Aircraft MRO Market Size, Share, Growth, Trends and Industry Forecast Report
by Susan Hill Business ConsultantThe global aircraft MRO market size is expected to reach USD
104.46 billion by 2025, registering a CAGR of 4.7% during the forecast period,
according to a new report by Grand View Research, Inc. The growing influx of
aircraft OEMs into the MRO sector traditionally dominated by specialized
maintenance providers has opened up new avenues for the market growth.
As per the International Air Transport Association
(IATA), MRO activities contribute to about 15% of the total operating cost of
the airlines. The OEMs as well as specialized MRO providers are making
significant investments in new technologies to enhance their service quality
and operational efficiency. Profitability of aviation industry hinges on the
maintenance of old fleet rather than the sale of new aircraft, which has
elevated the importance of the aircraft MRO market.
The service providers in the market constitute of separate
department of airline operators or independent MRO providers. These service
providers are transforming into full-service suppliers and their role is
expected to become a one stop-shop to cater to all of the airline’s MRO needs.
For instance, Lufthansa Technik have advanced technical capabilities and have
succeeded in selling power-by-the-hour contracts.
In North America, independent MRO providers offer
lucrative opportunities for experienced and skilled workers and attractive pay
packages to address the growing demand for maintenance activities. For
instance, mechanics and avionics technicians lead the laborers’ demand,
followed by electrical and software engineers. In 2018, the region witnessed a
steep rise in outsourcing for MRO spending.
France-based Airbus S.A.S.-one of the most prominent
aircraft manufacturers-is developing its Air+ program, which offers the
opportunity to MRO providers of collaborating with other players to seek the
best services and to develop customized MRO solutions. The company is also keen
on setting MRO service centers in Asia Pacific countries such as India within a
partnership mode.
Since February 2019, AFI KLM E&M have been
deploying mobile climbing robots in its line maintenance operations. The
company is looking forward to integrate climbing robots with Donecle drones for
aircraft inspections, used since 2016.
Further
key findings from the report suggest:
- Aircraft and engine manufacturers such as Rolls-Royce and Boeing are
putting additional focus on aircraft maintenance business and offering
total care solutions
- The opportunities for independent MRO providers are expected to
remain buoyant as airlines are expected to continue outsourcing
maintenance work for them to focus on their core business, although OEMs
are gradually foraying into the MRO space considering the profitability
involved
- Electronic systems are swiftly replacing the mechanical systems.
Increasing complexity of the electronic systems is expected to create
demand for the skilled workforce for aftermarket service and repair
activities
Access
full research report on global aircraft MRO market:
www.grandviewresearch.com/industry-analysis/aircraft-mro-market
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Created on Feb 19th 2020 07:17. Viewed 383 times.