Aircraft MRO Market
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<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018<br />
Industry Survey, Growth, Competitive Landscape<br />
and Forecasts to 2023<br />
PREPARED BY<br />
<strong>Market</strong> Research Future<br />
(Part of Wantstats Research & Media Pvt. Ltd.)
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<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018<br />
<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018: Industry Survey, Growth, Competitive Landscape<br />
and Forecasts to 2023<br />
<strong>Aircraft</strong> <strong>MRO</strong> sales market size is expected to expand owing to increase in fleet numbers of aircraft. It is<br />
anticipated to exceed a valuation of USD 95 Bn by 2023. Maintenance, repair, and overhaul (<strong>MRO</strong>)<br />
services are deemed vital by aviation agencies for maintenance of the aircraft and prevention of crashes.<br />
Different <strong>MRO</strong> centers use their own technologies for providing rapid and efficient services to carriers.<br />
The launch of new airlines coupled with replacement of legacy aircraft likely to reflect favorably on the<br />
market in the years to come. Increased efforts by original equipment manufacturers (OEMs) to provide<br />
such services is anticipated to bode well for major airlines. Increase in trade activities and frequent air<br />
travel opted by consumers are factors expected to bolster market growth in the coming years. Demand<br />
from private airline operators and chartered plane owners is expected to lead to <strong>MRO</strong> centers in<br />
countries with high air traffic. On the flip side, scarcity of skilled personnel can pose a challenge to<br />
market growth in the coming years.
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<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018<br />
“Taste the market data and market information presented through more than 50 market data tables<br />
and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content<br />
TOC & market synopsis on “<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> Research Report - Global Forecast 2023”<br />
Prominent market players include Lufthansa Technik AG, Honeywell International Inc., AirbusGroup<br />
Limited, Delta TechOps, and Singapore Technologies (ST) Aerospace. In 2016, ST Aerospace, Air France<br />
KLM Engineering & Maintenance, Delta TechOps, and Lufthansa Technik AG accounted for close to 35%<br />
market share. OEMs are establishing their own <strong>MRO</strong> divisions to optimize aircraft maintenance costs<br />
and keep overheads to a minimum. Consolidation of existing divisions is a common trend in the industry<br />
to counter the encroachment of third-party <strong>MRO</strong>s as evident by such moves by Airbus and Boeing.<br />
Partnerships between OEMs and <strong>MRO</strong>s is also expected to lead to new alliances in the market.
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<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018<br />
Segmentation:<br />
The aircraft <strong>MRO</strong> market is segmented on the basis of <strong>MRO</strong> type, aircraft type, application, and region.<br />
By <strong>MRO</strong> type, the market is divided into airframe, component, engine, line maintenance, and<br />
modification. The engine segment is touted to generate significant revenue by 2023 owing to the<br />
component being a vital part of repair, maintenance, and periodic checking. Development of nextgeneration<br />
aircraft is anticipated to create opportunities for the segment.<br />
Types of aircraft requiring <strong>MRO</strong> include wide-body, narrow-body, and others. The narrow-body aircraft<br />
segment is likely to gain traction due to high maintenance services provided to single-aisle jets.<br />
Military aviation, business & general aviation, and commercial air transport are major market<br />
applications. The commercial air transport segment is anticipated to generate significant revenue for the<br />
market owing to the presence of various low-cost carriers. Expansion of air fleets by carriers such as<br />
Etihad Airways, Qatar Airways, and Emirates is expected to lead to spending for maintenance of aircraft.<br />
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<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018<br />
Application & Major Players in this Research:<br />
<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> Prominent Players:<br />
Mahindra Group, a recognized Indian conglomerate, has reportedly decided to partner with ShinMaywa<br />
Industries, a Japanese firm, for setting up <strong>MRO</strong> units in India. These centers are expected to be used in<br />
the manufacture and assembly of specific components and parts of ShinMaywa US-2, an amphibian<br />
aircraft. The aircraft will be used in border surveillance and patrol missions.<br />
Aerostar S.A., a Romanian company, has decided to expand its <strong>MRO</strong> capacity by setting up a new center<br />
at Iasi International Airport. The new facility recently carried out the servicing of aircraft owned by<br />
Pegasus Airlines, a low-cost Turkish airline.<br />
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<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> 2018<br />
<strong>Aircraft</strong> <strong>MRO</strong> <strong>Market</strong> Competitive Analysis<br />
Commenting on the report, an analyst from <strong>Market</strong> Research Future (MRFR)’s<br />
team said:<br />
Regions covered in the market report include North America, Latin America (LATAM), Asia<br />
Pacific (APAC), Middle East & Africa (MEA), and Europe. The APAC market is projected to<br />
exhibit high growth due to the presence of major airlines such as Air Asia, IndiGo, and<br />
Tigerair. In addition, low labor costs make the region lucrative for <strong>MRO</strong> outsourcing. This is<br />
evident with major North American airlines outsourcing 60% of their maintenance-related<br />
services to Asia.<br />
The India market within the APAC region is expected to offer opportunities for growth.<br />
Infrastructural development coupled with adoption of latest technologies is making the<br />
region viable for investment. Measures taken by the Indian government in reducing the<br />
taxes on spare parts could be a relief for the industry. Tax exemption proposals for <strong>MRO</strong><br />
units can boost domestic market growth.<br />
The Europe aircraft <strong>MRO</strong> market is anticipated to witness an upsurge in demand owing to<br />
retrofitting of new devices in legacy aircraft. This is evident by continuous maintenance<br />
conducted on single-aisle jets in the region.
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