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Aerospace & Defense Icon

Aircraft Maintenance, Repair and Operations (MRO) Market – Trends Forecast Till 2030

The Maintenance, Repair, and Operations (MRO) Market Size is segmented by organization Outlook (Airline/Operator MRO, Independent MRO, Original Equipment Manufacturer (OEM) MRO), Aircraft Outlook (Narrow-body, Wide-body, Regional Jet, Others), Aircraft Generation (Old Generation, Mid Generation, New Generation), MRO Type (Industrial, Electrical, Facility, and Other MRO Types) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

  • Published Date : July 2023
  • Base Year Estimate : 2022
  • Report ID : D-AD-AMROM-1421
  • Format :
  • Number of Pages : 801
  • Domain : Aerospace & Defense
  1. Aerospace & Defense
  2. Aircraft Maintenance, Repair and Operations (MRO) Market – Trends Forecast Till 2030
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REPORT SYNOPSIS
Market Snapshot Market Overview Delvens Industry Expert's Standpoint Market Portfolio Key Findings Regional Analysis Competitive Landscape Recent Developments Reasons to Acquire Report Scope
Table Of Content Frequently Asked Questions

Market Snapshot

Market Overview

The global Aircraft Maintenance, Repair and Operations (MRO) market size was estimated at USD 408.5146 billion in 2023 and is projected to reach USD 498.902 billion in 2030 at a CAGR of 2.53% during the forecast period 2023-2030.

Aircraft Maintenance, Repair and Operations (MRO) can be described as all the steps and procedures required to maintain an aircraft to keep it running smoothly. In addition, there is an increasing focus on sustainability, which has led to parts being repaired rather than replaced, which has contributed to the growth of the MRO market, creating demand for MRO products. The emergence of new technologies and the need to improve competitiveness have also changed the MRO industry, and suppliers in the market now offer a wide range of products to meet different customer needs.

The growth of the global Aircraft Maintenance, Repair and Operations (MRO) market is mainly driven Rapid urbanization and acceleration of economic growth in developing countries along with increasing business and tourism travel is expected to boost market growth. The market is significantly affected by various external factors such as air traffic volume, global fleet size and aircraft utilization. The increase in people's business and personal air travel is also expected to increase the production of aircraft, which will have a major impact on the market. The development of smart factories and the increase in the use of predictive maintenance such as sensors and the Internet of Things are expected to stimulate growth in the MRO sector.

Proactive maintenance allows production components to be replaced before visible defects occur, reducing downtime and saving costs. But the growing need to comply with various regulations and safety standards is also a challenge for companies, leading to rising costs of MRO products and challenging market growth. In addition, increased competition among suppliers leads to price competition reducing profit margins and slow market growth.

The COVID-19 pandemic has disrupted global supply chains, making it difficult for MRO companies to obtain parts and equipment needed to maintain and repair machinery, causing service delays and costs for some companies. The slowdown in economic growth caused by the pandemic has also reduced the demand for MRO products and services, which has further affected the market growth.

Delvens Industry Expert's Standpoint

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Despite the Strides Taken in Safe Flying, Ever-Present Threat of Plane Crashes Drives Emphasis on Airworthiness & Plane Maintenance: Global Number of Fatalities on Commercial Flights for the Period 2010-2019. The Ever-Present Threat of Air Accidents Reinforces the Importance of MRO. This presents as a great opportunity to enter the MRO market as currently it is in great demand because of the regulations being set-up by the governments. The market growth is fueled by several factors, including but not limited to the growing need to Reduce Operating Costs Drives Growth in MRO Outsourcing Services, the increasing adoption of Aircraft Maintenance, Repair for smooth operations, Low-Cost Carriers (LCCs) Expand MRO Opportunity in Asia-Pacific. These factors have led to the expansion of the market and increased demand for Aircraft Maintenance, Repair and Operations (MRO) solutions.

Market Portfolio

Key Findings

  • The aircraft components MRO segment is expected to grow significantly during the forecast period. The growing demand for air travel increases the frequency of flights, resulting in increased aircraft maintenance, including components and spare parts. The growth of air transport in the logistics industry also fueled the maintenance of cargo aircraft, which contributed to the growth of the segment. Many big players participate in this segment through alliances with other major players and OEMs.
  • The engine repair segment is expected to grow with the main market share in 2022. OEM involvement in engine maintenance activities is an important factor explaining the growth of the aircraft MRO market. Engine MRO includes field maintenance and pit maintenance. Stock level maintenance includes comprehensive maintenance, repair and complete rebuilding of engines, parts and subassemblies. Field maintenance includes shop type work and equipment maintenance.
     
  • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe is estimated to account for the largest market share during the forecast period.

Regional Analysis

Asia-Pacific to Dominate the Market

  • The main countries in this region are India, Japan, China, Australia and Malaysia. Growing investments in manufacturing industries, including auto parts, semiconductor chips and data centers, are expected to drive demand for MRO suppliers. In addition, acceleration of urbanization and growing need for sustainable buildings are expected to boost the growth of the home construction market in Asia Pacific. Green areas with smart functions that ensure energy efficiency are also attracting a lot of interest.
     
  • Moreover, Major players in India are investing in well researched markets. For example, in October 2022 Adani Defense Systems and Technologies Ltd. Adani Enterprises subsidiary and Adani Group's defense industry arm (ADSTL) has acquired Air Works, India's oldest MRO company, which currently operates in a total of 27 cities. the company is valued at approximately 400 million rupees ($48.2 million).