Power by the Hour (PBH) Global Market Report 2024

The power by the hour (pbh) market size has grown strongly in recent years. It will grow from $23.53 billion in 2023 to $25.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed in the historical period can be credited to the acceptance of performance-based logistics contracts, the augmentation of aircraft fleet size and complexity, the development of civil aviation and commercial airlines, the advancement of predictive maintenance technologies, the increase in the outsourcing of maintenance services, and the adoption of engine condition monitoring systems.

The power by the hour (PBH) market is poised for robust growth in the coming years, reaching $33.23 billion by 2028 with a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be ascribed to advancements in aircraft engine reliability, a surge in air travel demand and flight frequency, the proliferation of regional and low-cost carriers embracing PBH, the emergence of leasing companies providing PBH options, the influence of electrification and hybrid propulsion systems in aviation, the customization and flexibility offered by PBH contract structures, and the rise of on-wing and on-site maintenance solutions in PBH. Key trends in the forecast period include the integration of data analytics and artificial intelligence in PBH programs, a rising demand for sustainable aviation practices, collaborations between OEMs and MRO providers in PBH offerings, the integration of blockchain for transparent and secure PBH transactions, and the development of PBH programs tailored for new-generation and composite materials in aviation.

The expansion of the low-cost airline industry is anticipated to drive the growth of the power-by-the-hour (PBH) market in the future. The low-cost airline industry, characterized by carriers offering minimal fares through cost-minimization strategies, utilizes PBH services to reduce operational costs, enhance reliability, increase uptime, and align incentives more effectively. For example, Eurocontrol, a Belgium-based government agency, reported that from January to September, the low-cost carrier industry grew from 31.9% in 2019 to 32.5% in 2022. Thus, the upswing in the low-cost airline industry is a significant factor propelling the growth of the power-by-the-hour (PBH) market.

The anticipated growth in air traffic is poised to drive the expansion of the power-by-the-hour (PBH) market. Air traffic, encompassing the movements of aircraft through airspace, relies on power-by-the-hour (PBH) to manage aircraft engine maintenance costs based on actual usage hours rather than fixed expenses, ensuring cost predictability and optimal operational efficiency. For example, a report from the Bureau of Transportation Statistics, a US-based government agency, revealed that in 2022, US airlines experienced a 30% year-on-year increase, transporting 194 million more passengers than in 2021. Throughout January to December 2022, US airlines served 853 million passengers, up from 658 million in 2021 and 388 million in 2020. Hence, the rising air traffic is a significant driver of the power-by-the-hour (PBH) market.

A prominent trend gaining traction in the power-by-the-hour (PBH) market is the adoption of performance-based contracts. Key companies in the market are actively pursuing new performance-based contracts to maintain their market position. For instance, in February 2022, C&L Aviation Group, an Australia-based aviation and aftermarket-support services provider, entered into a multi-year contract with Legend Airways LLC, a US-based air carrier, to provide power-by-the-hour services. This commitment involves the supply of rotables, engine line-replaceable units (LRUs), and expendables. Another example is from June 2021 when AJ Walter Aviation Ltd., a UK-based company offering exchange, repair, and lease services for commercial aircraft spare parts, signed a PBH agreement with TUS Airways, a Cyprus-based airline operating in Cyprus and Israel. This contract entails AJW Group providing high levels of operational reliability for the TUS Airways fleet.

Major companies in the power-by-the-hour (PBH) industry are adopting a strategic partnership approach to deliver comprehensive and cost-effective maintenance solutions for clients' equipment and assets. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. An example is the October 2021 partnership between AAR, a Finland-based aerospace and defense aftermarket solutions company, and FlyDubai, a UAE-based airline company. Through this collaboration, they aim to finalize an agreement with FlyDubai for the renewal of its power-by-the-hour (PBH) component pool and provision of repair support for the airline's Next-Generation (NG) Boeing 737 fleet.

In February 2023, StandardAero, a US-based company specializing in maintenance, repair, and overhaul services, completed the acquisition of Western Jet Aviation for an undisclosed sum. This strategic acquisition is intended to enable StandardAero to broaden its facility footprint, expand its customer base, and reach a wider demographic. Additionally, the incorporation of Western Jet Aviation's MRO capabilities is expected to enhance StandardAero's repair portfolio, contributing to its ongoing growth. Western Jet Aviation is a US-based jet maintenance company known for providing power-by-the-hour (PBH) services.

Major companies operating in the power by the hour (pbh) market report are GE Aerospace, Rolls-Royce Holdings plc, Pratt & Whitney Services Inc, Textron Inc., Honeywell Aerospace, Bombardier Aerospace Corp, Lufthansa Technik AG, MTU Aero Engines AG, Elbit Systems Ltd., Hong Kong Aircraft Engineering Company Ltd., Embraer Aircraft Maintenance Services Inc., Air France Industries KLM Engineering & Maintenance, Delta TechOps Services Group (DTSG), ST Engineering Aerospace Ltd., AAR Corp., Turkish Technic Inc., SR Technics Group, Sabena Technics SAS, SIA Engineering Company Limited, Jet Support Services Inc., Magnetic MRO, Avtrade Ltd, C&L Aviation Group, A J Walter Aviation Limited, Aircraft Maintenance and Engineering Corporation Limited, Eftec Aero Limited, Optima Aero Inc., Exodus Aviation, TAP Maintenance & Engineering, Mexicana MRO Services.

North America was the largest region in the power by the hour (PBH) market in 2023. The regions covered in the power by the hour (pbh) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power by the hour (pbh) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary elements of Power by the Hour (PBH) include engines, landing gear and brakes, spare parts and components, airframes, and other miscellaneous aspects. Within the PBH framework, engine maintenance is structured as a subscription-based program, offering aircraft operators a reliable and cost-efficient approach to managing their engine maintenance needs. These services are typically provided by the original equipment manufacturer (OEM) and maintenance, repair, and operations (MRO) for both line maintenance and heavy maintenance applications. Power by the Hour is applicable across various platforms, including commercial aviation, business jets, and commercial helicopters.

The power by the hour research report is one of a series of new reports that provides power by the hour market statistics, including the power by the hour industry's global market size, regional shares, competitors with power by the hour market share, detailed power by the hour market segments, market trends and opportunities, and any further data you may need to thrive in the power by the hour industry. This power by the hour market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The power by the hour (PBH) market includes revenues earned by the entities by providing services such as engine event management, contractual purchasing, logistics and transport services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.