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Aircraft Engine MRO Market Overview
Aircraft Engine MRO Market Size was valued at USD 22.1 billion in 2022. The aircraft engine MRO market industry is projected to grow from USD 23.25 Billion in 2023 to USD 31.51 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2023 – 2030). The fleets of airlines and armed forces are growing at a very quick pace. These are the main market factors boosting market expansion.
In such nations, several brand-new MRO service centres have opened in recent years. Regional firms are become more prevalent in the MRO sector for aviation engines. Aircraft carrying goods have become more common as international trade between nations has grown.
Consequently, regular inspections or repairs of aeroplanes are needed for optimal efficiency and safety due to a number of factors, including the development of next-generation engines and the rapid expansion of fleets. The necessity of efficiently maintaining aircraft engines and engine components drives the aircraft engine maintenance and repair (MRO) sector, in addition to tighter restrictions on flying laws.
Furthermore, aircraft engine maintenance has been aided recently by the introduction of the leading edge aviation propulsion (LEAP) engine, the market’s most fuel-efficient engine. The requirement for correct engine and component maintenance is expected to fuel growth in the aircraft engine maintenance and repair (MRO) market. By 2028, it is anticipated that there will be over 38,000 aircraft in operation, which implies the market for aeroplane maintenance would have grown to $115 billion.
Investments in MRO software for aircraft engines are also anticipated to open up new commercial prospects. Aircraft maintenance, repair, and overhaul (MRO) software includes features like work order management, budget forecasting, maintenance schedule, logbook, maintenance tracking, flight time, maintenance bulletin management, and maintenance scheduling.
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Segmentation
Turbine and piston engines are included in the market segmentation of aircraft engine maintenance and repair (MRO) depending on engine type. With 58% of market revenue, the turbine engine category led the aircraft engine maintenance and repair (MRO) market.
Fixed-wing and rotary-wing aircraft are included in the market segmentation for aviation engine maintenance and repair (MRO) based on aircraft type. The category with fixed wings brought in the highest revenue (73.5%).
Based on application, the aircraft engine maintenance and repair market data covers both military and commercial aviation. With 16.8 billion in sales, or 75.9% of the market, the aircraft engine maintenance and repair (MRO) industry was controlled by the civil aviation sector.
The report offers market insights for aviation engine maintenance and repair (MRO) by region for North America, Europe, Asia-Pacific, and the rest of the world. This industry will be dominated by the MRO business for aircraft engines in Asia Pacific. Asia Pacific now operates one-third of the world’s aircraft fleet; this percentage is anticipated to increase over the projection period. Airlines in the Asia Pacific area can also prolong the life of their aircraft fleets because of the sophisticated and extensively accessible MRO alternatives offered in this market. Because of the region’s higher clientele, alluring investment prospects, and affordable labour, MRO providers frequently focus on it.
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Key Players
Major players in the aircraft engine MRO market, including
GE Aviation (U.S.),
Rolls-Royce (U.K.),
Pratt & Whitney (U.S.),
Safran Aircraft Engines (Paris),
ST Aerospace (Singapore),
SIA Engineering Company (Singapore),
Lufthansa Technik (Germany),
Air France Industries KLM Engineering & Maintenance (France),
MTU Aero Engines (Germany),
Delta TechOps (U.S.).
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