Aircraft MRO Market Forecasts to 2028 – Global Analysis By Service Types (Engine Overhaul, Airframe Maintenance, Avionics Maintenance and Other Service Types), Organization Type (Airline/Operator MRO, Independent MRO and Original Equipment Manufacturer (OEM) MRO), Aircraft Type (Narrow-Body, Wide-Body, Regional Jet and Other Aircraft Types), Aircraft Generation (Old Generation, Mid Generation and New Generation), End User and By Geography
According to Stratistics MRC, the Global Aircraft MRO Market is accounted for $75.51 billion in 2022 and is expected to reach $110.81 billion by 2028 growing at a CAGR of 6.6% during the forecast period. The maintenance, repair, and overhaul of aircraft is a broad category of operations that is included in the global aircraft MRO market. Everything from regular inspections to significant structural repairs and engine overhauls are included in this. The sector is crucial to maintaining aircraft safety and airworthiness, and it is also essential to the overall aviation ecosystem. The need for more airplanes is being driven by the rise in air travel, which also increases the need for maintenance and repair services.
According to the most recent estimates by the International Civil Aviation Organization (ICAO) (Canada), the demand for air transport will increase by an average of 4.3% per annum over the next 20 years.
Market DynamicsDriverIncreasing number of air travel passengers
The demand for MRO facilities is likely to increase as more air passenger carriers emerge in response to an increase in the number of people choosing to fly. Airlines are contracting out maintenance work in order to keep their aircraft in good working order as a result of the aviation industry's relaxation of restrictions on foreign direct investment. The number of people who travel by air annually will rise as a result of more frequent flights, more affordable tickets, and more accessible routes, which will cause the aircraft market to expand quickly. These elements are predicted to boost demand for MRO services, which will support the growth of the sector.
RestraintLack of labour and ageing workforce
The aircraft MRO industry is hindered due to a lack of labor, rising labor costs, an aging workforce, and declining interest among newly graduated engineers in the position of maintenance technician. In the absence of a major event, this pattern is anticipated to continue during the projected period. Such factors are hindering the growth of the market.
OpportunityRising investments
The market is anticipated to experience new growth opportunities as a result of increasing investments in aviation MRO software. Software components for logbook tracking, budget forecasting, manuals, flying time tracking, electronic task card management, service bulletin management, and work order administration are all included in aircraft MRO software, which provides lucrative opportunities for the market to grow.
ThreatWorkplace hazards
Various risks may arise at the workplace for aircraft mechanics. As part of their duties, they frequently have to lift heavy items like aircraft parts and use powerful equipment. They might be required to work in noisy, vibrating environments, especially when testing engines. Aircraft mechanics sometimes work outside in inclement weather, such as pouring rain, when they are performing emergency repairs. As a result of these workplace dangers, aircraft mechanics take numerous safety measures, such as wearing ear protection, to safeguard themselves and reduce risks. Such dangerous hazards at the workplace are limiting the market's expansion.
Covid-19 ImpactThe COVID-19 pandemic has slowed almost every country's economic expansion. This economic downturn has had a significant impact on the airline industry. All the major nations in Europe, Asia, and North America have put severe restrictions on business operations and the movement of people and goods due to the ongoing COVID-19 outbreak. All of these elements are limiting the availability and demand for aircraft maintenance services, which is impeding the expansion of the global aircraft MRO market's revenue.
The engine overhaul segment is expected to be the largest during the forecast period
During the forecast period, the engine overhaul segment is anticipated to hold the largest market share. Throughout their lifetime, aircraft engines need to undergo meticulous maintenance, repair, and overhaul. As a result of vibrations brought on by rotating parts, they are extremely susceptible to wear. Additionally, the engine is subjected to physical and material stresses as a result of continuous exposure to various climates. The increasing demand for assurance that an aircraft operates within the applicable serviceable tolerances established by its manufacturer for continued airworthiness is anticipated to fuel the segment's expansion.
The new generation segment is expected to have the highest CAGR during the forecast period
The new generation segment will experience a strong rebound and robust growth during the prediction period, driven by sustainable fuel and being more fuel-efficient. Many currently operating commercial aircraft will be replaced by newer models, according to an Airbus report. For aircraft maintenance and the creation of services for new-generation aircraft, major market players are collaborating with OEMs. This will lay the foundation for the maintenance, repair, and overhaul (MRO) of new-generation aircraft, which the aviation fleet is expected to adopt at an accelerated rate.
Region with largest shareDue to the use of cutting-edge technologies to achieve sustainable goals, the North American aircraft MRO market will hold a significant share of the market during the forecast period. The largest fleet of aircraft is in North America, which creates a sizable demand for aircraft MROs. Due to regulation, compliance with strict laws, and high safety standards, market entrants from this region face extremely high barriers. However, the market is appealing due to how easily advanced technologies can be deployed by MROs.
Region with highest CAGRDuring the forecast period, the Asia-Pacific region is expected to experience lucrative growth. This is due to an increase in air travel throughout the Asia-Pacific region and a rise in middle-class travelers, particularly in APAC nations like Singapore, China, and India. The demand for aviation MRO in this region is anticipated to rise as a result of the region's rapid urbanization, rising economic growth in emerging nations, and increased business and tourism, which are boosting the market's expansion.
Key players in the marketSome of the key players profiled in the Aircraft MRO Market include AAR Corp., Aeroman, Air France KLM Engineering & Maintenance, AIRBUS SAS, Ameco Beijing, AMETEK, MRO, Aviation Technical Services, Inc., Bedek Aviation Group, Bombardier, Inc., British Airways Engineering, Delta TechOps, GE Aviation, GMF AeroAsia, Haeco, Honeywell International Inc., Hong Kong Aircraft Engineering Company, Iberia Maintenance, JAL Engineering, Korean Air, L3Harris Technologies, Lufthansa Technik AG, MTU Aero Engines AG, Rolls-Royce Holding plc, Sabena Technics, SIA Engineering, Singapore Technologies Aerospace, STAECO, TAP Maintenance & Engineering, The Boeing Company and United Technologies Corporation.
Key DevelopmentsIn June 2023, Lufthansa has said that its acquisition of a minority stake in Italian flag carrier ITA will present “attractive opportunities” for Lufthansa Technik. Management added that Lufthansa Technik would be ITA’s preferred vendor for its full portfolio of MRO services.
In April 2023, Air India is mulling a joint venture with Lufthansa Technik and Air France-KLM's engineering arm to bid for state-owned Air India Engineering Services Limited (AIESL), according to a report by India's Economic Times.
Service Types Covered
• Engine Overhaul
• Airframe Maintenance
• Avionics Maintenance
• Cabin Maintenance
• Landing gear Maintenance
• Line Maintenance
• Modification
• Components
• Other Service Types
Organization Types Covered
• Airline/Operator MRO
• Independent MRO
• Original Equipment Manufacturer (OEM) MRO
Aircraft Types Covered
• Narrow-Body
• Wide-Body
• Regional Jet
• Other Aircraft Types
Aircraft Generations Covered
• Old Generation
• Mid Generation
• New Generation
End Users Covered
• Commercial
• Military
Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (
Drivers, Constraints, Opportunities,
Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements