Aircraft Maintenance, Repair and Overhauling Services Market 2020
Harrisburg, NC -- (SBWIRE) -- 10/15/2020 -- Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2020-30: Covid 19 Impact and Recovery
Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve safety, productivity and quality of aircrafts. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision making. These technologies optimize manufacturing operations and costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases lifecycle of parts and reduces maintenance costs. Boeing has successfully built machine-learning algorithms for aircraft designing and to automate factory operations.
The aircraft maintenance, repair and overhauling services market consists of sales of aircraft maintenance, repair and overhauling services by entities (organizations, sole traders and partnerships) that maintain, repair and overhaul military and commercial aircraft.
The global aircraft maintenance, repair and overhauling services market is expected to decline from $70.2 billion in 2019 to $68 billion in 2020 at a compound annual growth rate (CAGR) of -3.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $78.5 billion in 2023.
Top Leading Companies mentioned are
Honeywell Aerospace; AAR Corporation; Air France Industries KLM Engineering & Maintenance; Airbus SAS; The Boeing Company
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Asia Pacific was the largest region in the global aircraft maintenance, repair and overhauling services market, accounting for 37% of the market in 2019. North America was the second largest region accounting for 23% of the global aircraft maintenance, repair and overhauling services market. Africa was the smallest region in the global aircraft maintenance, repair and overhauling services market.
News and Latest Development:
09TH DECEMBER 2019, SR Technics, a world leading MRO service provider, is pleased to announce the extension of its partnership with PT Garuda Maintenance Facility AeroAsia (GMF). As per the agreement, effective November 1, 2019, the two parties will be providing Integrated Component Services (ICS) for Garuda Indonesia's fleet of Airbus A330neo and Airbus A330ceo aircraft.
10 June 2019: Etihad Engineering, the Maintenance, Repair and Overhaul (MRO) arm of Etihad Aviation Group, has been expanding its operations in aircraft maintenance and parking, to meet the new requirements of airline operators as fleets have been grounded due to the COVID-19 pandemic. The MRO provider continues to adapt to the ever-changing market needs and leverages its one-stop-shop service to cater to an increase in parking requirements and opportunistic maintenance. Operators from around the world have worked closely with the MRO to bring forward maintenance work that was initially planned towards the end of the year.
Essential points covered in Global Aircraft Maintenance, Repair and Overhauling Services Market2020 Research are:-
What will the market size and the growth rate be in 2020?
What are the key factors driving the global Aircraft Maintenance, Repair and Overhauling Services market?
What are the key markets trends impacting the growth of the global Aircraft Maintenance, Repair and Overhauling Services market?
What are the challenges to market growth?
Who are the key vendors in the global Aircraft Maintenance, Repair and Overhauling Services market?
What are the market opportunities and threats faced by the vendors in the global Aircraft Maintenance, Repair and Overhauling Services market?
What are the key outcomes of the five forces analysis of the global Aircraft Maintenance, Repair and Overhauling Services market?
This independent 300 pages report guarantees you will remain better informed than your competition. With over figures examining the Aircraft Maintenance, Repair and Overhauling Services market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader's market revenue forecasts as well as analysis to 2020.
Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Aircraft Maintenance, Repair and Overhauling Services in these regions, from 2014 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Aircraft Maintenance, Repair and Overhauling Services market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Aircraft Maintenance, Repair and Overhauling Services market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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The research includes historic data from 2014 to 2020 and forecasts until 2020 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Aircraft Maintenance, Repair and Overhauling Services on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Aircraft Maintenance, Repair and Overhauling Services Market and assist manufacturers and Aircraft Maintenance, Repair and Overhauling Services organization to better grasp the development course of Aircraft Maintenance, Repair and Overhauling Services Market.
Note: All the reports that we list have been tracking the impact of COVID-19 . Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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