Nigeria Aircraft Maintenance Repair And Overhaul Market Size

Nigeria Aircraft Maintenance, Repair, and Overhaul (MRO) Market Analysis

The Nigeria Aircraft Maintenance Repair And Overhaul Market size is estimated at USD 330.16 million in 2024, and is expected to reach USD 386.97 million by 2029, growing at a CAGR of 2.66% during the forecast period (2024-2029).

• To boost the growth of the aircraft MRO sector in Nigeria, regulatory bodies are placing more emphasis on aircraft MRO services, and the Nigerian Civil Aviation Authority (NCAA) is increasing the number of licenses issued for carrying out aircraft maintenance jobs. This move is likely to attract investments from prominent players in the region. Additionally, the increasing number of grounded aircraft in Nigeria will create long-term opportunities for the aircraft maintenance, repair, and overhaul market.
• In recent years, Nigeria has experienced a significant rise in air travel, leading to an increase in demand for new aircraft. This growing air traffic and the resulting increase in the number of aircraft will also create a demand for aircraft maintenance, repair, and overhaul (MRO) services. Moreover, the Federal Airports Authority of Nigeria (FAAN) predicts that Nigeria's passenger traffic is expected to grow by 7% over the next ten years. This growth in air traffic will increase the number of aircraft in operation, leading to a greater demand for MRO services. Consequently, the market for aircraft MRO is expected to grow across the country.
• On the other hand, the shortage of skilled labour and lack of availability of space for carrying out the required maintenance on commercial aircraft can be the key factors that may hamper the market's growth during the forecast period.