Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2022, By Type, Aircraft Division, Size, Service Type

Executive Summary

Major companies in the aircraft maintenance, repair, and overhauling services market include General Electric Company, The Boeing Company, Rolls-Royce Holdings plc, Honeywell International Inc., Lufthansa Group, Safran SA, MTU Aero Engines AG, General Dynamics, BBA Aviation plc. and Bombardier Inc.

The global aircraft maintenance, repair and overhauling services market is expected to grow from $54.50 billion in 2021 to $59.93 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $99.98 billion in 2026 at a CAGR of 13.7%.

The aircraft maintenance, repair and overhauling services market consists of sales of aircraft maintenance, repair and overhauling (MRO) services and related goods by entities (organizations, sole traders or partnerships) that maintain, repair and overhaul commercial aircraft including helicopters, gliders, drones, aircraft turbines, aircraft engines, and rocket engines. The market numbers in this report include sales of spare parts to end consumers by aircraft MRO providers that are used during the aircraft MRO activities.

The main types of aircraft maintenance, repair, and overhaul services are commercial aircrafts MRO services, commercial helicopters MRO services, commercial gliders and drones MRO services, aircraft turbines MRO services, aircraft engines MRO services, and rocket engines MRO services. Rocket engines MRO services include maintenance, repair, and overhaul services for rocket engines. The aircraft is divided into the engine, cabin interior, airframe, avionics, others, and the various sizes include wide-body, narrow-body, regional, others. The services are used for an annual maintenance contract, individual works, and others.

Asia Pacific was the largest region in the aircraft maintenance, repair and overhauling services market in 2021. Eastern Europe is expected to be the fastest growing region. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) are expected to drive innovation in the defense market, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. Lower operating costs lead to higher margins, this allows companies to expand production and increase product portfolio, thus driving the growth of the aircraft maintenance, repair, and overhauling services market.

Rising cyber-attacks on the confidential data transferred through sensitive paths in the value chain of the aerospace industry are expected to be a restraint on the aircraft maintenance, repair, and overhauling services market in the forecast period. Companies involved in the value chain of aircraft maintenance, repair, and overhauling services exchange a lot of confidential data on specifications, technology, and performance of equipment or services to enhance collaborations on design, development, and support. The data exchanged within the supply chain can be stolen and used by unethical competitors to copy products and reduce market prices of the products. To eliminate the threat, companies in the aerospace industry invest in next-generation cyber security solutions to protect their data from advanced cyber-attacks. For example, leading players such as Lockheed Martin are investing in developing cyber security solutions with offensive and defensive capabilities. Cyber-attacks by governments of enemy countries or competitors are expected to hinder the growth of the aircraft maintenance, repair, and overhauling services market

Digital thread and digital twin are two interlinked concepts trending in the aircraft parts manufacturing, repair & maintenance market. The digital thread is a communication framework that allows connected data flow throughout the lifecycle and across functions such as design, engineering, production, and maintenance providing an integrated, authoritative, up-to-the-minute view of the asset's data that can be accessed at any time, anywhere. Digital twin includes design specifications and engineering models describing its geometry, materials, parts, and behavior which give a digital model of a particular product. Both concepts analyze data captured digitally from end-to-end throughout a product's lifecycle beginning with design and extending through maintenance, repair, and overhaul to improve the performance of future programs. In aircraft maintenance complexity, this helps in maintaining digital records, minimizing downtime, and streamlining regulatory compliance.

The countries covered in the aircraft maintenance, repair, and overhauling services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

Companies Mentioned

A selection of companies mentioned in this report includes:

• General Electric Company
• The Boeing Company
• Rolls-Royce Holdings plc.
• Honeywell International Inc.
• Lufthansa Group
• Safran SA
• MTU Aero Engines AG
• General Dynamics
• BBA Aviation plc.
• Bombardier Inc.

Methodology