Global Aviation MRO Market is Forecast to Grow at a CAGR of Around 10% in the Coming Years to Surpass $ 113 Billion by 2025
NEW YORK, July 21, 2020 /PRNewswire/ -- Global Aviation MRO Market, By Industry (Passenger Aviation, Military Aviation, Cargo Aviation), By Component (Engine, Airframe, Line, Avionics, Modifications, Others), By Aircraft Type (Narrow Body, Wide Body, Regional Jet, Others), By End User (OEM, Aircraft Operator, Others), By Region, Competition, Forecast & Opportunities, 2025
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Global aviation MRO market is forecast to grow at a CAGR of around 10% in the coming years to surpass $ 113 billion by 2025.The global aviation MRO market is driven by growing need to maintain and renovate in-service and aging aircraft in order to optimize their performance.
Moreover, initiatives by the governments in terms of implementation of strict norms and policies is positively impacting the market across the globe. Also, increasing technological innovations and digitalization in aviation MRO is further expected to bolster the growth of market over the next few years.
The global aviation MRO market is segmented based on industry, component, aircraft type, end user, and region.Based on aircraft type, the market can be categorized into narrow body, wide body, regional jet and others.
Out of these segments, the narrow body aircraft segment dominated the market in 2019 and the segment is expected to maintain its leading position the market during the forecast period as well.This can be attributed to the fact that airline operators are engaged in upgrading their plane models in order to facilitate cost-saving leading to fuel efficiency, which has subsequently strengthened the fleet of narrow-body planes.
Along with this, wide body aircraft segment is also anticipated to grow at a robust pace during the next five years on account of enormous transformation in terms of development of turbofan engines. Moreover, wide body planes incur a high-level of MRO expenditures, which can be accredited to complexity as well as high maintenance requirements.
Major players operating in the global aviation MRO market include SIA Engineering Company, SR Technics, British Airways, HAECO (Hongkong), AAR Corporation, Air-France Industries KLM Engineering & Maintenance, Bombardier Inc., Delta TechOps, GE Aviation, Hong Kong Aircraft Engineering Co. Ltd., Lufthansa Technik, MTU Aero Engines AG, Triumph Group, Inc., and others.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and estimate the market size of global aviation MRO market from 2015 to 2018.
• To estimate and forecast the market size of global aviation MRO market from 2019 to 2025 and growth rate until 2025.
• To classify and forecast global aviation MRO market based on industry, component, aircraft type, end user, company and regional distribution.
• To identify dominant region or segment in the global aviation MRO market.
• To identify drivers and challenges for global aviation MRO market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global aviation MRO market.
• To conduct pricing analysis for global aviation MRO market.
• To identify and analyze the profile of leading players operating in global aviation MRO market.
• To identify key sustainable strategies adopted by market players in global aviation MRO market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the products and presence of all major players across the globe.
The analyst calculated the market size of global aviation MRO market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Aviation MRO service providers, vendors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to aviation MRO
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, vendors, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global aviation MRO market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Industry:
o Passenger Aviation
o Military Aviation
o Cargo Aviation
• Market, By Component:
o Engine
o Airframe
o Line
o Avionics
o Modifications
o Others
• Market, By Aircraft Type:
o Narrow Body
o Wide Body
o Regional Jet
o Others
• Market, By End User:
o OEM
o Aircraft Operator
o Others
• Market, By Region:
o North America
United States
Canada
Mexico
o Europe
Germany
France
United Kingdom
Egypt
Spain
o Asia-Pacific
China
Japan
India
Australia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Nigeria
o South America
Brazil
Chile
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global aviation MRO market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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