Business Jet MRO Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Business Jet MRO Market is segmented by MRO Type (Engine MRO, Component MRO, Interior MRO, Airframe MRO, Field Maintenance), and Geography.

Market Snapshot

business jet mro market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

>3 %

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Market Overview

The business jet MRO market is anticipated to register a CAGR of over 3% during the forecast period, (2020 - 2025).

  • The presence of aging business jets in operations, as well as demand for customization in the private jet aircraft, is expected to generate demand for the business jet MRO market during the forecast period.
  • Currently, there is a shortage of skilled workforce in the business aviation MRO industry, which will affect the aircraft handling capabilities of the MRO providers. This is expected to hamper the growth of the market in the coming years.
  • With many new models of business jets entering service and with the aftermarket activity of business jets strengthening, refurbishment providers are experiencing strong demand for their services. Moreover, customers, these days are preferring to change their interiors, with attractive materials, furnishings, and colors, and other custom touches to make their aircraft cabins unique. This trend is also driving the market studied.
  • The business jet MRO market is highly consolidated with few players accounting for the majority of the market share.
  • Due to the COVID-19 pandemic, the business jet flight activity witnessed a slight decline in the first half of 2020 compared to business jet flight activity during the same period in 2019. This decline in flight activity has affected the overall revenues of the flight activities, which in turn is expected to affect the spending of the companies towards aircraft MRO.

Scope of the Report

MRO (Maintenance, Repair, and Overhaul) covers all the activities related to the maintenance, overhaul, inspection, repair, modification or upgrades of aircraft or its parts and components. The scope of the study covers the MRO services pertaining to business jets only.

MRO Type
Engine MRO
Component MRO
Interior MRO
Airframe MRO
Field Maintenance
Geography
North America
Europe
Asia-Pacific
Latin America
Middle-East and Africa

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Key Market Trends

Components MRO Segment of the Market is Expected to Witness Highest Growth

The components MRO segment of the market is expected to grow rapidly during the forecast period. The segment includes repair and modification of aircraft components like brakes, avionic, APU, thrust reverses, landing gears, equipment/furnishings, fuel systems, and flight controls among others. With the slowdown of business aviation around the world due to the COVID-19 pandemic, various companies are actively performing component checks and inspections to maintain high standards for future operations. Further modification and upgrades of the existing systems on aircraft are necessary for maintaining the aircraft to be up to date with newer technologies. In May 2020, DC Aviation Group was awarded a contract for the comprehensive overhaul of a Challenger 605, including a 48-month check, a cabin refurbishment, and Proline 21 Advanced Upgrade. The Proline 21 Advanced Upgrade includes the installation of Automatic Dependent Surveillance-Broadcast (ADS-B) equipment on board an aircraft. Such increasing demand for modifications is expected to accelerate the growth of the segment during the forecast period.

business jet mro market MRO type

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North America Currently Dominates the Market in Terms of Market Share

The large fleet of private and charter aircraft in the United States and Canada, with over 14,000 business jets in active service has driven the need for MRO services in the region. , Besides, the attractive growth prospects of the business jet charter industry in the region has also resulted in the creation of an extensive MRO network in the region. In the last two years, MRO capability expansion activities in North America increased considerably. In December 2019, Gulfstream Aerospace opened its approximately 66,000 square feet second MRO facility at Van Nuys Airport in Southern California. The new facility will serve as a local operating base for Gulfstream FAST Field and Airborne Support Teams. Such expansion plans of the companies in the North America region to capitalize on the growing opportunities in the business jet MRO industry is expected to propel the growth of the market in the region.

business jet mro market geography

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Competitive Landscape

The business jet MRO market is highly consolidated with few players in the market-dominating majority of market share. Some of the prominent players in the business jet MRO market are Bombardier Inc., General Dynamics Corporation, Rolls Royce plc, and Raytheon Technologies Corporation (Pratt & Whitney), Lufthansa Technik AG. To further increase their presence in the market, the companies are constructing new MRO facilities at strategic locations and acquiring the local players. Several local players are partnering with OEMs to gain the technical expertise and required MRO certification for performing on-site MRO services to the business jets. For instance, in March 2020, DC Aviation Group and Comlux signed a cooperation agreement, under which DC Aviation will perform the line maintenance and warranty work for Comlux customers based in Europe and Commonwealth of Independent States (CIS) regions. Such partnerships are expected to help the companies enhance their share and presence in the market during the forecast period.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 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 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 MRO Type

      1. 5.1.1 Engine MRO

      2. 5.1.2 Component MRO

      3. 5.1.3 Interior MRO

      4. 5.1.4 Airframe MRO

      5. 5.1.5 Field Maintenance

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Europe

      3. 5.2.3 Asia-Pacific

      4. 5.2.4 Latin America

      5. 5.2.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 DC Aviation GmbH

      2. 6.2.2 Raytheon Technologies Corporation (Pratt & Whitney)

      3. 6.2.3 ExecuJet Aviation Group AG

      4. 6.2.4 Constant Aviation, LLC

      5. 6.2.5 Lufthansa Technik AG

      6. 6.2.6 Comlux Aviation Services, LLC

      7. 6.2.7 Bombardier Inc.

      8. 6.2.8 Atlas Air Service AG

      9. 6.2.9 Western Aircraft, Inc.

      10. 6.2.10 General Dynamics Corporation

      11. 6.2.11 Flying Colours Corp.

      12. 6.2.12 Rolls-Royce plc

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Business Jet Mro Market market is studied from 2018 - 2026.

The Business Jet Mro Market is growing at a CAGR of >3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Bombardier Inc.
  • Raytheon Technologies Corporation (Pratt & Whitney)
  • Rolls-Royce plc
  • General Dynamics Corporation
  • Lufthansa Technik AG

Are the major companies operating in Business Jet Mro Market.

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