Market Size of Europe Aircraft MRO Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 10.82 Billion |
| Market Size (2029) | USD 12.79 Billion |
| CAGR (2024 - 2029) | 3.42 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Aircraft MRO Market Analysis
The Europe Aircraft MRO Market size is estimated at USD 10.82 billion in 2024, and is expected to reach USD 12.79 billion by 2029, growing at a CAGR of 3.42% during the forecast period (2024-2029).
Europe was one of the worst hit regions of the world during the COVID-19 pandemic. The transportation halt mandated across the world has caused a reduction in air passenger traffic in the region. As a result, the majority of airlines have grounded their fleet that was active in service. Consequently, the maintenance activities for these aircraft have witnessed a downfall in demand during this period. However, the passenger traffic is expected to restore to pre-pandemic levels by the years 2023-2024. Owing to this, major airlines have been planning to restore their grounded aircraft. These aircraft are expected to need maintenance, repair, or overhaul activities to be airworthy for operations for airlines. This is expected to drive significant demand for MRO activities during the forecast period.
Several airlines like Air France, Eastern Airways, and Loganair among others in the region have aircraft fleets with an average age of more than 14 years. Similarly, the armed forces are also operating a fleet of aging rotorcraft and fixed-wing aircraft. The old and aging aircraft fleet generates higher demand for aircraft maintenance, repair, and overhaul (MRO) which will propel the market's growth during the forecast period.
The use of advanced technologies like augmented and virtual reality to facilitate the decision-making process, and to cut down the execution time for maintenance tasks are anticipated to support the growth of the aircraft MRO market in Europe.
