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Aircraft MRO Market worth too be USD 95 Bn | Industry Trends, Size, Segment and Industry Growth by Forecast to 2023

11-06-2018 08:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Future

Aircraft MRO Market worth too be USD 95 Bn | Industry Trends, Size,

Market Drivers

Rapid fleet expansion and MRO outsourcing are some of the major factors driving the global aircraft MRO market. As of 2016, there were more than 22,000 active commercial wide body and narrow body aircraft across the globe. The existing commercial fleets are expected to be replaced by more than 40,000 new aircraft, over the next 20 years. The expansion of the existing commercial aircraft fleets along with the launch of new airlines, would result in increased MRO activities in the future. Hence, it is expected that the rapid fleet expansion would eventually drive the aircraft MRO market. In addition, the increased focus of OEMs on providing aircraft MRO would add funds to the market.

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What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements

Competition Analysis

Prominent market players include Lufthansa Technik AG, Honeywell International Inc., AirbusGroup Limited, Delta TechOps, and Singapore Technologies (ST) Aerospace. In 2016, ST Aerospace, Air France KLM Engineering & Maintenance, Delta TechOps, and Lufthansa Technik AG accounted for close to 35% market share. OEMs are establishing their own MRO divisions to optimize aircraft maintenance costs and keep overheads to a minimum. Consolidation of existing divisions is a common trend in the industry to counter the encroachment of third-party MROs as evident by such moves by Airbus and Boeing. Partnerships between OEMs and MROs is also expected to lead to new alliances in the market.

Developments
Mahindra Group, a recognized Indian conglomerate, has reportedly decided to partner with ShinMaywa Industries, a Japanese firm, for setting up MRO units in India. These centers are expected to be used in the manufacture and assembly of specific components and parts of ShinMaywa US-2, an amphibian aircraft. The aircraft will be used in border surveillance and patrol missions.
Aerostar S.A., a Romanian company, has decided to expand its MRO capacity by setting up a new center at Iasi International Airport. The new facility recently carried out the servicing of aircraft owned by Pegasus Airlines, a low-cost Turkish airline.

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Regional Analysis

Regions covered in the market report include North America, Latin America (LATAM), Asia Pacific (APAC), Middle East & Africa (MEA), and Europe. The APAC market is projected to exhibit high growth due to the presence of major airlines such as Air Asia, IndiGo, and Tigerair. In addition, low labor costs make the region lucrative for MRO outsourcing. This is evident with major North American airlines outsourcing 60% of their maintenance-related services to Asia.

The India market within the APAC region is expected to offer opportunities for growth. Infrastructural development coupled with adoption of latest technologies is making the region viable for investment. Measures taken by the Indian government in reducing the taxes on spare parts could be a relief for the industry. Tax exemption proposals for MRO units can boost domestic market growth.

The Europe aircraft MRO market is anticipated to witness an upsurge in demand owing to retrofitting of new devices in legacy aircraft. This is evident by continuous maintenance conducted on single-aisle jets in the region.
The North America market is projected to witness a sluggish growth rate due to the emergence of various third-party MROs and attrition of major airlines owing to their reduced capacity of handling large fleets. Replacement of older aircraft has led to fewer maintenance checks leading to low scope for MROs.

Intended Audience
• Distributers & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

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About Market Research Future:

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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

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