Aircraft Engine MRO Market Research Report 2019 published By Market Research Future, provides information on Global Aircraft Engine MRO Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Engine Type (Turbine Engine and Piston Engine), by Aircraft Type (Fixed-Wing Aircraft and Rotary-Wing Aircraft), Application (Civil Aviation and Military Aviation) and by Region – Forecast to 2023
The key players in aircraft engine MRO market are Air France Industries KLM Engineering & Maintenance (France), Delta TechOps (US), GE Aviation (US), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Lufthansa Technik AG (Germany), MTU Aero Engines AG (Germany), Rolls-Royce plc (UK), Safran SA (France), SIA Engineering Company Ltd. (Singapore), and United Technologies Corporation (US).
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Market Scenario
Air travel in emerging countries is growing, thereby increasing the demand for aircraft engine MRO service providers. Many new MRO service centers have been setup in many countries in recent years. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft engine MRO. Growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane to ensure efficient performance and safe air travel.
The market is driven by various factors such as development of next-generation engines and rapid fleet expansion. Also, increased restriction in global flight regulations and the need for proper maintenance of engines & engine components, is driving the growth of the aircraft engines MRO market.
Meanwhile, growing environmental hazards associated with the aircraft engine MRO services hinders the market growth to a certain extent while the retirement of maintenance-intensive aircraft is a challenge for the market players. However, MRO outsourcing activities and integration of smart technologies such as IoT in MRO activities.
The global aircraft engine MRO market is expected to witness a CAGR of approximately 7% during the period 2017 to 2024.
The market is segmented by engine type, aircraft type, application, and region. Based on engine type, the aircraft engine MRO market is divided into turbine engine and piston engine. The turbine engine segment is further divided as turbofan, turboprop, and turboshaft. Nowadays, airlines are focusing on procuring turbofan engines to increase fuel economy, which ultimately generates maintenance requirement for the same.
Intended Audience
- Aircraft MRO Service Providers
- Aircraft OEMs
- Airlines
- Aviation Authorities
- Component Providers
- Defense Organizations
- Research Institutions
- Regulatory Bodies
Global Aircraft Engine MRO Market, By Segmentation and Regional Analysis
Based on aircraft type, the aircraft engine MRO market is divided into fixed-wing and rotary-wing. The fixed-wing segment is further divided as wide-body aircraft & others and narrow body aircraft. Some major widebody aircrafts include the Airbus A300, A310, A330, A340, A350 and A380; the Boeing B-747, B-767, B-777, and B-787. These aircraft are in demand for the routes with higher traffic, usually connecting international destinations, and primarily used for long haul journey. As of 2016, there were more than 5,000 widebody aircraft across the globe. While it is expected that over 2,500 widebody planes would be delivered to developed regions such as North America and Europe. Emerging regions for MRO market, such as Asia, Latin America, and the Middle East have twice the number to be delivered by 2035. As a result, there would be a rapid development of aircraft engines and subsequent demand for MRO services.
Based on application, the aircraft engine MRO market is divided into civil and military aviation. The civil aviation segment is further divided as commercial & cargo aviation and business & general aviation. Over the years, the aviation industry has been witnessing a steady growth, owing to the increased diversification among airlines, across the globe. Of late, passenger traffic is expanding with resilience across the globe, despite a slight slowdown in the global economy. Large markets, such as the US, Europe, and Asia witness increased expenses by the passengers, due to the rising income levels of the expanding middle class population in these regions. Moreover, global air travel is made easy and available by low cost carriers, whilst airlines are increasing the services to various geographical locations. This results in an increased focus on the expansion of aviation industry, around the world. As of 2016, there were over 23,000 airplanes in service, and this number is expected to double itself, over the next 20 years. To achieve this growing demand of commercial aviation, it is important for global aircraft engine manufacturers to manufacture innovative engines that are more fuel efficient and have more operational ranges. In addition, the increasing air travel in the Asia-Pacific region, especially in countries such as China, Indonesia, and India, has significantly contributed to the increased development of engines, eventually resulting in increased engine MRO visits and fueling the market for commercial air transport.
North America is the leading region for the global aircraft engine MRO market. Several major aircraft manufacturers (such as Boeing, Bombardier) and engine MRO services providers (GE, UTC) are present in the region, gaining the region a high market share. Moreover, it is expected that approximately 10,000 aircraft would be in service in the region by 2035, which would create an opportunity for the major and prominent companies of the region.
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Scope of Report
The report on the global aircraft engine MRO market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report offers a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value, and the technological, macroeconomic, and governing factors of the market. The report also provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3 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
3.7. Limitations
4 Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat of New Entrants
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power of Supplies
5 Market Dynamics
5.1. Introduction
5.2. Market Drivers
5.3. Market Restraints
5.4. Market Opportunities
5.5. Market Trends
5.6. Patent Trends
Continued……
List of Tables
Table 1 Global Aircraft Engine Mro Market, by Region, 2018–2023
Table 2 North America: Aircraft Engine Mro Market, by Country, 2018–2023
Table 3 Europe: Aircraft Engine Mro Market, by Country, 2018–2023
Table 4 Asia-pacific: Aircraft Engine Mro Market, by Country, 2018–2023
Table 5 Rest of the World: Aircraft Engine Mro Market, by Region, 2018–2023
Table 6 Global Aircraft Engine Mro Engine Type Market, by Region, 2018–2023
Table 7 North America: Aircraft Engine Mro Engine Type Market, by Country, 2018–2023
Table 8 Europe: Aircraft Engine Mro Engine Type Market, by Country, 2018–2023
Continued……
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Continued……
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