The global Aircraft MRO Market, Repair, and Overhaul (MRO) had a size of USD 73.84 billion in 2022. It is projected to reach USD 105.33 billion by 2032, with a compound annual growth rate (CAGR) of 4% during the forecast period. The growth in market revenue for MRO services is primarily driven by the increasing number of aging aircraft worldwide. These aircraft require frequent maintenance and repair services, leading to a higher demand in the market.
Furthermore, the strict regulations governing aircraft maintenance and repair have contributed to the growing need for MRO services. The Federal Aviation Administration (FAA) in the United States and the European Aviation Safety Agency (EASA) in Europe have implemented stringent regulations in this regard. These regulations play a significant role in propelling the market revenue growth.
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Also, the rising demand for air travel has increased aircraft manufacturing, raising the demand for MRO services. The demand for MRO services is driven mainly by airlines' need to maintain their fleets and guarantee passenger safety, which is why the commercial aircraft segment leads the industry.
Moreover, the development of the MRO services market is being fueled by the adoption of cutting-edge technologies like predictive maintenance, artificial intelligence, and big data analytics. Using these technologies can decrease aircraft downtime and increase the overall effectiveness of MRO services.
Moreover, the need for MRO services is rising across various end-use industries, including the defense, civil, and commercial sectors, fueling market revenue growth. The market is expected to increase due to the rising defense budgets of different nations and the rising need for military aircraft MRO services.
Competitive Landscape:
- Lufthansa Technik AG
- ST Engineering Aerospace
- AAR Corporation
- Boeing Global Services
- General Electric Company
- Honeywell International Inc.
- Rolls-Royce plc
- Air France-KLM Engineering Maintenance
- SIA Engineering Company Limited
- Delta TechOps
- United Technologies Corporation
The global market is further segmented into type and application:
By Service Type Outlook
- Engine Overhaul
- Airframe Maintenance
- Component Repair Maintenance
- Line Maintenance
- Modifications
By End-User Outlook
- Commercial
- Military
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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