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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Aircraft Maintenance, Repair and Overhaul (MRO) market. Market segmentation includes Maintenance Type (Engine Overhaul, Components Maintenance, Line Maintenance, Airframe Maintenance, Modifications); Aircraft Type (Narrowbody, Widebody, Other Aircraft Types); Aircraft Generation (Old Generation, Mid Generation, New Generation).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

5 November 8:30 p.m., California- According to the new market research report, the global market for Aircraft Maintenance, Repair and Overhaul (MRO) is projected to grow at a CAGR of 3.7% reach US$57.8 billion by 2027, driven by the stringent airworthiness requirements in place in the aviation industry. The market is influenced by recovery in air travel demand which is influenced by factors like traveler sentiment, epidemiological timeline, government restrictions, and the macroeconomic scenario. The global Aircraft Maintenance, Repair and Overhaul (MRO) market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Engine Overhaul, one of the segments analyzed and sized in this study, is forecast to grow at over 4.1% and reach a market size of US$24.3 billion by the end of the analysis period. The United States is forecast to readjust to a 2.1% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$2.3 billion growing at a CAGR of 2.8% over the next couple of years. In addition, over US$965 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Engine Overhaul segment will reach a market size of US$469.4 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Engine Overhaul segment in this country against this backdrop will grow at a CAGR of 6.5% over the next couple of years to create an addressable market opportunity worth US$2.2 billion by the year 2027.

Aircraft maintenance, repair and overhaul (MRO) represents a multi-billion dollar industry, which is influenced by a host of factors including health of the aviation industry; size of the commercial aircraft fleet and their age; frequency of new aircraft upgrades; and stringent compliance regulations for aircraft ownerships, among numerous others. Few of the factors that make aircraft MRO important include its ability to reduce lost opportunities due to aircraft downtime caused by failure; optimize aircraft performance and in turn reduce operating expenditure; ensure maximum passenger safety; ability to prolong life of the aircraft and enhance ROI in capital investments; reduced risk of mechanical failure; increased long-term savings offered by proactive maintenance; and the competitive need to provide value added, superior services that ensure that passengers have a pleasant, safe and timely journey. Downtime caused by unscheduled maintenance has the potential to erode corporate bottom-line, and damage service credibility and brand in the market. Conversely, given that passenger safety plays a vital role in influencing customers' choice of airline carrier, MRO can help boost safety record/rating of airline companies and reduce churn rates by positively influencing future travel choices of the customer. The aircraft MRO market is anticipated to rely heavily on recovery in air travel demand which is likely to be influenced by factors like traveler sentiment, epidemiological timeline, government restrictions, and the macroeconomic scenario. While the global aircraft MRO market remains under tremendous pressure due to the ongoing COVID-19 pandemic and the economic contraction, the long-term opportunities for the market will emerge due to the essential nature of MRO services in maintaining and renovating aircrafts and to ensure their optimized performance. Fleet expansion and need for maintenance of airframes remain the vital factors driving growth in the global MRO market.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 9047. Among this pool, 1267 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 271 unique participations, a total of 122 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Honeywell International, Inc.
AAR Corporation
Bombardier, Inc.
AMECO Beijing
Air France Klm Engineering Maintenance
Aviation Technical Services, Inc.
Bedek Aviation Group
Delta TechOps
GMF AeroAsia
Aeroman
AMETEK MRO
Airbus SAS

Segments Covered in the Report -
Maintenance Type (Engine Overhaul, Components Maintenance, Line Maintenance, Airframe Maintenance, Modifications)
Aircraft Type (Narrowbody, Widebody, Other Aircraft Types)
Aircraft Generation (Old Generation, Mid Generation, New Generation)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
Singapore
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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