LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global commercial aircraft MRO market since 2015 and the market is poised to grow by USD 17.38 billion during 2019-2023, progressing at a CAGR of more than 4% during the forecast period. Request free sample pages
Read the 120-page report with TOC on “Commercial Aircraft MRO Market Analysis Report by Type (Engine, Airframe, Component, and Line), Geography (Americas, APAC, and EMEA), and the Segment Forecasts, 2019-2023”.
The market is driven by the adoption of predictive maintenance tools. In addition, the increased service life of aircraft is anticipated to boost the growth of the commercial aircraft MRO market.
Current generation aircraft engines are digitally controlled and their power output can be monitored at different levels of flight using sensors. These sensors collect multi-dimensional data such as temperature, pressure, vibration, and oil debris in real-time. As this data can be integrated with technical tools, modern MRO operators are focusing on implementing business intelligence for planning and forecasting airtime and engine maintenance work. This significantly reduces the maintenance costs of aero-engine parts and components. Thus, the rising adoption of predictive maintenance tools is expected to have a positive impact on the growth of the global commercial aircraft MRO market during the forecast period.
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Major Five Commercial Aircraft MRO Market Companies:
AAR operates its business through segments such as Aviation Services and Expeditionary Services. The company offers a wide range of services to commercial airlines. Its core MRO capabilities include aircraft overhaul and modification services, wheels and brakes services, and component repair services.
Hong Kong Aircraft Engineering Company
Hong Kong Aircraft Engineering Company operates its business through segments such as HAECO Hong Kong, HAECO Americas, HAECO Xiamen, TEXL, and Other segments. The company offers a wide range of MRO services to commercial aircraft. Some of the services offered by the company include airframe services, line services, component services, engine services, inventory technical management, fleet technical management, and others.
Lufthansa Technik operates its business through segments such as Maintenance, Aircraft Overhaul, Engines, Components, Aircraft Systems, Development and Production of Cabin Products, Digital Product Development, and VIP Aircraft. The company offers a wide portfolio of technology, training and logistics services and supplementary services for all aspects of aircraft operations.
MTU AERO ENGINES
MTU AERO ENGINES operates its business through segments such as OEM segment and MRO segment. The company offers a wide range of MRO services for commercial aircraft operators. Its service portfolio includes engine portfolio management, engine maintenance and overhaul, on-site services, and others.
Singapore Technologies Engineering
Singapore Technologies Engineering operates its business through segments such as Aerospace, Electronics, Land Systems, Marine, and Others. The company offers a wide range of repair and overhaul services for the mechanical and avionics components of commercial aircraft. Its service portfolio includes airframe, component, and engine MRO services.
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Technavio has segmented the commercial aircraft MRO market based on the type and region.
Commercial Aircraft MRO Type Outlook (Revenue, USD Billion, 2019 - 2023)
Commercial Aircraft MRO Regional Outlook (Revenue, USD Billion, 2019 - 2023)
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