What's driving the Aerospace MRO Market Size? HAECO, ST Engineering, AAR Corp., Lufthansa Technik, Evergreen Aviation Technologies Corp., MTU Aero Engine, GE Aviation, Bombardier Inc., United Technologies Corporation

Worldwide Aerospace MRO Market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Global Aerospace MRO Market is valued approximately at USD XXX billion in 2018 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2019-2026. Aerospace MRO refers to overhaul, inspection, repair, or modification of an aircraft or its component.

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While, increasing preference of low-cost carriers with wide airline network is providing a positive outlook for the industry growth as with the air traffic increasing due to low cost flights, the utilization of aircrafts increases which further increases the need for maintenance and repair of the aircraft. As per world bank organization, the passengers carried through air across the world amounted to 3.7 billion in 2016 which increased to 3.9 billion in 2017 and further to 4.23 billion in 2018.

OEMs or aerospace Engineering Service Providers (ESPs) are appointed to perform these tasks. These ESPs are closely monitored with the help of Service Level Agreement (SLA), to ensure high-level of proficiency. Further, continuous requirement for refurbishment & maintenance of aircraft for optimum performance and compliance to stringent government regulations has led the adoption of Aerospace MRO across the forecast period. Also, the introduction of efficient lean manufacturing techniques for making aircraft along with the availability of multiple aircraft at varied price range is augmenting the market growth.

Further, The International Air Transport Association (IATA) projected through these statistics in air transport that passenger numbers could double to 8.2 billion in 2037. However, higher costs associated with aircraft maintenance, repair, and overhaul operations may limit the market growth. Although, Incorporation of IoT systems, smart sensors, non-destructive inspection technologies, and RFID tagging present an opportunistic market for Aerospace MRO during the forecast period.

The regional analysis of global Aerospace MRO market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the technological advancements in the region along with the presence of key aircraft manufacturers such as Boeing Company in USA and Bombardier in Canada. Increasing orders from these manufacturers drives the market. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
Factors such as increasing population along with increasing spending power has increased the preference of airways among the people leading to a growing Aerospace MRO market. Also, with the growing military modernization programs which involves increased procurement of advanced fighter jets and unmanned air vehicles would create lucrative growth prospects for the Aerospace MRO market across Asia-Pacific region.

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Major market player included in this report are:
o HAECO
o ST Engineering
o AAR Corp.
o Lufthansa Technik
o Evergreen Aviation Technologies Corp.
o MTU Aero Engine
o Air France Industries and KLM Engineering & Maintenance (AFI KLM E&M )
o GE Aviation
o Bombardier Inc.
o United Technologies Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Segment:
o Commercial Aircraft
o Military Aircraft

By MRO Type:
o Airframe
o Line
o Component
o Engine

By Region:
o North America
o U.S.
o Canada
o Europe
o UK
o Germany
o Asia Pacific
o China
o India
o Japan
o Latin America
o Brazil
o Mexico
o Rest of the World

Furthermore, years considered for the study are as follows:
o Historical year - 2016, 2017
o Base year - 2018
o Forecast period - 2019 to 2026

Target Audience of the Global Aerospace MRO Market in Market Study:
o Key Consulting Companies & Advisors
o Large, medium-sized, and small enterprises
o Venture capitalists
o Value-Added Resellers (VARs)
o Third-party knowledge providers
o Investment bankers
o Investor

Table of Content:

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Aerospace MRO Market, by Region, 2017-2026 (USD Billion)
1.2.2. Aerospace MRO Market, by Type, 2017-2026 (USD Billion)
1.2.3. Aerospace MRO Market, by Application, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Aerospace MRO Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Aerospace MRO Market Dynamics
3.1. Aerospace MRO Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Aerospace MRO Market: Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants

Related Report:
Global Aerospace MRO Market Size, Status and Forecast 2019-2025

Air travel in emerging countries is growing, thus increasing the demand for aircraft MRO services. Many new MRO service centers have been setup in numerous countries in recently. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft MRO. Moreover, the growing international trade between countries have increased frequencies of cargo planes. Thus, it is essential to conduct timely checks and repairs on airplanes to ensure efficient performance and safe air travel. The market is driven by various factors such as increased focus of OEMs on aircraft MRO service and rapid aircraft fleet expansion.

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