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Aircraft Engine MRO Market – OverviewAccording to a recent study report published by the Market Research Future, the global market of Aircraft Engine MRO will grow at a steady pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2023).
Based on engine type, the aircraft engine MRO market is divided into turbine engine and piston engine. The turbine engine segment is further divided as turbofan, turboprop, and turboshaft. The turbofan segment is estimated to account for the largest share during the forecast period as airlines are focusing on procuring these engines to increase fuel economy, which ultimately generates maintenance requirement for the same.
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Based on aircraft type, the aircraft engine MRO market is divided into fixed-wing and rotary-wing. The fixed-wing segment is further divided as wide-body aircraft & others and narrow body aircraft. The fixed-wing segment is estimated to account for the largest share during the forecast period. Fixed-wing aircraft offers various advantages such as long endurance, large area coverage, and faster flight speed. Furthermore, fixed-wing aircraft forms a vital part of the commercial aviation.
Based on application, the aircraft engine MRO market is divided into civil and military aviation. The civil aviation segment is further divided as commercial aviation & cargo aviation and business & general aviation. The civil aviation segment is estimated to account for the largest share during the forecast period which is due to the increase in the number of aircraft deliveries by major commercial aircraft manufacturers such as Airbus Group (France), The Boeing Company (U.S.), among others. Civil Aviation authorities in various countries demand effective maintenance to be carried out are regular intervals in order to enhance passenger safety.
Asia Pacific will be the fastest growing market for aircraft engine MRO during the forecast period. Over the years, with increasing incomes, there has been a high demand for air travel in the region, which stimulated larger developments in planes. It is expected that by 2035, more than 16,000 aircrafts would be delivered in the region. Moreover, due to the low labour rates, North American airlines outsource 60% of their heavy maintenance and airframe MRO, to Asia, where it is a major source of income. Furthermore, new airlines are sprouting every year in this region which will positively impact the aircraft engine MRO market in this region.
Leading Players-
• Air France Industries KLM Engineering & Maintenance (France)
• Delta TechOps (US)
• GE Aviation (US)
• Hong Kong Aircraft Engineering Company Limited (Hong Kong)
• Lufthansa Technik AG (Germany)
• MTU Aero Engines AG (Germany)
• Rolls-Royce plc (UK)
• Safran SA (France)
• SIA Engineering Company Ltd. (Singapore)
• United Technologies Corporation (US)
• others
These are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global aircraft engine MRO market.
Industry/ Innovation/ Related News:
January 2019: Pratt & Whitney’s MRO in Singapore underwent a USD 85 million upgrade to cater to the induction of geared turbofan engines.
December 2018: The Carlyle Group (US) is planning to acquire StandardAero (US), a global provider of aftermarket engine maintenance, repair and overhaul (MRO) services for the aerospace and defence industries by the end of 2019.
October 2018: HNA Group (China) awarded a five-year MRO contract to IAI’s Bedek Division (Israel) for maintaining and overhauling V2500 engines.
Aircraft Engine MRO Market – Segmentation
The global aircraft engine MRO market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Engine Type: Turbine Engine and Piston Engine
Segmentation by Aircraft Type: Fixed-Wing and Rotary-Wing
Segmentation by Application: Civil Aviation and Military Aviation
Segmentation by Region:North America, Europe, Asia-Pacific and Rest of the World
Aircraft Engine MRO Market: Regional Analysis
The aircraft engine MRO market has been segmented into North America, Europe, Asia Pacific and Rest of the World. North America is expected to be the largest market for aircraft engine MRO. The aircraft engine MRO market across the globe is expected to rise at a considerable pace during the forecast period due to rise in demand for new aircraft and focus on aircraft modernization programs in all the above-mentioned regions.
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TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.1. Market Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3 Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
3.7. Limitations
4 Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat Of New Entrants
4.1.2. Bargaining Power Of Buyers
4.1.3. Threat Of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power Of Supplies
5 Market Dynamics
5.1. Introduction
5.2. Market Drivers
5.3. Market Restraints
5.4. Market Opportunities
5.5. Market Trends
5.6. Patent Trends
Continued......
List of Tables
Table 1 Global Aircraft Engine MRO Market, By Region, 2018–2023
Table 2 North America: Aircraft Engine MRO Market, By Country, 2018–2023
Table 3 Europe: Aircraft Engine MRO Market, By Country, 2018–2023
Table 4 Asia-Pacific: Aircraft Engine MRO Market, By Country, 2018–2023
Table 5 Rest Of The World: Aircraft Engine MRO Market, By Region, 2018–2023
Table 6 Global Aircraft Engine MRO Engine Type Market, By Region, 2018–2023
Table 7 North America: Aircraft Engine MRO Engine Type Market, By Country, 2018–2023
Table 8 Europe: Aircraft Engine MRO Engine Type Market, By Country, 2018–2023
Continued......
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