Aircraft Component MRO Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Aircraft Component MRO Market
The aircraft component MRO market size was valued at USD 18.13 billion in 2023, and the market is now projected to grow from USD 19.20 billion in 2024 to USD 36.93 billion by 2032, exhibiting a CAGR of 8.52% during the forecast period of 2023-2032.
The pandemic harmed the aircraft component MRO market growth as activities were suspended. The MRO staffs were told to keep off the facility to counter the spread of the disease.
The market is experiencing growth propelled by the adoption of emerging technology and non-destructive testing methods. Major service providers worldwide are increasingly turning to advanced testing techniques. Non-destructive testing, renowned for its ability to identify flaws in aerospace materials without compromising their integrity, is anticipated to drive significant aircraft component MRO market share.
Additionally, the rise in predictive and preventive maintenance is driven by the increased availability of precise and effective MRO services. Predictive maintenance entails monitoring equipment and performance to minimize breakdown risks, while preventive maintenance involves scheduled maintenance to prevent unexpected failures. These strategies are increasingly prevalent in the MRO market, poised to enhance its growth trajectory through widespread acceptance.
Comprehensive Analysis of Aircraft Component MRO Market
The aircraft component MRO market and aerospace & defense sector are experiencing rapid growth, driven by market segmentation. This expansion involves thorough regional evaluations, analyzing the influential supply and demand dynamics in aerospace & defense benefit management. Segmentation is meticulously organized based on aircraft type, component, and maintenance services. The aircraft types includes, Commercial Aircraft (Narrow Body, Wide Body, and Regional Aircraft), Business Jet, General Aviation Aircraft, and Helicopters. The component includes, Engine, Wheel and Brakes, Landing Gear, Avionics, Fuel System, Hydraulic System, Cockpit System, Flight Control, Electrical Systems, Thrust Reverser, and Others. At last maintenance service includes, Inspection, Overhaul, Repairs, and Others.
North America's market valuation reached USD 5.53 billion in 2023, and is projected to lead the industry, propelled by premier service providers and a burgeoning aircraft component MRO market. The dominance of key players in the region is a key factor driving this growth.
Market leaders have a major impact on the aerospace & defense industry by supporting growth in industries and defining standards for the industry. Among these players are Lufthansa Technik (Germany), AAR Corp. (U.S.), SIA Engineering Company (Singapore), ST Aerospace (Singapore), ST Engineering (Singapore), BOEING Company (U.S.), SR Technics (Switzerland), GE Aviation (U.S.), HAECO (Hong Kong) and Bombardier Inc. (Canada).
In September 2023, ST Engineering made an agreement with Japan Airlines for the Boeing 737-800 of MBHTM systems. The contract includes pooling, modification, repair, predictive health monitoring, and logistics support for Japan Airlines.
Segmentation Table
GlobalAircraft Component MRO Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 8.52% from 2024 to 2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Aircraft Type, Component, Maintenance Service, and Region
By AircraftType Commercial Aircraft
- Narrow Body
- Wide Body
- Regional Aircraft
Business Jet
General Aviation Aircraft
Helicopters
By Component Engine
Wheel and Brakes
Landing Gear
Avionics
Fuel System
Hydraulic System
Cockpit Systems
Flight Control
Electrical Systems
Thrust Reverser
Others
By Maintenance Service Inspection
Overhaul
Repairs
Others
By Region North America (By Type, Component, Maintenance Service, and Country)
- U.S. (By Aircraft Type)
- Canada (By Aircraft Type)
Europe (By Type, Component, Maintenance Service, and Country)
- U.K. (By Aircraft Type)
- Germany (By Aircraft Type)
- France (By Aircraft Type)
- Italy (By Aircraft Type)
- Ireland (By Aircraft Type)
Asia Pacific (By Type, Component, Maintenance Service, and Country)
- China (By Aircraft Type)
- India (By Aircraft Type)
- Japan (By Aircraft Type)
- Singapore (By Aircraft Type)
- Australia (By Aircraft Type)
Middle East & Africa (By Type, Component, Maintenance Service, and Country)
- Saudi Arabia (By Aircraft Type)
- U.A.E. (By Aircraft Type)
- Qatar (By Aircraft Type)
- Turkey (By Aircraft Type)
Rest of the world (By Type, Component, Maintenance Service, and Country)
- Latin America (By Aircraft Type)
- Africa (By Aircraft Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Industry SWOT Analysis
- 4.3. Emerging Trends
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID-19
- 5. Global Consumer Electronics Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Product Type (Value)
- 5.2.1.1. Electronic Devices
- 5.2.1.1.1. Television
- 5.2.1.1.2. Computer
- 5.2.1.1.3. Digital Camera & Camcorder
- 5.2.1.1.4. Others
- 5.2.1.2. Home Appliances
- 5.2.1.2.1. Refrigerator
- 5.2.1.2.2. Washing Machine
- 5.2.1.2.3. Air Conditioner
- 5.2.1.2.4. Others
- 5.2.2. By Distribution Channel (Value)
- 5.2.2.1. Offline
- 5.2.2.2. Online
- 5.2.3. By Region (Value)
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Consumer Electronics Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Product Type (Value)
- 6.2.1.1. Electronic Devices
- 6.2.1.1.1. Television
- 6.2.1.1.2. Computer
- 6.2.1.1.3. Digital Camera & Camcorder
- 6.2.1.1.4. Others
- 6.2.1.2. Home Appliances
- 6.2.1.2.1. Refrigerator
- 6.2.1.2.2. Washing Machine
- 6.2.1.2.3. Air Conditioner
- 6.2.1.2.4. Others
- 6.2.2. By Distribution Channel (Value)
- 6.2.2.1. Offline
- 6.2.2.2. Online
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S.
- 6.2.3.1.1. By Product Type (Value)
- 6.2.3.1.1.1. Electronic Devices
- 6.2.3.1.1.2. Home Appliances
- 6.2.3.2. Canada
- 6.2.3.2.1. By Product Type (Value)
- 6.2.3.2.1.1. Electronic Devices
- 6.2.3.2.1.2. Home Appliances
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Product Type (Value)
- 6.2.3.3.1.1. Electronic Devices
- 6.2.3.3.1.2. Home Appliances
- 7. Europe Consumer Electronics Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Product Type (Value)
- 7.2.1.1. Electronic Devices
- 7.2.1.1.1. Television
- 7.2.1.1.2. Computer
- 7.2.1.1.3. Digital Camera & Camcorder
- 7.2.1.1.4. Others
- 7.2.1.2. Home Appliances
- 7.2.1.2.1. Refrigerator
- 7.2.1.2.2. Washing Machine
- 7.2.1.2.3. Air Conditioner
- 7.2.1.2.4. Others
- 7.2.2. By Distribution Channel (Value)
- 7.2.2.1. Offline
- 7.2.2.2. Online
- 7.2.3. By Country (Value)
- 7.2.3.1. Germany
- 7.2.3.1.1. By Product Type (Value)
- 7.2.3.1.1.1. Electronic Devices
- 7.2.3.1.1.2. Home Appliances
- 7.2.3.2. France
- 7.2.3.2.1.
- 7.2.3.2.1.1. By Product Type (Value)
- 7.2.3.2.1.1.1. Electronic Devices
- 7.2.3.2.1.1.2. Home Appliances
- 7.2.3.3. Italy
- 7.2.3.3.1. By Product Type (Value)
- 7.2.3.3.1.1. Electronic Devices
- 7.2.3.3.1.2. Home Appliances
- 7.2.3.4. Spain
- 7.2.3.4.1. By Product Type (Value)
- 7.2.3.4.1.1. Electronic Devices
- 7.2.3.4.1.2. Home Appliances
- 8.
- 8.1.
- 8.1.1.
- 8.1.1.1. U.K.
- 8.1.1.1.1. By Product Type (Value)
- 8.1.1.1.1.1. Electronic Devices
- 8.1.1.1.1.2. Home Appliances
- 8.1.1.2. Rest of Europe
- 8.1.1.2.1. By Product Type (Value)
- 8.1.1.2.1.1. Electronic Devices
- 8.1.1.2.1.2. Home Appliances
- 9. Asia-Pacific Consumer Electronics Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Product Type (Value)
- 9.2.1.1. Electronic Devices
- 9.2.1.1.1. Television
- 9.2.1.1.2. Computer
- 9.2.1.1.3. Digital Camera & Camcorder
- 9.2.1.1.4. Others
- 9.2.1.2. Home Appliances
- 9.2.1.2.1. Refrigerator
- 9.2.1.2.2. Washing Machine
- 9.2.1.2.3. Air Conditioner
- 9.2.1.2.4. Others
- 9.2.2. By Distribution Channel (Value)
- 9.2.2.1. Offline
- 9.2.2.2. Online
- 9.2.3. By Country (Value)
- 9.2.3.1. China
- 9.2.3.1.1. By Product Type (Value)
- 9.2.3.1.1.1. Electronic Devices
- 9.2.3.1.1.2. Home Appliances
- 9.2.3.2. India
- 9.2.3.2.1. By Product Type (Value)
- 9.2.3.2.1.1. Electronic Devices
- 9.2.3.2.1.2. Home Appliances
- 9.2.3.3. Japan
- 9.2.3.3.1. By Product Type (Value)
- 9.2.3.3.1.1. Electronic Devices
- 9.2.3.3.1.2. Home Appliances
- 9.2.3.4. Australia
- 9.2.3.4.1. By Product Type (Value)
- 9.2.3.4.1.1. Electronic Devices
- 9.2.3.4.1.2. Home Appliances
- 9.2.3.5. Rest of Asia-Pacific
- 9.2.3.5.1. By Product Type (Value)
- 9.2.3.5.1.1. Electronic Devices
- 9.2.3.5.1.2. Home Appliances
- 10. South America Consumer Electronics Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Product Type (Value)
- 10.2.1.1. Electronic Devices
- 10.2.1.1.1. Television
- 10.2.1.1.2. Computer
- 10.2.1.1.3. Digital Camera & Camcorder
- 10.2.1.1.4. Others
- 10.2.1.2. Home Appliances
- 10.2.1.2.1. Refrigerator
- 10.2.1.2.2. Washing Machine
- 10.2.1.2.3. Air Conditioner
- 10.2.1.2.4. Others
- 10.2.2. By Distribution Channel (Value)
- 10.2.2.1. Offline
- 10.2.2.2. Online
- 10.2.3. By Country (Value)
- 10.2.3.1. Brazil
- 10.2.3.1.1. By Product Type (Value)
- 10.2.3.1.1.1. Electronic Devices
- 10.2.3.1.1.2. Home Appliances
- 10.2.3.2. Argentina
- 10.2.3.2.1. By Product Type (Value)
- 10.2.3.2.1.1. Electronic Devices
- 10.2.3.2.1.2. Home Appliances
- 10.2.3.3. Rest of South America
- 10.2.3.3.1. By Product Type (Value)
- 10.2.3.3.1.1. Electronic Devices
- 10.2.3.3.1.2. Home Appliances
- 11. The Middle East & Africa Consumer Electronics Market Analysis, Insights and Forecast, 2019-2032
- 11.1. Key Findings / Summary
- 11.2. Market Size Estimates and Forecast
- 11.2.1. By Product Type (Value)
- 11.2.1.1. Electronic Devices
- 11.2.1.1.1. Television
- 11.2.1.1.2. Computer
- 11.2.1.1.3. Digital Camera & Camcorder
- 11.2.1.1.4. Others
- 11.2.1.2. Home Appliances
- 11.2.1.2.1. Refrigerator
- 11.2.1.2.2. Washing Machine
- 11.2.1.2.3. Air Conditioner
- 11.2.1.2.4. Others
- 11.2.2. By Distribution Channel (Value)
- 11.2.2.1. Offline
- 11.2.2.2. Online
- 11.2.3. By Country (Value)
- 11.2.3.1. UAE
- 11.2.3.1.1. By Product Type (Value)
- 11.2.3.1.1.1. Electronic Devices
- 11.2.3.1.1.2. Home Appliances
- 11.2.3.2. Saudi Africa
- 11.2.3.2.1. By Product Type (Value)
- 11.2.3.2.1.1. Electronic Devices
- 11.2.3.2.1.2. Home Appliances
- 11.2.3.3. Rest of Middle East & Africa
- 11.2.3.3.1. By Product Type (Value)
- 11.2.3.3.1.1. Electronic Devices
- 11.2.3.3.1.2. Home Appliances
- 12. Competitive Matrix
- 12.1. Business Strategies Adopted by Leading Players
- 12.2. Global Consumer Electronics Market Revenue Share/Ranking Analysis, By Key Manufacturers, 2023
- 13. Company Profiles
- 13.1. Samsung Group
- 13.1.1. Overview
- 13.1.2. Description
- 13.1.3. Product Portfolio
- 13.1.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.1.5. Recent Developments
- 13.2. LG Electronics Inc.
- 13.2.1. Overview
- 13.2.2. Description
- 13.2.3. Product Portfolio
- 13.2.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.2.5. Recent Developments
- 13.3. Sony Corp.
- 13.3.1. Overview
- 13.3.2. Description
- 13.3.3. Product Portfolio
- 13.3.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.3.5. Recent Developments
- 13.4. Panasonic
- 13.4.1. Overview
- 13.4.2. Description
- 13.4.3. Product Portfolio
- 13.4.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.4.5. Recent Developments
- 13.5. Koninklijke Philips N.V.
- 13.5.1. Overview
- 13.5.2. Description
- 13.5.3. Product Portfolio
- 13.5.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.5.5. Recent Developments
- 13.6. Whirlpool Corp.
- 13.6.1. Overview
- 13.6.2. Description
- 13.6.3. Product Portfolio
- 13.6.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.6.5. Recent Developments
- 13.7. AB Electrolux
- 13.7.1. Overview
- 13.7.2. Description
- 13.7.3. Product Portfolio
- 13.7.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.7.5. Recent Developments
- 13.8. Apple Inc.
- 13.8.1. Overview
- 13.8.2. Description
- 13.8.3. Product Portfolio
- 13.8.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.8.5. Recent Developments
- 13.9. HP Inc.
- 13.9.1. Overview
- 13.9.2. Description
- 13.9.3. Product Portfolio
- 13.9.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.9.5. Recent Developments
- 13.10. Huawei Technologies Co., Ltd.
- 13.10.1. Overview
- 13.10.2. Description
- 13.10.3. Product Portfolio
- 13.10.4. Financials (Data as available in the public domain and/or on paid databases)
- 13.10.5. Recent Developments
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