Aircraft MRO Market is expected to surpass USD 95 billion, by 2023, growing at a CAGR of more than 5%,

Industry/ Innovation/ Related News:

June, 2017:- Japan Airlines had an agreement worth USD 75 million with GE Aviation, for the overhaul of 18 CF6-80C2 engines that power Boeing 767-300 and 767-300ER planes.
May, 2017:- Rolls-Royce had an agreement with Airbus, to provide maintenance services for the Trent 700 engines that power 7 Airbus A330 planes of Turkish Airlines.
April, 2017:- Air Canada extended their agreement with Lufthansa Technik for eight years, to provide maintenance services for the CFM56 engines.
July, 2016:- Rolls-Royce announced that it would purchase the outstanding 53.1% shares of Industria de Turbo Propulsores SA (ITP), which is owned by SENER Grupo de Ingeniería SA (SENER). The acquisition is expected to strengthen Rolls-Royce’s position in the civil aerospace large engine programmes.

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Major key Players

GE Aviation,
Rolls-Royce,
Pratt & Whitney,
Lufthansa Technik,
Safran Aircraft Engines

Aircraft MRO Market – Regional Analysis
In 2016, North America was the leading region for the global aircraft engine MRO market. A number of the major aircraft manufacturers (such as Boeing) and engine MRO services providers are present in the region, gaining the region a high market share. Moreover, it is expected that approximately 10,000 aircraft would be in service in the region by 2035, which would create an opportunity for the major and prominent companies of the region.
Asia, an emerging region in the long-haul international market, relies heavily on the small and medium widebody aircraft. As a result, a number of such airlines have been entering into service in the recent years such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia. In 2016, Asia-Pacific was the second largest region for the global aircraft engine MRO market and it is projected to witness the highest growth rate, during the forecast period.

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Intended Audience
• Distributers & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

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