Aircraft Maintenance, Repair and Overhauling Services Market Share, Growth, Trends And Forecast To 2033
Global aircraft maintenance, repair and overhauling services market size is expected to reach $109.24 Bn by 2028 at a rate of 6.5 %
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The aircraft maintenance, repair and overhauling services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Aircraft Maintenance, Repair and Overhauling Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The aircraft maintenance, repair and overhauling services market size has grown strongly in recent years. It will grow from $78.92 billion in 2023 to $84.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to aging aircraft fleet, regulatory compliance, air travel growth, global economic conditions.
The aircraft maintenance, repair and overhauling services market size is expected to see strong growth in the next few years. It will grow to $109.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to fleet expansion, sustainability initiatives, defense and military mro, new aircraft technologies, market consolidation. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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Scope Of Aircraft Maintenance, Repair and Overhauling Services Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Aircraft Maintenance, Repair and Overhauling Services Market Overview
Market Drivers -
The growing demand for commercial aircraft is expected to propel the growth of the aircraft maintenance, repair, and overhauling services market going forward. A commercial aircraft is a type of aircraft designed and used for transporting passengers or cargo for profit or business purposes. Aircraft maintenance, repair, and overhaul (MRO) services are critical for commercial aircraft to ensure their safety and airworthiness. MRO is an aircraft maintenance facility capable of performing required maintenance or inspections. For instance, in January 2023, according to Airbus SE, a Netherlands-based aerospace corporation, the company delivered 661 commercial aircraft to 84 customers in 2022, representing an increase of 8% from the 611 units sold in 2021. Therefore, growing demand for commercial aircraft is driving the growth of the aircraft maintenance, repair, and overhauling services market.
The aircraft maintenance, repair and overhauling services market covered in this report is segmented –
1) By Type: Commercial Aircrafts MRO Services, Commercial Helicopters MRO Services, Commercial Gliders and Drones MRO Services, Aircraft Turbines MRO Services, Aircraft Engines MRO Services, Rocket Engines MRO Services
2) By Aircraft Division: Engine, Cabin Interior, Airframe, Avionics, Others
3) By Size: Wide-Body, Narrow-Body, Regional, Others
4) By Service Type: Annual Maintenance Contract, Individual Works, Others
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Regional Insights -
Asia-Pacific was the largest region in the aircraft maintenance, repair and overhauling services market in 2023. Eastern Europe is expected to be the fastest growing region. The regions covered in the aircraft maintenance, repair and overhauling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies -
Major companies operating in the aircraft maintenance, repair and overhauling services market include Lockheed Martin Corporation, Airbus Group SE, The Boeing Company, Leonardo SpA, Bae Systems plc, Allen Aircraft Radio Corp, Aeroman Inc., Air France Industries-KLM Engineering & Maintenance, British Airways Engineering Services Ltd., Etihad Airways Engineering LLC, General Electric Aircraft Engines, Korean Air Lines Co Ltd., Lufthansa Technik Aktiengesellschaft, Safran Aerosystems., Raytheon Technologies Corporation, SIA Engineering Company Ltd., TAP Maintenance & Engineering, Singapore Technologies Engineering Ltd., MTU Aero Engines AG, Rolls-Royce Holdings plc, Air India Engineering Services Ltd., Emirates Engineering Construction Pvt Ltd., StandardAero Aviation Holdings Inc., Air France Industries-KLM Engineering & Maintenance, Avia Solutions Group PLC, Garuda Indonesia Tbk, Delta Air Lines Inc., Hong Kong Aircraft Engineering Co Ltd., Air Works India pvt Ltd., AJW China Co Ltd., Gama Aviation Ltd.
Table of Contents
1. Executive Summary
2. Aircraft Maintenance, Repair and Overhauling Services Market Characteristics
3. Aircraft Maintenance, Repair and Overhauling Services Product/Service Analysis -Product/Service Examples
4. Aircraft Maintenance, Repair and Overhauling Services Market Trends And Strategies
5. Aircraft Maintenance, Repair and Overhauling Services Market - Macro Economic Scenario
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70. Key Mergers And Acquisitions In The Aircraft Maintenance, Repair and Overhauling Services Market
71. Aircraft Maintenance, Repair and Overhauling Services Market Future Outlook and Potential Analysis
72. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Aircraft Division, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 145: Lockheed Martin Corporation Financial Performance
Table 146: Airbus Group SE Financial Performance
Table 147: The Boeing Company Financial Performance
Table 148: Leonardo SpA Financial Performance
Table 149: Bae Systems plc Financial Performance
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