About Aircraft Component MRO
Aircraft Component MRO, or Maintenance, Repair, and Overhaul, refers to the specialized services provided to maintain the various components that make up an aircraft. These components are crucial for the safe and operational condition of the aircraft, and regular MRO is essential to ensure they function properly throughout the aircraft's lifespan. There are various types of aircraft component MRO, each focusing on specific components and systems. The aircraft component MRO market is expected to grow steadily in the coming years, driven by factors such as the increasing global air traffic, the aging aircraft fleet, and the growing demand for cost-effective maintenance solutions.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Aircraft Component MRO market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lufthansa Technik (Germany), Azul Airlines (Brazil), Acoustic Technology, Inc. (United States), Astral Aviation Limited (Kenya), Boeing (United States), BAE Systems (United Kingdom), MTU Aero Engines AG (Germany), China Eastern Airlines (China), Collins Aerospace (United States) and Embraer S.A. (Brazil) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are GENERAL ELECTRIC (United States), Hong Kong Aircraft Engineering Company Limited (China), Honeywell International Inc. (United States), IAI (Israel) and Jet Aviation Inc. (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Aircraft Component MRO market by and Region.
On the basis of geography, the market of Aircraft Component 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). If we see Market by Component, the sub-segment i.e. Engine will boost the Aircraft Component MRO market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Aircraft , the sub-segment i.e. Wide-Body Aircraft will boost the Aircraft Component MRO market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Increasing Popularity of Low-Cost Carriers (LCCs)
Market Growth Drivers:
Increasing Global Air Traffic and Growing Aging Aircraft Fleet
Challenges:
Complexities in Repair and Overhaul Processes
Restraints:
High Costs and OEM Restrictions
Opportunities:
Technological Advancements in Aircraft Components and Emerging Economies
Market Leaders and their expansionary development strategies
In 2021, Lufthansa Technik AG and MTU Aero Engines AG announced a strategic partnership to jointly provide maintenance, repair, and overhaul (MRO) services for the Pratt & Whitney PW1000G family of geared turbofan engines. The partnership is expected to enhance the competitiveness of both companies in the global MRO market.
In April 2023, Azul Airlines unveiled its new business unit that deals with new technologies to maintain, repair and overhaul service. The MRO Service are open for various aircraft such as A321, Embraer E1/E2, and Boeing 737-400F.
Key Target Audience
Service Provider, Government Bodies, Potential Investors, New Entrants and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.