The Aviation MRO Market is projected to reach $87.43 billion by 2030, at a CAGR of 3.9% during the forecast period 2023–2030. The growth of the aviation MRO market is driven by the rising investments in aircraft MRO, the growth in air travel, and increasing government focus on the aviation sector. However, stringent regulations in the aviation sector restrain the growth of this market. Furthermore, the increasing demand for remote maintenance & repair systems is expected to create market growth opportunities.
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Growing Air Travel is Expected to Drive Aviation MRO Market Growth
The aviation industry and businesses at its periphery are experiencing robust growth with the expansion of the global population. Affordable air travel and the rising disposable income of the middle class are pushing passenger travel to a record level. This has influenced the demand for a new fleet of aircraft from airliners, boosting the MRO market's growth to ensure the availability and airworthiness of aircraft.
The air industry relies heavily on MRO services to keep aircraft in operational condition, and MRO providers work to minimize downtime and reduce costs for their customers. As airlines seek to improve efficiency and reduce costs, they increasingly outsource their MRO needs to specialized service providers who can offer cost-effective solutions and expertise in maintaining and repairing aircraft. The demand for MRO services is also driven by the increasing complexity of modern aircraft, which require specialized knowledge and equipment to maintain and repair. As aircraft become more advanced and incorporate new technologies, the demand for skilled technicians and engineers will increase, driving growth in the MRO industry.
In 2023, the Engine Overhaul Segment is Expected to Dominate the Aviation MRO Market
Based on service type, the aviation MRO market is segmented into engine overhaul, airframe maintenance, line maintenance, modification, and components. In 2023, the engine overhaul segment is expected to account for the largest share of the global aviation MRO market. Aircraft engines require immaculate maintenance, repair, and overhaul at various intervals throughout their lifetime. They are subject to extreme wear due to vibrations caused by rotating components. Moreover, constant exposure to varying climates results in physical and material stresses on the engine.
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In 2023, the Rotary-wing Aircraft Segment is Expected to Dominate the Aviation MRO Market
Based on aircraft type, the aviation MRO market is broadly segmented into fixed-wing aircraft and rotary-wing aircraft. In 2023, the rotary-wing aircraft segment is expected to account for the largest share of the global aviation MRO market. Rotary-wing aircraft, also known as rotorcraft or helicopters, are heavier-than-air aircraft with rotary wings, which use rotors to generate lift and propulsion.
Asia-Pacific: Largest Regional Market
Based on geography, the global aviation MRO market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the aviation MRO market.
Over the past decade, Asia-Pacific has become the fastest-growing in the world for airline activity and attracted global MRO players to enter the market and expand their consumer base. Rapid urbanization and rising economic growth in emerging countries with increased business and tourism boosted airline operations, which is expected to increase the demand for aviation MRO in this region. Various external factors, such as air traffic volume, global fleet size, and aircraft utilization, are also expected to significantly impact the market.
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Key Players:
The key players operating in the aviation MRO market are AAR CORP. (U.S.), Airbus SE (Netherlands), Delta Air Lines, Inc. (U.S.), Hong Kong Aircraft Engineering Company Limited (China), KLM UK Engineering Limited (U.K.), Lufthansa Technik AG (Germany), MTU Aero Engines AG (Germany), Raytheon Technologies Corporation (U.S.), Singapore Technologies Engineering Ltd (Singapore), and TAP Maintenance & Engineering (Portugal).
Scope of the report:
Aviation MRO Market, by Service Type
- Engine Overhaul
- Airframe Maintenance
- Line Maintenance
- Modification
- Components
Aviation MRO Market, by Aircraft Type
- Fixed-wing Aircraft
- Narrow-body
- Wide-body
- Regional Jet
- Turboprop
- Rotary-wing Aircraft
Aviation MRO Market, by Geography
- North America
- S.
- Canada
- Europe
- K.
- Germany
- France
- Italy
- Spain
- Ireland
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- UAE
- Saudi Arabia
- Jordan
- Rest of Middle East
- Africa
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