The Asia Pacific airframe MRO market was valued at US$ 7.08 billion in 2022 and is expected to reach US$ 10.75 billion by 2030; it is estimated to register at a CAGR of 5.4% from 2022 to 2030.
Also, the MRO service providers incorporate AI technologies to boost their procedures by easily and efficiently conducting visual checks and understanding the degree of maintenance and repairs required on the aircraft. Thus, the increasing integration of digital technologies such as AI and machine learning drives the Asia Pacific airframe MRO market.
This resulted in robust sales gains in fast-developing economies of Asia Pacific, such as India and China. The region is expected to create ample opportunities for providers of airframe MRO services. APAC has several growing economies, which are leading the growth of a variety of sectors, including aerospace, military & defense, and technology. Many emerging economies in APAC are attracting investment from the regulatory bodies to enhance technologies.
Numerous global players are expanding their MRO facilities across APAC. For instance, in July 2022, Safran AB (one of the leading suppliers of key aircraft components, including landing gear, wheels and brakes, and wiring) announced an investment of US$ 305 million in India to expand their MRO activities in the region. The company is also planning to invest US$ 204.15 million in one of the largest MRO facilities in the world in Hyderabad. Such investments of global players will boost the growth of the airframe MRO market during the forecast period.
Based on aircraft type, the Asia Pacific airframe MRO market is bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment held a larger share in 2022.
In terms of component, the Asia Pacific airframe MRO market is segmented into fuselage, wings and rotors, landing gear, and others. The fuselage segment held the largest share in 2022.
Based on country, the Asia Pacific airframe MRO market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific airframe MRO market in 2022.
AAR CORP, Barnes Group Inc, GE Aviation, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Lufthansa Technik, Delta TechOps, Rolls-Royce Holdings Plc, and Collins Aerospace are some of the leading companies operating in the Asia Pacific airframe MRO market.
Growing Integration of Digital Technology in MRO Industry Boosts Asia Pacific Airframe MRO Market
The implementation of digital technologies is a necessary step toward the growth of MRO companies; this helps them create continuous data flow through various levels of the supply chain, further streamlining the communication between the stakeholders and accelerating innovation in various operations. The digital revolution in the aviation industry significantly impacts all areas of the supply chain of the aviation industry, including aircraft operations, air traffic management, and aircraft and component manufacturing and servicing. Data-driven technologies such as data analytics, which help in tracking airframe MRO activities in real-time, also optimize the air travel experience of crew and passengers. AI, machine learning, and other advanced technologies facilitate the airline crew and management to understand the airworthiness of the aircraft.Also, the MRO service providers incorporate AI technologies to boost their procedures by easily and efficiently conducting visual checks and understanding the degree of maintenance and repairs required on the aircraft. Thus, the increasing integration of digital technologies such as AI and machine learning drives the Asia Pacific airframe MRO market.
Asia Pacific Airframe MRO Market Overview
Asia Pacific is a diverse region that houses more than 4 billion people and also comprises dynamic economies that cumulatively generate 35% of the global GDP. The aviation industry in the region is a pivotal contributor to its social and economic development. The growth of Asia Pacific aviation industry has been primarily attributed to the wide range of income levels and the rapidly growing middle-class population.This resulted in robust sales gains in fast-developing economies of Asia Pacific, such as India and China. The region is expected to create ample opportunities for providers of airframe MRO services. APAC has several growing economies, which are leading the growth of a variety of sectors, including aerospace, military & defense, and technology. Many emerging economies in APAC are attracting investment from the regulatory bodies to enhance technologies.
Numerous global players are expanding their MRO facilities across APAC. For instance, in July 2022, Safran AB (one of the leading suppliers of key aircraft components, including landing gear, wheels and brakes, and wiring) announced an investment of US$ 305 million in India to expand their MRO activities in the region. The company is also planning to invest US$ 204.15 million in one of the largest MRO facilities in the world in Hyderabad. Such investments of global players will boost the growth of the airframe MRO market during the forecast period.
Asia Pacific Airframe MRO Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Airframe MRO Market Segmentation
The Asia Pacific airframe MRO market is segmented based on aircraft type, component, and country.Based on aircraft type, the Asia Pacific airframe MRO market is bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment held a larger share in 2022.
In terms of component, the Asia Pacific airframe MRO market is segmented into fuselage, wings and rotors, landing gear, and others. The fuselage segment held the largest share in 2022.
Based on country, the Asia Pacific airframe MRO market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific airframe MRO market in 2022.
AAR CORP, Barnes Group Inc, GE Aviation, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Lufthansa Technik, Delta TechOps, Rolls-Royce Holdings Plc, and Collins Aerospace are some of the leading companies operating in the Asia Pacific airframe MRO market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific airframe MRO market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific airframe MRO market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Asia Pacific Airframe MRO Market Landscape
5. Asia Pacific Airframe MRO Market - Key Industry Dynamics
6. Airframe MRO Market - Asia Pacific Market Analysis
7. Asia Pacific Airframe MRO Market Analysis - Aircraft Type
8. Asia Pacific Airframe MRO Market Analysis - Component
9. Asia Pacific Airframe MRO Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AAR CORP
- Barnes Group Inc
- GE Aviation
- Turkish Technic Inc.
- Singapore Technologies Engineering Ltd
- Lufthansa Technik
- Delta TechOps
- Rolls-Royce Holdings Plc
- Collins Aerospace
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 83 |
Published | June 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 7085.01 Million |
Forecasted Market Value ( USD | $ 10759.9 Million |
Compound Annual Growth Rate | 5.4% |
Regions Covered | Asia Pacific |