Aviation Turbine MRO: Introduction
- Aviation turbine MRO refers to routine inspections, modifications, checks, overhauls, and repairs carried out on the aircraft turbine. The maintenance of turbine in the aviation industry is highly regulated in order to ensure safe and correct functioning during flight.
- Aviation turbine MRO plays a vital role in sustaining and extending the lifespan of an aviation turbine. Revamp, repair, and protection of aircraft turbine is the function of aviation turbine MRO.
Key Drivers and Restraints of Aviation Turbine MRO Market
- Rise in number of aging fleet of aircraft in the commercial & military aviation industry is expected to drive the global aviation turbine MRO market
- Advancement in technologies to optimize fuel efficiency and increase in focus of OEM on MRO activities are anticipated to boost the global aviation turbine MRO market during the forecast period. Furthermore, rise in focus on enhancing aircraft safety in the aviation industry is expected to propel the global aviation turbine MRO market.
- Increase in investments in development of aviation infrastructure and launch of new airlines are key factors estimated to boost the demand for aviation turbine MRO during the forecast period. However, presence of long term contracts of aircraft operators with MRO service providers is projected to hamper the market in the near future.
COVID-19 Impact Analysis
- Governments of several countries across the globe have imposed strict lockdown to limit the spread of the COVID-19 pandemic. Movement of individuals and economic activities related to essential goods and services have come to a halt because of the lockdowns. This has adversely affected the demand for air travel, thereby hampering the demand for aviation turbine MRO.
Commercial Aviation Application Segment Expected to Hold Prominent Share of Global Market
- The global aviation turbine MRO market can be segmented based on application and region
- In terms of application, the global aviation turbine MRO market can be classified into commercial aviation, military aviation, and general aviation. Growth of the commercial aviation segment can be ascribed to the increase in number of air travelers.
Asia Pacific Expected to Constitute Major Share of Global Aviation Turbine MRO Market
- In terms of region, the global aviation turbine MRO market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- North America is projected to hold vital share of the global market during the forecast period due to the increase in number of aging military aircraft fleet in the region
- The aviation turbine MRO market in Asia Pacific is projected to expand at a rapid pace during the forecast period. The aviation turbine MRO market in the region is driven by increase in passenger traffic. Rapid industrialization & urbanization, increase in per capita income, and strong economic growth are some of the major factors propelling the demand for air travel in Asia Pacific, primarily in developing countries of the region. Furthermore, expansion of MRO network across Asia Pacific is expected to drive the aviation turbine MRO market in the region from 2020 to 2030. InterGlobe Aviation Ltd announced plans to build 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.
- Europe is projected to dominate the aviation turbine MRO market during the forecast period. This can be ascribed to the increase in investment in expansion of aviation infrastructure in the region.
Key Players Operating in Global Market
Leading companies operating in the global aviation turbine MRO market include:
- Barnes Group Inc.
- Hexagon AB
- GE Aviation
- TurbineAero, Inc.
Global Aviation Turbine MRO Market: Research Scope
Global Aviation Turbine MRO Market, by Application
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
- 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.