Global Commercial Aircraft MRO Market 2019-2023
- Published: Nov 2018
- Pages: 120
- SKU: IRTNTR30298
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The commercial aircraft MRO market size will grow by USD 17.38 billion during 2019-2023. This report offers an analysis of the market based on type (engine, airframe, component, and line) and geography (Americas, APAC, and EMEA). The commercial aircraft MRO market research report further analyzes the market’s competitive landscape and offers information on several companies including AAR, Hong Kong Aircraft Engineering Company, Lufthansa Technik, MTU AERO ENGINES, and Singapore Technologies Engineering.
Below are some of the key findings from the commercial aircraft MRO market research report:
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Global commercial aircraft MRO industry overview
With the present generation of engines being digitally controlled, power output is monitored at different levels of flight using sensors. These sensors are located at various key locations, and multi-dimensional data such as temperature, vibration, pressure, and oil debris is collected in real time. This has significantly reduced maintenance costs of aero-engine parts and components. However, such advanced engines are beneficial only if predictive maintenance is implemented correctly to ensure minimal downtime. Several OEMs are focusing on enhancing customer satisfaction through a wide range of flexible and innovative services. The advent of business intelligence in aviation has significantly improved the efficiency of both OEMs and MROs. Now every operator or carrier has the liberty of selecting services based on the fleet, operations, maintenance strategy, and existing IT capabilities. This the adoption of predictive maintenance tools will drive the commercial aircraft MRO market growth.
The replacement of scrap aircraft parts is one of the prominent commercial aircraft MRO market trends. To become cost-effective and eco-friendly, the aviation industry is making significant efforts in recycling parts from end-of-life aircraft. The focus is on choosing advanced materials which can help extend the durability and service life of an operational engine and ensure efficient performance. Subsequently, retrofitting of modern communication and entertainment systems on last generation aircraft is expected to result in significant business opportunities for MRO operators. The commercial aircraft MRO market forecast report predicts that fueled by these factors, the market will grow at a CAGR of over 4% during the forecast period.
Top commercial aircraft MRO companies covered in this market research report
The commercial aircraft MRO market is mature and highly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this commercial aircraft MRO industry analysis report will help clients identify and design new growth strategies.
The report offers a complete analysis of various companies including:
- Hong Kong Aircraft Engineering Company
- Lufthansa Technik
- MTU AERO ENGINES
- Singapore Technologies Engineering
Commercial aircraft MRO market segmentation based on geographic regions
According to global commercial aircraft MRO market analysis, the EMEA region will lead the commercial aircraft MRO market share. However, the APAC region will account for the highest commercial aircraft MRO market growth throughout the forecast period.
Commercial aircraft MRO market segmentation based on type
The engine MRO segment will account for the largest commercial aircraft MRO market share during the forecast period. This segment will also account for the highest commercial aircraft MRO market growth. Additionally, the report also provides an accurate prediction of the contribution of all the various MRO types to the growth of the commercial aircraft MRO market size.
Key highlights of the global commercial aircraft MRO market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the commercial aircraft MRO market during the next five years
- Precise estimation of the global commercial aircraft MRO market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial aircraft MRO industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of commercial aircraft MRO companies
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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