Global Aircraft MRO Market Leading Players, Growth Prospects, Recent Developments, Upcoming Trends, and Forecast to 2029

[akash Arjun pingale]

Global Aircraft MRO Market: size was valued at US$ 73.43 Bn. in 2021 and the total revenue is expected to grow at 4.9% through 2022 to 2029, Aircraft MRO Market is reaching nearly US$ 107.66 Bn. by 2029.

Global Aircraft MRO Market Overview: 

The Global Aircraft MRO Market report includes New recent developments, trade rules, import-export assessment, business model, value chain optimization, market share, the impact of domestic and localized market participants, evaluates opportunity in terms of emerging income pockets, shifts in market restrictions, tactical market growth analysis, sales volume, segment’s market growths, application niches and dominance, product approvals, product releases, geographic regions, etc.

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Global Aircraft MRO Market Dynamic: 

According to the most recent updates from IATA, ICAO, the Airports Council International (ACI), the United Nations World Tourism Organization (UNWTO), the World Trade Organization (WTO), and the International Monetary Fund (IMF), international air passenger traffic is expected to drop by 50-55 % in 2020 compared to the baseline year. In comparison to 2019, the airline revenue-per-kilometer (RPK) is expected to fall by 48 %. In terms of gross operating revenues, the airlines are estimated to lose between USD 289 million and USD 387 billion. Europe and Asia-Pacific are expected to be the most active regions.

The demand for MRO facilities is likely to rise as the number of air passenger carriers grows in response to the growing number of passengers choosing to travel by air. The loosening of foreign direct investment restrictions in the aviation industry is prompting airlines to outsource maintenance tasks to ensure that planes run smoothly. The aircraft market will grow rapidly, owing to an increase in the number of air passengers flying each year as a result of increased flight frequencies, lower ticket prices, and increased route availability. These factors are expected to increase demand for MRO services, which would help the industry thrive.

Market Scope:

A competitor's information is provided in the highly competitive environment for the Global Aircraft MRO market. The information includes a business overview, financials, revenue generated, market potential, research and development investment, new market efforts, geographical presence, firm advantages and disadvantages, product introduction, and application dominance. The information shown above is only related to the businesses' focus on the Global Aircraft MRO industry.

Global Aircraft MRO Market Segmentation: 

Based on Service Type, the market is sub-segmented into Engine overhaul, airframe maintenances, line maintenances, modification, and components. The line maintenances segment is expected to reach USD $ 8.9 Bn. at the end of 2026. Inspection, identification, and correction of problems on the aircraft body are all part of aircraft line maintenance. Important aeroplane maintenance and periodic repairs are also part of the operation. As several carriers have moved heavy and base maintenance work to emerging regions, primarily Asia, because they offer cheaper and more efficient services, line maintenance and planning, which was previously preferred to be kept in-house, has accounted for a larger share of MRO outsourcing in recent years.

The United States, Canada, Japan, China, and Europe are expected to fuel the global Line Maintenance segment's 2.2 % CAGR. By the end of the forecast period, these regional markets, which had a combined market value of US$5.5 billion in 2020, will have grown to US$6.4 billion. The Asia-Pacific market is expected to reach US$1.2 billion by 2026, led by countries like Australia, India, and South Korea, while Latin America will grow at a 2.5 % CAGR over the same period.

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Global Aircraft MRO Market Key Players:

• AAR Corp
• 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
• Airgas, Inc. (Air Liquide S.A.)
• WESCO International, Inc.
• Sonepar SA
• W.W. Grainger, Inc.
• Interline Brands, Inc.
• Motion Industries
• Greenwich Aero Group
• Abu Dhabi Aircraft Technologies
• Turkish Technic

Regional Analysis:

The causes for the global Global Aircraft MRO market's rise, and the industry's numerous users, are explored. Market participants, geographies, and special requirements all give data. This study proposal is ready for the market and offers a full evaluation of all important advancements that are now prevalent in all market sectors. Statistics, infographics, and demonstrations have been used to provide key data analysis.

COVID-19 Impact Analysis on Global Aircraft MRO Market:

The COVID-19 pandemic resulted in a severe and prolonged decline in production utilization, while travel bans and facility closures kept people away from their facilities, leading the Global Aircraft MRO market to slow in 2020. The new research features COVID 19's impact on the Global Aircraft MRO# market, as well as insights, analysis, estimations, and projections.

Key Questions Answered in the Global Aircraft MRO Market Report are: 

• Which segment was responsible for the largest share in the Global Aircraft MRO market?
• How was the competitive scenario of the Global Aircraft MRO market in 2020?
• Which are the key factors responsible for the Global Aircraft MRO market growth?
• Which region held the maximum share in the Global Aircraft MRO market in 2020?

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