Pune, India -- (SBWIRE) -- 08/01/2018 -- Market Highlights:

Air travel in emerging countries is growing, thus increasing the demand for aircraft engine MRO service providers. Many new MRO service centres have been setup in such countries in recent years. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft engine MRO.

Development of next-generation engines is major factor driving the growth of the market. The leading edge aviation propulsion (LEAP) engine, is the most fuel-efficient engine available in the market, and had received more than USD 100 billion in orders by 2015, which has propelled the market for aircraft engines. Additionally, need for proper maintenance of engines & engine components, is also driving the growth of the aircraft engines MRO market. However, environmental Hazards is the factor that may hamper the growth of the market.
The global aircraft engine MRO market is expected to grow at 6.43% CAGR during the forecast period.

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Major Key Players

GE Aviation (U.S.),
Rolls-Royce (U.K.),
Pratt & Whitney (U.S.),
Lufthansa Technik (Germany),
Safran Aircraft Engines (Paris),
SIA Engineering Company (Singapore),
Air France Industries KLM Engineering & Maintenance (France),
MTU Aero Engines (Germany), ST Aerospace (Singapore) and Delta TechOps (U.S.)

Competitive Analysis

The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. GE Aviation, Lufthansa Technik AG, Pratt & Whitney, Rolls Royce, Safran Aircraft Engines, Air France Industries KLM Engineering & Maintenance, Delta TechOps, MTU Aero Engines, SIA Engineering Company, and ST Aerospace are the major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario, is fueling the market growth, thereby making it an ideal time to launch new MRO services and increase the global market share.

Regional Analysis

In 2016, North America was the leading region for the global aircraft engine MRO market. A number of the major aircraft manufacturers (such as Boeing) and engine MRO services providers are present in the region, gaining the region a high market share. Moreover, it is expected that approximately 10,000 aircraft would be in service in the region by 2035, which would create an opportunity for the major and prominent companies of the region.
Asia, an emerging region in the long-haul international market, relies heavily on the small and medium widebody aircraft. As a result, a number of such airlines have been entering into service in the recent years such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia.

Segments

For the convenience of the report and enhanced understanding; The Aircraft Engine MRO Market is segmented in to 3 key dynamics
Segmentation by Application: Commercial Air Transport, and Business & General Aviation.
Segmentation by Types: Widebody Aircraft, and Narrowbody Aircraft.
Segmentation by Regions: Comprises Geographical regions - Americas (North & Latin), Europe, APAC and Middle East & Africa.

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Target Audience

- Manufacturing Organizations
- Distributors & Suppliers
- Research Institute / Education Institute
- Potential Investors

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