Fast Market Research announces the availability of the new TechNavio report, "Global Commercial and Military Aircraft MRO Market 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 08/18/2015 -- Aircraft maintenance, repair, and overhaul (MRO) has become an essential component to ensure that the fleets are airworthy and safe to transport passengers. MRO extends life of the airline fleet. MRO companies provide services, such as repairs, inspections, routine checks and overhaul of the aircraft. Factors, such as aircraft utilisation, global fleet size and air traffic volumes, influence the commercial and military aircraft MRO market.
The global aircraft MRO market is classified into following segments: Airframe, line, engine, component maintenance, and modifications.
Technavio analysts forecast the Global Commercial and Military Aircraft MRO Market to grow at a CAGR of 3.36% during 2014-2019.
Commenting on the report, an analyst from Technavio's team said, "one major trend in this market is Introduction of Wearable Technology in MRO. Earlier, technicians used to access the documentation of flights on their workstations and it has become difficult for them to fix the problem on the ground."
Get More Details on this Report and a Full Table of Contents at Global Commercial and Military Aircraft MRO Market 2015-2019
According to the report, one key driver of this market is Additive Manufacturing Used in Aircraft Parts. The increasing use of additive manufacturing in the aerospace and defense industry has led to reduced material costs, availability of parts at the time of use, and decrease in labor content. With the use of additive manufacturing, MRO companies can develop spare parts and complete repairs within time.
Further, the report states that one of the major challenges is the higher replacement cost. MRO is influenced by improved technology and increased maintenance intervals of new generation aircraft, particularly in usage of composites and smart electronics. Also, the cost associated with engine and component MRO is high because it requires greater service expertise as well as greater OEM control.
The key players in the Global Commercial and Military Aircraft MRO Market are Airbus Group, HAECO, Honeywell International, Lockheed Martin, ST Aerospace while other prominent vendors include Air Works, FL Technics Jet JSC, GMF AeroAsia, Lufthansa Technik.
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.
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