Aircraft Component MRO Market Analysis, Scope, Trends and
Forecast up to 2023
Aircraft Component MRO Market – Market Overview
Aircraft Component MRO services are essential in ensuring smooth
operation of an aircraft. The rapid aircraft fleet expansion along with the
increased focus of OEMs on providing aircraft MRO, are expected to result in an
increase in aircraft MRO expenses and as well as it is expected to add to the
growth of the market. Moreover, growing international trade between countries
have increased the frequencies of cargo planes. Thus, it is essential to
conduct timely checks or repairs of airplane components to ensure efficient
performance and safe air travel.
Air travel in emerging countries is growing, thus increasing the
demand for aircraft component MRO services. Many new aircraft component MRO
service centres have been setup in numerous countries in recent years. This
increases the participation of regional companies (tier-II or tier-III
suppliers) in the field of aircraft component MRO. Moreover, the growing
international trade between countries have increased frequencies of cargo
planes. Thus, it is essential to conduct timely checks or repairs of airplane
components to ensure efficient performance and safe air travel.
The market is driven by various factors such as increased focus of
OEMs on aircraft MRO service and rapid aircraft fleet expansion. Also, the increased
need for proper maintenance of engines & components, is driving the growth
of the aircraft component MRO market.
Key
Players:
The
leading market players in the global Aircraft Component MRO market primarily
include Delta TechOps (U.S.), Lufthansa Technik AG (Germany) , Air France
Industries KLM Engineering & Maintenance (France), HAECO (Japan), Honeywell
International (U.S.), ST Aerospace (Singapore), AAR Corp. (U.S.), Barnes
Aerospace (U.S.), FL Technics (Lithuania) and Turkish Technic, Inc. (Turkey).
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The
global aircraft component MRO market is a very dynamic and is expected to
witness high growth over the forecast period. The growth of aircraft component
MRO market is influenced by rapid fleet expansion, MRO outsourcing, and
increased focus of OEM’s on aircraft MRO service. However, environmental hazards,
retirement of maintenance-intensive aircraft and development of next-generation
aircraft are expected to hinder the growth of the aircraft component market.
AIRCRAFT
COMPONENT MRO Market – Competitive Analysis
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality aircraft component MRO services, in order to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services.
The major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario, is fueling the market growth, thereby making it an ideal time to launch new component MRO services and increase the global market share.
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality aircraft component MRO services, in order to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services.
The major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario, is fueling the market growth, thereby making it an ideal time to launch new component MRO services and increase the global market share.
Aircraft
Component MRO Market – Segments
For
the convenience of the report and enhanced understanding; The Aircraft Component MRO Market is
segmented in to 4 key dynamics
Segmentation
by Application: Commercial
Air Transport, Business and General Aviation, Military Aviation.
Segmentation
by Aircraft Types: Wide-body
Aircraft, Narrow-body Aircraft, Regional Transport Aircraft.
Segmentation
by Component: Fuselage,
Empennage, Landing Gear, Wings, Engine and Others
Segmentation
by Regions: Comprises
Geographical regions - Americas (North & Latin)
,
Europe, APAC and Middle East & Africa.
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