Aircraft Engine MRO Market - Growth, Trends, and Forecast (2019 - 2024)

The Aircraft Engine MRO Market is segmented by Engine Type (Turbine Engine, Piston Engine), Application (Commercial Aviation, Military Aviation, General Aviation), and Geography.

Market Snapshot

aircraft engines mro market overview
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The aircraft engine MRO market is anticipated to grow at a CAGR of above 5% during the forecast period.

  • The ageing fleet of the aircraft in the military and commercial aviation industry is the major driving factor for the growth of the market during the forecast period.
  • The growth of emission regulations for the airspace by various regulatory bodies like FAA, EASA, IATA and IACO among others are generating a demand for better engine maintenance for older aircraft (since their emissions are higher compared to the newer generation aircraft).
  • The rapid fleet expansion plans of the airlines and military forces are anticipated to further boost the growth of engine MRO market during the forecast period.
  • The long term contracts of the aircraft operators (military, commercial and general aviation) with the MRO providers can act as a barrier for the growth of new players in the market.

Scope of the Report

The study of aircraft engine MRO includes the engine maintenance, repair and overhaul (MRO) operations of turbine and piston engine aircraft in commercial, military and general aviation industries. The market also includes the component level maintenance checks of the engines.

Engine Type
Turbine Engine
Turboprop
Turbofan
Turboshaft
Piston Engine
Application
Commercial Aviation
Military Aviation
General Aviation
Geography
North America
United States
Canada
Europe
United Kingdom
Russia
France
Germany
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
United Arab Emirates
Saudi Arabia
Egypt
Rest of Middle East & Africa

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Key Market Trends

Turbine Engine Segment to Experience the Highest Growth During the Forecast Period

The turbine engine segment of the market is expected to grow at the highest CAGR during the forecast period. The demand for turboprop and turboshaft aircraft, as well as ageing fleet of turboprop aircraft, are propelling the growth of the market during the forecast period. To support the governments with the fleet sustainment programs, the engine manufacturers are forming joint ventures in collaboration with the local companies. For instance, Safran formed two new joint ventures in India in association with Max Aerospace and Hindustan Aeronautics Ltd. for maintenance of military aircraft and helicopter engines. Also, the incorporation of advanced technology in the manufacturing of the engines by the OEMs is simplifying the process of maintenance services for turbine engines, which is effectively reducing the cost and time required for maintenance of the aircraft engine.

aircraft engines mro market segment

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Asia-Pacific Region is Expected to Generate the Highest Demand During the Forecast Period

Asia-Pacific region is expected to generate the highest demand for aircraft engine MRO during the forecast period. The growth of the market is primarily due to the increasing passenger traffic which is propelling the growth in aircraft movements of the region. The aircraft operators are making plans for increasing their MRO network in the region. For instance, InterGlobe Aviation Ltd. announced its plan for construction of the second MRO center at Kempegowda International Airport in Bengaluru to cater to the growing needs. This 13,000 sq.m facility which is scheduled to open by 2020, will have a Quick Engine Change (QEC) shop that can allow changing an aircraft engine with the least downtime along with warehouse and engineering offices for repair and maintenance. Additionally, the increasing military budget of emerging countries is fuelling the growth of life extension plans of aircraft, which will, in turn, generate demand for MRO in the years to come.

aircraft engines mro market geography

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Competitive Landscape

The prominent players in the aircraft engine MRO market are Lufthansa Technik, Rolls-Royce plc, United Technologies Corporation, GE Aviation, and Safran. The major engine MRO providers are entering into long term partnerships or forming joint ventures to grow their engine MRO customers. For instance, Lufthansa Technik formed joint ventures with various engine manufacturers like Rolls-Royce plc, GE Aviation, and MTU AERO ENGINES AG for providing engine MRO operations for customers in the European Union. Also, the use of advanced technology for providing maintenance services will help these companies attract new customers by reducing their maintenance costs. However, the long term contracts of the established players with the armed forces and airlines will act as a barrier for the new players to enter the market.

Major Players

  1. Lufthansa Technik
  2. Rolls-Royce plc
  3. United Technologies Corporation
  4. GE Aviation
  5. Safran

* Complete list of players covered available in the table of contents below

aircraft engines mro market CL

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Engine Type

      1. 5.1.1 Turbine Engine

        1. 5.1.1.1 Turboprop

        2. 5.1.1.2 Turbofan

        3. 5.1.1.3 Turboshaft

      2. 5.1.2 Piston Engine

    2. 5.2 Application

      1. 5.2.1 Commercial Aviation

      2. 5.2.2 Military Aviation

      3. 5.2.3 General Aviation

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Russia

        3. 5.3.2.3 France

        4. 5.3.2.4 Germany

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Mexico

        2. 5.3.4.2 Brazil

        3. 5.3.4.3 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Egypt

        4. 5.3.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Vendor Market Share

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Lufthansa Technik

      2. 6.4.2 Rolls-Royce plc

      3. 6.4.3 United Technologies Corporation

      4. 6.4.4 GE Aviation

      5. 6.4.5 Safran

      6. 6.4.6 Singapore Technologies Engineering Ltd

      7. 6.4.7 TAP Maintenance & Engineering

      8. 6.4.8 Delta TechOps

      9. 6.4.9 Hong Kong Aircraft Engineering Company Limited (HAECO)

      10. 6.4.10 MTU AERO ENGINES AG

      11. 6.4.11 Textron Inc.

      12. 6.4.12 Ameco*

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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