Aircraft Engine MRO Market To Project Steady Expansion At A CAGR Of 6.43% | Industry Key Players: GE Aviation, Rolls-Royce, Pratt & Whitney, Safran Aircraft Engines, Delta TechOps, ST Aerospace

Market Overview:

Development of next-generation aircraft engines has increased the design and functioning complexity of engine components. Aircraft engine MRO (maintenance, repair and overhaul) provide services such as inspection, rebuilding, alteration of aircraft as well as supply of spare parts, accessories, raw materials and other components required for aircraft manufacturing. According to the report that has been published by Market Research Future (MRFR), the global aircraft engine MRO market is anticipated to project steady expand at a CAGR of 6.43% during the forecast period.

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Key Players

The key players of global aircraft engines MRO market are GE Aviation (U.S.), Rolls-Royce (U.K.), Pratt & Whitney (U.S.), Lufthansa Technik (Germany), Safran Aircraft Engines (Paris), SIA Engineering Company (Singapore), Air France Industries KLM Engineering & Maintenance (France), MTU Aero Engines (Germany), ST Aerospace (Singapore) and Delta TechOps (U.S.).

Target Audience

Manufacturing Organizations
Distributors & Suppliers
Research Institute / Education Institute
Potential Investors

Market Drivers and Restraints:

Rapidly increasing aircraft fleet in various countries for defense, personal and commercial purposes has generated considerable demand for aircraft engine MRO services. This rise in demand is acting as one of the major drivers for the growth of the global aircraft engine MRO market. Malfunctioning of aircraft engines can give rise to catastrophic events. The vital role of aircraft engine MRO in ensuring smooth functioning of aircraft engines is fueling the growth of the global aircraft engine MRO market.
With the expansion of air services and increasing number of airlines, the demand for aircraft engine MRO is increasing, resulting in the noteworthy growth of the global aircraft engine MRO market. However, low availability of trained technicians and high cost of aircraft engine MRO services are likely to create hindrance in the growth of the global aircraft engine MRO market.

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In July 2018, IATA has announced that it had entered into an agreement with CFM International, a joint venture between GE Aviation and Safran Aircraft Engines. This agreement is considered to be strengthening the competition for MRO work.

In July 2018, Lufthansa Technik (LHT) has developed a new waterless engine wash procedure, Cyclean dry ice. This system uses mobile blasting system that shoots tiny dry ice pellets to dislodge dirt from aircraft engines and can wash engines in below-freezing weather.

Market Segmentation:

The global aircraft engine MRO market has been segmented on the basis of aircraft type and application. Based on aircraft type, the aircraft engine MRO market is segmented into widebody aircraft and narrowbody aircraft. Based on application, the aircraft engine MRO market is segmented into commercial air transport, and business and general aviation.

Regional Analysis:

Geographically, the global aircraft engine MRO market is segmented into five major regions such as North America, South America, Asia Pacific and the Middle East and Africa. Among these, the aircraft engine MRO market in the North America region accounts for the largest share in the global aircraft engine MRO market. The market in this region is driven by the presence of large pool of aircraft manufacturers and aircraft engine MRO service providers. The Asia Pacific region accounts for the second largest share in the global aircraft engine MRO market due to the increasing number of aircraft fleets owned by various new airlines in the emerging economies of this region.

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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.

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This release was published on openPR.