The aircraft MRO Market increased in value from USD 83,160 million in 2022 to USD 144,500 million in 2033, with a compound annual growth rate (CAGR) of 5.4% over the projected period. This indicates a sigmoid growth curve behaviour within the industry.
The aviation sector, which was severely impacted by the epidemic, began to recover steadily again in 2022. In 2023, the aviation sector saw notable expansion following a two-year downturn brought on by the COVID-19 pandemic. In 2023, it is anticipated that passenger traffic worldwide would reach 87.8% of 2019 levels, and airlines will start turning a profit again.
The market for aircraft maintenance and repair (MRO) is divided into categories based on component: airframe, engine, landing gear, interior components, auxiliary power unit (APU), and others. The aircraft maintenance and repair industry is mostly composed of engines and airframes, as seen below. This is because maintaining these components is the most expensive and complex due to their complexity. APUs, landing gear, and interior parts are all crucial parts, however they need less complicated and regular maintenance.
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The age of the global aircraft fleet and the rising number of aircraft in operation are projected to fuel growth in the aircraft maintenance and repair (MRO) industry in the upcoming years. All component types should profit from this expansion, but engines and airframes will probably continue to hold the lion’s share of the market.
Repair shops can be operated by huge organizations, but they are typically modest, family-run businesses with a small staff. These small MRO shops typically focus on one or two niche markets, like landing gear or interiors for airplanes. Even if there is less room for growth, these repair firms nevertheless hold a place in the market. More specialized MRO services aren’t usually a driving force for larger market participants because the return on investment for personnel and equipment is sometimes not high enough. For specialist services, many people will turn to independent repair shops.
Right now, maintenance expenses in the aviation sector are higher than fuel expenses. Airlines now must rely on digital technologies to track physical assets like engines and cockpit controls in real-time, which will help them better plan maintenance procedures because of the significant increase in maintenance expenses.
Market Segmental Analysis
By Technology
Traditional MRO
Predictive Maintenance
Digital and Data-Driven Maintenance
By Aircraft Type
Commercial Aircraft MRO
Military Aircraf MRO
General Aviation Aircraft MRO
Regional Aircraft MRO
Business Jets MRO
Cargo Aircraft MRO
By Service Type
Line Maintenance
Base Maintenance
Engine Overhaul
Component Maintenance
Modification and Upgrade Services
Avionics Maintenance
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Country Scope
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
By Maintenance Provider
Original Equipment Manufacturers (OEMs)
Independent MRO Providers
Airline-affiliated MROs
Defense MRO Facilities
Component MRO Specialists
By Component
Airframe
Engine
Landing Gear
Interior Components
Auxiliary Power Unit (APU)
Others
Market Competitive Outlook
AAR Corp., Airbus SE, Delta Airlines, Inc. (Delta TechOps), Hong Kong Aircraft Engineering Company Limited, KLM U.K. Engineering Limited, Lufthansa Technik, MTU Aero Engines AG, Raytheon Technologies Corporation (Previously United Technologies Corporation), Singapore Technologies Engineering Ltd, TAP Maintenance & Engineering (TAP Air Portugal).
Frequently Asked Questions
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- What is the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
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- What is the COVID-19 impact on the market and how long will it take to recover?
