Status : Published | Published On : Jul, 2024 | Report Code : VRAD12032 | Industry : Aerospace and Defense | Available Format :
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Page : 205 |
Industry Overview
The Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is anticipated to grow at a CAGR of 1.7% from USD 31.2 billion in 2023 to USD 35.6 billion in 2030 during the forecast period from 2025 to 2030.
Aircraft maintenance, repair, and overhaul (MRO) in aviation include the meticulous inspection, repair and servicing of aircraft to ensure safe and efficient operation. It involves adhering to stringent safety standards and applying advanced technologies to maintain airworthiness and extend operational lifespan. MRO is critical in ensuring aircraft reliability, safety, and regulatory compliance. Aircraft MRO includes wide range of services, including regular maintenance checks, component repairs, and major overhauls to keep aircraft in most favorable condition. The market is driven by the continual need for airlines and aircraft operators to comply with strict safety regulations, maintain high levels of operational reliability and extend the lifespan of their fleets. With the global aviation industry experiencing growth and technological advancements, the demand for MRO services is expected to increase significantly in the coming years. The growth of air fleets, aging aircraft and the use of new technologies are changing the market landscape, creating opportunities for expansion and innovation.
Market Segmentation
Insight by Service Type
On the basis of service type, the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is segregated into Engine Overhaul, Airframe Maintenance, Line Maintenance, Modification and Components. The engine segment overhaul dominate the market throughout the forecast period. Engine MRO includes field maintenance and depot maintenance. Depot-level maintenance includes substantial maintenance, repair and complete rebuilding of the engines, parts, and sub-assemblies. Field level maintenance covers shop type work and on-equipment maintenance activities.
Insight by Organization Type
Based on organization type, the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is segmented into Airline/Operator MRO, Independent MRO and OEM MRO. Independent MRO is expected to account for the largest share of the market during the forecast period due to ever-increasing market which is further fueled as OEMs outsource their ancillary activities to MRO service providers and specialized ESPs.
Insight by Aircraft Type
According to aircraft type, the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is segmented into Narrow-Body, Wide-Body, Regional Jet and Others. The narrow body aircraft in the commercial aircraft MRO market shall dominate the market as narrow-body aircraft is a smaller type of aircraft which is used for the short-distance cross-border flights and domestic flights due to its small and short-distance journey.
Insight by Generation
On the basis of generation, the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is segmented into Old Generation, Mid Generation and New Generation. The new-generation segment dominate the market during the forecast period. The new-generation aircrafts are more fuel-efficient aircrafts and can be powered by sustainable fuel.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 31.2 Billion |
Revenue Forecast in 2030 |
U.S.D. 35.6 Billion |
Growth Rate |
1.7% |
Segments Covered in the Report |
By Service Type, By Application, By Organization Type, By Aircraft Type, By Generation |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, South America and Middle East and Africa |
Industry Dynamics
Growth Drivers
Airlines and operators increasingly outsource maintenance, repair, and overhaul (MRO) services to reduce expenses, enhance efficiency and focus on core competencies. The growing desire for air travel, notably in emerging markets and underserved locales, propels the growth of regional airline fleets. Consequently, this surge underscores an amplified requirement for MRO services customized to cater to the distinct needs of regional aircraft and operators, addressing the unique challenges inherent in maintaining and servicing these specialized fleets. This transition drives expansion in the global MRO market, particularly in emerging economies benefiting from lower labor costs. The agreement targets supplying de-icers and heating systems to global aircraft and MROs. To meet the rising demand of passenger expectations for reliable, safer and comfortable air travel, airlines prioritize investments in maintenance, repair, and overhaul (MRO) activities. By ensuring their fleets' reliability and performance, airlines create opportunities along with passenger satisfaction for market growth. Technological advancements in aviation, predictive maintenance, including composite materials, digitalization and advanced analytics are transforming the MRO industry. These innovations optimize maintenance processes, which is driving the demand for specialized services.
Restraints
Managing MRO supply chains involves orchestrating multiple suppliers to procure parts and materials promptly, balancing cost and quality. Complex supply chain management system is the major restraint of aircraft maintenance, repair and overhaul services market. Unforeseen disruptions, such as supply shortages or geopolitical tensions, demanding agile responses to sustain operational continuity and customer satisfaction. Such hurdles impede market growth. The aviation sector confronts a critical shortage of skilled maintenance technicians and engineers, complicating MRO operations.
Geographic Overview
North America is expected to dominate the aircraft maintenance, repair, and overhaul (MRO) market. This market is strengthened by initiatives from the region's government to develop zero-emission vehicles, which ensures sustained dominance throughout the forecast period. Asia-Pacific is expected to show the fastest growth in the aircraft maintenance, repair, and overhaul (MRO) market. This growth is driven by increased air travel in the region fueled by growing middle-class passengers.
Competitive Insights
Airbus SE is an European multinational aerospace corporation. The company design and manufacture commercial aircraft and has separate defence, space and helicopter divisions.
L3Harris Technologies is the Trusted Disruptor in the defense industry. Company deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security.
Key Players Covered in the Report
The key players of Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market are Airbus, AAR, L3Harris Technologies, Inc., SIA Engineering Company, Hong Kong Aircraft Engineering Company Limited, ST Engineering, TAP, Delta Air Lines, Inc., KLM UK Engineering Limited, Lufthansa Technik, MTU Aero Engines AG, RTX, GENERAL ELECTRIC, Rolls-Royce plc, and AFI KLM E&M.
Recent developments by Key Players
Boeing has entered into an agreement to acquire Spirit AeroSystems. The merger is an all-stock transaction at an equity value of approximately USD 4.7bn. Boeing's acquisition of Spirit will include substantially all Boeing-related commercial operations, as well as additional commercial, defence and aftermarket operations.
SIA Engineering Company along with Air India will work on the planning construction, development and operationalisation of the airline’s base maintenance facilities. The Bengaluru facilities will serve the overall maintenance, repair and overhaul needs of the aircraft fleet in Air India Group which comprises both Boeing and Airbus aircraft.
The Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market report offers a comprehensive market segmentation analysis along with the estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research
Aircraft Maintenance Repair and Overhaul (MRO) Services Market