Overview and Scope
Aircraft MRO (maintenance, repair and overhaul) refers to services provided to the aircraft to make sure the aircraft is in good condition. It includes all the repair and maintenance services required for aircraft.
Sizing and Forecast
The aviation mro market size has grown strongly in recent years. It will grow from $73.68 billion in 2023 to $79.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to aircraft fleet growth, aging aircraft maintenance, outsourcing trend, focus on safety and reliability, global air traffic growth..
The aviation mro market size is expected to see strong growth in the next few years. It will grow to $104 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to fleet expansion and modernization, data-driven maintenance, rise of aviation in emerging markets, regulatory changes and compliance, shift to outsourced mro services.. Major trends in the forecast period include rise of new entrants and competition, focus on sustainability, adoption of predictive maintenance, shift towards outsourcing, regulatory compliance and safety standards, advancements in aircraft technology..
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Segmentation & Regional Insights
The aviation mro market covered in this report is segmented –
1) By Service Type: Engine Overhaul, Airframe Maintenance, Line Maintenance, Modification, Other Service Types
2) By Aircraft Type: Narrow Body, Wide Body, Regional Jet, Other Aircraft Types
3) By End User: Original Equipment Manufacturer (OEM), Aircraft Operator, Other End Users
Top 5 Major Players:
- Delta Airlines Inc
- AAR Corp
- Hong Kong Aircraft Engineering Company Limited
- Airbus SE
- Singapore Technologies Engineering Limited
North America was the largest region in the aviation MRO market in 2023. The regions covered in the aviation 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
Growing air travel is expected to propel the growth of the aviation MRO market going forward. Air travel refers to traveling from one place to other by aircraft. Aviation MRO provides maintenance and repair services for aircraft which keeps the flights fit and in flyable condition at all times which is essential considering air travel is the most preferred mode of transport for international trips. For instance, in April 2022, according to the International Air Transport Association, a Canada-based international trade union of international airlines and the demand for air travel increased by 78.7% as compared to April 2021. Furthermore, the association expects the total number of passengers to reach 7.8 billion by 2036. Therefore, the increasing air travel is driving the aviation MRO market.
Key Industry Players
Major companies operating in the aviation MRO market are using artificial intelligence to sustain their position in the market. AI in aviation MRO (Maintenance, Repair, and Overhaul) enhances operational efficiency by predicting equipment failures, optimizing maintenance schedules, and automating routine tasks. For instance, in October 2023, EmpowerMX, a US-based software development company launched EMX Vision. EMX Vision is an artificial intelligence (AI)-based module designed to transform MRO (Maintenance, Repair, and Overhaul) planning and execution. EMX Vision helps MRO organizations to improve profitability with maintaining or reducing operational costs. EMX Vision uses artificial intelligence (AI) and machine learning to accurately forecast operational dimensions, for efficient cost management and resource allocation. It can predict material requirements based on work schedules and historical data.
The aviation mro market report table of contents includes:
1. Executive Summary
2. Aviation MRO Market Characteristics
3. Aviation MRO Market Trends And Strategies
4. Aviation MRO Market – Macro Economic Scenario
5. Global Aviation MRO Market Size and Growth
….
31. Global Aviation MRO Market Competitive Benchmarking
32. Global Aviation MRO Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aviation MRO Market
34. Aviation MRO Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Aviation MRO Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Aviation MRO Market, Segmentation By Aircraft Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Aviation MRO Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Delta Airlines Inc. Financial Performance
Table 75: AAR Corp. Financial Performance
Table 76: Hong Kong Aircraft Engineering Company Limited Financial Performance
Table 77: Airbus SE Financial Performance
Table 78: Singapore Technologies Engineering Limited Financial Performance
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