Aircraft Maintenance, Repair and Overhaul Services Market Size 2024-2029: Delta TechOps, Lufthansa Technik AG, Air France Industries KLM Engineering & Maintenance, Hong Kong Aircraft Engineering Company Limited [HAECO], PT GMF Aeroasia TBK

According to MarkNtel Advisors study the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market size in the year 2022 was around USD 78.9 billion and it is estimated to grow at a CAGR of around 7.32% during the forecast period, i.e., 2024-29.

“In case you missed it, we are currently revising our reports. Click on the below to get the most latest research data with forecast for years 2024 to 2030, including market size, industry trends, and competitive analysis. It wouldn't take long for the team to deliver the most recent version of the report.”    

Access Free Sample Report - https://www.marknteladvisors.com/query/request-sample/aircraft-mro-services-market.html

Key Findings of the Study: Aircraft Maintenance, Repair and Overhaul Services market

Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Driver:

Extensive Air Cargo Delivery & Air Travel Driving Market Growth – Over the past few years, air traffic has consistently increased due to the surge in the transportation of goods via air and the rising tourism across the globe. Air cargo is crucial for perishable goods transportation like pharmaceuticals, seafood, vaccines, etc., since it provides timely delivery of these goods and ensures the preservation of the quality & shelf life of the goods.

According to the International Air Transport Association, in 2022, Air Cargo transports over USD 6 trillion worth of goods annually and accounts for approximately 35% of world trade. In addition, valuable & expensive products like electronics and other luxury goods are transported from one country to the destination via air to reduce the risk of theft. This rising usage of aircraft for the delivery of goods is resulting in a surge in aircraft utilization rates. As a result, the aircraft are more prone to some failures in aircraft systems and components. Thus, cargo operators such as DHL Aviation, Emirates SkyCargo, etc., are going for Aircraft MRO Services to ensure the smooth functioning of the aircraft.

Moreover, the rising net disposable income in countries like the UAE, Hong Kong, Germany, etc., and the increasing inclination of the Millennials & GenZ population towards exploration of different regions is leading to an increase in air travel. The surge in air travel is putting strain on aircraft components like engines, propellers, etc. Hence, the fleets of airlines like Go First, Akasa Air, etc., undergo regular maintenance, driving the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market.

Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Challenge:

Increasing Material Costs & Unavailability of Skilled Labour Impedes Market Growth – MRO Service Providers essentially require a wide range of materials like metals, plastics, elastomers, etc., to support various maintenance & repair tasks of the aircraft. However, the fluctuations in the prices of these essential components are due to the geopolitical tensions between countries like Russia & Ukraine and supply chain constraints. As a result, the MRO Service providers are delaying their service, i.e., increasing turnaround & the airline operators have to wait for a prolonged period to get their aircraft back after maintenance, resulting in them incurring losses. Hence, the airline operators purposely skip the regular maintenance checks, restraining the market growth.

Moreover, MRO service providing companies require highly skilled labor to ensure that maintenance, repair, and overhaul activities are carried out correctly and following strict safety standards and regulations. However, qualified personnel have been scarce in the aviation industry due to the rapidly evolving aviation technology & modern systems. According to the Federal Aviation Administration (FAA), in 2020, the governing authority issued approximately 30% fewer new mechanic certificates, in contrast with 2019.

In addition, FEAM, an aircraft maintenance service provider in the US, stated that the company is currently 8% short of its desired staffing level. This unavailability of qualified staff elevates longer lead times for service appointments, hampering market growth.

For more detailed information about the Aircraft Maintenance, Repair and Overhaul Services market report, click here – https://www.marknteladvisors.com/research-library/aircraft-mro-services-market.html

Scope of the Report and Aircraft Maintenance, Repair and Overhaul Services Market Segmentation:

By Type of MRO

• Independent MRO- Market Size & Forecast 2019-2029F, USD Million
• Original Equipment Manufacturer (OEM) MRO- Market Size & Forecast 2019-2029F, USD Million
• Airline/Operator MRO- Market Size & Forecast 2019-2029F, USD Million

By Service Type

• Airframe Maintenance- Market Size & Forecast 2019-2029F, USD Million
• Engine Overhaul- Market Size & Forecast 2019-2029F, USD Million
• Modification- Market Size & Forecast 2019-2029F, USD Million
• Component repair & Maintenance- Market Size & Forecast 2019-2029F, USD Million
• Line Maintenance- Market Size & Forecast 2019-2029F, USD Million

By Type of Aircraft

• Commercial Aviation
  • Narrow body Jet- Market Size & Forecast 2019-2029F, USD Million
  • Widebody Jet- Market Size & Forecast 2019-2029F, USD Million
  • Regional Jet- Market Size & Forecast 2019-2029F, USD Million
  • Cargo- Market Size & Forecast 2019-2029F, USD Million
• General Aviation
  • Single-Engine Piston Aircraft
  • Twin-Engine Piston Aircraft
  • Turboprop Aircraft
  • Business Jets
  • Amphibious Aircrafts
  • Others (Rotorcraft, Aerobatic Aircraft, etc.)
• Military Aviation
  • Fighter Aircraft
  • Bomber Aircraft
  • Reconnaissance Aircraft
  • Special Mission Aircraft
  • Others (Transport Aircraft, Trainer Aircraft, etc.)

The increasing air travel by individuals & the surging air cargo has led to a surge in the demand for commercial aviation.

Aircraft Maintenance, Repair and Overhaul Services Market Competitive Landscape

• Delta TechOps
• Lufthansa Technik AG
• Financial Details
• Air France Industries KLM Engineering & Maintenance
• Hong Kong Aircraft Engineering Company Limited (HAECO)
• PT GMF Aeroasia TBK
• Avia Solutions Group PLC
• StandardAero
• Emirates Engineering
• MTU Aero Engines AG
• Singapore Technologies Engineering Ltd
• Tap Maintenance & Engineering Ltd.
• AAR Corporation
• Textron Aviation, Inc.
• Euravia Engineering & Supply Co. Ltd
• Air India Engineering Services Ltd

Aircraft Maintenance, Repair and Overhaul Services Market Development:

• 2023: AAR Corp. announced to provide airframe MRO services to the existing fleet of United Airlines till 2030.
• 2022: Delta TechOps announced an agreement with CFM International to provide engine overhaul MRO services for their next-generation LEAP-1B aircraft engine.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Asia-Pacific countries like China, India, and others are witnessing rapid economic growth & inclination toward e-commerce due to changing consumer behaviour.

Note: If you require specific information not covered in the current report, we can provide it through customized option

Why choose Us?

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

For Media Inquiries, Please Contact:

Call: +1 628 895 8081 | +91 120 4278433

Email: sales@marknteladvisors.com

Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511

Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India