According to the latest report by IMARC Group, titled “Aircraft Component MRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″ the global aircraft component MRO market reached a value of US$ 18.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.5 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027. Aircraft component MRO is a set of maintenance, repair, and overhaul activities for auxiliary power units (APU), avionics, landing gears, and mechanical actuators. They assist in restoring aircraft components to their original state of performance. They also aid in providing a set of administrative and supervision activities to improve the functioning and lifespan of the aircraft.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Aircraft Component MRO Market Trends:
The global market is primarily driven by the increasing product demand from the commercial aerospace industry. Furthermore, the growing demand for commercial aviation MRO services across emerging economies is positively influencing the market growth. Apart from this, the widespread adoption of innovative software technologies for maintenance scheduling is further catalyzing market growth across the globe. Moreover, the increasing number of air passengers and gradually declining airfares are providing a boost to the market growth. Additionally, an enhanced focus on extending MRO services to military aircraft companies is also creating a positive outlook for the market.
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Global Aircraft Component MRO Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market with some of the key players being:
- Delta TechOps
- Lufthansa Technik AG
- Air France Industries KLM Engineering & Maintenance
- Hong Kong Aircraft Engineering Company Limited
- Honeywell International Inc.
- ST Engineering AAR Corp.
- Barnes Aerospace, Inc. (Barnes Group)
- FL Technics (Avia Solutions Group)
- Turkish Technic Inc. (Turkish Airlines)
Breakup by Aircraft Type:
- Narrow Body
- Wide-Body
- Regional Jets/Turboprop
Breakup by Component:
- Fuselage
- Empennage
- Landing Gear
- Wings
- Engine
- Others
Breakup by Application:
- Commercial Air Transport
- Business and General Aviation
- Military Aviation
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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