global-aircraft-maintenance-repair-and-overhaul-market-industry
Published

January 2017

Global Aircraft Maintenance, Repair and Overhaul Market - Growth, Trends And Forecasts (2015 - 2020)

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The global MRO market is estimated to be about USD 65.99 billion in 2016 and is expected to grow at a CAGR of 6.17% to USD 82.86 billion by the end of 2020 and USD 94.25 billion by 2022. The majority share is held by the engine MRO market, followed by the interior maintenance, field maintenance, airframe MRO, components MRO and modifications MRO. Maintenance, repair and overhauls are very critical in the sustenance of an aircraft over time. With the growing air traffic, carriers are more inclined towards maintaining the health of their current fleet and going for new aircraft, only if they have no other option, since the costs included in buying a new aircraft are considerably higher than the maintenance of the current fleet. Different MROs have introduced improvement processes to enhance efficiency; while several are using new technological systems to gain additional upgrades and prepare for the bigger data requirements of the next-generation aircraft and power plants.

Most major providers cater only to commercial customers, with a minority offering services to government and defense clients. MRO providers can be categorized into in-house, independent third party, airline third-party and original equipment manufacturers (OEMs). The shift from in-house to outsourced MRO services is due to the emergence of low-cost carriers, which do not have the capability or the infrastructure; hence, find outsourcing a better option, economically.

Market Dynamics

The low-cost carriers are expanding at a fast-pace in the airline industry. These airlines offer minimal passenger amenities, and they aim to squeeze in as many seats as possible to maximize the revenue per trip. The latest trend gives an indication towards the general state of full-service airlines. With such tough competition from low-cost players, full-fare carriers are trying to add value to the services they provide to the customers. The governments have started various initiatives to encourage airports to support MRO as a strategic activity. A holistic approach is being adopted by governments to ensure that adequate space is mandatorily allocated at various airports within the country for MRO. However, a lot of initiatives and measures are required to be implemented to encourage various MRO activities in these developing countries, especially in the highly potential Asia-Pacific market.

The report focuses on upcoming technologies and trends in the industry and the need and ways to shift from reactive to proactive maintenance. It also emphasizes on the presence of major players across the globe and the markets they cater to. Asia-Pacific is expected to lead the market due to the growing number of aging fleets, followed by North America.

Breaking News- On Oct 23, 2016, both companies (Rockwell & B/E) announced that avionics and aircraft connectivity provider Rockwell will buy cabin interiors leader B/E, to diversify its customer mix and increase its geographic presence, for USD 8.3 billion— USD 6.4 billion in stock and cash, as well as, assuming USD 1.9 billion in B/E debt, in a move that would deepen Rockwell’s share of any aircraft.  

Market Segmentation

The market has been segmented by type, and geography.

Segmentation by Type:

  • Engine MRO
  • Component MRO
  • Line MRO
  • Airframe MRO
  • Modification MRO
  • Field Maintenance

Segmentation by Geography:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

What the Report Offers

  • Market analysis of the global aircraft MRO market with specific assessments and competition analysis on the global and regional scale.
  • Market definition along with the identification of key drivers, opportunities, and restraints.
  • Expert interviews and their insights on market shift, current and future outlook and factors impacting vendors short term and long term strategies.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
  • Extensively researched competitive landscape section with profiles of major companies along with their market share.
  • Identification and analysis of the macro and micro factors that affect the global aircraft MRO market on a global and regional scale.
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