The aircraft MRO market was valued at US$ 49.80 billion in 2020 and is projected to reach US$ 68.35 billion by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.
With the rapidly growing aviation industry from the past few years, the demand for airline MRO services is also increasing. Emerging economies in APAC are highly focused on extending MRO services to commercial as well as military aircraft companies. Economic growth, increasing passengers, and growing aviation infrastructure spending across APAC are among the factors driving the growth of the aircraft MRO market. A few APAC countries such as Singapore, Malaysia, and Thailand produce a large amount of revenue from the aviation MRO market due to well-established MRO hubs. For instance, among the rest of APAC countries, Singapore dominates the market in the region due to its established hubs of MRO and significant presence of major industry players such as GE Aviation, Airbus, and Rolls-Royce. According to Wisconsin Economic Development Corporation (WEDC), Singapore comprises 120 aerospace companies, which almost holds one-quarter of the APAC’s MRO market players. Further, the rising number of middle-class travelers, especially in APAC countries such as India, China, and Singapore, is the main factor contributing to the growth of air travel, which is consequently increasing the need for aircraft MRO services in the region.
Major key players covered in this report:
- Barnes Group Inc
- Collins Aerospace
- Delta TechOps
- FLTechnics, UAB.
- GE Aviation
- Lufthansa Technik
- Rolls-Royce plc.
- Singapore Technologies Engineering Ltd
- Turkish Technic Inc.
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The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Aircraft MRO market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Aircraft MRO market segments and regions.
The research on the Aircraft MRO market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Aircraft MRO market on the basis of end user, product type, application, and demography for the forecast period 2022–2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Aircraft MRO market.
Aircraft MRO Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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