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Commercial Aircraft MRO Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2026

Author : Ronak Bora | Published Date : 2020-08-26 

North America commercial aircraft MRO market to depict appreciable gains by 2026. The global commercial aircraft MRO market is anticipated to grow at a commendable pace, on account of the rising number of air passengers and increasing production as well as deliveries of aircrafts. The development of low-cost carriers has enabled increased affordability, leading to rising sales of inexpensive flight tickets for various routes across the globe. Moreover, various regulatory authorities are also focusing on introducing strict reforms regarding the aircraft’s suitability for a safe flight. This factor along with growing demand for low maintenance aircrafts for long duration flights and rising capita per income are driving the market growth.

According to estimates, the commercial aircraft MRO market is presumed to surpass USD 121.5 billion by the year 2026.

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As per MRO service type, the components segment is expected to hold 20% share in the overall market by the year 2026. Rising adoption of components such as electricals, landing gear, fuel systems and wheels & brakes has increased the frequency of component wear and tear which in turn may negatively impact the aircraft performance. In order to avoid the same, component manufacturers are providing long term service packages to consumers in order to ensure efficient and effective servicing without any delays, which is likely to bolster the segmental growth.

According to estimates, the independent service provider segment is presumed to hold 60% share by the year 2026. These type of service providers not only offer business flexibility but also provide with varied overhaul service, repair and maintenance alternatives. Adding to this, independent service providers offer superior machinery, equipment and tools as well as high skilled technicians, thereby aiding the business scenario.

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In terms of aircraft type, the regional jets segment will witness a growth rate of 4.8% during the period of 2020-2026. This type of aircraft is ideal for connecting carrier hubs and airports. Furthermore, various aircraft manufacturers are focusing on R&D activities in order to develop lightweight materials and advanced technologies, which in turn is contributing towards popularity of regional jets across the globe.

Elaborating on the geographical landscape, North America is poised to acquire more than a quarter of the market share during the study period. There has been an upsurge in backlogs for demand and supply of aircrafts. Adding to this, increasing production of aircrafts and booming tourism industry are favoring the market outlook in North America.

The prominent companies operating in the commercial aircraft MRO industry are ST Aerospace, United Technologies Corp., GE Aviation and AAR Corp. These market majors are conducting various business strategies such as mergers and acquisitions in order to expand their operations as well as to gain a competitive edge in the overall industry. In January 2019 for instance, Dassault Aviation joined forces with ExecuJet MRO operations in order to strengthen its position in Middle Eastern and Asia-Pacific regions.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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