Home Aerospace And Defense Aircraft Maintenance, Repair and Overhaul Market Size, Top Share, Forecast to 2030

Aircraft Maintenance, Repair and Overhaul Market

Aircraft Maintenance, Repair and Overhaul Market Size, Share & Trends Analysis Report By Aircraft Division (Engine, Cabin Interior, Airframe, Avionics, Others), By Service (Engineering Services, Line Maintenance, Inventory Management, Freight Conversions, Technical Training, Others), By Type (Narrow-Body Aircraft, Wide-Body Aircraft, Large Aircraft) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRAD588DR
Study Period 2020-2032 CAGR 46.6%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market North America Fastest Growing Market Europe
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Market Overview

The global aircraft maintenance, repair, and overhaul market size are expected to grow at a CAGR of 46.6% during the forecast period, 2019–2029.

Aircraft maintenance, repair, and overhaul (MRO) is a primary service that deals with rectifying several aviation issues related to navigational devices, engine components, and various other parts. This service is crucial as several airline carriers aim to keep the fleet active for a more extended period, be fuel-efficient, and also increase airworthiness to a higher notch.  The overall market is highly organized as the players are regulated by several local and international governing bodies such as the International Civil Aviation Organization (ICAO) resulting in the quality and efficiency of MRO services.

Market Dynamics

Aviation Sector’s Staggering Growth to Prompt the Market Demand

According to the International Civil Aviation Organization (ICAO), the aviation sector has grown remarkably with cargo and passengers being carried to no less than approximately 49 million kilometers annually. With over 26,000 aircraft services, 1,400 scheduled airlines, 3900 airports, and 173 air navigation service providers, the global aviation sector has established an unprecedented worldwide network, thereby offering an array of opportunities for the aircraft maintenance, repair, and overhaul market.

The increasing migration activities across the globe due to regional & political instability, health reasons, education & employment, and other reasons in several countries resulted in increased air travel, thereby providing an array of opportunities for the aircraft MRO market. According to the United Nations Department of Economic and Social Affairs (UN DESA), the global international migrant's rate reached 244 million in 2015. The spanning population diversity in developed countries is one of the primary reasons for international migration, whereas, in the case of developing countries, it is mostly internal migration.

Regional Analysis

Government’s Focus Toward Modernization of Airspace Industry in North America

North America has witnessed a remarkable growth in the commercial fleet aircraft. Government associations primarily focusing on modernization of the U.S. airspace industry has been effective in fostering the market for aircraft maintenance, repair, and overhaul. The Next Generation Air transportation System or NextGen is a transportation system led by the Federal Aviation Administration (FAA), intending to make air transport safer, predictable, and more efficient. NextGen is setting standards with regards to planning, implementation, and innovation of new airspace technologies and procedures. Moreover, according to the Federal Aviation Administration, the number of aircraft in the commercial fleet is estimated to leap from 7,039 in the year 2016 to approximately 8,270 by 2037, which is an average of 0.8 % growth rate per year. Thus, this growth is expected to provide abundant opportunities for aircraft maintenance, repair, and overhaul market in the region.

“Future Flight Challenge” to Spur the Europe Market Growth

Europe has the presence of countries with a strong aviation base such as the U.K., which broadens the area of application for the aircraft maintenance, repair, and overhaul market. According to the Government of the United Kingdom, the region is a leader in the manufacturing, design, and support of wings, engines, and other advanced systems. Besides, the increasing investments to facilitate innovation by government and key players of the market jointly have led to potential market growth. For instance, the Future Flight Challenge initiative undertaken by the Government of the United Kingdom to engender innovation in the aviation sector has an investment of USD 141.65 million. This investment is aimed at developing demonstrators of new aircrafts such as electric aircraft and drones, new airspace management models, and new approaches to ground support infrastructure.

Presence of Industrially Developed Regions in Asia-Pacific

Asia-Pacific is projected to offer several untapped markets on account of the enormous presence of industrially developing regions such as India, China, South Korea, Indonesia, and others. A great deal of investment by the government and associated institutions have directed the aviation sector in these countries toward the path of innovation and development. According to the Department of Industrial Policy and Promotion (DIPP), the Foreign Direct Investment (FDI) inflows in India’s aviation sector reached approximately USD 2.23 billion between the period 2000–2018.

Growing Focus Toward Infrastructure Development in Latin America 

Latin America offers several growth prospects for the market on account of the proliferation of infrastructure and smart regulations pertaining to the aviation industry. According to the International Air Transport Association (IATA), the passenger growth in Latin America is estimated to twofold by 2034, where the aviation sector’s contribution to regional GDP to observe growth from USD 140 billion to USD 322 billion. Latin America has all the capacity to become a massive market for the aviation sector and associated services because of the emergence of competitive and efficient airlines, favorable demographics, and geography that initiates air travel.  According to the International Air Transport Association (IATA), the region’s unremitting focus on infrastructure development to result in USD 42 billion of unrealized economic benefits by the year 2034. This is expected to offer lucrative opportunities for the aircraft maintenance, repair, and overhaul market in the region.

Spin-Off Technology to Bring Forth Market Progress in the Middle East

The Middle East has the presence of highly active regions in the aviation sector, such as the United Arab Emirates (UAE). The aviation sector in Dubai is known for its spinoff technology, which means the products are directly developed as a result of the aviation activities that influence the economy across several fields, which includes high precision technology. 3D printing in Dubai can be termed as a spinoff technology in the aviation sector.

Report Scope

Report Metric Details
Segmentations
By Aircraft Division
  1. Engine
  2. Cabin Interior
  3. Airframe
  4. Avionics
  5. Others
By Service
  1. Engineering Services
  2. Line Maintenance
  3. Inventory Management
  4. Freight Conversions
  5. Technical Training
  6. Others
By Type
  1. Narrow-Body Aircraft
  2. Wide-Body Aircraft
  3. Large Aircraft
Company Profiles AAR Corporation Singapore Technologies Aerospace Ltd. Delta TechOops Aeroman Mexicana MRO Services Turkish Technic Inc. Lufthansa Technik AG Evergreen Aviation Technologies Corporation United Technologies Corporation SIA Engineering Company Ltd. Sabena Technics Hong Kong Aircraft Engineering Company Ltd.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

Passenger Load to Trigger Cabin Interior Segment’s Growth

The increasing load of passengers demands a broader load space, thereby fostering the cabin interior segment. According to the Federal Aviation Administration, in the year 2016, the domestic load factor increased to approximately 84.7% for commercial air carriers, thereby increasing the scope for the cabin interiors segment. The pressing demand from customers for efficient and quality services from the airlines is accelerating the maintenance segment’s growth. Variants in the onboard facilities such as Wi-Fi connectivity, onboard shopping, and others by different airlines for passenger hospitality have widened the scope of the maintenance segment. The narrow-body aircraft is an airliner with the capacity to board approximately 290-300 passengers, thereby offering several growth opportunities for the market. However, the need for maintenance is high in this type of airline as it boards a large number of passengers.

Market Size By Aircraft Division

Top Key Players

AAR Corporation Singapore Technologies Aerospace Ltd. Delta TechOops Aeroman Mexicana MRO Services Turkish Technic Inc. Lufthansa Technik AG Evergreen Aviation Technologies Corporation United Technologies Corporation SIA Engineering Company Ltd. Sabena Technics Hong Kong Aircraft Engineering Company Ltd. Others

Frequently Asked Questions (FAQs)

What is the growth rate for the Aircraft Maintenance, Repair and Overhaul Market?
Aircraft Maintenance, Repair and Overhaul Market size will grow at approx. CAGR of 46.6% during the forecast period.
Some of the top industry players in Aircraft Maintenance, Repair and Overhaul Market are, AAR Corporation, Singapore Technologies Aerospace Ltd., Delta TechOops, Aeroman, Mexicana MRO Services, Turkish Technic Inc., Lufthansa Technik AG.
North America has been dominating the Aircraft Maintenance, Repair and Overhaul Market, accounting for the largest share of the market.
The Europe region has experienced the highest growth rate in the Aircraft Maintenance, Repair and Overhaul Market.
The global Aircraft Maintenance, Repair and Overhaul Market report is segmented as follows: By Aircraft Division, By Service, By Type


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