Press release
Global Aviation MRO Market to Reach $108.17 Billion by 2029, Growing at 7% CAGR
Aviation MRO Market Size
The aviation MRO market's expansion is anticipated to be fueled by the growing popularity of air travel. Aviation MRO offers essential maintenance and repairs services for aircraft, ensuring flights remain airworthy and suitable for travel at all times. This is a critical service, particularly given the significance of air travel as the most commonly chosen mode of transportation for international journeys. For example, data from the International Air Transport Association in April 2022 revealed that demand for air travel had escalated by 78.7% when compared to the same month in 2021. A Canada-based international trade union of global airlines also provided this data. In addition, projections from the association predict passenger numbers will surge to 7.8 billion by 2036. Consequently, the rising trend of air travel is propelling the growth of the aviation MRO market.
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What is the projected compound annual growth rate (CAGR) of the aviation mro market from 2025 to 2034, and what factors influence it?
In recent times, the aviation MRO market has experienced significant growth. It is projected to rise from $77.38 billion in 2024, reaching $82.79 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%. The increase seen in the past can be attributed to a rise in aircraft fleet, the maintenance of older aircraft, trends in outsourcing, a greater emphasis on safety and dependability, and an overall increase in global air traffic.
Expectations for the aviation MRO market size predict robust expansion in the coming years. With a compound annual growth rate (CAGR) of 6.9%, the market is set to reach a valuation of $108.17 billion by 2029. Several factors contribute to this projected growth, including fleet expansion and upgrade, data-informed maintenance, increased aviation activities in emerging economies, changes in regulations, and adherence to these norms as well as a shift towards subcontracted MRO services. The period is also expected to witness several market trends like the emergence and competitive rivalry among new players, a focus on eco-friendliness, embracement of predictive maintenance, outsourcing tendencies, compliance with safety and regulatory standards, and progress in airplane technology.
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How are the latest trends influencing the growth of the aviation mro market?
Leading businesses in the aviation MRO market are focusing on the advancement of aviation software, with the aim to increase operational efficiency, lower maintenance expenses, and enhance the safety and trustworthiness of the aircraft. Such software is designed to radically change the landscape of Maintenance, Repair, and Overhaul (MRO) operations through the incorporation of cutting-edge technologies like artificial intelligence (AI) for optimizing processes and improving performance. For example, Ramco Systems Ltd, a tech company based in India, introduced Aviation Software 6.0 in September 2024. This software, designed to revolutionize Maintenance and Engineering (M&E) and MRO operations, leverages AI to provide insightful data and automation. It offers a bespoke engine MRO module and 'Anywhere Apps' that can be accessed from the cloud for remote management, which increases accessibility and boosts the organization's adaptability.
What are the major segments of the aviation mro market and their role in driving growth?
The aviation MRO market covered in this report is segmented -
1) By Service Type: Engine Overhaul, Airframe Maintenance, Line Maintenance, Modification, Other Service Types
2) By Aircraft Type: Narrow Body, Wide Body, Regional Jet, Other Aircraft Types
3) By End User: Original Equipment Manufacturer (OEM), Aircraft Operator, Other End Users
Subsegments:
1) By Engine Overhaul: Complete Engine Overhaul, Engine Inspection And Repair, Engine Component Repair
2) By Airframe Maintenance: Scheduled Maintenance, Structural Repair And Modifications, Painting And Coating Services
3) By Line Maintenance: Routine Checks And Inspections, A-Checks And B-Checks, Component Replacement And Repairs
4) By Modification: Avionics Upgrades, Cabin Modifications, Performance Enhancements
5) By Other Service Types: Component Maintenance And Repair, Logistics And Supply Chain Management, Technical Training And Support
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Which regions are key players in the growth of the aviation mro market?
North America was the largest region in the aviation MRO market in 2024. The regions covered in the aviation MRO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the aviation mro market?
Major companies operating in the aviation MRO market include Delta Airlines Inc., AAR Corp., Hong Kong Aircraft Engineering Company Limited, Airbus SE, Singapore Technologies Engineering Limited, KLM UK Engineering Limited, Lufthansa Technik AG, MTU Aero Engines AG, Raytheon Technologies Corporation, SIA Engineering Company Limited, TAP Maintenance & Engineering, SR Technics AG, British Airways Ltd., Air-France Industries KLM Engineering & Maintenance Group, Bombardier Inc., GE Aviation Inc., L3Harris Technologies Inc., Singapore Technologies Aerospace, AJW Group, Ameco Beijing, JAL Engineering, AFI KLM Engineering & Maintenance, Erickson Aircraft Services, Jet Aviation, StandardAero, Air Works Group, Gama Aviation, International Air Transport, BAE Systems, Collins Aerospace, Honeywell Aerospace, Pratt & Whitney
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What Is Covered In The Aviation MRO Global Market Report?
• Market Size Forecast: Examine the aviation mro market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the aviation mro market for a structured understanding.
• Key Players Overview: Analyze major players in the aviation mro market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aviation mro market.
• Segment Contributions: Evaluate how different segments drive overall growth in the aviation mro market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aviation mro market.
• Industry Challenges: Identify potential risks and obstacles affecting the aviation mro market.
• Competitive Landscape: Review strategic developments in the aviation mro market, including expansions, agreements, and new product launches.
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