Aircraft Component MRO Market Analysis, Scope, Trends and Forecast up to 2023

Aircraft Component MRO Market – Market Overview

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.

Air travel in emerging countries is growing, thus increasing the demand for aircraft component MRO services. Many new aircraft component MRO service centres have been setup in numerous countries in recent years. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft component MRO. Moreover, the growing international trade between countries have increased 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.

Key Players:

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).

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The global aircraft component MRO market is a very dynamic and is expected to witness high growth over the forecast period. The growth of aircraft component MRO market is influenced by rapid fleet expansion, MRO outsourcing, and increased focus of OEM’s on aircraft MRO service. However, environmental hazards, retirement of maintenance-intensive aircraft and development of next-generation aircraft are expected to hinder the growth of the aircraft component market.

AIRCRAFT COMPONENT MRO Market – Competitive Analysis

The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality aircraft component MRO services, in order to survive and succeed in an intensely competitive market environment.

The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services.

The major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario, is fueling the market growth, thereby making it an ideal time to launch new component MRO services and increase the global market share.

Aircraft Component MRO Market – Segments

For the convenience of the report and enhanced understanding; The Aircraft Component MRO Market is segmented in to 4 key dynamics

Segmentation by Application: Commercial Air Transport, Business and General Aviation, Military Aviation.

Segmentation by Aircraft Types: Wide-body Aircraft, Narrow-body Aircraft, Regional Transport Aircraft.

Segmentation by Component: Fuselage, Empennage, Landing Gear, Wings, Engine and Others

Segmentation by Regions: Comprises Geographical regions - Americas (North & Latin)

, Europe, APAC and Middle East & Africa.

Apart from just addressing an aircraft MRO needs, docking systems are also beneficial for aircraft manufacturing, assembly, painting, sanding, cleaning, masking, and spraying.