DUBLIN–(BUSINESS WIRE)–The “Commercial
Aircraft Maintenance, Repair, and Overhaul (MRO) Market – Growth,
Trends, and Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s
The commercial aircraft MRO market is estimated to register a CAGR of
4.35% during the forecast period, 2019-2024.
With the growing air traffic, carriers are more inclined toward
maintaining the health of their current fleet, going for new aircraft
only if they have no other option, since the cost of buying a new
aircraft is considerably higher than the cost for the maintenance of the
current fleet. Different airports have introduced improvement processes
to enhance efficiency, and several are using new technological systems
to gain additional upgrades and prepare for the bigger data requirements
of next-generation aircraft, and this shall lead to the growth of the
market in the near future.
Governments have started various initiatives to encourage airports to
support MRO as a strategic activity. Various holistic approaches are now
being undertaken by the governments to ensure that adequate space is
mandatorily allocated at various airports within the country for MRO,
and this shall lead to an enhancement in terms of commercial aircraft
MRO in the years to come.
Key Market Trends
The Field Maintenance Segment is Expected to Grow at a High Pace
Currently, the field maintenance segment has the highest share out of
all the segments. Field maintenance has to deal with very different
tasks. These operations are performed simultaneously to lower the ground
time, to increase aircraft productivity. Thus, management strongly
emphasizes the time-efficiency of ground operations delivered either by
themselves, the independent companies, or the airport authority.
The time efficiency makes the task even tighter for field maintenance
staff, and their efficiency depends on technically advanced equipment,
information support systems, and coordination of staff. Thus, the focus
is currently on this segment, which is the reason for its expected high
Asia-Pacific is Expected to See the Highest Growth
At present, Asia-Pacific is generating the highest revenue in the
commercial aircraft MRO market. Singapore dominates the MRO market in
Asia. In the recent years, several other Asian countries have also
increased their investment in MRO facilities, trying to replicate the
success of Singapore and Hong Kong in this sector. Low-cost carrier, to
some extent, has changed the face of civil aviation in Asia. In tandem
with the rise, the market for aircraft maintenance is also changing, as
companies in countries like Indonesia and Thailand are also entering the
market to challenge the dominance of established Singaporean players.
Government policy also plays a key role, and the Singaporean government
has been very forward-looking in supporting the aerospace industry. With
the growing frequency of flights to and from the Asian countries, the
demand for MRO centers is expected to rise in this region in the coming
years. Moreover, due to the huge potential of the Asia-Pacific aviation
market, several global players are establishing new centers in the
region to cater to the growing demand.
The commercial aircraft MRO market is highly fragmented, with only a
handful of players controlling the market. TAP M&E is currently the
largest player in the market, followed by Pratt & Whitney, Lufthansa
Technik, ST Aerospace, and Rockwell Collins. The MRO operation per
aircraft is expected to decrease in frequency compared to older
aircraft, due to improvement in technology and advancement in the engine
and structural design of aircraft.
The long aircraft order backlog will force older aircraft to run longer
shifts and as population rises, globally, the active aircraft fleet will
find it difficult to cater to the required capacity demand. Commercial
airline MRO is expected to be active during the forecast period, as
airlines compete to bring in more passengers and provide better
facilities inside the aircraft cabin. Joint ventures between the players
can help the companies strengthen their market presence.
Key Topics Covered
1.1 Study Deliverables
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.3 Market Restraints
4.4 Porter’s Five Forces
5 MARKET SEGMENTATION
5.1 MRO Type
5.1.2 Components MRO
5.1.3 Interior MRO
5.1.6 Field Maintenance
5.2.1 North America
5.2.4 South America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and
Acquisitions, Joint Ventures, Collaborations and Agreements
Vendor Market Share
6.3 Strategies Adopted by Leading Players
6.4.1 AAR Corp.
6.4.2 Delta TechOps
General Electric Company
6.4.4 Hong Kong Aircraft Engineering Co.
6.4.5 Lufthansa Technik AG
6.4.6 Pratt and Whitney
(United Technologies Corporation)
6.4.7 Rockwell Collins Inc.
SIA Engineering Company Ltd.
6.4.9 TAP Maintenance & Engineering
Singapore Technologies Engineering Ltd.
6.4.11 MTU Aero Engines AG
Rolls-Royce Holding PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/yiboxf
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