Published: Jan, 2018
The global air transport MRO market is characterized by continuous technological innovations that are used by market players to gain a competitive edge. The market players are also inclined towards collaborations with other entities in order to transcend as a well-reckoned provider of MRO for air transport. Some of the key strategies that have now become indispensable for market players include LEAN continuous process improvement, Integrated component replacement, MRO performance benchmarking, and IT assessment of MRO. The market players require a steadfast approach to stay relevant in the market by coming up with optimal ways of providing maintenance, repairs, and operations. The prominent players in the market are China National Aviation Holding Company, Delta Air Lines, Inc., MTU Aero Engines AG, Iberia Lineas Aereas de Espana S.A., Air France-KLM SA, AAR Corporation,General Electric Company, Deutsche Lufthansa Aktiengesellschaft, John Swire & Sons HK Ltd, and British Airways PLC.
Transparency Market Research (TMR) prognosticates the growth trajectory of the market over the period from 2017 to 2026. The market value in terms of revenue is expected to touch US$ 101,941.2 mn by the end of 2026. Moderate growth rate over the forecast period is expected to take the CAGR to 4.2%. Based on the type of products, engines are anticipated to register a total revenue of US$ 14,000 Mn to dominate all other categories within the segment. The need to repair engines is the most urgent and unremitting one, which gives an upper hand to this segment.
Cross-Country Migrations of People Uptick Demand
Air traffic has been on a rise in recent times due to the propensity of the people to travel across countries and regions. This tendency to travel more often has been a consequence of increased globalization, development of the tourism industry, immigration, and emigration. This has propelled the demand for air travel which has in turn increased demand for air transport MRO. Moreover, an inclination towards traveling by flight has consolidated the market within various regions. The deployment of MRO enhances the efficiency of the entire aviation industry by making processes agile. Few of the advantages reaped out by aircraft operators include swifter ticketing, storage of critical information, and management of power. For these reasons, the airlines have embraced MROs within the industry, thus, escalating the demand within the market. Block-chain technology makes the supply chain more efficient, and if market players employ this technology, they could benefit substantially.
Economic Downturn Discourages Investment in Aviation
However, the market is threatened by several factors that have surfaced on the global setup. The financial turbulence being experienced by the world has alleviated the levels of expenditure in the aviation industry. This places a negative toll on the market and results in deficits between demand and supply. However, in order to retain economic stability, regional governments are required to invest in the aviation industry. Since maintenance, repair, and operations of aircrafts is a vital part of the aviation industry, the market can grow on account of investments in the aviation industry.
The global market for air transport MRO can be geographically segmented into Europe, North America, Latin America, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. Europe is expected to dominate all other regions account of the growing need to replace old and obsolete aircrafts in the region. Moreover, the demand for single aisle aircrafts across Eastern and Western Europe has also been a major driving force for the European market.
This review is based on a report by Transparency Market Research (TMR) titled, “
Air Transport MRO Market (Type- Engine, Components, Line, Airframe; Aircraft Type- Narrowbody Jet, Widebody Jet, Turboprop, Regional Jet; MRO Provider Type- OEM, Non-OEM MRO) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026”
The market is segmented along the following lines:
Global Air Transport MRO Market: by product type
Global Air Transport MRO Market: by aircraft type
- Narrowbody Jet
- Widebody Jet
- Regional Jet
Global Air Transport MRO Market: by MRO provider type
- Non-OEM MRO
Global Air Transport MRO Market: by geography
- North America
- Latin America
- Asia Pacific excluding Japan
- Asia Pacific
- The Middle East and Africa
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