Aircraft MRO refers to Overhaul, inspection, repair, or modification of an aircraft or its components. The market for aviation maintenance, repair, and overhaul (MRO) is divided into two categories: MRO type and geography. The market is divided into four types of MRO: airframe, engine, component, and line maintenance.
Aircraft MRO market is expected to project a notable CAGR of 4.75% in 2031
Aircraft MRO market to surpass USD 132.04 billion by 2031 from USD 83.02 billion in 2021 at a CAGR of 4.75% in the coming years, i.e., 2022-31. Increased OEM presence in the MRO business, as well as the introduction of new technologies, are likely to propel market expansion in leaps and bounds in the coming years. The introduction of low-cost airlines, as well as the high level of expertise displayed by ground and maintenance crews, has accelerated the commercialization of the airline sector across the world.
Aircraft MRO Market: Segments
segment to grow with the highest CAGR during 2021-31
Aircraft MRO market is segmented by Aircraft type into Narrow-Body, Wide-Body, Regional Jet, Others. Among these the Wide-Body category dominated the market in 2020. Wide-body aircraft is expected to grow at the highest rate throughout the projection period, owing to remarkable progress in the development of turbofan engines in recent years. Because of their complexity and costly maintenance, widebody planes have a high percentage of MRO costs.
Components segment to grow with the highest CAGR during 2021-31
Aircraft MRO market is segmented by Service type into Engine Overhaul, Airframe Maintenance, Line Maintenance, Modification, and Components. Among these, the Components category is expected to grow at a significant rate during the forecast period. This is due to an increase in airline firms’ spending on aircraft maintenance and replacement components. Due to increased flying frequency, maintenance and critical repairs of cargo planes contribute to the segment’s growth.
Aircraft MRO Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
SIA Engineering Company
Aircraft MRO Market: Regions
Aircraft MRO market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Aircraft MRO market in Asia Pacific held the largest market share in the year 2020. In the forecast period, the Aircraft MRO market is expected to be dominated by Asia Pacific. Regional growth is projected to be fueled by an increase in air travel in the future years. With almost 5000 aircraft in operation, China has a greater market value. Other factors, such as increased international commerce and the need for new planes, are projected to fuel regional expansion.
By Service Type
By Organization Type
Original Equipment Manufacturer (OEM) MRO
By Aircraft Type
By Aircraft Generation
Aircraft MRO Market Dynamics
Aircraft MRO Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints