In the past decade, the commercial aircraft MRO (Maintenance, Repair and Overhaul) industry has gained achievements due to improving economic conditions has driven the growth in air travel and therefore aircraft usage and also the Global Commercial Aircraft MRO market. Several airlines instead of developing new aircrafts are opting to upgrade the existing aircraft fleet which requires overhauling and thus boosting the growth of the MRO industry.This growth is primarily driven by Increased Fuel Efficiency, Low Operational Costs of Aircraft and Adoption of Predictive Maintenance Tools and Increasing Customer Preferences for LCC (Low-Cost Carrier) Airlines.
Globally, a noticeable market trend is evident Introduction of 3D Printing Technology
. The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as AAR Corp (United States), Delta Tech Ops (United States), General Electric Company(United States), Rockwell Collins,Inc. (United States), Lufthansa Technik (Germany), Hong Kong Aircraft Engineering Company (China), MTU Aero Engines (Germany), Singapore Technologies Engineering (Singapore) and Iberia Maintenance (Spain) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2018, US airline operator has been awarded a five-year contract to Triumph Group for providing maintenance, repair, and overhaul to CFM56-7B nacelle components for the 737NG aircraft. Under this contract, Triumph Product Support will provide services to inlet cowls, fan cowls, and thrust reversers on the CFM56-7B engines on the carrier’s 737NG fleet. and In June 2018, Airbus and Thai Airways International (THAI) have signed an agreement to form new joint venture maintenance and overhaul (MRO) facility at U-Tapao International Airport near Bangkok.
- Increased Fuel Efficiency
- Low Operational Costs of Aircraft and Adoption of Predictive Maintenance Tools
- Increasing Customer Preferences for LCC (Low-Cost Carrier) Airlines
- Introduction of 3D Printing Technology
- Rapid Advancement in Hybrid Electric Jet Engine Technologies
- Increased Services For Commercial Aircraft
- Scarcity of Skilled Labors As The Advent Of Predictive Maintenance has created a Problem in the MRO Industry in Both Technological And Manpower Filed.
Increasing aircraft fleet size, decreasing annual aircraft retirements, growing traffic of airline scheduled passengers and increasing disposable income of the people using aircrafts and The advent of IoT enabled jet engines and the adoption of predictive maintenance tools
High Cost Maintenance of Commercial Aircraft Is Posing a Challenge For This Market
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Commercial Aircraft MRO Study Sheds Light on
The Commercial Aircraft MRO Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Commercial Aircraft MRO industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Commercial Aircraft MRO industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.