Global Aerospace MRO Market Overview:
Aerospace MRO represents Aerospace Maintenance, Repair, and Overhaul Service. It is a specialized administration performing support activities on airplanes and their parts, like stream motors and landing gear. In other words, Aerospace MROs is the capacity to perform line and base support on a huge variety of airplanes. Maintenance, repair, and overhaul (MRO) is a fundamental necessity to guarantee that airplanes are kept up with still up in the air states of airworthiness to securely move travelers and freight. The aviation MRO market is affected by outside factors in the more extensive air transport industry.
- Increase in the incidence of aircraft accidents due to non-proper maintenance, repair of the aircraft
- Increase in customer demands for higher functionality of the aircraft's
- High cost of the Aerospace MRO
- Lack of professional personnelís to handle the MRO activity
- Development of new MRO service providing by integration with new technology advancements like AI, IoT, and machine learning
- Increase investment to develop infrastructure regarding aerospace in the emerging countries
- Stringent rules and regulations of the government
The Aerospace MRO market is a fragmented market with the availability of giant players in the market. The service providers are increasing their research activities to increase their presence across different regions and application of the advanced technology to enhance their services and avail competitive advantage.
Some of the key players profiled in the report are Air France KLM Engineering & Maintenance (Netherlands), Air Works (India), Airbus (Netherlands), Delta TechOps (United States), GMF AeroAsia (Indonesia), HAECO (Hong Kong), AAR Corp. (United States), Honeywell Aerospace (United States), Lufthansa Technik (Germany) and ST Aerospace (Singapore). Additionally, following companies can also be profiled that are part of our coverage like SIA Engineering (Singapore), SR Technics (Switzerland), Turkish Technic (Turkey) and Jet Maintenance Solutions (Lithuania). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Aerospace MRO market by 2026.
On 28 September 2021, Air France Industries KLM Engineering & Maintenance Components China and AvtechTyee signed an industrial cooperation agreement, which entitled the AFI KLM E&M subsidiary based Shanghai to be an authorized repair shop in China. Under this agreement, AFI KLM E&M Components China is now the repair station of AvtechTyee in China mainland to support the OEM aftermarket services on their products.
What Can be Explored with the Aerospace MRO Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Aerospace MRO Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Aerospace MRO
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Aerospace MRO market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Aerospace MRO market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Associations, Government Regulatory Authorities, Technology Research Institutions, Aerospace Service Providers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Aerospace MRO Market?
The Aerospace MRO market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Aerospace MRO Market?
Top performing companies in the Global Aerospace MRO market are Air France KLM Engineering & Maintenance (Netherlands), Air Works (India), Airbus (Netherlands), Delta TechOps (United States), GMF AeroAsia (Indonesia), HAECO (Hong Kong), AAR Corp. (United States), Honeywell Aerospace (United States), Lufthansa Technik (Germany) and ST Aerospace (Singapore), to name a few.
3. What trending factors would impact Aerospace MRO Market growth most?
"Airframe Original Equipment Manufacturers (OEMs) would mainly focus on the development and production of aircraft
" is seen as one of major influencing trends for Aerospace MRO Market during projected period 2020-2026.