Aircraft Engine MRO Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Aircraft Engine MRO Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Aircraft Engine MRO Market

The aircraft engine MRO market size was valued at USD 37.56 billion in 2023, and the market is now projected to grow from USD 42.81 billion in 2024 to USD 59.01 billion by 2032, exhibiting a CAGR of 4.69% during the forecast period of 2024-2032.

Pandemic halted airport and aviation operations, inflicting a decline in aircraft renovation, repair, and overhaul demand. This was exacerbated by means of stagnant aerospace operations and human aid issues. IATA reported over a million process losses inside the aviation and MRO enterprise. However, as COVID-19 cases reduced, operations resumed, main to wonderful growth over the forecast period.

Additive manufacturing, also referred to as 3D printing, is a critical technology within the aviation industry for production various parts. With over five million components in a plane, 3D printing offers an approach to simplify elements and decrease the size of panels, overhead bins, and seat components. Technologies like SLS, DMSL/SLM, and binder jetting are suitable for low-extent production at affordable unit costs, making 3D printing a huge market for aftermarket components.

Predictive analytics is a market trend that collects and analyzes records from a couple of resources to prevent potential failures, lessen downtime, and optimize overall performance. It allows become aware of issues early, plan renovation based totally on actual wishes, and tailor solutions to specific engines and situations, enhancing protection, reliability, and consumer satisfaction.

Comprehensive Analysis of Aircraft Engine MRO Market

The market for aircraft engine MRO is divided into commercial and civil aircraft, military aircraft, and components. The commercial and civil aircraft segment is expected to grow at the highest CAGR due to major global aircraft MRO OEMs and growing aircraft deliveries. The military aircraft segment is expected to grow at a significant CAGR due to growth in government spending and increased cross-border tensions. The market is classified into compressor, combustor, nozzle, fan blades, sensors, actuators, and others. The actuators segment accounted for the largest market share in 2022, driven by technological advancements and integration of actuators in new-generation aircraft. The sensors segment also accounted for the largest market share, driven by growing adoption and technological advancements. The engine type segment is divided into piston and turbo engines, with the turbo engine segment gaining the largest market share due to increased deliveries and initiatives for advanced mechatronics.

The Asia Pacific region lead the aircraft engine MRO market share by benefitting a market size of USD 12.36 billion in 2023 due to Due to pinnacle MROs and a developing aviation industry. The area's rapid growth, availability of cheaper skilled exertions, and airport infrastructure are anticipated to enhance aircraft engine MRO market growth. Major conglomerates and neighborhood players from round the sector also are expected to make investments within the location.

The marketplace analysis exhibits a competitive panorama with international and regional players running inside the aircraft engine MRO provider industry. Key players encompass Lufthansa Technik and Rolls Royce percent, with Lockheed Martin Corporation leading because of its international presence. Other prominent gamers consist of Safran Group and GE Aerospace. These players interact in new carrier launches, partnerships, and acquisitions to hold their marketplace positions.

SriLankan Airlines, a Sri Lankan major airline, has signed a five-year contract with global MRO service provider MTU Maintenance for the maintenance of LEAP-I A engines.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 4.69% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Platform

Commercial and Civil Aircraft

Narrow Body

Wide Body

Regional Aircraft

Business Jet

Trainers and Turboprops

Commercial Helicopters

Military Aircraft

Multirole and Combat

Military Transport Aircraft

Military Trainers

Military Helicopters

By Component

Compressor

Combustor

Nozzle

Fan Blades

Sensors

Actuators

Others

By Engine Type

Piston Engine

Turbo Engine

Turbo Shaft

Turbo Prop

Turbo Fan

Turbo Jet

By Country

North America (By Platform, Component, Engine Type, and Country)

U.S. (By Platform)

Canada (By Platform)

Europe (By Platform, Component, Engine Type, and Country)

U.K. (By Platform)

Germany (By Platform)

France (By Platform)

Italy (By Platform)

Spain (By Platform)

Rest of Europe (By Platform)

Asia Pacific (By Platform, Component, Engine Type, and Country)

China (By Platform)

India (By Platform)

Japan (By Platform)

Singapore (By Platform)

Rest of Asia Pacific (By Platform)

Rest of the World (By Platform, Component, Engine Type, and Country)

Latin America (By Platform)

Middle East & Africa (By Platform)


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