Pune, India -- (SBWIRE) -- 03/12/2018 -- Aircraft MRO Market – Overview

According to the recent study report – "Global Aircraft MRO Market" published by Market Research Future, Aircraft MRO Market will witness a steady growth registering a CAGR of 2% globally, during the forecast period 2016 – 2021.

The factors driving the demand are additive manufacturing used in aircraft parts, ageing fleets & replacement opportunities, air traffic volume, and outsourcing for aircraft maintenance, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures and widely spread over 103 pages.

While enlightening us upon the factor restraining the market growth, the MRFR Research Analyst continues, the higher replacement cost due to usage of composites and smart electronics, technological advancement in aircraft design, and environmental hazards are some of the factors hindering with the market growth of Aircraft MRO market globally.

Aircraft MRO Market – Key Players
The highly competitive by nature, the global aircraft MRO market is equally high on vendors resist based too in terms of cost, product quality, reliability, and aftermarket service. Vendors are offering cost-effective, high-quality, and innovative solutions integrated with the latest technologies and materials to sustain themselves in the intensely competitive scenario, Airbus Group and HAECO are the two key players in the market, who compete in terms of availability, price, quality, and technology. These vendors predominantly focus on new programs for new clients and updating the aircraft with high-speed technologies and robust systems. The market is anticipated to witness mergers, acquisitions, and increased collaboration with partners around the world during the forecast period.

Some of the key players in the Global Aircraft MRO Market primarily include Airbus Group, HAECO, Honeywell International, Lockheed Martin, ST Aerospace, Air Works, Jet Maintenance Solutions,. Other prominent key players identified by the MRFR Team of Research Analysts include GMF Aero Asia, and Lufthansa Technik.

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Global Aircraft MRO Market – Synopsis & Scenario

The global MRO market is expected to grow with A CAGR of 2 %, during the forecast period 2016 – 2021.
The current commercial air transport fleet consists of over 27K aircraft; over half are narrow body aircraft. The combination of strong air travel demand and the need to replace ageing aircraft will drive fleet growth at a healthy CAGR.
Continued low fuel costs could reverse aircraft retirements trends.

Modifications market will see the strongest growth (e.g. interiors, connectivity). Airframe market slows due to reduced man-hour intensity and increased check intervals as new fleets are introduced

Aircraft MRO Market – Regional and Country Analysis

As per the MRFR analysis, the EMEA region will continue its dominance in the forecast period valuing billions of USD, at a CAGR of 5%.
Whereas, Americas will grow at a decent rate of CAGR and , APAC will grow at a CAGR of 2.5%, respectively during the forecast period.
The Latin American MRO Supplier Landscape largely consists of airframe MRO suppliers, with limited component capabilities

Global Aircraft MRO Market – Report Segment

The Global Aircraft MRO Market is segmented in to 3 dynamics for the convenience of the report and enhanced understanding;

- Segmentation by MRO Types : Engine, Component, Line Maintenance, and Airframe & Modification
- Segmentation by Application : Commercial, Military, and Regional
- Segmentation by Region : North America, Europe, Asia-Pacific & RoW.

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