Commercial And Military Aircraft MRO Market Analysis| APAC to Dominate Market Growth through 2023-2027
Commercial and Military Aircraft MRO Market is estimated to witness humongous revenue growth of USD 20,151.64 Mn from 2023 to 2027 as technological advancement of synthetic vision avionic systems, developments in ultrasonic inspection technologies, and incorporation of new technologies in aircraft is transforming the market landscape. It is forecasted the market will grow at a CAGR of 4.68% in the next five years.
APAC to Dominate Market Growth Worldwide
32% of the market’s growth will originate from APAC during the forecast period as the market is dominated by China, India, and Australia, which are investing heavily in modernizing their fleets of existing military aircraft. Market growth is also supported by military aircraft modernization programs in Indonesia, Thailand, and South Korea.
Moreover, OEMs and other service providers such as Airbus, Boeing, and Pratt and Whitney have also expressed strong interest in establishing their commercial and military aircraft maintenance, repair & overhaul (MRO) facilities in the region.
Technavio's Analyst Quoted ~ "Key Countries like Japan, India, South Korea, China, Australia, Taiwan, and Singapore are contributing significantly to the growth of the MRO market "
Fastest growing topography of Commercial And Military Aircraft MRO Market.
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Core Companies: Prominent names such as A J Walter Aviation Ltd., AAR Corp., Airbus SE, Avia Solutions Group PLC, Aviation Technical Services, Barnes Group Inc., Delta Air Lines Inc., General Electric Co., Israel Aerospace Industries Ltd., Lockheed Martin Corp., MRO Holdings, MTU Aero Engines AG, Raytheon Technologies Corp., Safran SA, Singapore Technologies Engineering Ltd., SR Technics Switzerland Ltd., StandardAero, Thales Group, The Boeing Co., and Turkish Airlines are some of the major market participants when it comes to the Commercial And Military Aircraft MRO Market.
Technavio has been monitoring the Commercial and Military Aircraft MRO Market's growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking along detailed profiling of the market leaders. Request for our best-selling sample report to discover more about this sector.
Commercial And Military Aircraft MRO Market Highlights of the Report for 2023-2027
