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Demand for aircraft maintenance, repair, Overhaul (MRO) services has continued to spiral upwards in recent years. As per the study conducted by Market Research Future (MRFR), the global wide body aircraft MRO market is expected to demonstrate a CAGR of 4.5% between 2017 and 2023. Growing fleet sizes are viewed as primary market driver.Some of the leading companies discussed in MRFR’s report include Honeywell Aerospace (U.S.), Pratt & Whitney (U.S.), Air France Industries KLM Engineering and Maintenance (France), Singapore Technologies Aerospace (Singapore), MTU Aero Engines (German), Lufthansa Technik (Germany), Abu Dhabi Aircraft Technologies (UAE), Rolls-Royce (U.S.) and GE Aviation (U.S.)
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Aircraft MRO has remained a high-growth industry in recent years. Commercial aircraft needs regular maintenance for effective operation and more importantly safety. MRO involves a wide-range of maintenances services, overhauling number, repairing services and modification services. Airline companies opt for MRO services in order to extend the lifecycle of wide body aircrafts. However, factors such as environment hazards, aircraft retirement, and government regulation influence deeply influence the MRO services industry.
Wide body aircraft MRO services cover segments such as aircraft engine, air fins, and components. The aerospace sector is perceived as an early adoption of emerging maintenance technologies, which augured well fort the aircraft MRO market. Growing industry trend such as IT-enables MRO and MRO outsourcing are also influencing the market growth.
The vast sizes of aging fleets are creating application opportunities for market players. At the same time, growth of fleet size in emerging markets has also propelled the market. While companies invest on expanding their fleet size they are also focusing on extending the lifecycle of their existing fleets. As companies strive towards meeting gold standards, aircraft MRO services gain more popularity. The military aviation sector continues to make significant contribution to the market. There has been a considerable rise in demand for military aircraft worldwide.
Government is various parts of the world are investing in expansion of military aircraft fleets, which is fuelling the demand for aircraft MRO services. Services providers are focusing on improving services offering and integrating new services for modern aircrafts.
Global Wide Body Aircraft MRO Market: Segmental Analysis
The segmental analysis of the Wide Body Aircraft MRO Market has been conducted on the basis of platform, MRO type and region.
Based on platform, the market has been segmented into commercial and military. The commercial segment is projected to remain highly attractive during the projection period. Based on MRO types, the market has been segmented into engines, components, airframes and modification and line maintenance. Of these, the engine MRO segment is expected to witness a relatively higher growth rate during the assessment period. This is mainly owing to widespread usage of engine MRO. Engines are among the key components of an aircraft which require critical maintenance.
Global Wide Body Aircraft MRO Market: Regional Analysis
The Wide Body Aircraft MRO Market has been covered across Asia Pacific (APAC), North America, the Middle East & Africa (MEA), Europe and South America. The Asia Pacific (APAC) wide body aircraft MRO market is emerging fast and likely to remain highly lucrative during the projection period. This is mainly owing to the rapid growth of the aviation sector and rising number of air passengers. To accommodate the growing passenger influx, aircraft companies in the region are expanding their fleets, which is eventually leading to an increased need for aircraft MRO services. North America is also expected to remain a crucial market for wide body aircraft MRO over the next several years. The vast aviation sector in the region is expected to provide headwinds to the market in the region in the forthcoming years.
Scope of Report
The report for Global Wide-body Aircraft MRO Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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List of Tables
Table 1 Global Wide Body Aircraft Mro Market: by Region, 2018-2024
Table 2 North America Global Wide Body Aircraft Mro Market: by Country, 2018-2024
Table 3 Europe Global Wide Body Aircraft Mro Market: by Country, 2018-2024
Table 4 Asia-pacific Global Wide Body Aircraft Mro Market: by Country, 2018-2024
Table 5 Middle East & Africa Global Wide Body Aircraft Mro Market: by Country, 2018-2024
Table 6 Latin America Global Wide Body Aircraft Mro Market: by Country, 2018-2024
Table 7 Global Wide Body Aircraft Mro Market, by Mro Type, by Regions, 2018-2024
Table 8 North America Global Wide Body Aircraft Mro Market, by Mro Type, by Country, 2018-2024
Table 9 Europe Global Wide Body Aircraft Mro Market, by Mro Type, by Country, 2018-2024
Table 10 Asia-pacific Global Wide Body Aircraft Mro Market by Mro Type, by Country, 2018-2024
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List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Wide Body Aircraft Mro Market Share, by Mro Type, 2018 (%)
Figure 9 Global Wide Body Aircraft Mro Market, by Mro Type, 2018-2024 (Usd Million)
Figure 10 Global Wide Body Aircraft Mro Market Share, by Platform, 2018 (%)
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Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
Address: Market Research Future, Office No. 524/528, Amanora Chambers, Magarpatta Road, Hadapsar, Pune -411028, Maharashtra, India
Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/wide-body-aircraft-mro-market-1576
Release ID: 88921209
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