Aircraft MRO Market Is Estimated To Reach A Value Of USD 144,500 Million By 2033 | Report By We Market Research
The present and anticipated performance of the corresponding end-use verticals is used to further evaluate the demand for aircraft maintenance and repair (MRO) in the Aircraft MRO Market. Analyzing the need for aircraft maintenance and repair across a range of application domains also reveals potential applications that could propel market expansion at a significant clip.
Aircraft MRO Market gained a value of USD 83,160 million in 2022 and is estimated to reach a value of USD 144,500 million by 2033, depicting a sigmoid growth curve behavior within the industry at a CAGR of 5.4% during the forecast period.
Aircraft’s are becoming a complex structure, with more technological advancement and digital integration. Fly-by-wire system replaces the mechanical linkages between the pilot’s controls and the aircraft’s control surfaces with electronic signals. This system makes aircraft MRO market more maneuverable and responsive to pilot inputs.
Detailed company profiles, revenue shares, portfolio innovations, regional product footprints, important developmental strategies, pricing structures, target markets, and short-term plans of market leaders are revealed by the competitive landscape analysis of the aircraft maintenance and repair (MRO) market. The reader is given a clear understanding of the competitive landscape and what makes a company stand out in order to attract new target customers throughout this entire section.
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In order to assist readers in concentrating on the most significant facets of growth, factors that drive and challenge growth are deeply investigated. Aircraft maintenance and repair companies would find it useful to have a comprehensive understanding of the current and future obstacles to their business expansion, as the study presents a series of market growth constraints.
To guarantee its accuracy, every piece of data included in the report was taken directly from reliable sources. Only the opinions of industry experts are used in surveys about the present and future state of the aircraft maintenance and repair (MRO) market. Coverage of the report is extensive and includes company profiles, expert recommendations, regional analysis, and important market dynamics.
Competitive Analysis
Some of the major companies operating within the aircraft MRO market are: AAR Corp., Airbus SE, Delta Airlines, Inc. (Delta TechOps), Hong Kong Aircraft Engineering Company Limited, KLM U.K. Engineering Limited, Lufthansa Technik, MTU Aero Engines AG, Raytheon Technologies Corporation (Previously United Technologies Corporation), Singapore Technologies Engineering Ltd, TAP Maintenance & Engineering (TAP Air Portugal).
Lufthansa Technik is the largest MRO provider in the world, with a market share of approximately 15%. The company offers a comprehensive range of MRO services, including line maintenance, base maintenance, engine maintenance, component repair, and modification. Lufthansa Technik has a global network of facilities, including over 30 maintenance hangars and workshops.
Regional Analysis
Based on the regional scope, the aircraft MRO market is analyzed across North America, Europe, APAC, South America and MEA. North America dominates the market with an active share of 35% in 2023, owing to number of commercial aircraft routes is the United States, with over 200,000 routes.
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Regional aircraft are becoming more popular as airlines look for ways to reduce costs and improve efficiency. Regional aircraft typically require more frequent MRO services than commercial aircraft, thereby boosting the aircraft MRO market.
The growing popularity of regional aircraft is having a number of positive impacts on the aviation industry. For example, regional aircraft are helping to make air travel more affordable and accessible to people in smaller communities. Regional aircraft are also helping to reduce the environmental impact of the aviation industry.
Based on component, the aircraft MRO market is bifurcated into Airframe, Engine, Landing Gear, Interior Components, Auxiliary Power Unit (APU) and Others. As depicted below, engines and airframes account for the majority of the aircraft MRO industry. This is due to the fact that these components are the most complex and expensive to maintain. Landing gear, interior components, and APUs are also important components, but they require less frequent and less complex maintenance.
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