Wide Body Aircraft MRO Market : Key Country Analysis By GE Aviation, Honeywell, Lufthansa Technik, Pratt & Whitney, Rolls-Royce, ADAT, MTU Aero Engines and STA

Rapid Aircraft Fleet Expansion to Fuel the Growth of Global Wide-Body Aircraft MRO Market During the Forecast Period (2017-2023)

Market Synopsis

According to a new report by Market Research Future (MRFR), the global market for wide-body aircraft MRO is anticipated to showcase a moderate CAGR during the forecast period (2017-2023) owing to the expansion in aircraft fleet. Wide-body aircraft maintenance, repair, overhaul (MRO) is vital for sustaining the lifespan of wide-body aircraft and comprises routine checks, maintenance, repairs, overhauls, and modifications disbursed on wide-body aircraft and its elements. The early adoption of emerging market trends in maintenance service has further led to the development of aircraft MRO system.

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Industry News

With the increase in long-range wide-body aircraft in Europe and the need to get more capacity to support its military and civil customers, Sabena technics has decided to invest in a new hangar in its facility at France, Bordeaux-Mérignac airport. This 10,000 square meter hangar can accommodate up to three military transport aircrafts such as A400M or a long-range wide-body aircraft up to A350-1000/B777-9X simultaneously.

Competition Analysis

The prominent players operating the global market for wide-body aircraft MRO are GE Aviation (U.S.), MTU Aero Engines (German), Abu Dhabi Aircraft Technologies (UAE), Rolls-Royce (U.S.), Air France Industries KLM Engineering and Maintenance (France), Pratt & Whitney (U.S.), Lufthansa Technik (Germany), Singapore Technologies Aerospace (Singapore), Honeywell Aerospace (U.S.), and others.

Future Constraints and Drivers Affecting the Market Growth

Despite several economic turbulence and unexpected headwinds, the market has shown surprising resilience over the last few years.The growth in growing fleet size of airlines coupled with focus of OEM on aircraft MRO and order fleets are expected to drive the market during the assessment period. Owing to the growth of long-haul routes with higher traffic connecting international destination, the demand for wide-body aircraft MRO’s have increased. With several new wide-body aircraft MRO centers being set up in various countries, there has been an increased participation rate of OEMs. Moreover, the rapid expansion of aircraft fleet along with the increased focus of OEM on providing aircraft MRO is anticipated to spur the market growth besides resulting in an increased expense. As the market is totally dependent on the expansion of aircraft fleet, the increasing or decreasing demand for aircraft can directly impact the market.

The market has expanded with the usage of best class technologies. Thus the growth of the market is expected to go side by side with the growth of investment in the industry.

Meanwhile, strict government mandates coupled with environmental hazard acts, and aircraft retirements might act as a hindrance to the growth of the market globally.

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Global Wide-Body Aircraft MRO Market Segmentation

Globally, the market for wide-body aircraft has been segmented on the basis of platform, MRO type, and region.

The market has been segmented into airframes and modification, components, engines, and line maintenance. Among these, the engine MRO is used widely and holds the majority share of the wide-body aircraft market globally, owing to the need for proper maintenance of engines and its components.

The market has been segmented into military and commercial based on platform. Among these, the commercial segment is predicted to grow at the highest CAGR during the assessment period. Meanwhile, the expansion of military aircraft fleets has resulted in the development of wide-body aircraft MRO market. The augmentation of existing military aircraft fleets coupled with the new launches in airlines will result in the growth of the market.

Asia Pacific to Dominate the Market

Geographically, the market for wide-body aircraft has been spanned across Asia Pacific, North America, Middle East and Africa, Europe, and South America. Among these regions, Asia Pacific is expected to dominate the market, owing to the growth in air traffic in international long-haul routes and heavily relies on medium and small wide-body aircraft. Thus, airlines like Tigerair Australia, Indigo, Air Asia, Tigerair Singapore, and others have made a foray into the service of the wide-body aircraft market. Moreover, this region is home to several service providers like GMF AeroAsia, HAECO, and ST Aerospace, and is anticipated to showcase the highest growth rate over the review period.

North America closely follows Asia Pacific due to the presence of major service providers in the MRO market such as Honeywell and Airbus. The global market is predicted to expand at 4.5 % CAGR over the assessment period. Due to low labor rates, this region outsources 60 % of their airframe MRO and heavy maintenance to Asia.

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