(MENAFN – GetNews) Aircraft MRO Market Size, Share & Trends Analysis Report By Service Type (Engine Overhaul, Airframe Maintenance), By Organization Type, By Aircraft Type, By Aircraft Generation, And Segment Forecasts, 2019 – 2025
The global Aircraft MRO Market size is expected to reach USD 104.46 billion by 2025, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. The growing influx of aircraft OEMs into the MRO sector traditionally dominated by specialized maintenance providers has opened up new avenues for the market growth.
As per the International Air Transport Association (IATA), MRO activities contribute to about 15% of the total operating cost of the airlines. The OEMs as well as specialized MRO providers are making significant investments in new technologies to enhance their service quality and operational efficiency. Profitability of aviation industry hinges on the maintenance of old fleet rather than the sale of new aircraft, which has elevated the importance of the aircraft MRO market.
The service providers in the market constitute of separate department of airline operators or independent MRO providers. These service providers are transforming into full-service suppliers and their role is expected to become a one stop-shop to cater to all of the airline’s MRO needs. For instance, Lufthansa Technik have advanced technical capabilities and have succeeded in selling power-by-the-hour contracts.
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In North America, independent MRO providers offer lucrative opportunities for experienced and skilled workers and attractive pay packages to address the growing demand for maintenance activities. For instance, mechanics and avionics technicians lead the laborers’ demand, followed by electrical and software engineers. In 2018, the region witnessed a steep rise in outsourcing for MRO spending.
France-based Airbus S.A.S.-one of the most prominent aircraft manufacturers-is developing its Air+ program, which offers the opportunity to MRO providers of collaborating with other players to seek the best services and to develop customized MRO solutions. The company is also keen on setting MRO service centers in Asia Pacific countries such as India within a partnership mode.
Since February 2019, AFI KLM E & M have been deploying mobile climbing robots in its line maintenance operations. The company is looking forward to integrate climbing robots with Donecle drones for aircraft inspections, used since 2016.
Further key findings from the report suggest :
- Aircraft and engine manufacturers such as Rolls-Royce and Boeing are putting additional focus on aircraft maintenance business and offering total care solutions
- The opportunities for independent MRO providers are expected to remain buoyant as airlines are expected to continue outsourcing maintenance work for them to focus on their core business, although OEMs are gradually foraying into the MRO space considering the profitability involved
- Electronic systems are swiftly replacing the mechanical systems. Increasing complexity of the electronic systems is expected to create demand for the skilled workforce for aftermarket service and repair activities
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Grand View Research has segmented the global aircraft MRO market report on the basis of service type, organization type, aircraft type, aircraft generation, and region:
Aircraft MRO Service Type Outlook (Revenue, USD Billion, 2015 – 2025)
- Engine Overhaul
- Airframe Maintenance
- Line Maintenance
- Modification
- Components
Aircraft MRO Organization Type Outlook (Revenue, USD Billion, 2015 – 2025)
- Airline/Operator MRO
- Independent MRO
- Original Equipment Manufacturer (OEM) MRO
Aircraft Type Outlook (Revenue, USD Billion, 2015 – 2025)
- Narrow-Body
- Wide-Body
- Regional Jet
- Others
Aircraft Generation Outlook (Revenue, USD Billion, 2015 – 2025)
- Old Generation
- Mid Generation
- New Generation
Continued…
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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