Market Size of Business Jet MRO Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 1.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Business Jet MRO Market Analysis
The business jet MRO market is anticipated to increase from USD 31.28 billion in 2022 to USD 34.58 billion in 2028, registering a CAGR of 1.68% during the forecast period.
- The COVID-19 pandemic severely impacted business jet operations in 2020, reducing business jet utilization by over 20% in major markets like the United States and Europe. This decrease in flight activity impacted the business jet MRO market in 2020. However, in 2021, with the recovery of business jet flight activity, the demand for business jet MRO activities also witnessed a significant boost.
- The presence of aging business jets in operations and demand for customization in private jet aircraft are 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 factor is expected to hamper the market's growth in the coming years.
- With many new models of business jets entering service and the aftermarket activity of business jets strengthening, refurbishment providers are experiencing strong demand for their services. Moreover, customers prefer to change their interiors with attractive materials, furnishings, colors, and other custom touches to make their aircraft cabins unique. Such refurbishments are anticipated to propel the growth of the market.
