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Aircraft Maintenance: Introduction

  • Aircraft maintenance refers to tasks required to ensure the continuation of operation of an aircraft part or aircraft, including replacement, defect rectification, inspection, overhaul, and the embodiment of modifications, and compliance with airworthiness directives and repair. Aircraft maintenance is highly regulated to ensure proper and safe functioning during flight. National Aviation Authorities have to implement International Civil Aviation Organization standards to regulate maintenance tasks, personnel, and inspection system.
  • Aircraft maintenance plays an essential role in extending the lifespan of an aircraft

Key Drivers and Restraints of Aircraft Maintenance Market

  • Rise in number of aviation accident rate has boosted focus of the aviation industry on the adoption of aircraft maintenance service. This, in turn, is expected to drive the global aircraft maintenance market. Furthermore, an increase in the number of advanced new generation airplanes is also estimated to propel the aircraft maintenance market in the near future.
  • Expansion of existing aircraft capacity and ongoing investments in the development of aviation infrastructure are key factors that are estimated to boost the aircraft maintenance market during the forecast period
  • Increase in requirement of refurbishment and proper functioning of aircraft in order to maintain their optimum performance and comply with stringent regulatory norms is anticipated to stimulate the global aircraft maintenance market during the forecast period. However, high cost of maintenance service of aircraft is projected hamper the market in the near future.

COVID-19 Impact Analysis

  • Governments of several nation across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to essential goods and services, have come to a halt because of lockdowns. This has adversely affected the demand for air travel, thereby hampering the demand for aircraft maintenance.

Commercial Aviation Segment to Hold Prominent Share of Global Market

  • The global aircraft maintenance market can be segmented based on maintenance service, application, and region
  • Based on maintenance service, the global aircraft maintenance market can be segregated into line maintenance, engine maintenance, airframe heavy maintenance, and component maintenance. Line maintenance includes scheduled minor repairs, daily check of fluids, pre-flight checks, and modifications, and troubleshooting. Component maintenance is also referred to as shop maintenance. Rise in focus on repair or overhaul of specific parts of the aircraft is expected to boost the component maintenance segment of the global aircraft maintenance market.
  • In terms of application, the global aircraft maintenance market can be classified into commercial aviation, military aviation, and general aviation. Expansion of the commercial aviation segment can be attributed to a rise in passenger traffic.

Asia Pacific to Constitute Major Share of Global Aircraft Maintenance Market

  • In terms of region, the global aircraft maintenance market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • North America held a vital share of the global aircraft maintenance market in 2019. This trend is anticipated to continue during the forecast period. Rise in number of aging aircraft fleet is fueling the demand for MRO activities in the region. This, in turn, is anticipated to boost the aircraft maintenance market in North America.
  • The aircraft maintenance market in Asia Pacific is expected to expand at a significant pace during the forecast period. The market in the region is driven by expansion of MRO network across the region. For instance, InterGlobe Aviation Ltd is planning to construct the second MRO center of 13,000 sq. m at Kempegowda International Airport in Bengaluru, India. This MRO center is anticipated to become operational by the end of 2020. Furthermore, ongoing expansion and launch of new airlines, primarily in developing economies due to continuous rise in number of air traveler, is also key factor propelling the aircraft maintenance market in the region.
  • Europe is projected to dominate the global aircraft maintenance market during the forecast period. This can be ascribed to technological innovation in the design of aircraft to enhance operational efficiency.

Key Players Operating in Global Market

Leading companies operating in the global aircraft maintenance market include:

  • AAR Corporation
  • Aviation Technical Services
  • Boeing Company
  • Bombardier Inc.
  • British Airways Engineering
  • GE Aviation
  • ST Engineering
  • Pemco
  • SIA Engineering Company

Global Aircraft Maintenance Market: Research Scope

Global Aircraft Maintenance Market, by Maintenance Service

  • Line Maintenance
  • Engine Maintenance
  •  Airframe Heavy Maintenance
  • Component Maintenance

Global Aircraft Maintenance Market, by Application

  • Commercial
  • Military
  • General

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Aircraft Maintenance Market

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