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Aircraft Component MRO Market Size, Share & Industry Analysis, By Aircraft Type (Wide-body Aircraft, Narrow-body Aircraft, Regional Transport Aircraft), By Component (Fuselage, Empennage, Landing Gear, Wings), By Application (Commercial Air Transport, Business & General Aviation, Military Aviation) And Regional Forecast 2020-2027

Region : Global | Report ID: FBI104871 | Status : Ongoing

 

KEY MARKET INSIGHTS

The aircraft component MRO services are providing the maintenance, repair, and overhaul activity for mechanical actuators, landing gears, auxiliary power units (APU), avionics, and fuel system of the aircraft.


The MRO services are providing a set of supervision activity to improve the life-span of the aircraft.  The aircraft component MRO service is improving the reliability and efficiency of the aircraft.


The factors are expected to drive the market are increasing the demand for aircraft component MRO service solutions from the commercial airlines. Moreover, the growth of commercial aviation MRO services in the emerging economy, such as China and India, is anticipated to boost the market. The key companies such as Air France Industries KLM Engineering & Maintenance, Delta TechOps, and FL Technics are providing cost-efficient MRO services in the market. However, the COVID-19 pandemic effect is decreasing the rate of an international passenger traveling, which is hampering the market growth.


Key Market Driver -

• The increasing Demand of Commercial Airlines and Expansion of Existing Fleets • The Increasing Need of Aircraft Maintenance Service & MRO Solutions for the Commercial Airlines is Refueling the Market Growth

Key Market Restraint -

• The COVID-19 Impact is Hampering the Market Growth


Market Segmentation:


By aircraft type, the market is segmented into wide-body aircraft, narrow-body aircraft, and regional transport aircraft. Based on the component, the market is segmented into fuselage, empennage, landing gear, wings, engine, and others. Based on the application, the market is categorized into commercial air transport, business & general aviation, and military aviation. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.


Key Players Covered:


Major key players that are present in the aircraft component MRO market are Air France Industries KLM Engineering & Maintenance (France), AAR Corp. (THE U.S.),  Barnes Aerospace (THE U.S.), Delta TechOps (THE U.S.), FL Technics (Lithuania), HAECO (Japan), Honeywell International (THE U.S.),  Lufthansa Technik AG (Germany), ST Aerospace (Singapore), Turkish Technic, Inc. (Turkey). , and among others.


Key Insights



  • The Increasing Demand for Commercial Airlines and Expansion of Existing Fleets

  • Increased focus of OEM on MRO activities from the Emerging Economy such as China and India


Regional Analysis:


The aircraft component MRO market is analyzed across four major regions North America, Europe, Asia Pacific, and Rest of the World. At present, North America is projected to steer the market during the forecast period. This growth is attributed to the presence of key players, which include AAR Corp., Barnes Aerospace, Delta TechOps, Honeywell International, and among others.


The Asia Pacific is estimated to capture a significant market share of the aircraft component MRO market during the forecast period. This growth is attributed to the increasing passenger traffic from the emerging economy such as India and China. Moreover, the increasing demand for aircraft component MRO services from the commercial airlines of Singapore is refueling the market growth. For instance, In August 2019, The Civil Aviation Authority of Singapore (CAAS) and China had signed a collaboration contract to reduce the time and cost required for the MRO services.


Europe also exhibits significant growth in the market. This growth is attributed to the presence of key players, which include KLM Engineering & Maintenance and Lufthansa Technik AG. In Europe, the rising adoption of innovative software technologies for labor-hour tracking and maintenance scheduling is refueling market growth. The Rest of the World registers significant growth during the forecast period. This growth is attributed to the growing demand for aircraft component MRO services from the commercial airlines of South America and the Middle East & Africa.


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Segmentation


























 ATTRIBUTE


  DETAILS

By Aircraft Type




  • Wide-body Aircraft

  • Narrow-body Aircraft

  • Regional Transport Aircraft



By Component




  • Fuselage

  • Empennage

  • Landing Gear

  • Wings

  • Engine

  • Others



By Application




  • Commercial Air Transport

  • Business & General Aviation

  • Military Aviation



By Geography




  • North America (The U.S. and Canada)

  • Europe (The U.K., Germany, France, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, Singapore, and Rest of Asia Pacific)

  • Rest of the World (South America, and the Middle East & Africa)



Aircraft Component MRO Market Industry Developments



  • In October 2020, RUAG Australia and the U.S. Navy had signed a contract for component maintenance, repair and overhaul services for MH-60R Seahawk helicopters. According to this contract RUAG Australia was providing component MRO service to improve the life-span of the SH-60B Seahawk helicopter.

  • In May 2020, Triumph Group, Inc. and the U.S. army had signed a six-year contract extension for maintenance, repair and overhaul (MRO) services for CH-47 Chinook fleet. The Triumph Group, Inc was delivering  the MRO services at the West Hartford, (The U.S. )Connecticut repair station of CH-47 Chinook helicopter.


Aircraft Component MRO Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

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