Europe Aircraft MRO Market 2022 Precise Outlook- Airbus SE, Rolls-Royce Holding PLC, TAP Maintenance & Engineering, Lufthansa Technik AG

Market Insights Reports has added new statistical data to its repository titled as, Europe Aircraft MRO Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Europe Aircraft MRO market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The Europe aircraft MRO market is projected to grow with a CAGR of more than 4% during the forecast period.

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Top Key Players in the Europe Aircraft MRO Market are Airbus SE, Rolls-Royce Holding PLC, TAP Maintenance & Engineering, Lufthansa Technik AG, BAE Systems PLC, Safran SA, Kongsberg Gruppen ASA, Rostec, Bombardier Inc., StandardAero, Sabena technics S.A., MTU Aero Engines AG, Comlux, and others. 

Industry News and Update:

In 2019, Airbus introduced Drone and Augmented Reality inspections that have been jointly developed by Airbus with military service for inspections of Airbus-built A400M aircraft. The new technology provides MRO operators with an end-to-end digital solution that facilitates the performance of tasks while guaranteeing quality and adherence to airworthiness standards. Also, new companies are collaborating to integrate the technology into the MRO supply chain.

In June 2019, KLM Engineering & Maintenance and Royal Netherlands Aerospace Centre (NLR) launched a joint venture, NUVEON. The company plans to integrate AR technology throughout the MRO chain to improve everyday performance in maintenance. The introduction of such advanced technology by the MRO providers is anticipated to help them increase their customer base as well as their presence in the region.

Key Market Trends:

Engine MRO Segment is Expected to Witness Highest CAGR During the Forecast Period

Engine MRO is an extremely important part of MRO and the most expensive one. The increasing complexity of the engine parts and the increased number of military aircraft crashes, due to engine failures, have made the militaries to focus on frequent engine maintenance and periodic checks. The engine manufacturers like Safran, Rolls Royce, and MTU Aero Engines among others are some of the major engine MRO providers in the region and support commercial, military, and general aviation customers. Also, the engine MRO providers are expanding their facilities to increase their capacity and efficiencies for customers. For instance, Rolls-Royce is expanding its network of engine overhaul services to support the fleet of large aero engines. Rolls-Royce is currently investing in overhaul facilities in Bristol and Inchinnan to increase their capacity to undertake overhauls of Trent 700 engines. The growth in the network of aircraft engine MRO providers in the region to expand their overhaul services is anticipated to propel the growth of this segment in the coming years.

United Kingdom is Expected to Witness Significant Growth in the Coming Years

The United Kingdom has one of the largest aircraft fleets in terms of commercial aircraft, military aircraft, and general aviation aircraft. The commercial aircraft fleet of major airlines like Jet2, British Airways, Eastern Airways, and Loganair have an age of 13.5 years, 13.6 years, 18 years, and 23.4 years, respectively. The aging aircraft fleet in the country is generating demand for new aircraft maintenance contracts. For instance, in February 2020, BA CityFlyer signed an agreement with MTU Maintenance to extend its CF34-8E and -10E MRO contract. Besides investing resources to modernize its fleet, the UK MoD is trying to enhance the lives of its current aerial assets. In March 2018, the UK Army Air Corps awarded a contract to Vector Aerospace, in order to provide maintenance support to 26 of its Gazelle AH Mk1 helicopters, with the execution of the contract planned for April 2018-June 2022. Similarly, many joint ventures and partnerships were formed by the government to support and maintain F-35 aircraft. Such developments are envisioned to drive the UK military aviation MRO market during the forecast period.

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This Europe Aircraft MRO Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2025

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Europe Aircraft MRO market:

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