Market Size of GCC Aircraft MRO Industry
Study Period | 2019-2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 3.25 Billion |
Market Size (2029) | USD 6.35 Billion |
CAGR (2024 - 2029) | 14.46 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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GCC Aircraft MRO Market Analysis
The GCC Aircraft MRO Market size is estimated at USD 3.25 billion in 2024, and is expected to reach USD 6.35 billion by 2029, growing at a CAGR of 14.46% during the forecast period (2024-2029).
Major regional economic powers, such as the UAE, Saudi Arabia, and Qatar, are spending significant amounts on procuring new aircraft. Several other countries in the GCC are also focusing on the procurement of refurbished aircraft and the upgradation of the existing military aircraft fleet. This factor is significantly driving the growth of the aircraft MRO market.
One of the challenges of setting up MROs in the GCC region is attracting skilled labor or training the labor and retaining them. Though this challenge exists worldwide, it has started to appear in the region in recent years as both the aircraft fleet and the number of MRO players have increased significantly over the last two decades. However, the increase in the demand from the fleet growth is expected to outpace the maintenance technician supply in the coming years.
The countries in the GCC region like the United Arab Emirates and Saudi Arabia, among others, are one of the major hubs for the aviation industry. Due to this, the governments are supporting foreign MRO providers to expand their regional presence through partnerships and joint ventures with local players. This is expected to support the growth of the aircraft MRO market in the GCC countries during the forecast period.