Press release
Aircraft Maintenance, Repair and Operations (MRO) Market Size is Segmented by Organization Outlook, Aircraft Outlook, Aircraft Generation, Type, Region and Competitive Landscape
Aircraft Maintenance, Repair and Operations (MRO) Market
Aircraft Maintenance, Repair and Operations (MRO) can be described as all the steps and procedures required to maintain an aircraft to keep it running smoothly. In addition, there is an increasing focus on sustainability, which has led to parts being repaired rather than replaced, which has contributed to the growth of the MRO market, creating demand for MRO products. The emergence of new technologies and the need to improve competitiveness have also changed the MRO industry, and suppliers in the market now offer a wide range of products to meet different customer needs.
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The growth of the global Aircraft Maintenance, Repair and Operations (MRO) market is mainly driven Rapid urbanization and acceleration of economic growth in developing countries along with increasing business and tourism travel is expected to boost market growth. The market is significantly affected by various external factors such as air traffic volume, global fleet size and aircraft utilization. The increase in people's business and personal air travel is also expected to increase the production of aircraft, which will have a major impact on the market. The development of smart factories and the increase in the use of predictive maintenance such as sensors and the Internet of Things are expected to stimulate growth in the MRO sector.
Proactive maintenance allows production components to be replaced before visible defects occur, reducing downtime and saving costs. But the growing need to comply with various regulations and safety standards is also a challenge for companies, leading to rising costs of MRO products and challenging market growth. In addition, increased competition among suppliers leads to price competition reducing profit margins and slow market growth.
Top players covered in the Aircraft Maintenance, Repair and Operations (MRO) Market report: AAR Corp., Airgas Inc. (Air Liquide SA), Applied Industrial Technologies Inc., MSC Industrial Direct Co. Inc., ERIKS N.V. (SHV Holdings), W. W. Grainger Inc., Rubix Limited, Motion Industries Inc. (Genuine Parts Company), Airbus SE, Hayley Group Limited, Delta Airlines, Inc. (Delta TechOps), Hong Kong Aircraft Engineering Company Limited, KLM U.K. Engineering Limited, Lufthansa Technik, MTU Aero Engines AG, RS Components, WESCO International Inc., Sonepar SA, Raytheon Technologies Corporation (Previously United Technologies Corporation), Singapore Technologies Engineering Ltd, TAP Maintenance & Engineering (TAP Air Portugal), Wurth Group GmbH, Bombardier, Inc., Bedek Aviation Group, The Boeing Company, and Others.
Recent Developments
In January 2023: Applied Industrial Technologies released the fifth edition of its core product catalog for applied maintenance supplies and solutions, which includes more than 47,000 maintenance products specifically selected for maintenance, repair, operation and production (MROP) applications. The catalog features a diverse selection of products from transportation, fasteners, shop, electrical, welding, household, equipment and hoses, paints and chemicals to knives and abrasives, safety and more.
In November 2022: Sanad, a global aerospace and industrial service provider, signed a memorandum of understanding with Indonesian aircraft maintenance company GMF to establish an MRO center in Indonesia.
In January 2023, MSC Industrial Supply Co. acquired Buckeye Industrial Supply Co. and True-Edge Grinding Inc., two companies that specialize in custom tool manufacturing and the distribution of metalworking and maintenance, repair, and operations (MRO) products and services. This acquisition will help MSC Industrial Supply Co. strengthen its position as a prominent multichannel supplier of MRO products and services.
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Scope of the Report:
The Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into various segments such as organization Outlook, Aircraft Outlook, Aircraft Generation, Type and Region:
Based on organization outlook, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Airline/Operator MRO
Independent MRO
Original Equipment Manufacturer (OEM) MRO
Based on Aircraft Outlook, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Narrow-body
Wide-body
Regional Jet
Others
Based on Aircraft Generation, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Old Generation
Mid Generation
New Generation
Based on Application, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Commercial Air Transport
Business and General Aviation
Military Aviation
Based on Service, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Engineering Service
Line Maintenance
Inventory Management
Freight Conversions
Technical Training
Others
Based on Aircraft Division, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Cabin Interior
Airframe
Avionics
Others
Based on MRO Type, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Industrial MRO
Electrical MRO
Facility MRO
Other MRO Types
Based on region, the Aircraft Maintenance, Repair and Operations (MRO) Market is segmented into:
Asia Pacific
Japan
China
India
Australia
South Korea
Vietnam
New Zealand
Philippines
Thailand
Malaysia
Hong Kong
Taiwan
Singapore
Indonesia
Sri Lanka
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
Austria
Finland
Belgium
Turkey
Russia
Poland
Hungary
Czech Republic
Switzerland
Netherlands
Rest of Europe
South America
Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East & Africa
South Africa
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Despite the Strides Taken in Safe Flying, Ever-Present Threat of Plane Crashes Drives Emphasis on Airworthiness & Plane Maintenance: Global Number of Fatalities on Commercial Flights for the Period 2010-2019. The Ever-Present Threat of Air Accidents Reinforces the Importance of MRO. This presents as a great opportunity to enter the MRO market as currently it is in great demand because of the regulations being set-up by the governments. The market growth is fueled by several factors, including but not limited to the growing need to Reduce Operating Costs Drives Growth in MRO Outsourcing Services, the increasing adoption of Aircraft Maintenance, Repair for smooth operations, Low-Cost Carriers (LCCs) Expand MRO Opportunity in Asia-Pacific. These factors have led to the expansion of the market and increased demand for Aircraft Maintenance, Repair and Operations (MRO) solutions.
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