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Rising Air Travel Propels Growth In The Air Transport MRO Market Driver: Leading Transformation in the Air Transport MRO Market in 2025
Air Transport MRO Global Market Report 2024
The growth of the air transport MRO (Maintenance, Repair, and Overhaul) market is predicted to be stimulated by the rise in air travel. Any conveyance that can maintain controlled flight for the transportation of passengers or cargo is referred to as air travel. Ensuring flight readiness and prolonging the lifespan of an aircraft's airframe, engines, and other components is essential, hence the growing air travel is foreseen to propel the air transport MRO market. For example, in January 2024, the International Air Transport Association (IATA), a US-based organization representing the global airline industry, revealed that in 2023, overall air travel traffic experienced a 36.9% increase compared to 2022. Moreover, in December 2023, international traffic rose by 24.2% compared to the same month in 2022, and domestic traffic surged by 27.0% from the preceding year. Consequently, the spike in air traffic is a significant factor driving the aircraft ignition system market.
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What is the projected compound annual growth rate (CAGR) of the air transport mro market from 2025 to 2034, and what factors influence it?
The market size for air transport mro has seen significant expansion in recent years. Its growth is projected to increase from $88.11 billion in 2024 to $93.41 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this growth during the historical period include economic cycles, market demand, safety and risk mitigation measures, as well as outsourcing and cost management strategies. Technological advancements in MRO and regulatory standards have also played a pivotal role in driving this growth.
The size of the air transport mro market is anticipated to witness substantial growth in the coming years. It is forecasted to reach $117.52 billion by 2029, with a compound annual growth rate (CAGR) of 5.9%. The projected growth during the forecasted period can be traced back to factors such as the resilience of the supply chain, modifications in global regulations, the adoption of sustainable MRO practices, and shifts in the market caused by the impact of COVID-19. Key trends during this forecasted period include a focus on sustainability, regulatory adherence, the aging of the aircraft fleet, an escalation in fleet size, and the rise of digitalization and automation.
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How are the latest trends influencing the growth of the air transport mro market?
The main trend gaining traction in the air transport MRO market revolves around technological innovation. Major industry players are channeling their efforts into creating new technologies within this space. For example, in May 2022, US-based aircraft maintenance support and financial services provider Jet Support Services, Inc. (JSSI), introduced the JSSI Maintenance Software. This unique product offers a wide range of aircraft maintenance tracking and MRO software solutions. Jet Support Services, Inc. (JSSI) aims to expand and incorporate these advanced technologies in order to deliver enhanced value to their clientele.
What are the major segments of the air transport mro market and their role in driving growth?
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
Subsegments:
1) By Engine: Turbine Engines, Piston Engines
2) By Line: Routine Maintenance, Pre-Flight Checks, A-checks
3) By Airframes: Structure Maintenance, Interior Refurbishment, System Upgrades
4) By Other Types: Avionics Maintenance, Component Overhaul, Paint And Coating Services
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Which regions are key players in the growth of the air transport mro market?
Asia-Pacific was the largest region in the air transport MRO market in 2024. The regions covered in the air transport 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 air transport mro market?
Major companies operating in the air transport mro market include 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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What Is Covered In The Air Transport MRO Global Market Report?
• Market Size Forecast: Examine the air transport mro market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the air transport mro market for a structured understanding.
• Key Players Overview: Analyze major players in the air transport mro market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the air transport mro market.
• Segment Contributions: Evaluate how different segments drive overall growth in the air transport mro market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the air transport mro market.
• Industry Challenges: Identify potential risks and obstacles affecting the air transport mro market.
• Competitive Landscape: Review strategic developments in the air transport mro market, including expansions, agreements, and new product launches.
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