Global Aircraft MRO Market Growth (Status and Outlook) 2019-2024

Aircraft MRO is the description of maintenance repair and overhaul to aircraft, maintenance, repair and overhaul (MRO) is a key activity in the lifecycle of aircraft. Because of the typically long operational lifetimes expected from these costly assets, MRO is necessary to maintain these systems in a safe and functional condition, so that they can fulfill the operational role that they were designed for.
The market size of aircraft MRO is related to downstream demand and global economy. As there will always be some uncertainties in the global economy in the following years, the growth rate of aircraft MRO market might not keep that fast. But it is surely forecasted that the market of aircraft is still promising.
The global aircraft MRO industry markets mainly concentrate in North America, Europe and China, Singapore and Korea. North America's revenue accounted for the highest market share (41%) in 2017, followed by Europe.
These companies tend to compete against each other globally to supply most of the largest aircraft MRO markets. In many markets, these leading global firms also face competition from local players.
The global market of aircraft MRO has mainly been driven by its downstream industry, the strong growth of the fleet in the last decade. Economic investment and national policies are also the main growth catalysts for the market.
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, core technology improvement, manufacturing equipment innovation, and brand establishment.

According to this study, over the next five years the Aircraft MRO market will register a 3.7% CAGR in terms of revenue, the global market size will reach US$ 146100 million by 2024, from US$ 117700 million in 2019. In particular, this report presents the global revenue market share of key companies in Aircraft MRO business, shared in Chapter 3.

This report presents a comprehensive overview, market shares and growth opportunities of Aircraft MRO market by product type, application, key companies and key regions.

This study considers the Aircraft MRO value generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Engine Maintenance
Components Maintenance
Line Maintenance Modification
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Commercial
Military

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Lufthansa Technik
GE Aviation
AFI KLM E&M
ST Aerospace
MTU Maintenance
AAR Corp.
Rolls-Royce
SR Technics
SIA Engineering
Delta TechOps
Haeco
JAL Engineering
Ameco Beijing
TAP M&E
ANA
British Airways Engineering
Korean Air
Iberia Maintenance

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Aircraft MRO market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Aircraft MRO market by identifying its various subsegments.
Focuses on the key global Aircraft MRO players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Aircraft MRO with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Aircraft MRO submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.