Authored By: Sarah
11 Jul 2024

 Aircraft Engine MRO Market Size to grow by USD 11.36 billion between 2024-2028

According to a research report “ Aircraft Engine MRO Market” by Application (Commercial aviation, Military aviation, General aviation) Type (Turbofan and turbojet, Turboprop) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 11.36 billion, at a CAGR of almost 5.86% during the forecast period. The aircraft engine MRO market is experiencing significant growth due to increased investments in establishing new Maintenance, Repair, and Overhaul (MRO) facilities, particularly in emerging economies such as India. This trend is driven by the rising number of air passengers, expanding middle-class income, and growth of low-cost carriers (LCC) in these regions. Notably, Airbus Helicopters inaugurated a new MRO facility in Paris in January 2022, dedicated to helicopter component repair. Additionally, Lockheed Martin Corp., a leading US-based aerospace company, announced plans to set up an MRO facility for the F-21 fighter jets in India in August 2021. These developments underscore the strategic importance of emerging markets for MRO companies.

Browse market data tables, figures, and in-depth TOC on “Aircraft Engine MRO Market” by Application (Commercial aviation, Military aviation, General aviation) Type (Turbofan and turbojet, Turboprop) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Application, the Commercial aviation segment is projected to dominate the market size in 2024

In the aviation industry, aircraft engines undergo maintenance, repair, and overhaul (MRO) processes to ensure optimal performance and safety. Among various types of aircraft engines, turbojet and turbofan engines are commonly used. Turbojet engines operate on the principle of a continuous flow of air entering the compressor section, passing through the combustion chamber, and exiting via the turbine and exhaust. The exhaust gases propel the aircraft forward, making it the simplest form of turbine engine. Modern airliners predominantly utilize turbofan engines due to their enhanced thrust and fuel efficiency. These engines incorporate a fan in the front and an additional turbine at the rear, encasing the core engine.

By Type, Turbofan and turbojet  segment is expected to hold the largest market size for the year 2024

Commercial aviation operators prioritize routine Maintenance, Repair, and Overhaul (MRO) activities to keep aircraft engines in peak operating condition. These activities encompass regular inspections, lubrication, and component replacements to mitigate wear and tear. Unforeseen engine issues may arise during flight operations, necessitating immediate MRO services for accurate diagnosis and repair. Overhauls entail extensive inspections, repairs, and replacement of components to enhance engine longevity. Commercial airlines may opt for overhauls based on operating hours or predefined intervals. Adherence to regulatory standards is crucial in aviation, and MRO services ensure that aircraft engines adhere to stringent safety and airworthiness regulations established by authorities such as the FAA, EASA, and others.

APAC is forecasted to hold the largest market size by region in 2024

The low-cost carrier (LCC) business model's continued success in the Asia-Pacific (APAC) region, driven by factors such as reduced airfares, rising standards of living, a burgeoning middle class, and increasing tourism, has significantly boosted passenger traffic and fueled growth in the commercial aircraft industry. Moreover, fleet operators' increasing preference for energy-efficient aircraft to replace aging models with technologically advanced ones presents substantial opportunities for aircraft and engine manufacturers to expand their presence in APAC. With the aviation industry experiencing the highest growth rates globally and anticipated to lead the sector over the next two decades, this region represents a lucrative market for aircraft engine Maintenance, Repair, and Overhaul (MRO) providers.

The Aircraft Engine MRO Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • A J Walter Aviation Ltd.
  • AAR Corp.
  • Ana Holdings Inc.
  • Aviation Technical Services
  • AZUL SA
  • Delta Air Lines Inc.
  • Deutsche Lufthansa AG
  • General Electric Co.
  • Hindustan Aeronautics Ltd.
  • IAG Aero Group
  • Israel Aerospace Industries Ltd.
  • John Swire and Sons Ltd.
  • MTU Aero Engines AG
  • Rolls Royce Holdings Plc
  • RTX Corp.
  • Safran SA
  • Sanad
  • Singapore Airlines Ltd.
  • Singapore Technologies Engineering Ltd.
  • Synerjet Corp.
  • The Boeing Co.
  • Transportes Aereos Portugueses S.A.
  • Turkish Airlines
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The Aircraft Engine MRO (Maintenance, Repair, and Overhaul) market is experiencing significant growth due to increasing air traffic volumes, fleet expansion plans, and the need for aircraft utilization. This growth is leading to an increased demand for technical maintenance jobs, putting pressure on the labor force costs and workforce supply. The aircraft fleet, comprised of piston engines and turbine engines, requires regular maintenance to ensure optimal performance and safety. Emerging countries and rapid urbanization are driving the demand for next-generation engines, such as the LEAP engine, which require advanced MRO capabilities. Tier-II and Tier-III suppliers play a crucial role in providing MRO support to airlines and military forces. Cargo aircraft also require specialized MRO support to ensure efficient operations. Overhaul activities, repair, and aircraft maintenance are essential to keep up with passenger traffic and aircraft movements. The aviation industry's ongoing modernization and the adoption of new technologies are creating new opportunities for MRO providers. The market is expected to continue growing, driven by the increasing importance of air travel and the need for efficient and reliable aircraft engines.

Market Research Overview

The Aircraft Engine Maintenance, Repair, and Overhaul (MRO) market is experiencing significant growth due to the increasing demand for automation processes in the aviation industry. New-generation aircraft, including wide-body and narrow-body models, require advanced engine technology such as turbofans, turboprops, turboshafts, turbine engines, piston engines, and next-generation engines like the LEAP engine. MRO providers like Collins, S7 Technics, and others offer engine overhaul segment services for various aircraft types, including cargo aircraft, rotary-wing aircraft, and fixed-wing aircraft. The market is driven by factors such as technical maintenance jobs, labor force costs, workforce supply, aircraft utilization, air traffic volumes, and emerging countries' rapid urbanization and civil aviation growth. The engine MRO services market caters to both commercial and military aviation segments, with service provider partnerships, long-term joint ventures, and MRO support centers playing a crucial role in meeting the increasing demand for engine maintenance. The market is also witnessing an increase in new contracts for engine maintenance, repair, and overhaul activities for Airbus A321 and A320 models in the general aviation sector. Safety, turnaround time, and digitization are key priorities for engine MRO services, with expensive material requirements and newer generation engines driving up costs. Defense funding and military forces' fleet expansion plans are also contributing to the growth of the engine MRO market. Air travel continues to be a significant contributor to the market, with aircraft movements and passenger traffic increasing steadily. The component requirements for engine maintenance are also driving the growth of tier-II and tier-III suppliers in the market. Training services and aviation training centers are essential for maintaining the required skill sets for engine maintenance personnel.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio