Press Release Description

Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market to Grow at a CAGR of around 7.32% Till 2029

The Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market is projected to grow at a CAGR of around 7.32% during the forecast period of 2024-29, cites MarkNtel Advisors in the recent research report. In 2022, the Global Aircraft MRO Services market size was calculated to be around USD 78.9 billion. The factor contributing to the growth of the Global Aircraft MRO Market is the rapid expansion of the global aviation industry comprising commercial, military, and general aircraft fleets to support economic activities.

In addition, the surging number of aging military fleets due to limited government budget allocation is resulting in the defense forces to use MRO service to ensure the operational efficiency of the aircraft. According to the Indian Air Force, as of 2022, the country's air force operates fleets aged 60 years. Moreover, airplanes are purchased with noteworthy capital investments, often costing millions of dollars for end-users. According to Airbus, an aerospace giant, their aircraft prices range from USD 98 million to USD500 million.

Therefore, airlines and leasing companies are seeking to maximize the return on their investments by operating these aircraft for extended periods, leading to the prevalence of aging fleets. These aging fleets necessitate MRO services to maintain the aircraft's operational efficiency. Therefore, airlines, cargo operators, and military forces routinely engage in maintenance services to ensure the smooth operation of their fleets, thereby driving the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market.

Furthermore, the rigorous safety regulations enforced by global aviation authorities mandate consistent maintenance and strict adherence to safety standards. Consequently, end-users are compelled to opt for maintenance services, thereby amplifying the growth of the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market.

Furthermore, the government of several countries is now focusing on purchasing new aircrafts for their air force to gain competitive advantage over other nations. This increasing deployment acts as an opportunity for the MRO providers to offer their services in the defense sector to ensure the proper functioning of the vehicle in the forthcoming years, further states the research report, “Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market Analysis, 2024.”

Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market

Segmentation Analysis

Engine Overhaul Segment Leading the Industry

Based on the service type, the market is further bifurcated into, Airframe Maintenance, Engine Overhaul, Modification, Component Repair & Maintenance, and Line Maintenance. Among them, the Engine Overhaul segment has experienced a significant growth in the market since regulatory bodies in countries like Germany and the UK are imposing increasingly stringent regulations concerning the maintenance of aircraft engines. As a result, airline operators, leasing companies, and other end-users are opting for engine overhaul maintenance services.

In addition, the growing global concern regarding carbon emissions reduction is also encouraging aircraft operators, leasing companies, and defense forces to opt for engine maintenance services to enhance aircraft fuel efficiency. Thus, the shift towards improved fuel efficiency is likely to contribute to the expansion of the engine overhaul segment within the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market in the foreseeable future.

Asia-Pacific Region Holds Prominent Share in the Market

Countries such as China, India, and others in Asia-Pacific are undergoing rapid economic expansion, accompanied by a shift in consumer preferences towards greater involvement in e-commerce. This shift has generated a significant need for aircraft to cater to passenger travel and the efficient transportation of goods. Therefore, leasing companies, airlines, and cargo operators in the Asia-Pacific region are proactively procuring aircraft. This is resulting in the higher fleet of airplanes in the region compared to other regions across the globe.

This proliferation of aircraft in the Asia-Pacific region is generating a heightened demand for Aircraft MRO Services, bolstering the Asia-Pacific's share in the Global Aircraft Maintenance, Repair and Overhaul (MRO) Services Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Delta TechOps, Lufthansa Technik AG, Air France Industries KLM Engineering & Maintenance, Hong Kong Aircraft Engineering Company Limited (HAECO), PT GMF Aero Asia TBK, Avia Solutions Group PLC, StandardAero, Emirates Engineering, MTU Aero Engines AG, Singapore Technologies Engineering Ltd, Tap Maintenance & Engineering Ltd., AAR Corporation, Textron Aviation, Inc., Euravia Engineering & Supply Co. Ltd, Air India Engineering Services Ltd, and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across various regions?
  4. How has the industry been evolving in terms of geography & services adoption?
  5. How has the competition been shaping across various regions?
  6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-29?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

Place an order
Only market data will be provided in the excel spreadsheet.

USD 3,700

The report will be delivered in PDF format without printing rights. It is advised for a single user.

USD 4,850

The report will be delivered in PDF format with printing rights. It is advised for up to five users.

USD 6,000

The report will be delivered in PDF format with printing rights and excel sheet. It is advised for companies where multiple users would like to access the report from multiple locations

USD 7,500

Need Assistance?


[email protected]
100% Safe & Secure

Strongest encryption on the website to make your purchase safe and secure