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Aircraft Maintenance, Repair and Overhaul (MRO) - Global Strategic Business Report

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    Report

  • 653 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 992792

Global Aircraft Maintenance, Repair and Overhaul (MRO) Market to Reach $66.2 Billion by 2030

The global market for Aircraft Maintenance, Repair and Overhaul (MRO) estimated at US$49.1 Billion in the year 2023, is projected to reach a revised size of US$66.2 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030. Engine Overhaul, one of the segments analyzed in the report, is projected to record 4.2% CAGR and reach US$28.2 Billion by the end of the analysis period. Growth in the Components Maintenance segment is estimated at 4.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $10.3 Billion, While China is Forecast to Grow at 5.8% CAGR

The Aircraft Maintenance, Repair and Overhaul (MRO) market in the U.S. is estimated at US$10.3 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$8.2 Billion by the year 2030 trailing a CAGR of 5.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 2.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 141 Featured)

  • Collins Aerospace
  • Boeing Company, The
  • Bell Helicopter Textron, Inc.
  • AAR Corporation
  • Bombardier, Inc.
  • AirNet II
  • Etihad Airways
  • Aviation Repair Technologies
  • Barfield, Inc.
  • Denel Aeronautics
  • Asia Pacific Aerospace (APA) Pty., Ltd.
  • Alpine Aerotech
  • ASA - Airline Software Applications ApS
  • CAMP Systems International Inc.
  • Committee for Aviation and Space Industry Development (CASID)

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Aircraft Maintenance, Repair and Overhaul (Aircraft MRO): A Definition
  • Types of MRO Maintenance Activities
  • Maintenance Schedules and Approval Systems
  • Military Aircraft MRO
  • Commercial Aircraft MRO
  • Aircraft MRO Norms and Regulations: An Overview
  • Aircraft MRO: Continuing Importance in Airworthiness Management to Propel Long-term Growth
  • Competition
  • Recent Market Activity
  • Aircraft Maintenance, Repair and Overhaul (MRO) - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • The Ever-Present Threat of Air Accidents Reinforces the Importance of MRO
  • Global Commercial Aircraft Accident Rate: Number of Accidents Per Million Departures for the Years 2010-2023
  • Despite the Strides Taken in Safe Flying, Ever-Present Threat of Plane Crashes Drives Emphasis on Airworthiness & Plane Maintenance: Global Number of Fatalities on Commercial Flights
  • Commercial Aviation Industry: The Barometer of Health of the MRO Market
  • Global Airline Industry: Number of Scheduled Passengers Boarded (in Million) for 2010-2023
  • Aging Aircraft Fleet Presents Opportunities for MRO Services
  • Aging Aircraft & the Ensuing Need to Ensure Airworthiness of Older Airplanes to Spur Opportunities in the MRO Services Market: Average Age (in Years) of Globally Operating Aircraft Fleet for 2020 & 2030
  • Average Age (in Years) of Select Airlines Around the World
  • Expanding Aircraft Fleet to Fuel Need for Routine MRO Services
  • Expanding Global Aircraft Fleet to Inject a Steady Stream of Routine Maintenance Revenues for MRO Service Providers: Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2039
  • Corrosion & Fatigue Wear and Tear: The Most Important Aspect of MRO
  • High Cost of Corrosion for the Transportation Industry Makes Corrosion Management Systems (CMS) an Integral Part of Aircraft MRO Programs: Percentage Breakdown of Cost of Corrosion by Industry
  • Smart Assets Management & Focus on Predictive and Condition Based Maintenance Bodes Well for Aircraft MRO Services
  • Aircraft Maintenance Decision System Based on Real-time Condition Monitoring Grows in Prominence: Global Aircraft Health Monitoring (AHMS) Market Size (US$ Billion) for the Years 2019, 2022 and 2025
  • Aircraft Big Data: A Key Enabler of Effective Condition Based Monitoring
  • Rising Prominence of Nondestructive Evaluation & Inspection of Aircraft
  • Use of Fillers in Aerospace Composites & Resultant High Risk of Moisture Infiltration Spurs Opportunities for Diagnostic NDT Testing for Crack & Corrosion Detection: Global Aerospace Composites Market (In US$ Billion) for the Years 2020, 2023 & 2026
  • Avionics MRO Emerges into a Key Revenue Spinner
  • Expanding Avionics Market Drives Parallel Opportunities for Avionics MRO in the Form of Avionics Upgrade: Global Avionics Market (In Million) for the Years 2019, 2022 & 2025
  • As Defense Budgets Come Under Intense Pressure, Military MRO Market to be Impacted
  • Defense Spending Trends Set Demand Dynamics for Military Electro Optics and Infrared Systems: Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2023
  • Leading Countries Ranked by Defense Budgets in US$ Billion for 2023
  • Global Military MRO Market Breakdown (in %) by Aircraft Platform: 2023
  • Low Cost Carriers (LCCs) Expand MRO Opportunity in Asia-Pacific
  • Low Cost Airlines Market Gives Rise to Need for Right Sized MRO Practices and Procedures: Global Low Cost Airlines Market (In US$ Billion) for the Years 2019, 2022 & 2025
  • Need to Reduce Operating Costs Drives Growth in MRO Outsourcing Services
  • Developing Countries Emerge as MRO Hubs
  • Narrowing Wage Differentials Threaten to Disrupt MRO Outsourcing
  • Growing Use of Composites in Airframes Drive MRO Providers to Offer Improved Tools and Techniques
  • Engine MRO Segment Drives Aircraft MRO Market
  • Cost Competitive PMA Certified Parts Grow in Importance in the MRO Market
  • Threat of PMA Forces OEMs to Reevaluate their Role in the MRO Market
  • Trend towards Digitization of MRO Operations
  • Latest Technological Trends Transforming the Aircraft MRO Market
  • Big Data to Transform Aviation Sector
  • Cloud Services Gain Traction in MRO Industry
  • Drones to Reduce Maintenance Time
  • Digital Twins: The New Standard of Maintenance in Aviation Industry
  • Aviation Maintenance: A Glance into Recent Technological Advancements
  • Shortage of Skilled Technicians: A Major Challenge for Labor Intensive MRO Industry
  • US Civil Aviation Employment by Sector for 2023
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Engine Overhaul by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Engine Overhaul by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Engine Overhaul by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Components Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Components Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Components Maintenance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Line Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Line Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Line Maintenance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Airframe Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Airframe Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for Airframe Maintenance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Modifications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Modifications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Modifications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Narrowbody by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Narrowbody by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Narrowbody by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Widebody by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Widebody by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Widebody by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Other Aircraft Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Other Aircraft Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Other Aircraft Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Old Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 26: World Historic Review for Old Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 27: World 16-Year Perspective for Old Generation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Mid Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 29: World Historic Review for Mid Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 30: World 16-Year Perspective for Mid Generation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 31: World Recent Past, Current & Future Analysis for New Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 32: World Historic Review for New Generation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 33: World 16-Year Perspective for New Generation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 34: World Aircraft Maintenance, Repair and Overhaul (MRO) Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 35: World Recent Past, Current & Future Analysis for Aircraft Maintenance, Repair and Overhaul (MRO) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 36: World Historic Review for Aircraft Maintenance, Repair and Overhaul (MRO) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 37: World 16-Year Perspective for Aircraft Maintenance, Repair and Overhaul (MRO) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • New Laws and Enforcement of Strict Safety Standards Drive Aircraft MRO Services Market
CANADA
JAPAN
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Aging Aircraft Offer Present Opportunities in the European Aircraft MRO Services Market
  • Eastern Europe Emerges as a Low Cost MRO Hub
FRANCE
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Market Overview
AUSTRALIA
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
  • Market Overview
  • India Poised to Become a Key Centre for Aircraft MRO
  • Indian Aviation MRO Services Market to Gain from Revised Tax Structure
SINGAPORE
  • Market Overview
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINA
BRAZIL
  • Market Overview
MEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
  • Market Overview
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Aircraft Maintenance, Repair and Overhaul (MRO) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Collins Aerospace
  • Boeing Company, The
  • Bell Helicopter Textron, Inc.
  • AAR Corporation
  • Bombardier, Inc.
  • AirNet II
  • Etihad Airways
  • Aviation Repair Technologies
  • Barfield, Inc.
  • Denel Aeronautics
  • Asia Pacific Aerospace (APA) Pty., Ltd.
  • Alpine Aerotech
  • ASA - Airline Software Applications ApS
  • CAMP Systems International Inc.
  • Committee for Aviation and Space Industry Development (CASID)

Table Information