Aircraft MRO (maintenance, repair, & overhaul) services resolve issues pertaining to navigational instruments, multiple parts, and engine components that constitute an aircraft. The services offered by the aircraft MRO market include the supply & modification of sealants, coatings, accessories, etc.; repair of defective parts; and overall inspection of the aircraft. Airline carriers make use of aircraft MRO to ensure customer-flow and airline-safety.
MRO services maintain the youngness of their fleets, enhance the fuel-efficiency & lifespan, and raise fleet-standards. The aircraft MRO market is highly organized and its participants are overseen by various domestic & global regulatory organizations. These organizations make sure that the quality of MRO services remains maintained in the long run. Worldwide standards for this industry have been set by the ICAO (International Civil Aviation Organization).
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The aircraft MRO market is mainly driven by expansion across commercial aircrafts. Currently, around 20, 000 aircrafts constitute global fleets. Aircraft-retirements have steadily declined owing to wider adoption of aircrafts. This can be attributed to existing aircrafts being constantly renovated to possess the latest technologies. The same bodes well for the industry, pushing its incomes. The airline sector is quite competitive and airline carriers go the extra mile to ensure the production of more customers by providing the best services.
MRO outsourcing also propels market demand. In 2016, there were over 22, 000 active commercial narrow & wide body aircrafts around the globe. Current business fleets are estimated to be substituted with over 40, 000 innovative aircrafts in the next two decades. Business ‘aircraft fleet’ expansions coupled with airline launches should lead to rising MRO operations in the near future. Focus on the delivery of MRO services is likely to add industry revenues. Air travel across developing economies has gone up, also fueling the demand for MRO services.
Several innovative MRO service companies have begun their journey in different countries. This has led regional firms to participate in aircraft MRO activities. Additionally, global trade between various nations has risen, furthering ‘cargo-plane’ frequencies. Hence, it is necessary to conduct regular repairs & examinations to make sure that planes deliver enhanced safety & performance. The need for improved-quality airplanes also propels market growth.
The worldwide aircraft MRO market is predicted to exceed USD 94 billion by 2023. It could grow at a CAGR of about 5 percent during the forecast period (2017 to 2023).
- Distributers & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
The global aircraft MRO industry is fragmented into aircrafts, MROs, applications, and geographies. On the basis of aircrafts; wide body, narrow body, and others make up the market. Components, engines, airframes, line-maintenance, and modification constitute the MROs. The applications comprise business & general aviation, commercial air travel, and military aviation. By geographies; the industry is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Entertainment Systems to Dominate the Interior Directed Sector
In-flight entertainment systems may occupy major shares in the interior MRO sector in the near future. This could be ascribed to frequent transformations across costly equipment for meeting customer requirements. Because of the huge dynamics of electronic products, ‘cabin entertainment retrofitting’ has taken a new leap among novel industry entrants. The same has generated higher sales for the aircraft MRO market.
Asia Pacific to Open New Opportunities
The Asian Pacific industry is all set to undergo huge growth in air traffic, due to its multiplying MRO facilities. Japan, China, India, and South Korea are some of the dominating markets in Asian commercial aviation. South Korea entices many tourist crowds every year and Japan spends a lot on airlines & aircrafts.
‘Camtronics’ is a leading player/company in the aircraft MRO industry & has a vast client-base & product portfolio. Its impressive products & certified professionals speak for themselves. ‘Camtronics’ strives to improve its product-offerings by developing novel techniques and repair solutions. Its primary objective is to provide economic substitutes to ‘new-part’ replacements.
The said player recently took part in ‘MRO Europe,’ a premiere event of the commercial MRO sector, held in Europe. It shared its ideas and opinions regarding hydraulics, components, helicopter & military services, accessories, etc. The associates of ‘Camtronics’ are focused on sharing their knowledge & skills with other employees for the delivery of ‘high-tech’ aeronautical products and advanced customer services.
Scope of Report
The report for Global Aircraft MRO Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Table of Contents
- Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Aircraft MRO Market, by MRO Type
1.1.2. Global Aircraft MRO Market, by Aircraft Type
1.1.3. Global Aircraft MRO Market, by Application
1.1.4. Global Aircraft MRO Market, by Region
- Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
- Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
- Market Insights
List of Tables
Table 1 List of Assumptions
Table 2 Major Patents Granted for Directed Energy Weapon (15 May 2010–15 May 2019)
Table 3 MRO Type: Global Aircraft MRO Market, 2018–2025 (Usd Million)
Table 4 Aircraft Type: Global Aircraft MRO Market, 2018–2025 (Usd Million)
Table 5 Application: Global Aircraft MRO Market, 2018–2025 (Usd Million)
Table 6 Global Aircraft MRO Market, by Region, 2018–2025 (Usd Million)
Table 7 North America: Aircraft MRO Market, by Country, 2018–2025 (Usd Million)
List of Figures
Figure 1 Market Synopsis
Figure 2 Global Aircraft MRO Market: Market Attractiveness Analysis
Figure 3 Global Aircraft MRO Market Analysis, by MRO Type
Figure 4 Global Aircraft MRO Market Analysis, by Component
Figure 5 Global Aircraft MRO Market Analysis, by Application
Figure 6 Global Aircraft MRO Market Analysis, by Region
Figure 7 Global Aircraft MRO Market: Market Structure
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