028; it is expected to grow at a CAGR of 4.30% from 2021 to 2028. The growth in air passenger traffic, fleet iterations, the need to increase operability & efficiency, and the requirement to disassemble, examine, and repair numerous aircraft parts will all be factors driving the air transport M.R.O. market, according to industry analysts. The continued focus on cost reduction through maintenance is one of the elements fueling the expansion of the air transport M.R.O. industry. Along with low global investments in the aviation sector, the market is also driven by weak economic growth in developed and emerging nations. However, the air transport M.R.O. industry's expansion is anticipated to be constrained by a lack of skilled labor and rising maintenance costs. Additionally, manufacturers are putting a lot of effort into integrating cutting-edge technologies, including blockchain technology, which allows end users to track M.R.O. activities and supports traceability, resilience, and coordinated integration. Therefore, it is projected that blockchain technology would provide manufacturers in the air transport M.R.O. industry attractive opportunities.
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The engine service check category in the air transport M.R.O. market is expected to be the fastest-growing segment during the forecast period
The engine service check segment is projected to grow the fastest during the forecast period. Field maintenance and depot maintenance are also included in engine M.R.O. Engines are subject to substantial repair, material maintenance, full or partial rebuilding, and parts assemblies during depot-level maintenance. It also includes testing, part manufacture, and technical help. On-equipment repair tasks and shop-style labor are included in field maintenance. Software upkeep, subassembly and commodity assembly repair, fabrication, or the production of repair parts are all examples of shop-type work.
Narrow body category of the air transport M.R.O. market to record the highest CAGR from 2022 to 2027
The narrow-body category is expected to account for the highest CAGR of the air transport M.R.O. market from 2022 to 2027. Smaller aircraft, known as narrow-body aircraft, are utilized for short-haul international and domestic flights. Due to its tiny size and short distance, a narrow-body aircraft may carry over 295 passengers. The fleet of narrow-body aircraft is a key component of the air transport M.R.O. sector. However, wide-body aircraft is anticipated to grow at the quickest rate during the predicted period. The rise in long-distance routes with heavy traffic connecting international destinations is to blame for the rise in demand for wide-body air transport maintenance and repair. Wide-body air transport M.R.O. service participation by O.E.M.s has expanded due to the establishment of numerous new wide-body aircraft production infrastructures in numerous nations during the past few years. The aircraft fleet growth opens up more options for O.E.M.s to supply air transport M.R.O. services.
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Asia Pacific is anticipated to grow at a significant rate in air transport M.R.O. market share from 2022 to 2027
Asia Pacific is the fastest-growing region in the air transport M.R.O. market. This results from increased air travel throughout the Asia-Pacific region and growth in middle-class travelers, particularly in nations like India, China, and Singapore. As airlines add new routes and aircraft, several airports are being built, causing the air transport M.R.O. business to grow. Several international and regional firms are engaging in strategic partnerships with O.E.M.s to develop effective M.R.O. services to address the expanding needs for aircraft servicing. As a result, industry participants can now develop technology-enabled M.R.O. services, which will further the market's growth.
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Market Players
Key players in the air transport M.R.O. market include Aerospace Industries (I.A.I.), United Technologies Corporation (Pratt and Whitney division), A.A.R. Corporation, Deutsche Lufthansa AG, John Swire & Sons (H.K.) Ltd., TIMCO Aviation Services, Inc., Delta TechOps, Airbus S.A.S.
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