Market Size of Asia-Pacific Aircraft MRO Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 17.07 Billion |
| Market Size (2029) | USD 22.56 Billion |
| CAGR (2024 - 2029) | 5.74 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Aircraft MRO Market Analysis
The Asia-Pacific Aircraft MRO Market size is estimated at USD 17.07 billion in 2024, and is expected to reach USD 22.56 billion by 2029, growing at a CAGR of 5.74% during the forecast period (2024-2029).
Before the COVID-19 outbreak, Asia-Pacific was the fastest-growing region in the world for the aviation industry and attracted global MRO players to enter the market and expand their customer base. However, the COVID-19 pandemic caused a severe downturn in the airline and associated industries. Due to lower demand for commercial aviation, major airlines have restructured their growth strategies, which included early retirement of a few aircraft, postponement of new aircraft deliveries, and scaling down operations, among others. A majority of the fleet remained grounded for a significant period in 2020 and a few months in 2021, while some airlines opted for major maintenance work during this period.
In the military segment, though several countries are procuring new aircraft every year, the region still has some of the oldest aircraft fleets in the world, which is also increasing the demand for aircraft MRO activities. On the other hand, the demand for general aviation operations like jet charters grew in the region, while the demand for commercial airlines declined, which had an overall positive impact on the general aviation MRO industry.
