- The key vendors in the global commercial and military aircraft MRO market 2015-2019 are Airbus Group, Honeywell International, HAECO, Lockheed Martin and ST Aerospace
London, 03 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global commercial and military aircraft MRO market 2015-2019. Introduction of wearable technology in MRO is one of the major trends upcoming in the market. With the induction of wearable technology, maintenance specialists can assess the information of more aircraft than they would be able to do if they were on ground. For example, Japan airlines used Google Glass for the maintenance process. Engineers wear the glasses and send pictures of the aircraft to specialists for assessment, which reduces the complexity of work. The global commercial and military aircraft MRO market 2015-2019 is expected to grow at a CAGR of 3.36% during the period 2014-2019.
The utilization of aircraft is continuously increasing because of rise in passenger traffic and hence the requirement for maintenance is also increasing. The MRO vendors are also offering benefits to smaller airlines of purchasing engines on pay-as-you-go basis per flying hour. The number of engines has also grown significantly because of increase in aircraft fleet, which will have impact on market growth.
“MRO vendors and airlines could make their operations more efficient with the introduction of RFID. With the help of this, MROs can locate their spare parts faster, which helps in reducing flight delays and cancellations,” says Faisal Ghaus, Vice President of Technavio Research.
“The help of new generation mobile devices will enable the technician to access any information related to maintenance and also reduces the time to complete the repair process.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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