Commercial Aircraft MRO Market is a CAGR of over 4.9% from 2021 to 2027

Commercial Aircraft MRO Market Size
Commercial Aircraft MRO Market Size was over USD 70 billion in 2020 and is expected to grow at a CAGR of more than 4.9% from 2021 to 2027.

The MRO market is controlled by outside factors such as aircraft usage, worldwide fleet size, and air traffic volumes, i.e., cargo and passengers. Air travel growth necessitates increased production of aircraft, which will help the MRO sector.

Hello! Investing in software to monitor aircraft maintenance and repairs (MRO) is a good wager for aviation industry growth. These software solutions have all you need, from maintenance schedule tracking to budgeting and manuals. And, they track all the work orders and keep you current on regulatory updates from FAA and ICAO. The greatest advantage of these MRO software solutions is that they streamline airlines’ maintenance activities, resulting in less downtime and more flight. And with all the data that’s available in the aviation industry, these tools can also help MRO companies use big data and analytics to improve their operations and offer custom solutions to meet the needs of each airline.

As more and more people choose to fly, airlines are expanding their fleets and outsourcing maintenance tasks to keep their planes running smoothly. This opening up of foreign direct investment policies has encouraged airlines to approach external assistance, and this is increasing the need for Maintenance, Repair, and Overhaul (MRO) services. Cheaper fares, increased frequency of flights, and more routes are fueling the air travel boom. This is pressurizing airlines to maintain their aircraft in peak condition, which is creating an increasing demand for MRO facilities. This increased demand will propel the expansion of the MRO industry in the next few years.

Commercial Aircraft MRO Market Report Attributes
Report Attribute Details
Base Year 2020
Commercial Aircraft MRO Market Size in 2020 USD 71,632.5 Million
Forecast Period 2021 to 2027
Forecast Period 2021 to 2027 CAGR 4.9%
2027 Value Projection USD 97,755.3 Million
Historical Data for 2017 to 2020
No. of Pages\t141
Tables, Charts & Figures\t203
Segments covered\tMRO Services, Service Provider, Aircraft
Growth Drivers\t
Increased demand for low-cost carriers
The in-service and aging fleet’s requirement for maintenance
Stringent airworthiness regulations and policies
Digitalization of aircraft MRO services
Pitfalls & Challenges\t
Increased cost of aircraft components and spare parts
Aircraft downtime resulting from performing complex MRO operations
What are the growth opportunities in this market?

The aviation MRO sector is under pressure due to inadequate labor supply, increased cost of labor, aging demography, and declining interest on maintenance technician job role among newly graduated engineer. Unless there is a drastic change, this trend will continue in the forecast period. Right-shorting and outsourcing are two alternatives that are more applicable to MRO operators. Rising material prices are turning into a critical factor, driving the market growth. MRO firms are attempting to develop tactics that insulate themselves by way of strategic association with OEMs. It will also assist in real-time ordering of aircraft parts and components.

Commercial Aircraft MRO Market Analysis
Engines are set to dominate the world of airplane maintenance! By 2027, over a third of the money spent on fixing and maintaining commercial planes will go to engine-related work. Engine maintenance comes in two flavorsfield maintenance and depot maintenance. If your engine needs some serious TLC, it’ll likely head to a depot for major repairs, overhauls, and even rebuilding. Depot maintenance also includes expert technical help, making parts, and testing. But if your engine is repairable in the field, it’ll likely remain on the plane. That involves doing things such as repairing minor problems, keeping software current, and even producing new parts if necessary. Engines are going to dominate the maintenance throne for a few years to come. And hold on to your seats, people – the battle in the engine maintenance industry is going to get increasingly more aggressive and complex.

Discover more about the major segments influencing this market

Independent service providers segment will touch USD 60 billion in 2027. Independent MRO companies are under pressure to achieve competitive turnaround times for returning aircraft, engines or other sophisticated components and with the best quality of service. Airlines companies are outsourcing maintenance such as engine, airframe, line maintenance, and others. Airline outsourced MRO expenditure is estimated to see tremendous growth during the forecast period. Standalone MRO firms offer principal maintenance inspections, landing gear work, engineering work, upgrades, modifications, refurbishments, and painting for a wide variety of aircraft.

Discover more about the most important segments influencing this market

The narrowbody aircraft segment of the commercial aircraft MRO industry is expected to create a revenue of USD 55 billion in 2027. A narrowbody aircraft or single-aisle aircraft, employed for the operation of short-haul cross-border routes and domestic routes, is a smaller-class aircraft. A narrowbody aircraft is capable of transporting 295 passengers as it is a small plane and limited to a short-distance flight. The market is tremendously reliant on private and commercial narrowbody aircraft. The increasing usage of such planes in the building sector will increase revenue generation even further.

Hello! Hold on to your seat for an Asia Pacific region aircraft maintenance, repair, and overhaul (MRO) sector boom!. It’s going to increase by over 5.5% every year until 2027. Why? Because the commercial air transport business is skyrocketing, particularly in the Asia Pacific, where individuals are wild about acquiring new, tiny aircraft. India, Japan, China, South Korea, Australia, and Singapore are among the countries at the forefront of developing this regional market. Their aircraft fleets are going to continue expanding in the years to come, and that equals increased demand for MRO services. And in nations like India and China, their aircraft are aging and require new parts or even replacement entirely. That’s another way the MRO industry is anticipated to boom.

Commercial Aircraft MRO Market Share

Global market players majorly focus on the development and expansion of their technologies and service portfolio to enhance business capabilities and cater to the rising demand. Strategic partnerships and enhancement of the product landscape are key initiatives in the global industry. Some of the key manufacturers include

• Airbus
• Boeing Company
• AAR Corporation
• Bombardier Inc
• Embraer S.A
• Delta TechOps
• General Dynamics Corp
• Hong Kong Aircraft Engineering Company (HAECO) Ltd
• GE Aviation
• Honeywell Aerospace
• Lufthansa Technik AG
• Rolls-Royce plc
• MTU Aero Engines AG
• Safran SA.