Aircraft Line Maintenance Market 2018 by Global Key Leaders: Delta TechOps, Lufthansa Technik, Monarch Aircraft Engineering, SIA Engineering Company, SR Technics, British Airways Engineering
Line maintenance MRO entails full technical handling such as transit, pre-flight checks, daily checks, and weekly checks. Through line maintenance, the firms provide assistance in fuel checks, headset maintenance and repair, and on call handling. Growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane to ensure efficient performance and safe air travel.
As of 2016, there were more than 22,000 active commercial wide body and narrow body aircraft across the globe. These existing commercial fleets are expected to be replaced by more than 40,000 new aircraft, over the next 20 years, and the global fleet is likely to reach 45,000 aircraft by 2036. Moreover, the high demand for air travel in the emerging regions, such as Asia, Latin America, and the Middle East, leads to an increase in the number of aircraft in these regions. As a result, approximately 22,000 commercial aircraft are expected to be delivered to these regions in the next 20 years. On the other hand, it is expected that over 15,000 commercial aircraft would be delivered in developed regions such as North America and Europe, by 2036.
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Moreover, the global military aircraft fleet, as of 2016, was over 53,000, with the US having the largest share (26%) of the military planes, followed by Russia (7%), China (6%), and India (4%). With the increase in defence budgets in a number of countries, there have been high development and procurement of military aircraft, in the recent years.
Concurrently, outsourcing of Aircraft Line Maintenance MRO Market to third-party companies, is one of the trending opportunities for the airline companies so as to reduce their aircraft MRO expenses, with more than 10-20% of saving. For example, in 2013, 65% of aircraft MRO was outsourced by airlines, across the globe. As a result, there has been an increased adoption of MRO outsourcing, of late, due to the growing awareness of its benefits, such as low labour rates and the availability of adequate spare parts.
Some of the key players in the Global Aircraft Line Maintenance Market are Delta TechOps, Lufthansa Technik, Monarch Aircraft Engineering, SIA Engineering Company, SR Technics, British Airways Engineering, Hong Long Aircraft Engineering, TAP Maintenance & Engineering, and Turkish Technic.
The global Aircraft Line Maintenance Market is expected to grow at a CAGR of around 5.5% during 2016-2021. The key factors driving the growth are growing initiatives towards aircraft safety, increase in flights hours, increased demand for aircraft, and usage of best in class technologies in aircraft.
Industry/ Innovation/ Related News:
October, 2017:- Monarch Aircraft Engineering Limited (MAEL) signed a contract with the China Airlines to carry out line maintenance on its aircraft.
August, 2017:- FEAM Maintenance announced its agreement with the Emirates airline to provide the full handling line maintenance services for the Boeing 777 passenger and freighter aircraft, at the Chicago O'Hare International Airport.
October, 2016 - SR Technics signed several maintenance agreements with easyJet, a British airline, thereby extending its partnership. Under the contract, the company would provide line maintenance services to the aircraft fleet of easyJet, at its line and light base maintenance stations in the UK and Switzerland.
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Asia had the largest share of the global aircraft line maintenance MRO market in 2016. It is an emerging region in the long-haul international market and it relies heavily on the small and medium wide-body aircraft. As a result, a number of such airlines have been entering into service, recently such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia. Asia Pacific is home to major MRO service providers such as HAECO and SIA Engineering Company, and is projected to witness the highest growth rate, during the forecast period. Over the years, with the increasing incomes, there has been a high demand for air travel in the region, which stimulated larger developments of airplanes. It is expected that by 2035, more than 16,000 aircraft would be delivered in the region. Moreover, due to the low labour rates, North American airlines outsource 60% of their heavy maintenance and airframe MRO, to Asia, where it is a major source of income. In the recent years, there have been some major developments in the market.
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