MarkNtel Advisors recently published a detailed industry analysis of the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2029

The Aircraft Maintenance, Repair and Overhaul (MRO) Services Market size in the year 2022 was around USD 78.9 billion and it is estimated to grow at a CAGR of around 7.32% during the forecast period, i.e., 2024-29

Key Findings in Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market:

• Historical Analysis: 2019–2022
• Base Year: 2023
• Forecast Period: 2024–2029

Leading Market Players- Delta TechOps, Lufthansa Technik AG, Air France Industries KLM Engineering & Maintenance, Hong Kong Aircraft Engineering Company Limited [HAECO], PT GMF Aeroasia TBK, Avia Solutions Group PLC, StandardAero, Emirates Engineering, MTU Aero Engines AG, Singapore Technologies Engineering Ltd, Tap Maintenance & Engineering Ltd., AAR Corporation, Textron Aviation, Inc., Euravia Engineering & Supply Co. Ltd, Air India Engineering Services Ltd, Others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services industry?

Extensive Air Cargo Delivery & Air Travel Driving Market Growth – Over the past few years, air traffic has consistently increased due to the surge in the transportation of goods via air and the rising tourism across the globe. Air cargo is crucial for perishable goods transportation like pharmaceuticals, seafood, vaccines, etc., since it provides timely delivery of these goods and ensures the preservation of the quality & shelf life of the goods.

According to the International Air Transport Association, in 2022, Air Cargo transports over USD 6 trillion worth of goods annually and accounts for approximately 35% of world trade. In addition, valuable & expensive products like electronics and other luxury goods are transported from one country to the destination via air to reduce the risk of theft. This rising usage of aircraft for the delivery of goods is resulting in a surge in aircraft utilization rates. As a result, the aircraft are more prone to some failures in aircraft systems and components. Thus, cargo operators such as DHL Aviation, Emirates SkyCargo, etc., are going for Aircraft MRO Services to ensure the smooth functioning of the aircraft.

Moreover, the rising net disposable income in countries like the UAE, Hong Kong, Germany, etc., and the increasing inclination of the Millennials & GenZ population towards exploration of different regions is leading to an increase in air travel. The surge in air travel is putting strain on aircraft components like engines, propellers, etc. Hence, the fleets of airlines like Go First, Akasa Air, etc., undergo regular maintenance, driving the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market.

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What segments define the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market from 2024 to 2029? How do these segments contribute to market dynamics and growth?

By Type of MRO

• Independent MRO- Market Size & Forecast 2019-2029F, USD Million
• Original Equipment Manufacturer (OEM) MRO- Market Size & Forecast 2019-2029F, USD Million
• Airline/Operator MRO- Market Size & Forecast 2019-2029F, USD Million

By Service Type

• Airframe Maintenance- Market Size & Forecast 2019-2029F, USD Million
• Engine Overhaul- Market Size & Forecast 2019-2029F, USD Million
• Modification- Market Size & Forecast 2019-2029F, USD Million
• Component repair & Maintenance- Market Size & Forecast 2019-2029F, USD Million
• Line Maintenance- Market Size & Forecast 2019-2029F, USD Million

According to report, Engine overhaul segment witnessed remarkable growth in the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market due to the increasing insurance & warranty agreements between the MROs and airline operators related to engine maintenance and performance.

By Type of Aircraft

• Commercial Aviation
• Narrow body Jet- Market Size & Forecast 2019-2029F, USD Million
• Widebody Jet- Market Size & Forecast 2019-2029F, USD Million
• Regional Jet- Market Size & Forecast 2019-2029F, USD Million
• Cargo- Market Size & Forecast 2019-2029F, USD Million
• General Aviation
• Single-Engine Piston Aircraft
• Twin-Engine Piston Aircraft
• Turboprop Aircraft
• Business Jets
• Amphibious Aircrafts
• Others (Rotorcraft, Aerobatic Aircraft, etc.)
• Military Aviation
• Fighter Aircraft
• Bomber Aircraft
• Reconnaissance Aircraft
• Special Mission Aircraft
• Others (Transport Aircraft, Trainer Aircraft, etc.)

According to report, The increasing air travel by individuals & the surging air cargo has led to a surge in the demand for commercial aviation.

Explore the Complete Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Analysis Report – https://www.marknteladvisors.com/research-library/aircraft-mro-services-market.html

Geographical Analysis: Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market

 By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Industry Recent Development:

• 2023: AAR Corp. announced to provide airframe MRO services to the existing fleet of United Airlines till 2030.
• 2022: Delta TechOps announced an agreement with CFM International to provide engine overhaul MRO services for their next-generation LEAP-1B aircraft engine.

  Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market?
• How is the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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