Press Release

Aviation MRO Market to Witness Significant Growth until 2025

Stringent airworthiness norms and policies coupled with increasing requirement for proper maintenance to drive the growth of global aviation MRO market

According to TechSci Research report, 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, Forecast & Opportunities, 2025, global aviation MRO market is expected to witness robust CAGR during the forecast period. Growing need to address wear and tear of components is one of the major factors accounting for the growth of global aviation MRO market. Moreover, surging demand for low-cost carriers is expected to bode well for the growth of global aviation MRO market through the forecast period. In addition to this, digitalization of aircraft MRO services is positively influencing the growth of global aviation MRO market. Also, the maintenance essential for the in-service and aging fleet is making headway for the growth of global aviation MRO market across the globe. Along with this, supportive government funding is also expected to positively contribute to the market growth until 2025. Also, numerous accidents related to aviation are caused because of carelessness in maintenance activities, therefore the authorities have tightened the norms for timely maintenance and repair works, which in turn is bolstering the market growth. Furthermore, improved travel route networking is aiding the market growth. The number of aging aircraft fleet are increased due to which the global aviation MRO market is expected to rev up during the next five years. However, there are certain factors that might act as major impediments to the growth of global aviation MRO market during the forecast period such as lack of supporting infrastructure in developing economies with the high cost of health IT tools and aircraft downtime due to carrying out of complex MRO operations.

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Global aviation MRO market can be segmented based on industry, component, aircraft type, end user, company, and region. Considering the component, the market is fragmented into engine, airframe, line, avionics, modifications, and others. The engine segment dominated the global aviation MRO market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast period as well. This is because of rising technological advancements and increase in spending by airline companies on aircraft maintenance and spare part.

SIA Engineering Company, SR Technics, United Airlines, 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, are among others are the leading players operating in global aviation MRO market. The leading players are adopting several growth strategies to enhance the market scenario of aviation MRO. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen market position.

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“Asia-Pacific region is forecast to dominate the global aviation MRO market during the next five years on account of rise in air-traffic in the region. Furthermore, rapid growth in international trade coupled with rising demand for new aircraft is also contributing to the growing trend. In addition to this, growing tourism along with the availability of technologically advanced and next generation widebody aircrafts is further expected to bolster the growth of global aviation MRO market in the years to come.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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, Forecast & Opportunities, 2025 has evaluated the future growth potential of global aviation MRO market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global aviation MRO market.

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