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Global Air Transport MRO Market Share, Growth Analysis & Trends Forecasted during 2019- 2028

Feb 1st 2019 at 2:50 AM

Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Global Air Transport MRO Market Share, Growth Analysis & Trends Forecasted during 2019- 2028”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for (Global Air Transport MRO Market). Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.

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Global Aircraft maintenance services includes is the overhaul, repair, inspection or modification of an aircraft or aircraft component. Maintenance tasks ensure compliance with Airworthiness Instructions. The maintenance of aircraft is highly regulated, in order to ensure safe and correct functioning of all the components at the time of flight. These directives are coordinated under international standards, maintained by bodies such as the International Civil Aviation Organization (ICAO). Some of the applications considered under the air transport MRO market report include airframe, engine, component and line MRO services.

Air travel passengers are increasing day-by-day across the globe, primarily due to the establishment of more than 700 routes for better connectivity. According to the International Air Transport Association, the global passenger traffic increased by 7.6% in 2018, which is more than the average annual growth witnessed during the last ten years, i.e. 5.5%. This increase will create new challenges for the government to provide appropriate infrastructure, technology and services that can accommodate this growth and to assure that the regulations and taxes do not become a restraining factor for growth. This growth in passenger traffic will also drive the aviation market, in turn, leading to the growth of air transport MRO market.

Long-term prospects for aviation will remain strong. Tier 1 and Tier 2 service providers are investing in and entering into strategic collaborations with airport handler companies based in Asia Pacific to enhance their capacity to handle the rapidly expanding air transport MRO market. By collaborating with airline companies, the companies are looking to enhance their end user reach in markets by adding new clients to their list as well as improving responsiveness and services to customers in the continuously growing Asian air transport MRO market. The trend will certainly emerge as a competitive strategy in the coming years and is visible across all major service providers in the air transport MRO market.

Air transport MRO market service providers are focusing on expanding their presence in emerging aviation markets to capitalize on the growing demand for aviation industry and MRO services due to lower capital and labour costs in these regions. The market for air transport MRO in countries, such as China, India, Indonesia, Brazil and Mexico, is projected to benefit significantly from the growing demand for the aviation industry.

Air transport MRO market service providers provide services for all types of aircrafts, including new and old fleet, narrow body aircrafts, wide body aircrafts, regional jets, turbo prop aircrafts and general aviation markets as well as military and space. The companies are well positioned to leverage their expertise to cater to the growing aerospace and defense market, thereby enhancing their revenue and air transport MRO market share in the medium term.

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The overall Air Transport MRO market is estimated to be valued at US$ 123,351 Mn by 2028, projecting a CAGR of 4.9% over the forecast period.

On the basis of Application, the global air transport MRO market can be segmented into airframe, engine, component and line. Engine segment is expected to account for 39.2% volume share in 2018. On the basis of aircraft type, the global Air Transport MRO market can be segmented into Narrow Body Aircraft, Wide Body Aircraft, Regional Jet and TurboProp. Narrow body aircraft segment is expected to dominate the air transport MRO market over the forecast period and account for over 52.8% value share in 2018. High growth of the segment can mainly be attributed to the huge existing fleet size of narrow body aircrafts.

On the basis of geography, the global Air Transport MRO market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia & Pacific, China, India, Middle East & Africa and Japan. The North America Air Transport MRO market accounts for a major value share and is projected to retain its dominance in the global air transport MRO market over the forecast period. The U.S. air transport MRO market is expected to account for 77% of market share in the North America market, by value, by the end of 2018, projecting a CAGR of 4.5% between 2019 and 2028. Air Transport MRO in Canada is expected to represent a total incremental opportunity of US$ 2,888.2 Mn between 2019 and 2028.

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