What is Aircraft Maintenance Market?
Aircraft maintenance is the performance of tasks required to ensure the continuing airworthiness of an aircraft or aircraft part including inspection, maintenance, and repair procedures is crucial in the development and application of new materials and structures. Presently, connected aircraft technologies are changing everything in aviation industry, including the way operators service and maintaining complex on-board mechanical and electrical systems. Key market players are applying advanced analytics technique includes machine learning and artificial intelligence and Internet of Things to generate accurate and actionable insights for operations and maintenance crews.
Highlights from Aircraft Maintenance Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | GE (United States), Rolls-Royce (United Kingdom), MTU AERO ENGINES AG (Germany), Monarch Aircraft Engineering (Unite Kingdom), Lufthansa Technik (Germany), Pratt & Whitney (United States), Honeywell (United States), Air France/KLM (France), Safran Aircraft Engines (France), Delta TechOps (United States), Standard Aero (United States), SAMCO Aircraft Maintenance (Netherlands), STS Aviation Group (United States), United Technical Operations (United States) and Nayak Group (Germany) |
Aircraft Maintenance market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Maintenance market throughout the forecasted period.
GE (United States), Rolls-Royce (United Kingdom), MTU AERO ENGINES AG (Germany), Monarch Aircraft Engineering (Unite Kingdom), Lufthansa Technik (Germany), Pratt & Whitney (United States), Honeywell (United States), Air France/KLM (France), Safran Aircraft Engines (France), Delta TechOps (United States), Standard Aero (United States), SAMCO Aircraft Maintenance (Netherlands), STS Aviation Group (United States), United Technical Operations (United States) and Nayak Group (Germany) are some of the key players profiled in the study. Aircraft Maintenance Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Civil Aircraft and Military Aircraft |
Type | Line Maintenance, Heavy Airframe (Base) Maintenance, Engine Overhaul and Component Maintenance |
Service Type | Component Replacement & Rigging Service,Defect Rectification Service,Engine & APU Service,Aircraft on Ground (AOG) Service,Line Station Setup & Management Service |
On the basis of geography, the market of Aircraft Maintenance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Technological Advancement in the Aircraft Maintenance in the Aviation Industry and Surging Demand of MRO for Maintaining Engines
Market Growth Drivers:
Increase in Global Fleet Size Due to Rise in Global Air Passenger Traffic, Surge in the Number of Aviation Accidents Increasing the Importance of Line Maintenance Activities and Increase in Adoption of Connected Aircraft to Analyze Predictive, Prescriptive, and Condition-Based
Challenges:
Compliance With Stringent Aviation Regulations
Restraints:
Dearth of Skilled Manpower in the Aviation MRO Industry and Lack of Common Data Standards and Risks Associated With Cybersecurity
Opportunities:
The Growth in Expansion of Business in the Commercial Aviation Industry and Increasing Upgradation and Replacement of Old Aircraft With New Generation Aircraft
Key Target Audience
MRO Service Providers, Airline Operators, Manufacturers of Aircraft Components, Aircraft OEMs and Government and Certification Bodies
Market Leaders & Development Strategies
In October 2019, Rolls-Royce Completes the Acquisition of Siemens’ Electric and Hybrid-Electric Aerospace Propulsion. Rolls-Royce says the execution of the deal, announced in June this year, underlines the fit of these activities to their strategy to champion electrification and will help accelerate their “ambitions as we look to play a major role in the third era of aviation.
In September 2022, Rolls-Royce and Air China announce Joint Venture for a new maintenance repair and overhaul facility in Beijing. Air China currently has all three engine types in its fleet. The facility will offer MRO services to Air China as well as our other airline customers based in Greater China and beyond.
“The Aircraft Maintenance Division of the Federal Aviation Administration ensures the airworthiness of civil aircraft. It develops and standardize regulations, national directives, policy procedures, and advisory material governing the certification, inspection, and surveillance of maintenance aspects for General Aviation (GA), air carrier and commercial operators; airmen (mechanics, repairmen, and parachute riggers), avionics, and air agencies (Aviation Maintenance Technician Schools (AMTS) and repair stations).”