Asia-Pacific Aircraft Engine MRO Market Size

Statistics for the 2023 & 2024 Asia-Pacific Aircraft Engine MRO market size, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Aircraft Engine MRO size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Asia-Pacific Aircraft Engine MRO Industry

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Asia-Pacific Aircraft Engine MRO Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.33 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Asia-Pacific Aircraft Engine MRO Market Analysis

The Asia Pacific aircraft engine MRO market is anticipated to grow from USD 12.55 billion in 2022 to USD 15.45 billion in 2028, registering a CAGR of 3.33% during the forecast period.

The COVID-19 outbreak impacted the entire aviation industry in Asia-Pacific. Nevertheless, in the present scenario, aircraft operators in the region resumed ordering new aircraft owing to a rebound in travel demand in the commercial and general aviation segments. This will boost aircraft engine MRO providers in the region during the forecast period.

Over the last ten years, there has been a big increase in the number of people flying in the Asia-Pacific region, and new emission rules have made it necessary to buy more new-generation planes. The aging military aircraft fleet in some countries of the Asia-Pacific region may generate significant demand as countries such as China, India, and Japan, among others, plan to extend these aging aircraft's service lives.

Rapid technological advancements in aircraft engine MRO are driving the market's growth. Key players have now started investing significant amounts in R&D to manufacture advanced aircraft engine components using different composites, increasing their operability for various operating environments and making the engines lighter while improving their operational life. Moreover, the region is also expected to be the largest MRO service user in the coming years. A natural corollary of fleet acquisition owing to the various countries of the Asia-Pacific, such as India and China, which are poised to emerge as powerhouses in the coming years, will drive the growth of the market.

Asia-Pacific Aircraft Engine MRO Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)