The global commercial aircarft MRO market was valued at almost $64 billion in 2015 and is expected to reach approximately $76 billion by 2020, says Technavio.
Technavio has announced its latest market research report on commercial aircraft MRO for the forecast period, 2016-2020. This market analysis, under the maintenance repair and overhaul vertical, discusses the major drivers and key emerging trends that will influence the growth of the global commercial aircraft MRO market during the forecast period. Some of the top vendors listed in this industry analysis include AAR, ATS, Lufthansa Technik, ST Aerospace, and SIA Engineering.
In terms of geographical analysis, EMEA is expected to continue its market domination and is likely to surpass $29 billion in revenue by 2020. The western European countries are anticipated to account for a majority of the market’s revenue over the next four years.
“Many OEMs in the market are expanding their portfolio of services with respect to new airframe and engine aftermarket support. To meet the demand and compete with the OEMs, the third-party MRO service providers are expected to inject more funds in their R&D initiatives. Since autoclave is a cost-intensive equipment, it is necessary to develop an alternative repairing technology for composites without compromising on restorative strength,” says Avimanyu Basu, a lead analyst at Technavio for maintenance repair and overhaul.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rapid development in ultrasonic technique
Ultrasonic technique finds application in the detection of surface and subsurface in aircraft structure joints, casting main structural fittings of landing gear legs and engine attachments, pylon, bolts in critical areas, welds, and forging. It is also used for checking adhesive bond quality, composite structure, and lap joints. The technique also finds application in thickness measurement after damage or corrosion removal.
Expansion in existing fleet and launch of new airlines
The global aircraft maintenance market has significant opportunities for growth owing to the establishment and growth of several new airlines, particularly LCCs, and initiatives undertaken by established service providers to expand their fleet over the coming years. The expansion is expected to be particularly prominent in the APAC region. The growth of the global air traffic is also expected to reflect positively on the growth of the global commercial aircraft MRO market during the forecast period.
Establishment of new facilities
Many global aircraft manufacturers are establishing new maintenance facilities to venture into regional markets as well as establishes a competition with the local maintenance service providers. Customers in most regions tend to choose the maintenance service providing arm of the aircraft manufacturer rather than a third-party or outsourced service provider. Furthermore, having a specialized manufacturer-certified line maintenance services available locally will cut down on the cost of flying aircraft to other locations where the maintenance workshop is located.
Some of the other prominent vendors identified in this report are MRO market include Ascent Aviation, Delta TechOps, Evergreen Aviation Technologies, Hong Kong Aircraft Engineering Co. Ltd, Monarch Aircraft Engineering, SR Technics, and Textron Aviation.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Commercial Aircraft MRO Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Aircraft Heavy Maintenance Visit Market 2016-2020
- Global Civil Helicopter MRO Market 2016-2020
- Global Widebody Aircraft MRO Market 2015-2019
- Global Commercial and Military Aircraft MRO Market 2015-2019
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