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Aircraft MRO Market 2018 Report by MRO Type, Aircraft type, Application and Region by Forecast to 2023

05-11-2018 09:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Future

Aircraft MRO Market 2018 Report by MRO Type, Aircraft type,

Market Highlights:

Over the years, the aviation industry has been witnessing a steady growth, owing to the increased diversification among airlines, across the globe. Of late, passenger traffic is expanding with resilience across the globe, despite a slight slowdown in the global economy. Large markets, such as the U.S., Europe, and Asia witness increased expenses by the passengers, due to the rising income levels of the expanding middle class population in these regions.

Moreover, global air travel is made easy and available by low cost carriers, whilst airlines are increasing the services to various geographical locations. This results in an increased focus on the expansion of aviation industry, around the world. As of 2016, there were over 23,000 airplanes in service, and this number is expected to double itself, over the next 20 years. To achieve this growing demand of commercial aviation, it is important for global aircraft engine manufacturers to manufacture innovative engines that are more fuel efficient, and have more operational ranges.

Air travel in emerging countries is growing, thus increasing the demand for aircraft engine MRO service providers. Many new MRO service centers have been setup in such countries in recent years. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft engine MRO. Growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane to ensure efficient performance and safe air travel.

Download Sample Report of Aircraft MRO Market @ https://www.marketresearchfuture.com/sample_request/1560

Key Players

The key players of the global aircraft MRO market are Airbus Group, Air France KLM Engineering & Maintenance, Air Works, Delta TechOps, HAECO, Honeywell International, GMF AeroAsia, Lufthansa Technik, Jet Maintenance Solutions, and ST Aerospace.. In 2016, Airbus Group, Air France KLM Engineering & Maintenance, Lufthansa Technik, and ST Aerospace accounted for over 35% of the global market.

Market Drivers
Rapid fleet expansion and MRO outsourcing are some of the major factors driving the global aircraft MRO market. As of 2016, there were more than 22,000 active commercial wide body and narrow body aircraft across the globe. The existing commercial fleets are expected to be replaced by more than 40,000 new aircraft, over the next 20 years. The expansion of the existing commercial aircraft fleets along with the launch of new airlines, would result in increased MRO activities in the future. Hence, it is expected that the rapid fleet expansion would eventually drive the aircraft MRO market. In addition, the increased focus of OEMs on providing aircraft MRO would add funds to the market.

Regional Analysis
Asia had the largest share of the global aircraft MRO market in 2016. It is an emerging region in the long-haul international market and it relies heavily on the small and medium wide-body aircraft. As a result, a number of airlines such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia have been entering into service. Moreover, Asia-Pacific is home to major MRO service providers such as HAECO, GMF AeroAsia, and ST Aerospace, and is projected to witness the highest growth rate, during the forecast period. In addition, due to the low labor rates, North American airlines outsource 60% of thir heavy maintenance and airframe MRO, to Asia, where it is a major source of income.

Get Complete Report of Aircraft MRO Market @ https://www.marketresearchfuture.com/reports/aircraft-mro-market-1560

Intended Audience

• Distributers & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

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