What is Narrow-Body Aircraft Mro Market?
High growth in the Air travel industry will help to boost global narrow body aircraft MRO. Aircraft Maintenance, Repair, Overhaul (MRO) is essential for sustaining the lifespan of narrow-body aircraft and assuring the crashworthiness of a narrow body aircraft. The narrow-body aircraft service consists of maintenances, routine checks, overhauls, repairs, and modifications disbursed on narrow-body aircraft and their elements. The rising international trade between nations has improved the travel occurrences of cargo planes. Therefore, it is crucial to conduct timely checks or repairs of airplanes to confirm efficient performance and harmless air travel. Also Check deep dive analysis on "
Narrow-Body Aircraft Mro Market Size Analysis and Forecast".
Highlights from Narrow-Body Aircraft Mro Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | GE Aviation (United States), Honeywell Aerospace (United States), Lufthansa Technik (Germany), Pratt & Whitney (United States), Rolls-Royce (United States), Air Works (India), Jet Maintenance Solutions (Lithuania), GMF AeroAsia (Indonesia), Singapore Technologies Aerospace (Singapore) and FL Technics Jet JSC (United Kingdom) |
CAGR | 3.19% |
The global narrow-body aircraft MRO market is highly fragmented in nature owing to the presence of more players. They are majorly focusing on research and developments and technological developments to increase their efficiency and reduce the time consumed on MRO activities. Also, they are adopting merger & acquisition, partnership, and collaboration with local players and governments to increase their reach and to win long-term contracts from armed forces, airlines, and freight carriers. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Narrow-Body Aircraft Mro market throughout the forecasted period.
GE Aviation (United States), Honeywell Aerospace (United States), Lufthansa Technik (Germany), Pratt & Whitney (United States), Rolls-Royce (United States), Air Works (India), Jet Maintenance Solutions (Lithuania), GMF AeroAsia (Indonesia), Singapore Technologies Aerospace (Singapore) and FL Technics Jet JSC (United Kingdom) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are ST Aerospace (Singapore), AAR (US), AIR FRANCE KLM (France), Delta TechOps (United States), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Iberia Maintenance (Spain), SIA Engineering Company (Singapore), TAP Maintenance & Engineering (Spain), Turkish Technic Inc. (Turkey) and Indamer Aviation Private Limited (India). Narrow-Body Aircraft Mro Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Servicing, Maintenance and Renovated |
Type | Airframes and Modification, Components, Engines and Line Maintenance |
End User | Military,Commercial |
On the basis of geography, the market of Narrow-Body Aircraft Mro 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). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Rise in Popularity of Radio-Frequency Identification (RFID) and The Emergence of Portable Device
Market Growth Drivers:
Growing Demand In Aircraft Fleet and Rising Narrow Body Aircraft Market
Challenges:
Rising Concern Regarding Environmental Issues
Restraints:
High-Cost Mountainous Of Narrow Body Aircraft MRO and The Dearth of Skilled Workforce
Opportunities:
Growing Traffic of Airline Scheduled Passengers and Increasing Disposable Income of the People Using Aircrafts and The Growing Adoption of Predictive Maintenance Tools
Key Target Audience
MRO Service Providers, Suppliers and Distributors, Industry Associations, Private and Government Research Associations, Government Regulatory Bodies and Others
Market Leaders & Development Strategies
On 19th June 2019, GE Aviation and Lufthansa Technik AG enlarge their collaboration on Boeing 777X MRO services. The companies have signed a maintenance, repair and overhaul (MRO) agreement under which Lufthansa Technik will be GE's authorized service provider for the backup generator/converter (BUG and BUC) and for certain Electrical Load Management Systems (ELMS) components on the new Boeing 777X aircraft.
On 29th March 2019, FL Technics, a global provider of integrated aircraft maintenance, repair, and overhaul services, a part of Avia Solutions Group, has just signed a joint operations agreement to open an EASA certified Line maintenance station in Dubai International Airport (DXB). and On 6th Dec 2018, FL Technics, a global provider of integrated aircraft maintenance, repair & overhaul services, has announced further expansion to Asia region by opening a new warehouse in Singapore.
The maintenance of aircraft is highly regulated to ensure safe operations. In civil aviation, national regulations are coordinated under international standards, established by the International Civil Aviation Organisation (ICAO). The ICAO standards have to be implemented by local airworthiness authorities to regulate maintenance tasks, personnel, and inspection system. Maintenance staff must be licensed for the tasks they carry out. The MRO must be approved in accordance with EASA or FAA Part 145 – a regulation that defines how a maintenance and repair organization must be run in order to provide the highest acceptable level of flight safety. The Part 145 certificate contains the scope of approval which specifies what a company is allowed to do.