Market Share of North America Aircraft MRO Industry
The aircraft MRO market in North America is semi-consolidated in nature, with the presence of several players holding significant shares in the market. Some of the prominent players in this market are Lockheed Martin Corporation, General Electric Company, The Boeing Company, Rolls-Royce plc, and RTX Corporation. The region is marked by the presence of several foreign MRO service providers as well. MRO service providers are increasing their focus on IT and technological developments to increase efficiency and reduce the time consumed on MRO activities. The primary revenue generation strategy of market players is to win long-term contracts from the armed forces, airlines, and freight carriers.
Strategic alliances among players may help them win more contracts while also expanding their reach into unexplored markets in the long run. Predictive maintenance solutions based on artificial intelligence (AI) are also expected to gain traction throughout the projected period. Potential expenditures would be necessary to improve MRO operators' IT capabilities for maintenance execution, supply chain management, mobility enhancement, and adoption of e-signatures. MROs are increasingly using advanced data analytics for inventory management to plan, stock, and optimize spares as needed at the lowest possible cost. Such tools allow operators to operate more efficiently, profitably, and contribute to the digitalization of North America aircraft MRO operations.
North America Aircraft MRO Market Leaders
Lockheed Martin Corporation
The Boeing Company
General Electric Company
RTX Corporation
Rolls-Royce plc
*Disclaimer: Major Players sorted in no particular order
