Analysis: Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Anticipated to Grow at 7.32% CAGR by 2030

November 5, 2024 akio01

A Quick Overview of Aircraft Maintenance, Repair and Overhaul (MRO) Services Market

The key object of this report on the Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.

MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.

The size of the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market size in the year 2022 was around USD 78.9 billion and it is estimated to grow at a CAGR of around 7.32% from 2024 to 2030. There are several factors contributing to the expansion of the industry such as —–

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Market Dynamics:

Growth Opportunity–

Increasing Deployments of Military Aircrafts & Their Modernization to Amplify the Demand for MRO Services – Aircraft are fundamental part of the country’s military sector since the militaries primarily use these aircraft for offensive & defensive purposes. Therefore, to enhance their capabilities and maintain a competitive edge over other countries, the governments of several countries like the US, India, China, etc., are investing in purchasing military aircraft. For instance,

In 2023, the Defence Acquisition Council of India approved the procurement of around 30 MKI jets & 12 SU for the Indian Air Force (IAF).

This increasing deployment of aircraft systems is foreseen to generate the requirement for regular maintenance & pose an opportunity for the MRO services providers such as Boeing, Delta Airline, etc., to deliver their services to the military in the forthcoming years.

Moreover, several nations like South Korea, Japan, etc., are opting for the modernization of the existing aircraft fleet. This modernization effort includes avionics upgrades, structural enhancements, and the amalgamation of new weapons systems. These projects require extensive maintenance and overhaul work to ensure that the upgraded aircraft meets safety and performance standards. Consequently, this poses an opportunity for MRO providers specializing in military aviation to tap into a growing market.

Thus, the growing deployment of military aircraft & the increasing fleet modernization presents a lucrative avenue for MRO growth in the aerospace sector.

Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Report Segmentation:

The report by MarkNtel Advisors on Aircraft Maintenance, Repair and Overhaul (MRO) Services Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:

By Type of MRO

Independent MRO- Market Size & Forecast 2019-2029F, USD Million
Original Equipment Manufacturer (OEM) MRO- Market Size & Forecast 2019-2029F, USD Million
Airline/Operator MRO- Market Size & Forecast 2019-2029F, USD Million

By Service Type

Airframe Maintenance- Market Size & Forecast 2019-2029F, USD Million
Engine Overhaul- Market Size & Forecast 2019-2029F, USD Million
Modification- Market Size & Forecast 2019-2029F, USD Million
Component repair & Maintenance- Market Size & Forecast 2019-2029F, USD Million
Line Maintenance- Market Size & Forecast 2019-2029F, USD Million

Engine overhaul segment witnessed remarkable growth in the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market due to the increasing insurance & warranty agreements between the MROs and airline operators related to engine maintenance and performance.

By Type of Aircraft

Commercial Aviation
- Narrow body Jet- Market Size & Forecast 2019-2029F, USD Million
- Widebody Jet- Market Size & Forecast 2019-2029F, USD Million
- Regional Jet- Market Size & Forecast 2019-2029F, USD Million
- Cargo- Market Size & Forecast 2019-2029F, USD Million
General Aviation
- Single-Engine Piston Aircraft
- Twin-Engine Piston Aircraft
- Turboprop Aircraft
- Business Jets
- Amphibious Aircrafts
- Others (Rotorcraft, Aerobatic Aircraft, etc.)
Military Aviation
- Fighter Aircraft
- Bomber Aircraft
- Reconnaissance Aircraft
- Special Mission Aircraft
- Others (Transport Aircraft, Trainer Aircraft, etc.)

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

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Some of the Top Aircraft Maintenance, Repair and Overhaul (MRO) Services Companies in the Market

In the fast-changing Aircraft Maintenance, Repair and Overhaul (MRO) Services Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top players of the industry ruling the industry are:

Delta TechOps
Lufthansa Technik AG
Financial Details
Air France Industries KLM Engineering & Maintenance
Hong Kong Aircraft Engineering Company Limited (HAECO)
PT GMF Aeroasia TBK
Avia Solutions Group PLC
StandardAero
Emirates Engineering
MTU Aero Engines AG
Singapore Technologies Engineering Ltd
Tap Maintenance & Engineering Ltd.
AAR Corporation
Textron Aviation, Inc.
Euravia Engineering & Supply Co. Ltd
Air India Engineering Services Ltd
Others

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Analysis: Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Anticipated to Grow at 7.32% CAGR by 2030