Europe Aircraft Maintenance Repair Overhaul (MRO) Market to Grow at Impressive Rate through 2028
Rapid technological development and upsurge in air traffic
due to large number of passengers is expected to drive the Europe Aircraft
Maintenance Repair Overhaul (MRO) Market through 2028.
According
to TechSci Research report, “Europe Aircraft
Maintenance Repair Overhaul (MRO) Market - By Country Competition Forecast and
Opportunities, 2028”, MRO stands for maintenance, repair, and overhaul in aviation. To maintain or restore a
product to operating condition, aircraft MRO services provide a range of
solution and techniques, such as overhaul, remote visual inspection (RVI),
non-destructive techniques (NDT), replacement, and defect rectification. A
properly maintained aircraft or one of its parts can assist its businesses in
avoiding serious threats to its operation. Therefore, many organizations in
aviation sector concentrate primarily on developing suitable business processes
and infrastructure. Manufacturing companies are driven to boost production
levels and provide maintenance services for their aircraft as a result of the
growing demand for air travel in Europe.
One of the largest markets for aircraft MRO is in Europe. The airlines have been forced to
increase flight movements and deployment of new aircraft as a result of
the constantly rising air passenger traffic. Maintaining component
availability, consistency, and quality requires aircraft MRO activities. MRO
services are necessary for airline operators to improve fuel efficiency and
guarantee aircraft safety. As original equipment manufacturers (OEMs) are
primarily focused on the development of the aircraft, the MRO market has
emerged as a profitable sector of the aviation industry.
Owing to an increase in regional air travel, the
market for aircraft maintenance, repair, and overhaul (MRO) in Europe is
expanding. The number of people that travelled to Europe in 2019 was over 682
million, making it the most popular travel destination internationally. It is expected
that European air travel will rise in the coming years. External factors such
as fleet size, aircraft utilization, and air traffic volumes will have a
substantial impact on the industry. Offering MRO services to manufacturers of
both commercial and military aircraft is a primary concern for growing
European economies. Aviation infrastructure, economic expansion, and a rise in
passenger volume are driving factors behind the use of aircraft maintenance
services. On the basis of aircraft type,
fixed wing aircraft dominated the market. On the basis of component engine, MRO segment captured majority of share as it is a highly critical part
of aircraft, and it needs periodic maintenance. On the basis of end user, commercial
aircrafts use on daily basis and it requires aircraft MRO service in short
period compared to military aircraft.
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The Europe Aircraft
Maintenance Repair Overhaul (MRO) Market can be segmented based on aircraft
type, component, end user, country, and by company. On the basis of aircraft
type, it is divided into fixed wing aircraft and rotary wing aircraft. Based on
component, the market is segmented into engine MRO, avionics MRO, airframe MRO,
cabin MRO, landing gear MRO, and others. On the basis of end user, the Europe Aircraft
MRO Market is divided into commercial, military, and aviation.
Some of the major companies operating in the Europe Aircraft Maintenance
Repair Overhaul (MRO) Market include:
- AAR Corp.
- Barnes Group Inc.
- GE Aviation
- FLTechnics, UAB.
- Safran SA
- Lufthansa Technik
- Delta TechOps
- Rolls-Royce plc.
- Collins Aerospace
- Bombardier Inc.
These are the key players
developing advanced technologies and launching new products to stay competitive
in the market. Other competitive strategies include mergers with tech firms,
new product developments, and marketing activities to increase customer outreach.
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“The increasing
number of aircrafts and its maintenance for continuous connectivity in the European
region, is expected to drive the market in this region during the forecast
period. Moreover, rapid urbanization and air traffic in developing countries
boost the Aircraft Maintenance Repair Overhaul (MRO) Market in upcoming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
“Europe Aircraft Maintenance Repair Overhaul (MRO)
Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2028” has
evaluated the future growth potential of Europe Aircraft Maintenance Repair
Overhaul (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 the Europe Aircraft
Maintenance Repair Overhaul (MRO) market.
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