North America Aircraft Engine MRO Market Is Booming Worldwide | General Electric Company, MTU Aero Engines AG, AAR Corp, Honeywell International Inc

The North America 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 North America Aircraft Engine MRO market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the North America Aircraft Engine MRO industry and provides data for making strategies to increase market growth and effectiveness.

The North America aircraft engine MRO market is projected to grow with a CAGR of more than 3% during the forecast period.

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Markets Segmentation:

Top leading Companies Profiled in North America Aircraft Engine MRO Market Report are Ê- Delta Air Lines, Inc., Rolls-Royce plc, Raytheon Technologies Corporation, Safran SA, General Electric Company, MTU Aero Engines AG, AAR Corp, Honeywell International Inc., IAG Aero Group, GKN Aerospace, Lockheed Martin Corporation, StandardAero

News and Updates

Some of the prominent players in the North America aircraft engine MRO market are Delta Air Lines, Inc., Rolls-Royce plc, Raytheon Technologies Corporation, Safran SA, and General Electric Company. Generally, the airlines and MRO service providers sign long term contracts to provide engine MRO services. This allows the companies to increase their customer base in the region and it becomes difficult for new entrants to capture new opportunities in the market. Various airlines and MRO providers are upgrading their facilities to increase their service offerings. For instance, American Airlines announced that the airline plans to invest USD 550 million at its Base Maintenance facility in Tulsa. The investment will include the construction of a new widebody-capable hangar and base support building as well as improvements to the existing infrastructure, including roof replacements, utility and IT upgrades, and ramp repairs. The new 193,000-square-foot hangar can accommodate two wide-body aircraft and up to six narrow-body aircraft, which will replace two existing hangars to accommodate the airlineÕs current aircraft fleet. Such plans of the MRO providers will help them increase their services and will help them further capture new market opportunities.

Market Overview

- North America region has the largest fleet of commercial and military aircraft in the world. The aging fleet of aircraft in the military and commercial sectors is driving the growth of the aircraft engine MRO market. With the introduction of new aircraft in commercial aviation, several new long-term aircraft engine maintenance contracts are signed between the airlines and aircraft engine MRO providers. Such contracts are anticipated to further boost the growth of the aircraft engine MRO market during the forecast period.

- The growth of emission regulations for the airspace by various regulatory bodies, like FAA, IATA, and ICAO is generating the demand for better engine maintenance for older aircraft, as their emissions are higher compared to the newer generation aircraft engine.

- However, with the US 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 2022 in the region.

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)

The United States has the largest fleet in the commercial, military, and general aviation segments. The average age of its commercial aircraft fleet is close to 11 years, while that for military aircraft is over 26 years. Some of the bomber aircraft are operational for over five decades. To handle their aging fleet, airlines, and the US DoD are selecting MRO providers and are signing long-term contracts. For instance, Frontier Airlines selected Lockheed Martin Commercial Engine Solutions (LMCES) to perform engine MRO on CFM56-5 engines for their Airbus A319s and A320ceos. The contract was awarded in March 2016 for a period of eight years i.e., the maintenance operations are expected to run through 2023. Also, in May 2022, StandardAero was awarded a USD 237 million contract by the US Air Force to provide engine MRO services for T-38 trainer jet aircraft. The contract is scheduled to run till 2028. Such long-term contracts are expected to support the growth of the market in the coming years.

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Key Takeaways from North America 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 North America Aircraft Engine MRO market - key driving factors, challenges and hidden opportunities.

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─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 North America Aircraft Engine MRO

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In conclusion, the North America 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 North America 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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North America Aircraft Engine MRO Market Is Booming Worldwide | General Electric Company, MTU Aero Engines AG, AAR Corp, Honeywell International Inc

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