Aircraft Component MRO Market 2018 Reviews by Global Key Players: Delta TechOps, Lufthansa Technik, HAECO, Honeywell International, ST Aerospace, Barnes Aerospace, FL Technics

Aircraft Component MRO Market Highlights:

Aircraft Component MRO is witnessing an exciting phase as it develops positively in response to global market cues. According to a report published by Market Research Future on Aircraft Component MRO Market Research Report - Global Forecast to 2023 projected that the sector will grow at a CAGR of 5.44 % during the forecast period. Since MRO services are essential for operation of aircrafts, there is a lot of interest and requirement for MRO services as airlines expand their fleets to cater to a larger client base.

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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Major Key Players
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 Segmentation

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.

Military aviation segment accounted for the second largest market share in 2016. With the expected deployment of the much anticipated F-35 Lightning II Joint Strike Fighter (JSF) plane, which has received a large number of orders from several countries, the MRO market for the JSF aircraft is expected to be relatively high. The U.S. DOD intends to have regional repair capabilities in Europe and the Pacific for all 774 components of the F-35 JSF. The plane is expected to replace the currently operating F-16 Fighting Falcon aircraft. As a result, until the introduction of the JSF planes, it is expected that the MRO market for the F-16 aircraft would be growing over time. Therefore, it is expected that the component MRO market for military aviation planes would grow at a CAGR of 3.30%, during the forecast period.

Aircraft Component MRO services are essential in ensuring smooth operation of an aircraft. The growing international trade between countries has 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.

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This release was published on openPR.