Commercial Aircraft MRO Market
Global Commercial Aircraft MRO Market Size, Share & Trends Analysis Report By MRO Services (Modifications, Airframe, Components, Engine, and Airframe) By Service Provider (OEM, Operator/Airline In-house, Airline Third Party, and Independent) By Aircraft (Narrowbody, Widebody, Regional Jet, and Turboprop) Forecast (2021-2027). Update Available - Forecast 2024-2030
The global commercial aircraft MRO market is anticipated to grow at a significant CAGR of nearly 4.5% during the forecast period. The major factors that drive the market growth include increasing investments in aircraft MRO software, increasing economic growth, and speedy growth in urbanization in developing economies. For instance, In January 2021, ST Engineering signed a five-year airframe heavy maintenance contract with an unnamed air cargo carrier. ST Engineering will provide heavy maintenance for multiple fleet types, landing gear MRO, and special maintenance of various aircraft types under the agreement.
Apart from these, the growing demand of aircraft MRO from developing economies is further expected as the main reason for the growth of aircraft MRO market. Increased focus of OEM on MRO activities and increased efforts on fuel efficiency is driving global aircraft MRO market. Due to aircraft safety, commercial aircraft MRO maintenance has evolved to grow to be a key market within the industry of aviation.
Impact of COVID-19 Pandemic on Global Commercial Aircraft MRO Market
The COVID-19 pandemic had disrupted the manufacturing operations of various industries across the globe, which had drastically reduced the growth of commercial aircraft MRO market. The aircraft industry is also impacted due to the COVID-19 pandemic, halt by the loss of traffic and revenues. As per latest report from IATA, ICAO, the Airports Council International (ACI), the UN World Tourism Organization (UNWTO), the World Trade Organization (WTO), and the International Monetary Fund (IMF), the international air passenger traffic in 2020 is expected to experience a drop of about 50-55% compared to 2020 baseline. The airline revenue-per-kilometer (RPK) is projected to drop by 48% compared to the 2019 value. The airlines are expected to record potential losses amounting to $289 million to $387 billion in gross operating revenues. Therefore, the demand for commercial aircraft MRO was adversely affected by the COVID-19 pandemic. As the COVID-19 situation normalizes, the commercial aircraft MRO market started recovery as industrial operations were normalized after the recovery.
Segmental Outlook
The global commercial aircraft MRO market is segmented based on the MRO services, service provider, and aircraft. Based on the MRO services, the market is segmented into modifications, airframe, components, engine, and others. Based on the service provider, the market is sub-segmented into OEM, operator/airline in-house, airline third party, and independent. Based on the aircraft, the market is sub-segmented into narrowbody, widebody, regional jet, and turboprop.
Global Commercial Aircraft MRO Market Share by Service Provider, 2020 (%)
Independent Service Provider Segment Holds the Major Share in the Global Commercial Aircraft MRO Market.
Based on the service provider, the independent service provider segment held the prominent market share in 2020. Independent MRO companies faces the challenges of achieving competitive turnaround times for delivering aircraft, engines or other complex components and with the highest quality of service. The airlines companies are outsourcing maintenance including airframe, line maintenance, engine, among others. It is projected that airline outsourced MRO spending will witness significant increase over the forecast period. Independent MRO companies provide major maintenance inspections, landing gear services, engineering services, upgrades, modifications, refurbishments, and painting for a diverse range of aircraft. This led to the segment growth.
Regional Outlook
The global commercial aircraft MRO market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Germany, Italy, Spain, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). North America dominates the market due to high demand for MRO services for commercial, general, and military aircraft in the region. Apart from this, the presence of several aircraft OEMs in the US makes the region the highest aircraft producer, globally and also support in regional market growth.
Global Commercial Aircraft MRO Market Growth by Region, 2021-2027
Asia-Pacific Region Emerge as a Fastest Growing region in the Global Commercial Aircraft MRO Market.
Asia-Pacific is expected to be a fastest growing region in the commercial aircraft MRO market due to the increasing demand for new narrow-body aircraft, which will enhance the need for MRO operations. Major countries, such as China, India, South Korea, Japan, Singapore, and Australia, are significant contributors to the growth of the commercial aircraft MRO market in the region. For instance, China Eastern Airlines has an order backlog of 20 A350s and 54 B737-8s. Such huge procurements offer greater scope for regional MRO operators in terms of component pooling. The rapid growth in air traffic along with airlines fleet size increment, the market for aircraft MRO in the region is growing rapidly and the growth is expected to continue during the forecast period.
Market Players Outlook
The major companies serving the global Commercial Aircraft MRO market include AAAR Corp, Bombardier Inc., Air-France Industries KLM Engineering & Maintenance, GE Aviation, Hong Kong Aircraft Engineering Co. Ltd., Delta TechOps, and MTU Aero Engines AG. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, partnerships and collaborations, and geographical expansion, to stay competitive in the market. For instance, in January 2021, ST Engineering signed a five-year airframe heavy maintenance contract with an unnamed air cargo carrier. ST Engineering will provide heavy maintenance for multiple fleet types, landing gear MRO, and special maintenance of various aircraft types under the agreement.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Commercial Aircraft MRO market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Commercial Aircraft MRO Market
• Recovery Scenario of Global Commercial Aircraft MRO Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. TAP M&E
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. GE Aviation
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Lufthansa Teknik AG
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. United Technologies Corp.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. L3Harris Technologies Inc.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Commercial Aircraft MRO Market by MRO Services
4.1.1. Modifications
4.1.2. Airframe
4.1.3. Components
4.1.4. Engine
4.1.5. Others
4.2. Global Commercial Aircraft MRO Market by Service Provider
4.2.1. OEM
4.2.2. Operator/Airline In-house
4.2.3. Airline Third Party
4.2.4. Independent
4.3. Global Commercial Aircraft MRO Market by Aircraft
4.3.1. Narrowbody
4.3.2. Widebody
4.3.3. Regional Jet
4.3.4. Turboprop
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. AAAR Corp
6.2. Airbus S.A.S
6.3. Air-France Industries KLM Engineering & Maintenance Co
6.4. Barnes Group Inc
6.5. Boeing Co
6.6. Bombardier Inc.
6.7. Collins Aerospace
6.8. Delta TechOps (Delta Air Lines Inc.)
6.9. Embraer S.A.
6.10. FL Technics
6.11. General Dynamics Corp.
6.12. General Electric Co
6.13. Honeywell Aerospace
6.14. Hong Kong Aircraft Engineering Company (HAECO) Ltd.
6.15. Lufthansa Technik AG
6.16. MTU Aero Engines AG
6.17. Rolls-Royce Holding PLC
6.18. Safran SA.
6.19. SIA Engineering Company Ltd
6.20. Singapore Technologies Engineering Ltd
6.21. Triumph Group Inc.
1. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY MRO SERVICES, 2020-2027 ($ MILLION)
2. GLOBAL COMMERCIAL AIRCRAFT MRO FOR MODIFICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL COMMERCIAL AIRCRAFT MRO FOR AIRFRAME MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL COMMERCIAL AIRCRAFT MRO FOR COMPONENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL COMMERCIAL AIRCRAFT MRO FOR ENGINE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL COMMERCIAL AIRCRAFT MRO FOR OTHER SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2020-2027 ($ MILLION)
8. GLOBAL COMMERCIAL AIRCRAFT MRO FOR OEM MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL COMMERCIAL AIRCRAFT MRO FOR OPERATOR/AIRLINE IN-HOUSE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL COMMERCIAL AIRCRAFT MRO FOR AIRLINE THIRD PARTY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL COMMERCIAL AIRCRAFT MRO FOR INDEPENDENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY AIRCRAFT, 2020-2027 ($ MILLION)
13. GLOBAL COMMERCIAL AIRCRAFT MRO FOR NARROWBODY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL COMMERCIAL AIRCRAFT MRO FOR WIDEBODY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL COMMERCIAL AIRCRAFT MRO FOR REGIONAL JET MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL COMMERCIAL AIRCRAFT MRO FOR TURBOPROP MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
18. NORTH AMERICAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
19. NORTH AMERICAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY MRO SERVICES, 2020-2027 ($ MILLION)
20. NORTH AMERICAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2020-2027 ($ MILLION)
21. NORTH AMERICAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY AIRCRAFT, 2020-2027 ($ MILLION)
22. EUROPEAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
23. EUROPEAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY MRO SERVICES, 2020-2027 ($ MILLION)
24. EUROPEAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2020-2027 ($ MILLION)
25. EUROPEAN COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY AIRCRAFT, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY MRO SERVICES, 2020-2027 ($ MILLION)
28. ASIA-PACIFIC COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2020-2027 ($ MILLION)
29. ASIA-PACIFIC COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY AIRCRAFT, 2020-2027 ($ MILLION)
30. REST OF THE WORLD COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
31. REST OF THE WORLD COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY MRO SERVICES, 2020-2027 ($ MILLION)
32. REST OF THE WORLD COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2020-2027 ($ MILLION)
33. REST OF THE WORLD COMMERCIAL AIRCRAFT MRO MARKET RESEARCH AND ANALYSIS BY AIRCRAFT, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL COMMERCIAL AIRCRAFT MRO MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL COMMERCIAL AIRCRAFT MRO MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL COMMERCIAL AIRCRAFT MRO MARKET, 2021-2027 (%)
4. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET SHARE BY MRO SERVICES, 2020 VS 2027 (%)
5. GLOBAL COMMERCIAL AIRCRAFT MRO FOR MODIFICATIONS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL COMMERCIAL AIRCRAFT MRO FOR AIRFRAME MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL COMMERCIAL AIRCRAFT MRO FOR COMPONENTS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL COMMERCIAL AIRCRAFT MRO FOR ENGINE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL COMMERCIAL AIRCRAFT MRO FOR OTHER SERVICES MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET SHARE BY SERVICE PROVIDER, 2020 VS 2027 (%)
11. GLOBAL COMMERCIAL AIRCRAFT MRO FOR OEM MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL COMMERCIAL AIRCRAFT MRO FOR OPERATOR/AIRLINE IN-HOUSE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL COMMERCIAL AIRCRAFT MRO FOR AIRLINE THIRD PARTY MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL COMMERCIAL AIRCRAFT MRO FOR INDEPENDENT MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET SHARE BY AIRCRAFT, 2020 VS 2027 (%)
16. GLOBAL COMMERCIAL AIRCRAFT MRO FOR NARROWBODY MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL COMMERCIAL AIRCRAFT MRO FOR WIDEBODY MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL COMMERCIAL AIRCRAFT MRO FOR REGIONAL JET MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
19. GLOBAL COMMERCIAL AIRCRAFT MRO FOR TURBOPROP MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
20. GLOBAL COMMERCIAL AIRCRAFT MRO MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
21. US COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
22. CANADA COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
23. UK COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
24. FRANCE COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
25. GERMANY COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
26. ITALY COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
27. SPAIN COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
28. REST OF EUROPE COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
29. CHINA COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
30. INDIA COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
31. JAPAN COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
32. SOUTH KOREA COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
33. REST OF ASIA-PACIFIC COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
34. REST OF THE WORLD COMMERCIAL AIRCRAFT MRO MARKET SIZE, 2020-2027 ($ MILLION)
