Press release
Aircraft Component MRO market 2018 Key Players: Delta TechOps, Lufthansa Technik AG, HAECO ,Honeywell International, ST Aerospace
Description:
Aircraft Component MRO -Global Market Status and Trend Report 2018-2021 offers a comprehensive analysis on Aircraft Component MRO industry, standing on the readers’ perspective, delivering detailed market data and penetrating insights. No matter the client is industry insider, potential entrant or investor, the report will provides useful data and information.
Aircraft Component MRO services are essential in ensuring smooth operation of an aircraft. The rapid aircraft fleet expansion along with the increased focus of OEMs on providing aircraft MRO, are expected to result in an increase in aircraft MRO expenses and as well as it is expected to add to the growth of the market. Moreover, growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane components to ensure efficient performance and safe air travel.
The market is driven by various factors such as increased focus of OEMs on aircraft MRO service and rapid aircraft fleet expansion. Also, the increased need for proper maintenance of engines & components, is driving the growth of the aircraft component MRO market.
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The leading market players in the global Aircraft Component MRO market primarily include Delta TechOps (U.S.), Lufthansa Technik AG (Germany) , Air France Industries KLM Engineering & Maintenance (France), HAECO (Japan), Honeywell International (U.S.), ST Aerospace (Singapore), AAR Corp. (U.S.), Barnes Aerospace (U.S.), FL Technics (Lithuania) and Turkish Technic, Inc. (Turkey).
In 2016, the Aircraft MRO Market was valued at USD 15,021.4 million and is projected to grow at a CAGR of 5.44 % during the forecast period.
Industry/ Innovation/ Related News:
July 2017- Avianca Holdings Group and Lufthansa Technik AG, signed several MRO contracts. Under the agreement, Lufthansa Technik would cover the total component support (TCS) for the Boeing 787 fleet of Avianca.
June 2017- AAR signed a component support agreement with Wataniya Airways. This agreement is expected to help the airline in enchancing the services and operational efficiencies.
July 2017:- Lufthansa Technik Philippines (LTP) planned to expand its operations by building a second MRO base at another major airport in the country.
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Regional Analysis
In 2016, North America was the second-largest region for the global aircraft component MRO market. A number of the major MRO service providers such as Airbus and Honeywell, are present in the region, resulting in a high market share of the region. 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.
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