The global aircraft MRO market size is expected to reach USD 104.46 billion by 2025, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. The growing influx of aircraft OEMs into the MRO sector traditionally dominated by specialized maintenance providers has opened up new avenues for the market growth.
As
per the International Air Transport Association (IATA), MRO activities
contribute to about 15% of the total operating cost of the airlines. The OEMs
as well as specialized MRO providers are making significant investments in new
technologies to enhance their service quality and operational efficiency.
Profitability of aviation industry hinges on the maintenance of old fleet
rather than the sale of new aircraft, which has elevated the importance of the
aircraft MRO market.
The
service providers in the market constitute of separate department of airline
operators or independent MRO providers. These service providers are
transforming into full-service suppliers and their role is expected to become a
one stop-shop to cater to all of the airline’s MRO needs. For instance,
Lufthansa Technik have advanced technical capabilities and have succeeded in
selling power-by-the-hour contracts.
In
North America, independent MRO providers offer lucrative opportunities for
experienced and skilled workers and attractive pay packages to address the
growing demand for maintenance activities. For instance, mechanics and avionics
technicians lead the laborers’ demand, followed by electrical and software
engineers. In 2018, the region witnessed a steep rise in outsourcing for MRO spending.
France-based
Airbus S.A.S.-one of the most prominent aircraft manufacturers-is developing
its Air+ program, which offers the opportunity to MRO providers of
collaborating with other players to seek the best services and to develop
customized MRO solutions. The company is also keen on setting MRO service
centers in Asia Pacific countries such as India within a partnership mode.
Since
February 2019, AFI KLM E&M have been deploying mobile climbing robots in
its line maintenance operations. The company is looking forward to integrate
climbing robots with Donecle drones for aircraft inspections, used since 2016.
Full Research Report On Aircraft MRO Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/aircraft-mro-market
Further key
findings from the report suggest:
- Aircraft and
engine manufacturers such as Rolls-Royce and Boeing are putting additional
focus on aircraft maintenance business and offering total care solutions
- The
opportunities for independent MRO providers are expected to remain buoyant
as airlines are expected to continue outsourcing maintenance work for them
to focus on their core business, although OEMs are gradually foraying into
the MRO space considering the profitability involved
- Electronic
systems are swiftly replacing the mechanical systems. Increasing
complexity of the electronic systems is expected to create demand for the
skilled workforce for aftermarket service and repair activities
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/aircraft-mro-market/request/rs1
Grand View Research has
segmented the global aircraft MRO market report on the basis of service type,
organization type, aircraft type, aircraft generation, and region:
Aircraft MRO
Service Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Engine Overhaul
- Airframe Maintenance
- Line Maintenance
- Modification
- Components
Aircraft MRO
Organization Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Airline/Operator MRO
- Independent MRO
- Original Equipment Manufacturer (OEM) MRO
Aircraft Type
Outlook (Revenue, USD Billion, 2015 - 2025)
- Narrow-Body
- Wide-Body
- Regional Jet
- Others
Aircraft
Generation Outlook (Revenue, USD Billion, 2015 - 2025)
- Old Generation
- Mid Generation
- New Generation
Aircraft MRO
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- MEA
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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