Press release
Military Aviation Maintenance, Repair, and Overhaul (MRO) Market to Reach at a Highest CAGR of 14.0% by 2028 | Leading Players AAR Corporation, SIA Engineering Company (SIAEC) Ltd., Embraer S.A
Military Aviation Maintenance, Repair, and Overhaul (MRO) Market
Key players in the Global Military Aviation Maintenance, Repair, and Overhaul (MRO) Market are AAR Corporation, SIA Engineering Company (SIAEC) Ltd., Embraer S.A, Air France KLM Group, Raytheon Technologies Corporation, Delta Air Lines Inc., General Dynamics Corporation, MTU Aero Engines AG, Lufthansa Technik AG, Honeywell International Inc., Spirit AeroSystems Inc., Turkish Technic Inc., Bombardier Inc., Rolls-Royce plc, Hong Kong Aircraft Engineering Company (HAECO) Ltd., ZE Aviation, Boeing Company, Airbus SAS, ST Engineering, Magnetic MRO
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In November 2021, GAL, a unit of UAE's state-owned defence conglomerate EDGE and a Abu Dhabi maintenance, repair and overhaul (MRO) service provider said it has secured a contract worth USD 2.9 billion (11 billion dirhams) from the UAE Air Force and Air Defence (AFAD) to provide aircraft MRO under a three-year performance-based logistics (PBL) contract.
In August 2021, The Indian Air Force (IAF) has awarded Lockheed Martin a USD 328.8 million, five-year contract to provide comprehensive maintenance support for its fleet of 12 C-130J Super Hercules tactical airlifter aircraft. Under the Follow on Support-II (FOS-II) contract, an extension of the initial FOS-I contract, the IAF will pay the company about USD 5.5 million per C-130J, per year, in order to obtain a specified level of operational readiness across the fleet.
Asia Pacific dominated the aerospace and defense MRO market and accounted for the largest revenue share during the forecast period. Rapid economic growth, urbanization, launch of new domestic airlines, low-cost labor markets such as India and China coupled with government support in establishing the aerospace clusters are driving the need for aviation services in the region.
Aircraft MRO includes tasks performed to ensure the continuing airworthiness of an aircraft and its parts. MRO service providers perform overhaul, inspection, replacement, defect rectification, and the embodiment of modifications in compliance with airworthiness directives and repair. The study includes MRO of all military aircraft, including helicopters used for combat and non-combat missions.
Expansion of fleet by low-cost airlines, coupled with increasing military spending spurred by the ongoing political conflicts and territorial disputes are some of the factors that have supported long-term expansion for Military Aviation Maintenance, Repair, and Overhaul (MRO) Market.
Due to COVID-19 pandemic has resulted in lower aircraft utilization rates which led to a drop in demand for the commercial aviation MRO, whereas the cargo aviation MRO market had increased considerably owing to enhanced global trade relations.
Table of Contents
Military Aviation Maintenance, Repair, and Overhaul (MRO) Market is segmented into product, application, end use and region.
On the basis of Product
Engine
Airframe
Line
Component
On the basis of Application
Narrow Body Aircraft
Wide Body Aircraft
Regional Aircraft
Others
On the basis of End-User
Commercial Aviation
Business & General Aviation
Military Aviation
Others
On the basis of Region
Asia Pacific
North America
Europe
South America
Middle East & Africa
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Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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