Pune, India -- (SBWire) -- 02/13/2018 --Market Overview:
Aircraft airframe MRO is a complex process as it entails repair and upgrade of the wide body and narrow body aircrafts. Airframe MRO facilities are required to undertake tasks, which include corrosion prevention, control programs, and structure reinforcement among others. The wide body segment is expected to significantly drive the growth of airframe MRO segment.
The market is driven by various factors such as increased focus of OEMs on aircraft airframe MRO service and rapid aircraft fleet expansion. Also, the increased need for proper maintenance of engines & components is driving the growth of the aircraft airframe MRO market.
The global aircraft airframe MRO market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. In addition, in-house aircraft maintenance capabilities, global footprint network, MRO offerings, R&D investments, and strong client base have become the key areas to gain an edge over the competitors.
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality aircraft airframe MRO services, in order to survive and succeed in an intensely competitive market environment.
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The key players of the global aircraft airframe MRO market are Air France KLM Engineering & Maintenance (France), Singapore Technologies Aerospace (Singapore), HAECO (Hong Kong), AAR Corp. (U.S.), Lufthansa Technik AG (Germany), GAMECO (China), Turkish Technic Inc. (Turkey), Evergreen Aviation Technologies (EGAT) (Taiwan), Aviation Technical Services (U.S.), and Sabena Technics (France). In 2016, these companies accounted for a share of % of the global market.
The global Aircraft Airframe MRO Market is expected to grow at a CAGR of approximately 4%, from 2017 to 2023.
Industry/ Innovation/ Related News:
November 20, 2017 – AAR has committed to significantly increasing the volume of contracted component repairs with Air New Zealand. In a 10-year agreement, AAR designated Air New Zealand's component center as its Asia Pacific MRO of choice. This is the latest example of AAR's commitment to grow and strengthen its partnership with Air New Zealand, the country's flag carrier airline.
November 1, 2017 - AFI KLM E&M and Indian LCC IndiGo have signed a component support contract covering 30 ATR 72-600 aircraft, delivery of which is to begin in the near future. The array of services to be delivered by AFI KLM E&M includes repairs, dedicated pool access, provision of a Main Base Kit (MBK), and logistics support.
September 13, 2017- The AFI KLM E&M network now a new addition to its range of predictive maintenance solutions, in the shape of PROGNOS for APU. Designed, built and marketed by EPCOR, the Group subsidiary specializing in MRO services for Auxiliary Power Units (APUs), the new offering was officially launched at the beginning of September. Like its predecessors, PROGNOS for APU uses Big Data technologies to monitor the performance of APUs and predict faults, ultimately helping to rationalize maintenance work and avoid shop visits and excess costs for client airlines, a major competitive advantage.
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Regional Analysis
Europe is one of the major regions for the global aircraft airframe MRO market. In 2016, there were over 4,500 aircraft in the region, and the number is expected to reach more than 8,000 fleets by 2035. Since Europe is home to Airbus, all the MRO activities for the planes of the company would be carried out by Europe-based companies such as Air France KLM and Lufthansa Technik, which are among the major companies in the market. With the increase in the number of aircraft, it is expected that there would be larger participation of the regional companies, in providing MRO services for the aircraft.
In 2016, North America was the second-largest region for the global aircraft MRO market. A number of the major MRO service providers such as Airbus and Honeywell, are present in the region, resulting in a high market share of the region. 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.
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Aircraft Airframe MRO Global Market 2018- Competitive Landscape, Strategies, Share, Trends, Segmentation, Growth Forecast 2023
Market Research Future Published a Cooked Research “Global Aircraft Airframe MRO Market Research Report - Forecast to 2023” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.