Engine MRO Market in Aircraft Industry Competitive Analysis by Major Leaders: GE Aviation, Pratt & Whitney, MTU Aero Engines, ST Aerospace, Delta TechOps, SIA Engineering Company

Market Highlights:

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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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.

Competitive Analysis:

With increasing number of service providers in the market, the competition among the players in the global aircraft engine MRO market is strengthening. Rise in investment for improving the services that are being provided and strategic mergers and acquisitions are aiding the market players in expanding their businesses in highly competitive environment of the global aircraft engine MRO market.

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.

Key Players

The leading players of the global aircraft engine MRO market that are profiled in the report published by MRFR are GE Aviation (U.S.), Rolls-Royce (U.K.), Pratt & Whitney (U.S.), Delta TechOps (U.S.), Lufthansa Technik (Germany), Safran Aircraft Engines (Paris), SIA Engineering Company (Singapore), Air France Industries KLM Engineering & Maintenance (France), MTU Aero Engines (Germany), and ST Aerospace (Singapore).

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.

Segmentation:

For the convenience of the report and enhanced understanding; The Aircraft Engine MRO Market is segmented in to 3 key dynamics
Segmentation by Application: Commercial Air Transport, and Business & General Aviation.
Segmentation by Types: Widebody Aircraft, and Narrowbody Aircraft.
Segmentation by Regions: Comprises Geographical regions - Americas (North & Latin), Europe, APAC and Middle East & Africa.

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Target Audience
• Manufacturing Organizations
• Distributors & Suppliers
• Research Institute / Education Institute
• Potential Investors

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This release was published on openPR.