The global air transport MRO market is expected to attain a valuation of US$ 79.2 billion in 2023 and is projected to reach US$ 130 billion by 2033, trailing a CAGR of 5% during the forecast period.
The market is projected to grow due to rapid urbanization, economic growth in emerging countries, and increased business and tourism travel. Factors such as air traffic volumes, global fleet size, and aircraft utilization are projected to have a significant impact on the market. Additionally, the rise in individual air travel for business and personal reasons is expected to lead to increased aircraft production, in turn influencing the market.
The growing investments in aircraft MRO software are poised to create fresh business prospects. This software encompasses maintenance tracking, logbook tracking, flight time tracking, service bulletin management, maintenance scheduling, budget forecasting, electronic task card management, and work order management.
Significant foreign direct investments were observed in India, including the aircraft maintenance, repair, and overhaul sectors, in May 2021. As a result, investments and acquisitions are anticipated to provide profitable opportunities for market expansion.
Regulatory compliance with organizations such as the Federal Aviation Administration (FAA) and International Civil Aviation Organization (ICAO) exerts influence on the market. Additionally, the increasing demand for old planes and environmental considerations highlight the importance of ongoing monitoring and maintenance for these aircraft, creating market traction.
Report Attribute | Details |
---|---|
Expected Market Value (2023) | US$ 79.2 billion |
Anticipated Forecast Value (2033) | US$ 130 billion |
Projected Growth Rate (2023 to 2033) | CAGR 5% |
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The air transport MRO market was worth US$ 65.6 billion in 2018. It accumulated a market value of USD 76.5 billion in 2022 while thriving at a CAGR of 3.9% during the historical period.
Demand for air transport MRO increased at a sluggish pace, exhibiting a 3.9% CAGR between 2018 and 2022. A persistent decline in sales hampered the market growth significantly, as air travel and transport witnessed downturns due to the novel COVID-19 outbreak.
FMI has projected the air transport MRO market to expand at a moderate 5% CAGR during the forecast period. With fast-track vaccination drives and the resumption of movement, the market is expected to recover in the forthcoming years.
Improvements in product offerings, along with growth in air cargo transportation might continue fuelling growth in the global air transport MRO market. Apart from this, increasing focus on aircraft maintenance, efforts to provide the latest onboard services, and the demand for cost-effective servicing solutions are estimated to further improve growth prospects on the market.
In recent years, maintenance costs have exceeded fuel costs in the air transport industry. The sudden surge in maintenance costs has compelled airlines to rely on digital solutions to monitor physical assets such as engines and cockpit controls in real-time, which might allow them to plan maintenance protocols effectively.
Just like connective technologies and cloud services, mobile solutions are paving the way into the control rooms of airlines. Furthermore, air transport MRO players are getting keen on developing software as a service (SaaS) and other effective closely connected mobile solutions to enable users to access aircraft management remotely. These technologies eliminate the overhead costs of hardware acquisitions, maintenance, licensing, installation, and support.
Airlines and MRO providers have raised concerns regarding toughened maintenance of physical hardware over the years, which in turn has created opportunities for the development of data-driven technologies.
Cloud-based mobile solutions can be integrated into the workforce with no physical installation. Consequently, airlines can focus on the return on investments and superior onboard comfort, without worrying about the physical maintenance of infrastructure.
Leveraging blockchain technology in the aviation industry has opened opportunities for MRO providers and organizations regarding maintenance, data security, and passenger information, helping organizations to increase efficiency and accuracy levels.
Blockchain is emerging as one of the superior connective technologies in the aviation industry, helping organizations redefine their operations while saving costs and improving maintenance practices.
This technology can be used for recording the location of vital assets in real time in a reliable manner. Important information such as passenger data, flight path, baggage onboarding, and tracking lost entities, which can help the management take necessary actions during a crisis.
Blockchain can significantly improve data logging and updating for aircraft parts’ conditions, thereby reducing the time consumed in periodic inspections and maintenance. In addition, blockchain can provide predictive maintenance to eliminate any challenges that may affect airline operations.
With a myriad of other benefits, MRO service providers can use blockchain to provide verifiable documents for components that they have installed. These developments are anticipated to bode well for the air transport MRO market during the assessment period
The aviation industry in the United States plays a humongous role in supporting the country’s economy. Currently, the United States has a large fleet of commercial and military aircraft in the world, which makes MRO services highly significant.
The presence of leading OEMs and MRO providers in the United States places it as an attractive market. FMI projects, North America’s air transport MRO market is estimated to expand at a 4.8% CAGR. In addition, stringent government regulations about timely aircraft inspection are encouraging airlines and MRO providers to sign contracts and agreements for required services in the long run.
The introduction of new aircraft models and technologically advanced on-board services might continue driving demand for air transport MRO in the United States.
As per FMI’s analysis, the United Kingdom is anticipated to dominate Europe’s air transport MRO market. In the market study, FMI projects the Europe market to expand at a 4.5% CAGR.
The rapid adoption of advanced technologies such as augmented reality (AR), virtual reality (VR), and blockchain to streamline aircraft maintenance processes is going to continue boosting market growth.
VIP, corporate, and business aviation operators in the United Kingdom, rely hugely on MRO services for private jets as they are typically owned by high-net-worth individuals. This sector operates expensive and sophisticated aircraft and private jets that need servicing from time to time as they do not fly as much as commercial aircraft, making MRO services vital.
China’s aviation industry is one of the most significantly growing industries in the world. The demand for MRO services in the region is anticipated to expand with a CAGR of 4.9% during the forecast period. Many airports are under construction as airlines are adding new routes and aircraft, which in turn is driving expansions in the air transport MRO market.
Various global and regional players are investing in strategic collaborations with OEMs to devise efficient MRO services to meet growing aircraft servicing requirements. This is creating opportunities for the growth of market players to launch technology-enabled MRO services, thereby augmenting market growth.
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As per FMI’s analysis, the engine segment is anticipated to account for maximum applications of air transport MRO services. The segment is expected to account for over 48% market share by the end of the forecast period. Also, the demand for MRO services in the engine segment is projected to expand with a CAGR of 5.5% from 2023 to 2033. Maintenance and safety of engines are kept at the forefront of the aviation industry, as even a slight disruption could result in serious consequences.
Increasing joint ventures between MRO providers and OEMs facilitates technological advancements in engine manufacturing, which is increasing the lifecycle and maintenance parameters of engines. These factors are driving many applications of MRO services in engines as compared to other aircraft components and equipment.
Based on aircraft type, the narrow-body segment is anticipated to reign supreme. The narrow-body aircraft are anticipated to accumulate over 45% market share while exhibiting a CAGR of 5.7% during the forthcoming years. Moreover, in recent years, traditional aircraft are notably being replaced by narrow-body aircraft. This, in turn, is resulting in the need for sophisticated maintenance services to support single-aisle jets.
Narrow-body aircraft are frequently used in private and commercial services and are restricted to short journeys. Increasing the use of narrow-body aircraft might further create growth opportunities in the air transport MRO market.
Start-ups play a vital role in identifying growth opportunities. With their ability to efficiently convert inputs into outputs and adapt to market uncertainties, start-ups contribute significantly to the expansion of the industry. Some of the startups involved in manufacturing and providing services in the air transport MRO market are:
The market for air transport MRO is highly competitive, with several prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players working in the market are AAR Corporation, KLM Engineering & Maintenance, Delta TechOps, HAECO Ltd., Lufthansa Technik AG, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Guangzhou Aircraft Maintenance Engineering Company Limited, Sabena Technics, Aeroman, Airbus SAS, SIA Engineering Company (SIAEC).
Some Recent Developments in the Air Transport MRO Market
Report Attribute | Details |
---|---|
Market Value in 2023 | US$ 79.2 billion |
Market Value in 2033 | US$ 130 billion |
Growth Rate | CAGR of 5% from 2023 to 2033 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in US$ billion and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | By application type, By aircraft type, By region |
Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; The Middle East and Africa |
Key Countries Profiled | The United States of America, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, India, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, South Africa, Israel |
Key Companies Profiled | AAR Corporation; KLM Engineering & Maintenance; Delta TechOps; HAECO Ltd.; Lufthansa Technik AG; Turkish Technic Inc.; Singapore Technologies Engineering Ltd; Guangzhou Aircraft Maintenance Engineering Company Limited; Sabena Technics; Aeroman; Airbus SAS; SIA Engineering Company (SIAEC) |
Customization | Available Upon Request |
the market is valued at US$ 79.2 billion in 2023.
The market is likely to experience a 6.2% CAGR until 2033.
The global market is predicted to value at US$ 130 billion in 2033.
The market captured a CAGR of 3.9% from 2018 to 2022.
Sabena Technics, Aeroman, and, Airbus SAS are the essential market players.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Application Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application Type, 2023 to 2033
5.3.1. Airframe
5.3.2. Engine
5.3.3. Component
5.3.4. Line
5.4. Y-o-Y Growth Trend Analysis By Application Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Application Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Aircraft Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Aircraft Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Aircraft Type, 2023 to 2033
6.3.1. Narrow Body Aircraft
6.3.2. Wide-Body Aircraft
6.3.3. Regional Jet
6.3.4. Turbo Prop
6.4. Y-o-Y Growth Trend Analysis By Aircraft Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Aircraft Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. South Asia
7.3.5. East Asia
7.3.6. Oceania
7.3.7. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Application Type
8.2.3. By Aircraft Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Application Type
8.3.3. By Aircraft Type
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Application Type
9.2.3. By Aircraft Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Application Type
9.3.3. By Aircraft Type
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Application Type
10.2.3. By Aircraft Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Application Type
10.3.3. By Aircraft Type
10.4. Key Takeaways
11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. India
11.2.1.2. Malaysia
11.2.1.3. Singapore
11.2.1.4. Thailand
11.2.1.5. Rest of South Asia
11.2.2. By Application Type
11.2.3. By Aircraft Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Application Type
11.3.3. By Aircraft Type
11.4. Key Takeaways
12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.2. By Application Type
12.2.3. By Aircraft Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Application Type
12.3.3. By Aircraft Type
12.4. Key Takeaways
13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Application Type
13.2.3. By Aircraft Type
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Application Type
13.3.3. By Aircraft Type
13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Application Type
14.2.3. By Aircraft Type
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Application Type
14.3.3. By Aircraft Type
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Application Type
15.1.2.2. By Aircraft Type
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Application Type
15.2.2.2. By Aircraft Type
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Application Type
15.3.2.2. By Aircraft Type
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Application Type
15.4.2.2. By Aircraft Type
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Application Type
15.5.2.2. By Aircraft Type
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Application Type
15.6.2.2. By Aircraft Type
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Application Type
15.7.2.2. By Aircraft Type
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Application Type
15.8.2.2. By Aircraft Type
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Application Type
15.9.2.2. By Aircraft Type
15.10. India
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Application Type
15.10.2.2. By Aircraft Type
15.11. Malaysia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Application Type
15.11.2.2. By Aircraft Type
15.12. Singapore
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Application Type
15.12.2.2. By Aircraft Type
15.13. Thailand
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Application Type
15.13.2.2. By Aircraft Type
15.14. China
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Application Type
15.14.2.2. By Aircraft Type
15.15. Japan
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Application Type
15.15.2.2. By Aircraft Type
15.16. South Korea
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Application Type
15.16.2.2. By Aircraft Type
15.17. Australia
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Application Type
15.17.2.2. By Aircraft Type
15.18. New Zealand
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Application Type
15.18.2.2. By Aircraft Type
15.19. GCC Countries
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Application Type
15.19.2.2. By Aircraft Type
15.20. South Africa
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Application Type
15.20.2.2. By Aircraft Type
15.21. Israel
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Application Type
15.21.2.2. By Aircraft Type
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Application Type
16.3.3. By Aircraft Type
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. AAR Corporation
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. KLM Engineering & Maintenance
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Delta TechOps
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. HAECO Ltd.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Lufthansa Technik AG
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Turkish Technic Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Singapore Technologies Engineering Ltd
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Guangzhou Aircraft Maintenance Engineering Company Limited
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Sabena Technics
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Aeroman
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.11. Airbus SAS
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.12. SIA Engineering Company (SIAEC)
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
Industrial Automation
June 2022
REP-GB-703
250 pages
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