Air transport M.R.O. Market Dynamics
Drivers: Rising number of airline passengers
Due to the increasing number of middle-class travelers worldwide, the aviation business is expanding and will likely continue. By 2037, the number of passengers flying internationally could quadruple, increasing the number of flying hours for aircraft fleets. As a result, in the years to come, there will be a greater need for the maintenance and repair of aircraft components. More aviation sector growth would occur in APAC, particularly in China and India. To meet the rising demand for air travel, the Civil Aviation Administration of China (CAAC) plans to construct 216 new airports by 2035. This will have a direct positive impact on the aircraft M.R.O. market during the forecast period.
Restraints: COVID-19 restrictions
The COVID-19 pandemic is slowing down the number of people going internationally, limiting market expansion. Additionally, the hampered economic expansion of nations has resulted in the closure of small airline firms in 2020. All the major nations in Europe, Asia, and North America have severely limited economic operations and the movement of people and products due to the ongoing COVID-19 pandemic. All of these elements limit the availability and demand for airplane maintenance services, impeding the expansion of the global air transport M.R.O. market's revenue.
Opportunities: Introduction of blockchain
Utilizing blockchain technology in aviation has created the potential for M.R.O. providers and organizations concerning maintenance, data security, and passenger information, assisting enterprises in increasing efficiency and accuracy levels. In the aviation sector, blockchain is quickly becoming one of the more advanced connective technologies, assisting businesses in redefining their operations while reducing costs and enhancing maintenance procedures. With this technology, the precise real-time location of important assets may be reliably tracked. Important details, including passenger information, flight path, luggage onboarding, and tracking of lost objects, can assist management in taking the appropriate emergency action. However, M.R.O. service providers can use blockchain to give verifiable paperwork for components they have installed and serviced, in addition to a host of other advantages. These trends are predicted to be positive for the air transport M.R.O. industry during the evaluation period.
The engine category is estimated to be the largest growth in the steam engine market during the forecast period
The engine category dominated the market. One important element contributing to the expansion of the air transport M.R.O. market is O.E.M.'s involvement in engine maintenance activities. Field maintenance and depot maintenance are included in engine M.R.O. Engines, parts, and subassemblies are thoroughly maintained, repaired, and rebuilt as part of depot-level maintenance. As opposed to shop-style work and on-equipment repair activities at the field level. Additionally, the Engine segment will get more active and competitive in the coming years. More O.E.M.s and M.R.O. suppliers are collaborating to enhance engine manufacturing technology, expanding engine lifecycle and maintenance parameters. Compared to other aircraft parts and equipment, engines are seeing more uses of M.R.O. services due to these considerations.
Military air transport M.R.O. is estimated to be the largest growing market category during the forecast period
The military air transport M.R.O. segment is projected to grow fastest during the forecast period. Since M.R.O. businesses are transitioning from centralized maintenance diagnostic operations to prescriptive maintenance operations due to advancements in A.I. and analytics, the military sector has a higher stake. The global armed forces are putting more emphasis on routine engine maintenance and periodic inspections due to the complexity of engine parts and the rise in military aircraft crash caused by engine breakdowns.
The North American segment is estimated to be the largest growing market during the forecast period
North America is the largest air transport M.R.O. market and is projected to grow at the highest CAGR during the forecast period since the regional government is trying to create zero-emission automobiles. The North American aviation sector is incredibly important to the nation's economy. The U.S. has the largest military and commercial aircraft fleet worldwide, making M.R.O. services very important. The United States is a desirable market due to the presence of top O.E.M.s and M.R.O. providers. It anticipates growth in the North American air transport M.R.O. market. Due to severe government regulations for timely aircraft inspection, long-term contracts and agreements for necessary services are being signed by airlines and M.R.O. suppliers. Demand for air transport M.R.O. will continue to be driven by introducing new aircraft models and technologically advanced onboard services.
Key Market Players
The air transport M.R.O. market is dominated by a few global players and comprises several regional players. Some key manufacturers operating in the market are Aerospace Industries (I.A.I.), United Technologies Corporation (Pratt and Whitney division), A.A.R. Corporation, Deutsche Lufthansa AG, John Swire & Sons (H.K.) Ltd., TIMCO Aviation Services, Inc., Delta TechOps, Airbus S.A.S.
- In August 2021, Airbus and Delta Air Lines agreed that the latter would increase its order of 30 new A321neo planes. With this arrangement, Delta Air Lines hopes to further its strategic fleet goal of streamlining operations, boosting productivity, and meeting financial goals.
- In March 2021, the joint venture between Air France Industries K.L.M. Engineering & Maintenance and Triumph Group to overhaul nacelles for next-generation aircraft in Triumph's repair facility in Hot Springs, Arkansas, was officially announced. Through this collaboration, Triumph and AFI KLM can use their combined strengths to service businesses worldwide with seamless global M.R.O.
- In March 2021, the expansion of Barnes Aerospace's maintenance, repair, and overhaul plant in West Chester, Ohio, was announced. The West Chester M.R.O. operation is an industry leader in complex machining operations and comprehensive inspection applications.
- In February 2021, to maximize the performance of Etihad's GE90 and GEnx-1B engines on its Boeing 777 and 787 fleets, G.E. Aviation and Etihad Airways teamed up to introduce G.E.'s 360 Foam Wash, a ground-breaking jet engine cleaning technology.
Global Air transport M.R.O. Market – By Type
- Other Components
- Heavy Maintenance Inspection
- Engine Service Check
- Component Maintenance
- Line Maintenance
- Avionic Standardization
- Aircraft Conversions
- Civil Air Transport M.R.O.
- Military Air Transport M.R.O.
- Narrow Body
- Wide Body
- Regional Jet
- Turbo Prop
- Others (piston fixed wing, helicopters, etc.)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- G.C.C. Countries
- South Africa
- Rest of Middle East and Africa