Air Transport MRO Market to Record an Exponential CAGR by 2020
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The basic services provided by Air Transport MRO include – Maintenance and disassembly of heavy parts, periodic checking and repairing of engine, maintaining and enhancing efficiency of avionics, conversion of passenger aircraft into fighter aircraft and overall maintenance of the fleet. MRO is the major expenditure by any airline company other than purchasing of the aircraft. Huge investment associated with MRO which are made mandatory by international Aviation authorities can be substantially utilized through proper MRO plan. It also provide opportunity for serviceable and reliable value retention.
The forces that drive global air transport MRO market are – continuous focus on cost reduction through maintenance, endless concern from airframe OEM’s, introduction of new generation maintenance less aircrafts, Globalization and outsourcing of MRO market. There are some other factors that affect Air Transport MRO – Demand & supply portfolio, Research & development, entry barriers posed by leading players, Technology absolution due to continuous launching of new products, undeveloped automated software vendor market and low margins. North America and Western Europe has matured market while India, China and Middle East are growing market with more future opportunities. Most of the Air Transport MRO’s and OEM’s are located in North America.
The global Air Transport MRO Market is segmented on the basis of Type, Services and Geography. The Air Transport MRO by type include Engine, Line, Airframes and Components. On the basis of Service, market can be segmented into Heavy Maintenance inspection, Engine service check, and Component maintenance, Line Maintenance, Avionic Standardization and Retro Aircraft Conversions. The market can be segmented on the basis of Geographic target market includes-North America, Latin America, Asia Pacific, Western Europe, Eastern Europe and Middle East & Africa.
The Air Traffic MRO market is grown and governed by continuous technological innovations and collaborations. Automated software based MRO, RFID based Airframe OEM’s Inventory support, MRO Cost & Performance Benchmarking, MRO Information Technology (IT) Assessment, LEAN Continuous Process Improvement, MRO Strategic Sourcing Support and Integrated component support & replacement. Due to introduction of Low maintenance Aircrafts the concept of automated maintenance and reporting system by OEM’s is on global trend.
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Some of the Top players of Air Transport MRO market are ST Aerospac (Singapore), Lufthansa Technik (Germany), Timco Aviation Services (U.S.), Delta TechOps (U.S.), Mubadala Aerospace (U.A.E), Prattand Whitney (Canada), Rockwell Collins (U.S.), GE Aviation (U.S.), HEICO (U.S.), IAI (Spain) and Iberia Maintenance(Israel).Most of the companies for Aviation MRO are located in U.S. and Europe. Asian market has seen tremendous growth due to Development of Air transport Infrastructure activities.The MRO market in terms of Air Transport is growing with a pace of growth in Aviation sector. The Air Transport MRO market need to develop more sophisticated and automated mechanisms in order to gain sustainable economic advantages to third parties as well as owner Aviation Company. The better MRO facilities of Aviation Companywill result in better Service retention by the company. The future of MRO in Air transport is continuously justifiable with development of more end customer centric approach towards Air transport.
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