LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global aviation MRO logistics market provides an analysis of the most important drivers expected to impact the market outlook from 2018-2022. Technavio defines a prominent driver as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global aviation MRO logistics market will grow at a CAGR of nearly 5% during the forecast period. The use of blockchain in the logistics industry is a major trend in the market.
A blockchain is a digitalized and distributed transaction ledger. It has identical copies being maintained on multiple computer systems, which are controlled by different stakeholders. Essentially, a blockchain system uses a chain of cryptographically protected records to expose the details of transactions to all entities and distribute records across the network of contributing nodes or computer systems. This eradicates the need for a central authority to maintain records, making processes more efficient and cost-effective. Logistics companies are implementing the blockchain as a medium to improve efficiency and security in the supply chain.
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In this report, Technavio highlights the growing aviation MRO industry as one of the key factors driving the global aviation MRO logistics market:
Growing aviation MRO industry
The global aviation industry has been growing significantly since the last few years. The return on investment capital (ROIC) grew by around 5% in 2016. The increasing ROIC can be correlated to the decrease in fuel prices around the world. The jet fuel price decreased by nearly half in 2016 when compared with that in 2014. The changing dynamics created by falling fuel prices led to better growth prospects for the aviation industry. Considering the profit margins, low-cost carriers are significant beneficiaries of high-profit margins. The expanding aviation industry will provide thrust for the global aviation MRO market during the forecast period.
“The top contributing markets have been North America and APAC. They accounted for nearly 30% of the total MRO for aircraft as of 2017. The notable air travel in developing countries followed by the high need for upgrading the existing aircraft will drive the demand for MRO in the aviation industry. The growing demand for MRO in the aviation industry will require effective logistics services to efficiently carry out MRO of aircraft with less cost incurrence and better reliability,” says a senior analyst at Technavio for research on transportation and distribution.
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Global aviation MRO logistics market segmentation
This market research report segments the global aviation MRO logistics market into the following end-users (civil aviation, military aviation, and business aviation) and key regions (the Americas, APAC, and EMEA).
EMEA led the global aviation MRO logistics market in 2017 by contributing to a market share of close to 38%. It was followed by the Americas and APAC respectively. EMEA will dominate the global market throughout the forecast period.
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