The Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2024, The aircraft maintenance, repair and overhauling services market size has grown strongly in recent years. It will grow from $78.92 billion in 2023 to $84.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to aging aircraft fleet, regulatory compliance, air travel growth, global economic conditions.
The aircraft maintenance, repair and overhauling services market size is expected to see strong growth in the next few years. It will grow to $109.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to fleet expansion, sustainability initiatives, defense and military mro, new aircraft technologies, market consolidation. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
The growing demand for commercial aircraft is expected to propel the growth of the aircraft maintenance, repair, and overhauling services market going forward. A commercial aircraft is a type of aircraft designed and used for transporting passengers or cargo for profit or business purposes. Aircraft maintenance, repair, and overhaul (MRO) services are critical for commercial aircraft to ensure their safety and airworthiness. MRO is an aircraft maintenance facility capable of performing required maintenance or inspections. For instance, in January 2023, according to Airbus SE, a Netherlands-based aerospace corporation, the company delivered 661 commercial aircraft to 84 customers in 2022, representing an increase of 8% from the 611 units sold in 2021. Therefore, growing demand for commercial aircraft is driving the growth of the aircraft maintenance, repair, and overhauling services market.
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The aircraft maintenance, repair and overhauling services market covered in this report is segmented –
1) By Type: Commercial Aircrafts MRO Services; Commercial Helicopters MRO Services; Commercial Gliders and Drones MRO Services; Aircraft Turbines MRO Services; Aircraft Engines MRO Services; Rocket Engines MRO Services
2) By Aircraft Division: Engine; Cabin Interior; Airframe; Avionics; Others
3) By Size: Wide-Body; Narrow-Body; Regional; Others
4) By Service Type: Annual Maintenance Contract; Individual Works; Others
The aircraft maintenance, repair and overhauling services market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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