The global aircraft MRO market is expected to reach USD 94.25 billion by 2022, registering a CAGR of 6.17%. The engine MRO market holds the major share, followed by the interior maintenance, field maintenance, airframe MRO, components maintenance & repair and other modifications. With the increasing air traffic, carriers are concerned about the health maintenance of their current fleets, or ready to opt for new aircraft in case they have no other option, as the cost included in buying a new aircraft is considerably higher than the maintenance of the older fleets. Different MROs have introduced improvements in older 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.
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 owes to the emergence of low-cost carriers, which do not have the capability or infrastructure; thus, find outsourcing a better economic option.
Global Aircraft Engine MRO Market Revenue, 2016 -2022
The low-cost carriers are expanding at a fast-pace in the airline industry. These airlines offer minimal passenger amenities, and 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. The governments have started various initiatives to encourage airports to support MRO as a strategic activity. A holistic approach is being adopted by the governments to ensure adequate space, which is mandatorily allocated at various airports within the country. 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.
In order to minimize the operating costs, airlines have been working to reduce the aircraft weight. This involves installing new seats, and systems, which is expected to boost the interior MRO market. Changing seats is also a common occurrence, around the world, and happens in cases where role of the aircraft gets changed. Additionally, due to the highly competitive market, airlines are focusing on increasing seat density.
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BREAKING NEWS- May 24, 2017, Kenya Airways chose EPCOR, a subsidiary of AFI KLM E&M, to service and repair all its APUs. This contract relates to the auxiliary generators for 787s (APS5000), 737 NGs (GTCP131-9B) and Embraer 190s (APS2300).
THE AIRCRAFT MRO MARKET SEGMENTATION, BASED ON TYPE INCLUDES:
THE AIRCRAFT MRO MARKET SEGMENTATION, BASED ON GEOGRAPHY INCLUDES:
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