Air Transport MRO Global Market Report 2024 - By Demand, Share, Industry Trends, Drivers, Outlook By 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Air Transport MRO Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $114.1 billion In 2028 At A CAGR Of 6.1%.
The air transport mro market size has grown strongly in recent years. It will grow from $84.68 billion in 2023 to $89.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to economic cycles and market demand, safety and risk mitigation, outsourcing and cost management, technological innovations in mro, regulatory standards.

The air transport mro market size is expected to see strong growth in the next few years. It will grow to $114.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to supply chain resilience, global regulatory changes, sustainable mro practices, market shifts due to covid-19 impact. . Major trends in the forecast period include emphasis on sustainability, regulatory compliance, aging aircraft fleet, increased fleet size, digitalization and automation.

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Air Transport MRO Market Major Segments
The air transport mro market covered in this report is segmented -
1) By Type: Engine, Line, Airframes, Other Types
2) By Service: Heavy Maintenance Inspection, Engine Service Check, Component Maintenance, Line Maintenance, Avionic Standardization, Aircraft Conversions
3) By Aircraft Type: Narrow Body Aircraft, Wide-Body Aircraft, Regional Jet, Turbo Prop, Other Aircraft Types
4) By Application: Civil Air Transport MRO, Military Air Transport MRO

Key Driver - Rising Air Travel Propels Growth In The Air Transport Mro Market
The increasing air travel is expected to boost the growth of the air transport MRO market going forward. Air travel refers to any movement of passengers or cargo by any conveyance that can sustain controlled flight. MRO for air transport is crucial for boosting flight readiness and extending the lifespan of an aircraft's airframe, engines, and other parts, so increased air travel is expected to boost the air transport MRO market. For instance, in April 2022, according to the International Air Transport Association (IATA), a US-based trade association of the global airline industry, the overall demand for air travel increased by 78.7% compared to April 2021 and was somewhat higher than the 76.0% growth in March 2022. It saw a 480.0% increase in international traffic for European carriers. 233.5% more capacity was available, and the load factor increased by 33.7 percentage points to 79.4%. Therefore, increasing air travel is driving the growth of the air transport MRO market.

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Prominent Trend - Technological Advancements In The Air Transport Mro Market
Technological advancement is the key trend gaining popularity in the air transport MRO market. Major companies operating in the air transport MRO market are focusing on developing new technologies. For instance, in May 2022, Jet Support Services, Inc. (JSSI), a US-based provider of aircraft maintenance support and financial services, launched JSSI Maintenance Software. The unique feature of JSSI Maintenance Software is its range of aircraft maintenance tracking and maintenance, repair, and overhaul (MRO) software solutions. Jet Support Services, Inc. (JSSI) is concentrating on integrating and growing these cutting-edge technologies to provide improved value to its clients.

Air Transport MRO Market Players
Major companies operating in the air transport mro market report are AAR Corp., Delta Air Lines Inc., Deutsche Lufthansa AG, John Swire & Sons Limited, Airbus SE, Collins Aerospace, Air France Industries and KLM Engineering & Maintenance, HAECO Group, MTU Aero Engines AG, British Airways, Turkish Technic Inc., General Electric Company, Iberia Líneas Aéreas de España S.A., SIA Engineering Company Limited, Bombardier Inc., Lufthansa Technik AG, Safran SA, Raytheon Technologies Corporation, Singapore Technologies Engineering Ltd., Guangzhou Aircraft Maintenance Engineering Company Limited, StandardAero, Air Works Group, AJW Group, Gama Aviation, Erickson Inc., Hong Kong Aircraft Engineering Company Limited, ST Engineering Aerospace, The Boeing Company, Rolls-Royce Holdings, Honeywell International Inc. .

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the air transport MRO market in 2023. The regions covered in the air transport mro market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Air Transport MRO Market Report Structure
3. Air Transport MRO Market Trends And Strategies
4. Air Transport MRO Market - Macro Economic Scenario
5. Air Transport MRO Market Size And Growth
…..
27. Air Transport MRO Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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