Europe Aircraft Engine MRO Market 2022 SWOT Analysis and Key Business Strategies by Leading Players Lufthansa Technik, Rolls-Royce Holding PLC, Pratt & Whitney

The Europe Aircraft Engine MRO market report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue and forecast 2028. This report also includes the overall and comprehensive study of the Europe Aircraft Engine MRO market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Europe Aircraft Engine MRO industry and provides data for making strategies to increase market growth and effectiveness.

Europe aircraft engine MRO market is expected to register a CAGR of above 4% during the forecast period.

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Markets Segmentation:

Top leading Companies Profiled in Europe Aircraft Engine MRO Market Report are Ê- Lufthansa Technik, Rolls-Royce Holding PLC, Pratt & Whitney (Raytheon Technologies Corporation), General Electric, Safran SA, IAG Aero Group, MTU Aero Engines AG, Honeywell International Inc., AFI KLM E&M, TAP Maintenance and Engineering, Aero Norway AS

News and Updates

Safran S.A, Rolls-Royce Holding PLC, Lufthansa Technik, MTU Aero Engines AG, and TAP Maintenance and Engineering are some of the prominent players in the market. The major engine MRO providers are entering into long-term partnerships or forming joint ventures to grow their business presence and customer base. For instance, Lufthansa Technik formed joint ventures with various engine manufacturers, like Rolls-Royce Holding PLC, General Electric Company, and MTU AERO ENGINES AG, for providing engine MRO operations for customers in the European region. Forming partnerships also ensures that the maintenance for specific components is done with the right expertise by certain players. For instance, in June 2019, Safran Electrical & Power signed a contract with Lufthansa Technik, one of Europe's leading engine MRO providers, to provide electrical harness maintenance for the CFM56 engines powering the Airbus A320 and the Boeing 737 commercial aircraft families. Players are focusing on the utilization of advanced technologies like automation and artificial intelligence in their maintenance units, which help them increase productivity while reducing their maintenance costs, thereby boosting their profits in the long run.

Market Overview

- Airlines in Europe have one of the oldest aircraft fleets in the world. In addition, the aging military aircraft fleet of several countries in Europe is also generating the demand for engine MRO.

- In the military sector, several countries in the region are expanding their aircraft fleets, which is anticipated to further boost the growth of the aircraft engine MRO market during the forecast period.

- However, with Europe being one of the worst-hit regions due to the COVID-19 pandemic, lower aircraft utilization and anticipated reductions in several airline fleets are expected to hamper the growth of the aircraft engine MRO market in the region.

In 2019, the commercial aviation segment held the largest share in the market and is expected to continue its domination during the forecast period. The number of commercial aircraft in the region is higher than that of the military aviation and the average cost of maintaining the larger commercial aviation engines is more than that of the general aviation engines. Due to these factors, the commercial aviation segment held a higher share in the market. Airlines like Austrian Airlines, TAP Air Portugal, British Airways, Air France, Alitalia, Lufthansa, and KLM Royal Dutch Airlines are some of the airlines in the region that have aircraft fleet with an average age of more than 11 years, demanding higher aircraft engine MRO. Several airlines in Europe are adding newer aircraft to their fleets, which will further generate demand for the engine MRO over the next decade. For instance, in November 2019, Nova Airlines AB (Novair) signed a long-term exclusive engine maintenance services contract with Lufthansa Technik for the CFM International LEAP-1A engines of Novair's Airbus A321neo aircraft. Thus becoming the launch customer of Lufthansa Technik's technical services for this new engine type. Such contracts are expected to increase the revenue for the segment during the forecast period.

Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

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Key Takeaways from Europe Aircraft Engine MRO Report
─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Europe Aircraft Engine MRO market - key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance - Europe Aircraft Engine MRO market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Europe Aircraft Engine MRO

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In conclusion, the Europe Aircraft Engine MRO market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the Europe Aircraft Engine MRO Industry business competitors. Our expert research analyst's team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

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