The global aircraft MRO market has been segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The global air passenger traffic is increasing at a constant pace, which has forced the airlines to increase their flight movements and introduce new aircraft. Aircraft MRO activities are essential in keeping up component availability, consistency, and quality. Airline operators depend on MRO services to ensure the safety of the aircraft and enhance fuel efficiency. The MRO market has become a viable business in the aviation industry since original equipment manufacturers (OEMs) mainly focus on the development of aircraft. In most of the regions of the world, economic performance has been remarkable over the last few years, largely due to better consumer buying power, growing equity markets, and industry consolidation. In spite of Brexit and various other trade barriers, the global markets have remained relatively stable.

Key Findings of Aircraft MRO Market Study:

The Aircraft MRO Market is segmented on the basis of component, aircraft type, end users, and geography. Based on component, the market is divided into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others. In terms of aircraft type, the market is categorized into fixed wing aircraft, and rotary wing aircraft. In terms of aircraft type, the market is categorized into fixed wing aircraft, and rotary wing aircraft. Based on end users, the market is divided into commercial and military. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.

In terms of component, the Aircraft MRO market is segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others. The engine MRO segment held the largest Aircraft MRO Market share.

The aircraft MRO market is experiencing significant demand from the commercial aviation sector (including civil aviation airlines, business jet owners, and training aircraft owners). As a result, the key aircraft MRO market players are expanding their presence in various growing economies to increase their market share. For instance, in July 2023, Safran, one of the leading French aerospace giants, expanded its presence in India through the commission of one of the largest aircraft engine MRO facilities in Hyderabad. As the engine is the most crucial component of an aircraft, it is imperative to ensure regular maintenance and repair activities. To lower the number of aviation accidents due to faulty engines, end users such as civil aviation airlines, business jet owners, and training aircraft owners are currently placing significant emphasis on engine MRO.

Based on aircraft type, the Aircraft MRO Market is segmented into fixed wing aircraft, and rotary wing aircraft. In the current aviation sector, the fixed-wing aircraft segment is experiencing a significant boom owing to the exponential rise in air travel passengers across the world. This is leading to an increase in the number of new aircraft, which is simultaneously increasing the size of the existing aircraft fleet. All these aircraft demand regular maintenance and repair activities owing to the need for optimal performance. Airlines worldwide are undertaking initiatives to modernize their existing fleets with advanced technologies. The upward trend in aircraft retrofitting activities is boosting the revenue generation stream of market players operating in the aircraft MRO market.

Based on end users, the Aircraft MRO Market is segmented into commercial, and military. The commercial aviation industry consists of airline companies that offer transportation services for passengers and cargo. Over 300 airlines operate in 120 countries that are registered under IATA. The number of passengers traveling by air is also increasing, and as per the data provided by IATA, the number of passengers is expected to hit 8.2 billion by 2037. The increasing demand for new aircraft in commercial aviation is driven by the growth in air travel and cargo. Aircraft manufacturers are focusing on investing in their manufacturing facilities to fulfill the increasing demand for new aircraft and clear the backlogs. The increasing fleet size across the commercial aviation industry is expected to support the growing demand for maintenance and repair services, which would further support the growth of the aircraft MRO market. The commercial aviation sector companies undertake significant initiatives to maintain their aircraft fleet owing to the increase in demand for passenger and aircraft safety and fuel efficiency. Hence, the number of individual MRO service providers is at a constant rise, and the revenues generated by these MRO service providers are also surging.

AAR CORP; Barnes Group Inc; GE Aerospace; FLTechnics, UAB; Turkish Technic Inc; Singapore Technologies Engineering Ltd; Lufthansa Technik; Delta TechOps; Rolls-Royce Holdings Plc; and Collins Aerospace are among the key players profiled in the Aircraft MRO Market report. Several other major players were studied and analyzed during the Aircraft MRO Market analysis to get a holistic view of the market and its ecosystem. The Aircraft MRO Market also provides detailed market insights, which help the key players strategize their growth. the report includes growth prospects owing to the current Aircraft MRO Market trends and their foreseeable impact during the forecast period.

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