Fast Market Research announces the availability of the new TechNavio report, "Global Widebody Aircraft MRO Market 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 09/04/2015 -- Aircraft MRO is crucial for sustaining and extending the life of widebody aircraft. It consists of maintenances, overhauls, routine checks, repairs, and modifications carried out on widebody aircraft and their components. MRO services assure the safety and airworthiness of the aircraft. Commercial aircraft MRO includes engine overhaul, component MRO, line maintenance, and heavy maintenance.
Technavio's analysts forecast the global widebody aircraft MRO market to grow at a CAGR of 4.14% over the period 2014-2019.
Commenting on the report, an analyst from Technavio's team said: "Rapid advances in mobile technologies and devices have allowed for the integration of mobile-based solutions with MRO operations. These solutions are expected to maximize effectiveness and minimize process complexity. Japan Airlines, for instance, has introduced the use of Google Glass for inspections during maintenance processes. Technicians and engineers wear the glasses during their MRO work on the aircraft or the tarmac. Images or video of the aircraft parts at the work site are relayed in real-time to maintenance specialists, who provide feedback to the engineer onsite."
Get More Details on this Report and a Full Table of Contents at Global Widebody Aircraft MRO Market 2015-2019
According to the report, OEMs are becoming increasingly proactive in the area of aftermarket services. In 2013, the major engine OEMs such as Pratt & Whitney and GE generated 50% of their revenue from MRO and the rest from manufacturing. Pratt & Whitney provides line maintenance for a wide range of its engines. The company has also entered the parts manufacturer approval (PMA) market, United Airlines being its first customer in that segment. The major aircraft OEMs such as Boeing and Airbus generated 10% of their revenue from MRO services, and they have also been focusing on increasing their aftermarket revenue. For example, Airbus is developing the Air+ program, which leverages the MRO network and provides better maintenance solutions. Airbus has also shown interest in setting up MRO facilities in emerging countries like India.
Further, the report states that the imposition of high import duties and value-added taxes on aircraft spare parts in many countries hinders the free trade of these parts.
The key players in the Global Wide-Body Aircraft Maintainence, Repair, and Overhaul (MRO) Market are GE Aviation, Honeywell Aerospace, Lufthansa Technik, Pratt & Whitney (United Technologies) and Rolls-Royce Holdings while other prominent vendors include Abu Dhabi Aircraft Technologies, Air France Industries KLM Engineering and Maintenance, MTU Aero Engines and Singapore Technologies Aerospace
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