Global Commercial Aircraft MRO Market Overview:
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.
- 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
- 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
The market appears to be fragmented and with the presence of several top aircraft companies leading to intense competition among them. Trends like The advent of IoT enabled jet engines and the adoption of predictive maintenance tools, will provide considerable growth opportunities to commercial aircraft MRO manufactures.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like Mexicana MRO services (United States), Sabena Technics (France) and Air France Industries (France). Analyst at AdvanceMarketAnalytics see United States Manufacturers to retain maximum share of Global Commercial Aircraft MRO market by 2024. Considering Market by End users, the sub-segment i.e. Government Companies will boost the Commercial Aircraft MRO 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.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Commercial Aircraft 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 Commercial Aircraft 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 Commercial Aircraft Maintenance Manufacturers, Government and Regional Bodies, Airlines manufacturers, Traders, Distributors and Supplier 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.