Commercial Aircraft Maintenance, Repair and Overhaul (MRO) Market
In the past decade, the commercial aircraft MRO industry has steadily gained altitude. Improving economic conditions has fueled the growth in air travel and therefore aircraft usage. To cater to the growing demand, new aircraft are being procured along with the introduction of new routes. Several airlines instead of procuring new aircraft are opting to upgrade their existing aircraft fleet which requires overhauling and thus propelling the growth of the MRO industry.
Increasing Customer Preference towards LCC Airlines
Low-cost carriers are expanding at a fast pace in the airline's industry. Many profitable airlines in the world like that of Southwest Airlines, Ryan Air, and Indigo are low-cost carriers. Low-cost carriers occupy more than 1/4th of the Middle East and Africa airline market, and they are well poised on their way to occupy 1/3rd of the market share in a few years. Thereby, passengers who are willing to pay a substantial amount of money per ticket to travel via full-cost airlines are expecting more facilities, and even regular passengers of full-cost airlines sometimes shift towards low-cost airlines because of reduced fares and little difference in amenities offered. This trend gives an indication of 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 provided to customers. To maintain the growing LCC flights in operating conditions, necessary MRO services should be available thereby driving the aircraft MRO market.
Segmentation by Geography
The global market for commercial aircraft MRO will experience the highest growth in the Asia Pacific and the Middle East region. This is mainly due to the growing demand for aircraft fleet modernization in these regions. In January 2017, a Memorandum of Understanding (MOU) was signed between Airbus and China Airlines. Under the MoU, Airbus will provide China Airlines with support in the development of the airline’s maintenance, engineering and technical training capabilities in Taiwan. Airbus will support the carrier’s maintenance capabilities for all Airbus aircraft types operated by China Airlines which includes A320, A350 XWB, and A330/A340 families.
Source: Mordor Intelligence Analysis
Source: Mordor Intelligence Analysis
AAR Corp, Delta TechOps, General Electric Company, Rockwell Collins, Inc., and Lufthansa Technik among others.
Oct 2018: US airline operator has awarded a five-year contract to Triumph Group for providing maintenance, repair, and overhaul to CFM56-7B nacelle components for the 737NG aircraft. Under this contract, Triumph Product Support will provide services to inlet cowls, fan cowls, and thrust reversers on the CFM56-7B engines on the carrier’s 737NG fleet.
Jun 2018: Airbus and Thai Airways International (THAI) have signed an agreement to form new joint venture maintenance and overhaul (MRO) facility at U-Tapao International Airport near Bangkok.
Sep 2017: AAR, a global aviation services company has announced that they have signed a 10-year agreement to provide for airframe maintenance for Air Canada and also has agreed to acquire two premier aviation facilities.
Base year for estimation
2018 – 2023
Revenue in USD billion and CAGR from 2018 – 2023
North America, South America, Middle East & Africa, Asia Pacific and Europe
Revenue forecast, market share analysis, and market dynamics
Reasons to Purchase this Market Report
- Provides Latest Insights into the commercial aircraft MRO market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Detailed analysis of the region expected to witness the fastest growth in the market
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support along with the Market Estimate sheet (in Excel)
Customization of the Report
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1.1 Scope of Study
1.2 Market Definition
1.3 Executive Summary
2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. MARKET INSIGHTS
3.1 Current Market Scenario
3.2 Market Trends
3.3 Industry Attractiveness - Porter's Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the Industry
4. MARKET DYNAMICS
5. COMMERCIAL AIRCRAFT MRO MARKET, SEGMENTED BY MRO TYPE
5.1 Engine MRO
5.2 Components MRO
5.3 Interior MRO
5.4 Airframe MRO
5.5 Modifications MRO
5.6 Field Maintenance
6. COMMERCIAL AIRCRAFT MRO MARKET, SEGMENTED BY GEOGRAPHY
6.1 North America
6.4 South America
6.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.2 Market Share Analysis
8. COMPANY PROFILES
8.1 AAR Corp.
8.2 Delta TechOps
8.3 General Electric Company
8.4 Hong Kong Aircraft Engineering Co., Ltd.
8.5 Lufthansa Technik AG
8.6 Pratt and Whitney (United Technologies Corporation)
8.7 Rockwell Collins, Inc.
8.8 SIA Engineering Company Ltd
8.9 TAP Maintenance & Engineering
8.10 Singapore Technologies Engineering Ltd
8.11 MTU Aero Engines AG
8.12 Rolls-Royce Holding PLC*
(*list not exhaustive)
9. FUTURE OF THE MARKET