Component MRO Market 2018 in Aircraft Industry Global Analysis by Leading Manufacturing Vendors: Delta TechOps, Lufthansa Technik, AAR Corp., Barnes Aerospace, Turkish Technic, Air France Industries KLM Engineering

Aircraft Component MRO Market by Aircraft Type (WBA, NBA, and RTA), by Components (Fuselage, Empennage, Landing Gear, Wing, Engine, and Others), and by Geography- Forecast To 2023

Latest Market Updates:
Nov 2017 Ameco, the Sino-German joint venture repair, maintenance and overhaul (MRO) giant, is seeking new customers in the Middle East for its broad array of maintenance services. In this region, Ameco provides heavy maintenance for Iraqi Airways’ fleet of widebody aircraft. Ameco also provides MRO for Qatar Airways, Etihad Airways, Royal Jordanian Airlines and Saudi Arabian Airlines.

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The key players in global aircraft component MRO market are Delta TechOps (U.S.), Lufthansa Technik AG (Germany) , Air France Industries KLM Engineering & Maintenance (France), HAECO (Japan), Honeywell International (U.S.), ST Aerospace (Singapore), AAR Corp. (U.S.), Barnes Aerospace (U.S.), FL Technics (Lithuania) and Turkish Technic, Inc. (Turkey).

Market Synopsis

Asia accounted for the largest share in global aircraft component 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 such airlines have been entering into service, recently such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia. In 2016, 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 2016, North America was the second-largest region for the global aircraft component MRO market. A number of the major MRO service providers such as Airbus and Honeywell, are present in the region, resulting in a high market share of the region. Moreover, it is expected that approximately 10,000 aircraft would be in service in the region by 2035, which would create an opportunity for the major and prominent companies of the region.

Based on application, commercial air transport accounted for the largest market share of 63.11% in 2016. Over the years, the aviation industry has been witnessing a steady growth, owing to the increased diversification among airlines, across the globe. Of late, the passenger traffic is expanding with resilience across the globe, despite a slight slowdown in the global economy. In recent years, the large aviation markets, such as the U.S., Europe, and Asia have witnessed increased expenses by passengers, due to the rising incomes of the expanding middle class population in these regions, which have resulted in the progress of the aviation industry. Moreover, global air travel has been made easier and convenient by the low cost carriers, whilst airlines are extending their services to various geographic locations. This results in an increased focus on the expansion of the aviation industry, around the world. As of 2016, there were over 23,000 airplanes in service, and the number is expected to double, over the next 20 years. To meet this growing demand of commercial aviation, it is important for the MRO service providers, across the globe, to ensure provision of efficient and high quality maintenance for airplane components.

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Aircraft Component MRO services are essential in ensuring smooth operation of an aircraft. The growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane components to ensure efficient performance and safe air travel. In 2016, the market was valued at USD 15,021.4 million and is projected to grow at a CAGR of 5.44 % during the forecast period.

The report for Global Aircraft Component MRO Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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