According to the latest report from the IMARC group, entitled “Aircraft Components MRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″ the global MRO market for aircraft components reached a value of US$18.3 billion in 2021. Looking ahead, IMARC Group expects the market reach US$24.5 billion by 2027 growing at a CAGR of 4.9% during the period 2022-2027. Aircraft component MRO is a set of maintenance, repair and overhaul activities for auxiliary power units (APUs), avionics, landing gear and mechanical actuators. They help restore aircraft components to their original performance condition. They also help provide a set of administrative and supervisory activities to improve the operation and life of the aircraft.
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Global Aircraft Components MRO Market Trends:
The global market is mainly driven by the growing demand for products from the commercial aerospace industry. Additionally, the growing demand for commercial aviation MRO services in emerging economies is positively influencing the market growth. Apart from this, the widespread adoption of innovative software technologies for maintenance scheduling is further catalyzing the growth of the market across the globe. Additionally, the increasing number of air passengers and the gradual decline in air fares are driving the growth of the market. Additionally, the focus on extending MRO services to military aircraft companies is also creating a positive outlook for the market.
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2022-2027 Global MRO Aircraft Components Market Analysis and Segmentation:
Competitive landscape with key players:
- Delta TechOps
- Lufthansa Technik AG
- Air France Industries KLM Engineering & Maintenance
- Hong Kong Aeronautical Engineering Company Limited
- Honeywell International Inc.
- ST Engineering AAR Corp.
- Barnes Aerospace, Inc. (Barnes Group)
- FL Technics (Avia Solutions Group)
- Turkish Technic Inc. (Turkish Airlines)
Breakdown by aircraft type:
- Narrow body
- wide body
- Regional jets/turboprops
Breakdown by component:
- Fuselage
- empennage
- Landing gear
- wings
- Engine
- Others
Breakdown by application:
- Commercial air transport
- Business and general aviation
- military aviation
Breakdown by region:
- North America (USA, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
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