Global Air Transport MRO Market Revenue to Reach US$ 101,941.2 Million by 2026 End

ALBANY, USA, 2018-Apr-20 — /EPR Network/ —A new research report titled, “Air Transportation MRO Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the report, the global air transportation MRO market is likely to grow at a CAGR of over 4.2 % during the assessment period 2017-2026, and reach a valuation of US$ 101,941.2 Mn.

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Maintenance, Repair, and Operation (MRO) plays an important role in the airline industry. MRO has become one of the major expenditure by the airline company as international aviation authorities across the globe has made MRO mandatory. One of the biggest driving factors in the air transport MRO market is increasing focus on cost reduction through proper maintenance. However, OEMs are also focusing on aftermarket services which is proving to be successful, thus hampering independent MRO companies, especially small businesses.

Engine to Witness Steady Growth during 2017-2026

An engine is expected to account for nearly half of the revenue share by 2017 end. Engine is projected to reach close to US$ 42,800 million revenue towards the end of 2026. Engine being an important part of the aircraft, maintenance, periodic checking, and repairing of engine is done on the large scale. Hence, engine is responsible for majority of MRO market’s value. Moreover, there has been an increase in the number of joint ventures between OEM and MRO along with the focus on the next-generation engine. Also as the aircraft gets older, more value is transferred to its engine, hence more focus is given to the maintenance and repair of aircraft engine.

Narrowbody Aircraft to Gain Maximum Traction in the Global Air Transport MRO Market

Compared to various types of aircrafts, narrowbody aircraft is likely to gain maximum traction. By the end of 2026, the narrowbody aircraft is estimated to surpass US$ 51,900 million revenue. Narrowbody aircrafts are replacing existing aircrafts, hence, maintenance industry is providing support to new single-aisle jets by appointing qualified workforce to handle the maintenance service and provide necessary support. However, high cost of repair, retrofit of old aircraft with the upgraded system are some of the factors restricting the growth of narrowbody aircraft MRO. The trend of outsourcing line maintenance to the third party MRO service providers is also emerging.

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Global Air Transportation MRO Market: Dynamics

Growth of the global air transport MRO market is mainly bound to various macro-economic and micro-economic features. The report reveals that the global air transport MRO market is expected to register a moderate growth due to low investment in the aviation industry globally. As various developing are witnessing slow economic growth, investment in the aviation industry continues to remain low. However, demand for the repair, operations and maintenance is expected to remain high in the aviation industry due to growing need to enhance operability and efficiency of the aircrafts. Growing requirement for disassembling various parts of the aircraft, checking and repair of the various aircraft components is further expected to contribute towards growth of the global air transport MRO market.

While maintenance, operability and repair of the aircrafts continue to remain a major concern, the manufacturers in the aviation industry are focusing on integrating innovative solutions. Adoption of the innovative solutions such as blockchain technology enables the end users to track the activities related to maintenance and repair. Moreover, manufacturers are further integrating the blockchain technology as it allows traceability, resilience, disintermediation of the supply chain, and organized integration. Growing need for management of the power distribution system has further led to increasing adoption of the blockchain technology. Manufacturers are focusing on developing and incorporating leading technological solutions, which is expected to impact growth of the global air transportation MRO market positively.

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Demand for the maintenance, operations and repair of the aircrafts is further expected to remain high attributed to increasing number of flight bookings. With the growing number of the vacations, business trips, occasions and events, passengers are increasingly preferring to travel through air transportation options such as aircraft. As passengers prefer travelling through the air transportation options, the requirement of maintaining the operability and checking for repairing the damaged components of the aircraft continues to increase. Growing preference to travel through air transportation is expected to contribute towards growth of the global air transportation MRO market significantly.

Global Air Transportation MRO Market: Segmentation

In the next section, the global sir transportation MRO market is segmented into type, aircraft type, and region. On the basis of type, the global market is segmented as engine, components, line and airframe. Based on aircraft type, the global market is segmented as narrowbody jet, widebody and turboprop. By region, the global market is segmented as North America, Latin America, Europe, Japan, APEJ and MEA.

Global Air Transportation MRO Market: Competition

Major players in the global air transportation MRO market are China National Aviation Holding Company, AAR Corporation, British Airways PLC, Air France-KLM SA, General Electric Company, Delta Air Lines, Inc, Iberia Lineas Aereas de Espana S.A., John Swire & Sons HK Ltd, MTU Aero Engines AG and Deutsche Lufthansa Aktiengesellschaft.

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