Press release
Aviation Industry Witnesses Pioneering Satellite-Based Aircraft Maintenance Tracking Technology Trend: A Crucial Influence on the Aircraft Maintenance Market's Transformation in 2025
Aircraft Maintenance Market
The growth of the aircraft maintenance market is projected to be fueled by a surge in air passenger numbers. Air passengers, essentially individuals or businesses primarily engaged in people's air transportation on a nationwide scale, contribute significantly to the necessity for regular aircraft maintenance. The safety of all individuals aboard the aircraft, especially passengers, is the main aim of this upkeep. As an illustration, data from Eurostat, a statistical agency based in Luxembourg for the European Union, recorded a total of 198 million air passengers transported throughout the EU in the initial three months of 2024. This figure marked an 11.5% increase compared to the corresponding period in 2023. Consequently, the escalating numbers of air passengers are propelling the aircraft maintenance market's expansion.
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What is the projected compound annual growth rate (CAGR) of the aircraft maintenance market from 2025 to 2034, and what factors influence it?
In recent times, there has been substantial growth in the aircraft maintenance market. The size of this market will increase from $46.13 billion in 2024 to an estimated $48.46 billion in 2025, experiencing a 5.1% compound annual growth rate (CAGR). Several factors have contributed to the growth witnessed in the previous period, such as prolonging the lifecycle of aircraft, a greater emphasis on safety, the outsourcing of maintenance services, a shift towards predictive maintenance, and the surge in commercial aviation.
It is anticipated that the aircraft maintenance market will experience robust expansion over the coming years, with projections indicating a surge to $59.43 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 5.2%. The anticipated growth during the forecast period can be linked to several factors, such as fleet extension, modifications in regulations, a shift towards predictive maintenance, the proliferation of low-cost airlines, as well as prevailing outsourcing trends. Key trends projected for the forecast period consist of the incorporation of predictive maintenance practices, the application of state-of-the-art technologies, emphasis on cost effectiveness, transitioning to digitalised records, and the outsourcing of aircraft maintenance services.
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How are the latest trends influencing the growth of the aircraft maintenance market?
Advancements in technology have become an influential trend in the aircraft maintenance market. Leading companies in this market are leveraging these advancements to solidify their market position. For example, Cirium, a UK-based firm that offers data and analytical services to the aviation and travel sectors, made headlines in November 2022 with the introduction of the first phase of satellite-based aircraft maintenance tracking - an unprecedented feature in the aviation industry. This technology assists in pinpointing aircraft shifts and crafting tactics for the allocation of maintenance and replacement parts budgets by technicians or owners. By observing each ground event for a dedicated aircraft, it allows developers to ascertain if an airline's aircraft has undergone cabin upgrades, received extra branding, is under maintenance, or has been reintroduced to service. The Ascend Profiles User Interface, another notable component, presents an overview of aircraft intelligence for airline and lessor profiles, providing quick understanding of aircraft types, airport locations, Original Equipment Manufacturers (OEMs), Maintenance, Repair, and Overhaul (MRO) providers, amongst others, through a feature named 'Ground Events'.
What are the major segments of the aircraft maintenance market and their role in driving growth?
The aircraft maintenance market covered in this report is segmented -
1) By Service Type: Engine Overhaul, Line Maintenance, Modification, Components, APU
2) By Aircraft Type: Narrow-Body, Wide-Body
3) By Organization Type: Independent MRO, Original Equipment Manufacture MRO, Other Organization Types
4) By End-User: Commercial Aircraft, Military Aircraft
Subsegments:
1) By Engine Overhaul: Turbine Engine Overhaul, Piston Engine Overhaul
2) By Line Maintenance: Pre-Flight Inspections, Routine Maintenance, Troubleshooting
3) By Modification: Avionics Upgrade, Cabin Reconfiguration, Structural Modifications
4) By Components: Landing Gear Maintenance, Hydraulic System Maintenance, Electrical System Maintenance
5) By Auxiliary Power Unit (APU): APU Repair And Overhaul, APU Testing And Maintenance
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Which regions are key players in the growth of the aircraft maintenance market?
Asia-Pacific was the largest region in the aircraft maintenance market in 2024. The regions covered in the aircraft maintenance 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 aircraft maintenance market?
Major companies operating in the aircraft maintenance market include General Electric Aerospace, Lufthansa Technik AG, AAR Corp., Delta TechOps, Singapore Technologies Engineering Ltd, Rolls-Royce Limited, MTU Maintenance Hannover GmbH, Hong Kong Aircraft Engineering Co. Ltd., Aviation Technical Services Inc., Boeing Company, Bombardier Inc., British Airways Engineering, SIA Engineering Company, Safran Aircraft Engines, Pratt & Whitney, Honeywell International, GMF AeroAsia, Airbus SE, Air France KLM Engineering & Maintenance, Raytheon Technologies Corporation, TAP Maintenance & Engineering, Air India Engineering Services Limited, Emirates Engineering, StandardAero, Avia Solutions Group Public Limited Company, Flightstar Aircraft Services, Jet Aviation, Turkish Technic, Mexicana Aerospace
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What Is Covered In The Aircraft Maintenance Global Market Report?
• Market Size Forecast: Examine the aircraft maintenance market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the aircraft maintenance market for a structured understanding.
• Key Players Overview: Analyze major players in the aircraft maintenance market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aircraft maintenance market.
• Segment Contributions: Evaluate how different segments drive overall growth in the aircraft maintenance market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aircraft maintenance market.
• Industry Challenges: Identify potential risks and obstacles affecting the aircraft maintenance market.
• Competitive Landscape: Review strategic developments in the aircraft maintenance market, including expansions, agreements, and new product launches.
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