Asia-Pacific Aircraft Engine MRO Market To Witness the Highest Growth Globally in Coming Years 2021 to 2025

Asia-Pacific Aircraft Engine MRO Market Report 2021 – 2025 is a believable source for gaining the market research that will exponentially accelerate your business. SWOT and Porter’s five analysis are also effectively discussed to analyze informative data such as cost, prices, revenue, and end-users. The Report initially provides an overview of the industry that covers definition, applications and technology, post which the report explores into the international players in the market. The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The report also entails the Covid-19 and post-Covid dynamics in the global Asia-Pacific Aircraft Engine MRO market.

The Asia-Pacific aircraft engine MRO market is anticipated to witness a CAGR of over 5% during the forecast period.

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The Top Major Competitive Players are : Asia Pacific Aerospace, Singapore Aero Engine Services Private Limited, Singapore Technologies Engineering Limited, SIA Engineering Company, and Hong Kong Aircraft Engineering Company Limited (HAECO).

Key Market Trends

Increasing Emphasis on Reducing Aviation Emissions

The emissions produced by aircraft engines have an impact on the environment and affect the local air quality and finally cause several problems like the greenhouse effect. Over the past few years, an increasing number of aircraft in the sky led to increasing emissions caused by them. In 2018 alone, aircraft produced 747 million metric tons of carbon dioxide (CO2), which is approximately 11% of the total CO2 emissions from all transport sources. About 80% of the aviation CO2 emissions are from flights traveling over 1,500 km. To tackle the increasing emissions, regulatory bodies, like ICAO and IATA, have adopted a set of targets to address the global challenge of climate change. IATA has targeted to improve the fuel efficiency of aircraft by 1.5% per year, between 2009-2020, and to cap the net aviation CO2 emissions from 2020. It aims to reduce the emissions by 50% by 2050, relative to the 2005 levels.

Regional Analysis:

Singapore to Dominate the Market During the Forecast Period

The favorable government policies and the availability of cheap manual resources have made Singapore a global hub for MRO activities. Singapore hosts a large and diverse ecosystem that caters to engines, components, and avionics for comprehensive nose-to-tail services. Major aerospace leaders such as Rolls Royce plc and Airbus SE have a long-term and significant footprint in Singapore. The high concentration of aerospace industry players means that the domestic market is extensively layered with key support sectors to absorb subcontracting works. Local heavyweights such as SIA Engineering Company and Singapore Technologies Engineering Limited (ST Engineering) continue to expand their operations in the country. ST Engineering has a longstanding relationship with CFM International (CFM) as a licensed service center for its CFM56-5B and -7B engines. On this note, in February 2020, ST Engineering agreed with CFM to provide MRO support for its LEAP-1B engine. Such developments are envisioned to foster the growth prospects of the market in focus in Singapore during the upcoming period.

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