New Publish Report Expects Global Air Transport MRO Market To Generate USD 110.3 BN By 2025 With A CAGR Of 5.2%
Posted On February 02, 2019
Value Market Research has added new research report based on the Global Air Transport MRO Market with the primary objective to provide latest updates on drivers, trends, restraints, forecast values and opportunities for manufacturers operating in this market. Analysis shows that the global air transport MRO market was valued USD 73.3 BN (by revenue) in 2018 and is anticipated to reach USD 110.3 BN by 2025 with a CAGR of 5.2%.
The MRO helps in reducing few duties from the aircraft operators like storage of critical information, power management, and assists in swifter ticketing. Basically, its function includes inspection and repairing of aircraft engines, electrical components, propellers, and instruments, airframes, and avionics. MRO ensures the safety of the aircraft and also cut down the overall operational cost of the aircraft. Therefore, owing to the numerous advantages offered MRO has been rapidly adopted by aviation sector thus boosting the market of air transport MRO. Some of the applications considered under the air transport MRO market include airframe, engine, component and line MRO services.
The report "Global Air Transport MRO Market Report By Application (Airframe, Engine, Components, And Line), By Aircraft Type (Narrow Body, Wide Body, Regional Jet And Turbo Pop) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025" mentions various key factors that are shaping internal as well as external competition in the market. Also, this report sheds light on important developments and activities executed by the prominent vendors operating in the market.
The report studies that the growing tourism industry and increasing cross-country migration has fueled the growth of air transport MRO market on a global basis. Establishment of new airports coupled with the infrastructural developments in existing airports is again expected to augment the market growth over the forecast timeline. Further, expanding aviation routes and rising tourism industry is also assumed to create huge growth opportunity. Adoption of MRO enhances the efficiency of the entire aviation industry as it makes the entire process smooth. Additionally, the growing need for proper maintenance, repair, and operations of aircraft is again expected to drive the market growth.
The market segmentation mentioned in the report covers application, aircraft type, and region. By application, the market has been divided into airframe, engine, components, and line. Among which, the engine is gaining hype in the market since it is an important part of the aircraft and it requires maintenance, periodic checking, and repairing on a large scale. Hence, the engine is responsible for the majority of the MRO market’s share. By aircraft type, the market has been segmented into narrow body, wide body, regional jet, and turbo pop. Out of which, narrow-body is gaining hype in the market since narrow-body is replacing existing aircraft across the aviation industry. Regional analysis has been done over the top-five regions which includes North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is dominating the global air transport MRO market and is likely to maintain its dominance over the forecast period owing to the rising replacement of the old aircraft with the new one along with increasing funding on the aviation industry by government.
The Report Segments Global Air Transport MRO Market -
By Aircraft Type
- Narrow Body
- Wide Body
- Regional Jet
- Turbo Pop
- North America
- Latin America
- Middle East and Africa
Players Profiled in the Report:
AAR Corporation, Aeroman, Airbus SAS, Delta TechOps, Guangzhou Aircraft Maintenance Engineering Company Limited, HAECO Ltd., KLM Engineering & Maintenance, Lufthansa Technik AG, Sabena Technics, SIA Engineering Company (SIAEC), Singapore Technologies Engineering Ltd. and Turkish Technic Inc.
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