Aircraft Engine MRO Market Estimated To Account For A Higher Value By 2023; With a Whooping CAGR; Asserts MRFR

Market Highlights
Global Aircraft Engine MRO Market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including

GE Aviation (U.S.),
Rolls-Royce (U.K.),
Pratt & Whitney (U.S.),
Lufthansa Technik (Germany),
Safran Aircraft Engines (Paris),
SIA Engineering Company (Singapore),
Air France Industries KLM Engineering & Maintenance (France),
MTU Aero Engines (Germany),
ST Aerospace (Singapore)
Delta TechOps (U.S.).

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Industry/ Innovation/ Related News:

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.

July 2016- Lufthansa Technik became a member of the Pratt & Whitney’s Geared Turbofan (GTF) engine MRO network.
July 2016:- HNA Aviation, a China-based company, purchased 80% shares of SR Technics. The remaining 20% shares would be retained by Mubadala, a shareholder of the company since 2006.

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.

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