The global air transport MRO market is estimated to attain a valuation of US$ 79.2 billion in 2023 and is projected to accumulate over US$ 130 billion by 2033, trailing a CAGR of 5% during the forecast period.
The rapid fleet expansion plans of airlines and armed forces are expected to propel the aircraft engine MRO market to significant growth throughout the forecast period. Additionally, several nations’ ageing military aircraft fleets are creating a lot of demand as these nations want to extend the service lives of these ageing aircraft due to financial limitations.
Given that new generation engines are more expensive to manufacture than those found in older aircraft, there may be a rise in the demand for aviation engine MRO.
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The adoption of cutting-edge technology to digitise and automate maintenance tasks is anticipated to fuel market expansion. This is most likely to increase the effectiveness of the entire maintenance process, shorten the turnaround time, and improve safety, which will fuel the market’s expansion of engine MRO companies.
The worldwide aircraft MRO market is positioned to see new growth prospects as a result of rising investments in aviation MRO software. This programme has a number of parts, including:
- Maintenance Monitoring
- Maintenance scheduling
- Logbook tracking,
- Budget forecasting,
- Manuals,
- Flying time tracking,
- Electronic task card management
- Service bulletin management, and work order administration
Features in the aviation MRO software make it easier to comply with rules set by organisations like the ICAO and the FAA. Its major goal is to make maintenance procedures more efficient and reduce downtime. Notably, the development of big data and analytics within the aviation industry has resulted in substantial changes to the software.
As a result of the industry’s massive data production, MRO companies may improve operational effectiveness and provide custom solutions that are designed to meet the unique needs of airlines.
Key Takeaways:
- North America’s air transport MRO industry is projected to expand with a CAGR of 4.8% during the forecast period.
- The demand for air transport MRO in China is expected to capture a CAGR of 4.9% from 2023 to 2033.
- By application, the engine segment is anticipated to thrive at a CAGR of 5.5% between 2023 and 2033.
- The United Kingdom is expected to record an impressive CAGR of 4.5% throughout the forecast period.
The introduction of advanced technologies and rising investments in aviation MRO software is expected to fuel the market growth during the forecast period- Anticipates an FMI Analyst.
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Competitive Landscape
The market for air transport MRO is highly competitive, with several key industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players operating in the market include AAR Corporation, KLM Engineering & Maintenance, Delta TechOps, HAECO Ltd., Lufthansa Technik AG, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Guangzhou Aircraft Maintenance Engineering Company Limited, Sabena Technics, Aeroman, Airbus SAS, SIA Engineering Company (SIAEC).
Key Segments Profiled in the Air Transport MRO Market
By Application Type:
- Airframe
- Engine
- Component
- Line
By Aircraft Type:
- Narrow Body Aircraft
- Wide-Body Aircraft
- Regional Jet
- Turbo Prop
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
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Some Recent Developments in the Air Transport MRO Market
- In February 2021, SIA Engineering Company Ltd. established the Engine Services Division, focusing on research, development, and support for advanced aircraft engine servicing, repairs, wing testing, and more.
- In July 2022, Delta TechOps, the MRO division of an airline, announced its signing of a CFM Branded Service Agreement (CBSA) to provide support for LEAP-1B engines. This agreement potentially allows Delta to join CFM’s MRO network for LEAP-1B engines.
- AAR, a prominent MRO service provider for commercial and government operators, announced in October 2021, the renewal of their power-by-the-hour (PBH) component pool and repair support agreement with Flydubai. This five-year contract extends and reinforces the partnership initiated in 2016, aimed at delivering comprehensive rotatable component support for Flydubai’s Boeing 737NG fleet.
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