Air Transport MRO - Global Market Outlook (2019-2027)
発行: Stratistics Market Research Consulting
ページ情報: 英文 156 Pages
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
According to Stratistics MRC, the Global Air Transport MRO Market is accounted for $84.12 billion in 2019 and is expected to reach $141.33 billion by 2027 growing at a CAGR of 6.7% during the forecast period. Some of the key factors propelling the market growth include rise in air passenger traffic, fleet iterations, need to enhance operability & efficiency, and requirement for disassembling, checking, and repairing of various parts of aircraft. However, lack of skilled workforce, and higher maintenance cost is expected to restrain the air transport MRO market growth. Moreover, blockchain technology is anticipated to provide lucrative opportunities for the manufacturers in the air transport MRO industry. The manufacturers are focusing on integrated innovative solutions such as blockchain technology, which enables end users to track MRO activities and allow traceability, resilience, and organized integration.
Air transport maintenance, repair, and overhaul (MRO) deals with compliance to the safety instructions and airworthiness. It is highly regulated by enforcing stringent rules and regulations by the government for the operational functioning of the aircraft during the flight. It is one of the major expenditure by the airlines as MRO has been mandated by the International Civil Aviation Organization. The MRO sector needs further enhancements of skillsets and technicians, owing to increase in trend of digitization and rise in need for technological advancements to keep up with the industry trends.
By aircraft type, narrow body segment is expected to grow at the significant rate during the forecast period. Due to its extended range, maximum take-off weight and fuel efficiency, narrow body aircraft is most suitable for low-cost carrier. AirBus and Boeing, the two major players in aircraft manufacturing have delivered over 1,200 narrow body aircrafts. In addition, both the players are committed to increase their production rate which will further raise the narrow body market growth during the forecast period.
On the basis of geography, Asia Pacific is projected to have considerable market growth during the forecast period, due to growing middle class population. With the economic development of Asia Pacific, in particular China and India are the major countries where middle class population is exploding. This large population with its growing inclination towards air travel is estimated to drive the market growth. In addition, lower labor rate and rapid development of infrastructure in China and India is expected to further boost the air transport MRO market.
Some of the key players in aircraft cable market include Delta TechOps, AAR Corporation, GE Aviation, John Swire & Sons (H.K.) Ltd., KLM Engineering & Maintenance, United Technologies Corporation (Pratt and Whitney division), HAECO Ltd., Collins Aerospace, Airbus S.A.S., Deutsche Lufthansa AG, Lufthansa Technik AG, Israel Aerospace Industries (IAI), Turkish Technic Inc., TIMCO Aviation Services, Inc., Sabena Technics, Singapore Technologies Engineering Ltd, Guangzhou Aircraft Maintenance Engineering Company Limited, SIA Engineering Company (SIAEC), Mubadala Aerospace, and British Airways PLC.
Aircraft Types Covered:
End Users covered:
Provider Types Covered:
What our report offers:
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options: