Overview and Scope
Air transport MRO refers to the process of carrying out maintenance procedures on aircraft and their parts, including their landing gear and jet engines. Air transport MRO is used to guarantee passenger security and simplify maintenance procedures.
Sizing and Forecast
The air transport mro market size has grown strongly in recent years. It will grow from $84.68 billion in 2023 to $89.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to economic cycles and market demand, safety and risk mitigation, outsourcing and cost management, technological innovations in mro, regulatory standards..
The air transport mro market size is expected to see strong growth in the next few years. It will grow to $114.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to supply chain resilience, global regulatory changes, sustainable mro practices, market shifts due to covid-19 impact. . Major trends in the forecast period include emphasis on sustainability, regulatory compliance, aging aircraft fleet, increased fleet size, digitalization and automation..
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Segmentation & Regional Insights
The air transport mro market covered in this report is segmented –
1) By Type: Engine, Line, Airframes, Other Types
2) By Service: Heavy Maintenance Inspection, Engine Service Check, Component Maintenance, Line Maintenance, Avionic Standardization, Aircraft Conversions
3) By Aircraft Type: Narrow Body Aircraft, Wide-Body Aircraft, Regional Jet, Turbo Prop, Other Aircraft Types
4) By Application: Civil Air Transport MRO, Military Air Transport MRO
Asia-Pacific was the largest region in the air transport MRO market in 2023. The regions covered in the air transport mro market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing air travel is expected to boost the growth of the air transport MRO market going forward. Air travel refers to any movement of passengers or cargo by any conveyance that can sustain controlled flight. MRO for air transport is crucial for boosting flight readiness and extending the lifespan of an aircraft’s airframe, engines, and other parts, so increased air travel is expected to boost the air transport MRO market. For instance, in April 2022, according to the International Air Transport Association (IATA), a US-based trade association of the global airline industry, the overall demand for air travel increased by 78.7% compared to April 2021 and was somewhat higher than the 76.0% growth in March 2022. It saw a 480.0% increase in international traffic for European carriers. 233.5% more capacity was available, and the load factor increased by 33.7 percentage points to 79.4%. Therefore, increasing air travel is driving the growth of the air transport MRO market.
Key Industry Players
Major companies operating in the air transport MRO market are developing innovative solutions, such as technology platforms, to meet larger customer bases, more sales, and increase revenue. A technology platform refers to a foundation or infrastructure that serves as a base for developing and implementing various technologies, applications, or services. For instance, in June 2023, Capgemini SE, a France-based information technology company, together with Amazon Web Services (AWS), a US-based cloud computing company, launched Lifecycle Optimization for Aerospace. Distinguished by its unique features, this platform is geared towards expediting the integration of circular economy practices within the aviation sector. It achieves this by automating inspection processes, optimizing lifecycle analyses for aircraft components, and offering guidance to prolong their operational lifespan. The Lifecycle Optimization for Aerospace platform ensures the secure collection and analysis of in-service operations, providing a comprehensive and evolving view of each part’s usage over time. By safeguarding the collection of historical information, the platform significantly enhances the potential reusability of aircraft components. This, in turn, fosters collaboration among stakeholders in the aerospace ecosystem—owners, operators, and original equipment manufacturers (OEMs)—leading to collective efforts to enhance the global utilization of existing products.
The air transport mro market report table of contents includes:
1. Executive Summary
2. Air Transport MRO Market Characteristics
3. Air Transport MRO Market Trends And Strategies
4. Air Transport MRO Market – Macro Economic Scenario
5. Global Air Transport MRO Market Size and Growth
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32. Global Air Transport MRO Market Competitive Benchmarking
33. Global Air Transport MRO Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Air Transport MRO Market
35. Air Transport MRO Market Future Outlook and Potential Analysis
36. Appendix
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