Aircraft Maintenance, Repair and Overhaul (MRO) Global Market to Reach $55.6 Billion by 2026, Growing at a CAGR of 3.7%

DUBLIN, July 11, 2022 /PRNewswire/ -- The "Aircraft Maintenance, Repair and Overhaul (MRO) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The global market for Aircraft Maintenance, Repair and Overhaul (MRO) estimated at US$44.8 Billion in the year 2020, is projected to reach a revised size of US$55.6 Billion by 2026, growing at a CAGR of 3.7% over the analysis period.

Global Aircraft Maintenance, Repair and Overhaul (MRO) Market to Reach $55.6 Billion by 2026
Aircraft MRO or Aircraft Maintenance, Repair and Overhaul, is the process of providing scheduled upkeep, care and airworthiness of an aircrafts and its engine and components. Strong growth in the global market is being driven by expansion of the global aviation industry and rising demand for air travel.

Increasing disposable income levels and expansion of the middle-class have made air travel more affordable that are driving the uptake of air travel globally. These factors are also prompting various airlines to invest in fleet expansion to accommodate the increasing demand.

Key Topics Covered:

I. METHODOLOGY
II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• The Ever-Present Threat of Air Accidents Reinforces the Importance of MRO
• Despite the Strides Taken in Safe Flying, Ever-Present Threat of Plane Crashes Drives Emphasis on Airworthiness & Plane Maintenance: Global Number of Fatalities on Commercial Flights for the Period 2010-2019
• Commercial Aviation Industry: The Barometer of Health of the MRO Market
• Global Airline Industry: Number of Scheduled Passengers Boarded (in Million) for 2010-2020E
• Aging Aircraft Fleet Presents Opportunities for MRO Services
• Aging Aircraft & the Ensuing Need to Ensure Airworthiness of Older Airplanes to Spur Opportunities in the MRO Services Market: Average Age (in Years) of Globally Operating Aircraft Fleet for 2020 & 2030
• Average Age (in Years) of Select Airlines Around the World
• Expanding Aircraft Fleet to Fuel Need for Routine MRO Services
• Expanding Global Aircraft Fleet to Inject a Steady Stream of Routine Maintenance Revenues for MRO Service Providers: Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2039
• Corrosion & Fatigue Wear and Tear: The Most Important Aspect of MRO
• High Cost of Corrosion for the Transportation Industry Makes Corrosion Management Systems (CMS) an Integral Part of Aircraft MRO Programs: Percentage Breakdown of Cost of Corrosion by Industry for the Year 2019
• Smart Assets Management & Focus on Predictive and Condition Based Maintenance Bodes Well for Aircraft MRO Services
• Aircraft Maintenance Decision System Based on Real-time Condition Monitoring Grows in Prominence: Global Aircraft Health Monitoring (AHMS) Market Size (US$ Billion) for the Years 2019, 2022 and 2025
• Aircraft Big Data: A Key Enabler of Effective Condition Based Monitoring
• Rising Prominence of Nondestructive Evaluation & Inspection of Aircraft
• Use of Fillers in Aerospace Composites & Resultant High Risk of Moisture Infiltration Spurs Opportunities for Diagnostic NDT Testing for Crack & Corrosion Detection: Global Aerospace Composites Market (In US$ Billion) for the Years 2020, 2023 & 2026
• Avionics MRO Emerges into a Key Revenue Spinner
• Expanding Avionics Market Drives Parallel Opportunities for Avionics MRO in the Form of Avionics Upgrade: Global Avionics Market (In Million) for the Years 2019, 2022 & 2025
• As Defense Budgets Come Under Intense Pressure, Military MRO Market to be Impacted
• Defense Spending Trends Set Demand Dynamics for Military Electro Optics and Infrared Systems: Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2019
• Leading Countries Ranked by Defense Budgets in US$ Billion for 2019
• Global Military MRO Market Breakdown (in %) by Aircraft Platform: 2020E
• Low Cost Carriers (LCCs) Expand MRO Opportunity in Asia-Pacific
• Low Cost Airlines Market Gives Rise to Need for Right Sized MRO Practices and Procedures: Global Low Cost Airlines Market (In US$ Billion) for the Years 2019, 2022 & 2025
• Need to Reduce Operating Costs Drives Growth in MRO Outsourcing Services
• Developing Countries Emerge as MRO Hubs
• Narrowing Wage Differentials Threaten to Disrupt MRO Outsourcing
• Growing Use of Composites in Airframes Drive MRO Providers to Offer Improved Tools and Techniques
• Engine MRO Segment Drives Aircraft MRO Market
• Cost Competitive PMA Certified Parts Grow in Importance in the MRO Market
• Threat of PMA Forces OEMs to Reevaluate their Role in the MRO Market
• Trend towards Digitization of MRO Operations
• Latest Technological Trends Transforming the Aircraft MRO Market
• Big Data to Transform Aviation Sector
• Cloud Services Gain Traction in MRO Industry
• Drones to Reduce Maintenance Time
• Digital Twins: The New Standard of Maintenance in Aviation Industry
• Aviation Maintenance: A Glance into Recent Technological Advancements
• Shortage of Skilled Technicians: A Major Challenge for Labor Intensive MRO Industry
• US Civil Aviation Employment by Sector for 2020

4. GLOBAL MARKET PERSPECTIVE

 Companies Mentioned

• AAR Corp
• Aeroman
• AIRBUS SAS
• Air France KLM Engineering & Maintenance
• Ameco Beijing
• AMETEK MRO
• Aviation Technical Services, Inc.
• Bedek Aviation Group
• Bombardier, Inc.
• Delta TechOps
• GMF AeroAsia
• Honeywell International Inc.
• Hong Kong Aircraft Engineering Company
• Lufthansa Technik AG
• MTU AeroEngines AG
• Sabena Technics
• Singapore Technologies Aerospace (ST Aerospace)
• SR Technics
• SIA Engineering Company
• STAECO
• TAP Maintenance & Engineering
• The Boeing Company

For more information about this report visit https://www.researchandmarkets.com/r/gp1npg

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SOURCE Research and Markets