Press release
Million Aircraft Component MRO Market to Undergo Massive Growth at CAGR Of 5.44% By 2023
Nov 2017 Ameco, the Sino-German joint venture repair, maintenance and overhaul (MRO) giant, is seeking new customers in the Middle East for its broad array of maintenance services. In this region, Ameco provides heavy maintenance for Iraqi Airways’ fleet of widebody aircraft. Ameco also provides MRO for Qatar Airways, Etihad Airways, Royal Jordanian Airlines and Saudi Arabian Airlines.
June 2017 AFI KLM E&M and Sabena technics will set up a joint venture specializing in component support for Airbus A320 and all ATR aircraft types. Based out of Singapore’s Seletar aviation cluster, established by the country’s government in 2010, both parties agree that the prospective 50-50 JV will help meet growing demand for MRO services throughout the region.
Nov 2017 Honeywell has signed on Lufthansa Technik as a licensed component repair center and exclusive global asset provider for all Honeywell components and the HGT 1700 APU on Airbus A350 aircraft. As per the agreement, Lufthansa Technik will offer A350 operators around the world an unequaled experience with maintenance, repair and overhaul services for all Honeywell components, including auxiliary power units.
Nov 2017 Nordam and China Airlines have formalized a wide-ranging agreement that will see the two companies open a structural component repair facility that will serve both the carrier and third-party customers in the Asia-Pacific region. The new facility, Nordam Asia Ltd., is slated to open in 2019 in Taipei and will focus on serving the China Airlines fleet, including subsidiaries Tigerair Taiwan and Mandarin Airlines. The U.S. supplier identified the region as a logical spot for a new commercial MRO facility partnering with China Airlines based on the success of their previous association.
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Aircraft Component MRO Market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• GE Aviation
• Honeywell Aerospace
• Lufthansa Technik
• Pratt & Whitney
• Rolls-Royce
• FL Technics
• Delta TechOps
• Barnes Aerospace
• AAR
• Turkish Technic
With the entry of new industry players in aircraft component MRO segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced product types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key players in global aircraft component MRO market are Delta TechOps (U.S.), Lufthansa Technik AG (Germany), Air France Industries KLM Engineering & Maintenance (France), HAECO (Japan). Some of the other key players in the sector are Honeywell International (U.S.), ST Aerospace (Singapore), AAR Corp. (U.S.), Barnes Aerospace (U.S.), FL Technics (Lithuania) and Turkish Technic, Inc. (Turkey).
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Aircraft Component MRO Market - Segmentation
The global aircraft component MRO market has been segmented by its aircraft type, by component, by application and regions.
By Aircraft Type: Wide-body Aircraft, Narrow-body Aircraft, Regional Transport Aircraft
By Component: Fuselage, Empennage, Landing Gear, Wings, Engine and Others
By Application: Commercial Air Transport, Business and General Aviation, Military Aviation
By Region: Asia Pacific, North America, Europe and Rest of World
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