Fast Market Research announces the availability of the new TechNavio report, "Global Aircraft Engine MRO Market2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 09/04/2015 -- In the aerospace industry, engine MRO is carried out at regular intervals after an aircraft reaches the certain flight hour or flight cycle. Engine MRO includes performing routine checks or major overhauls to maintain the condition of an aircraft engine as per the requirements of operators. Engine MRO overhaul work usually involves off-wing disassembly, inspection, repair and replacement of parts, and re-assembly.
Technavio's analysts forecast the global aircraft engine MRO market to grow at a CAGR of 6.42% over the period 2014-2019.
Commenting on the report, an analyst from Technavio's team said: "Additive Manufacturing (AM) provides the ability to manufacture onsite when and where it is required. It simplifies and shortens the manufacturing supply chain. Such on-demand manufacturing capability also eliminates the need to keep a large inventory of finished product in warehouses. For example, GE now additively manufactures some of the hollow fuel nozzles for aircraft that it previously manufactured in pieces and assembled later. This process has reduced the product's supply chain for GE. AM can thus be beneficial to the MRO spare parts industry. Engine MRO spare parts can be printed onsite in a fraction of the time it otherwise takes to order and receive spare parts at the MRO facility."
Get More Details on this Report and a Full Table of Contents at Global Aircraft Engine MRO Market2015-2019
According to the report, growth of the market will outstrip the aircraft fleet growth over the next 10 years, as there is an existing substantial demand for engine maintenance and modifications. APAC will likely contribute to the majority of the demand over the forecast period. Increasing demand for engine MRO from emerging markets such as China and India has largely helped the market grow. For example, China constitutes a major share of this growing market. Increasing joint ventures have opened up new aircraft engine MRO facilities in China to cater to the MRO demand for engines such as CFM56, which powers the fleet of Boeing 737 and Airbus A320. Tax breaks, better MRO infrastructure, and cheap labor in China also largely support market growth.
Further, the report states that MRO facilities face challenges with MRO requirements for new composite materials.
The key players in the Global Aircraft Engine MRO Market are Delta TechOps, GE Aviation, Honeywell Aerospace, Pratt & Whitney Division and Rolls Royce while other prominent vendors include Ameco, Eagle Services Asia, Evergreen Technologies, Hong Kong Aero Engine Services, MTU Maintenance and Singapore Aero Engine Service
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit - http://www.technavio.com/report/aircraft-engine-mro-market
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