Air Transport Mro Market

Air Transport MRO Market: Substantial Increase in Air Tourist Transit and Infrastructure Investments to Drive Revenue Growth: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028

  • 2018-07-25
  • REP-GB-115
  • 280 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Air Transport Mro Market

This study offers a comprehensive, 360 degree analysis on the Air Transport Mro market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Air Transport Mro market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Aircraft maintenance services includes is the overhaul, repair, inspection or modification of an aircraft, aircraft cabin interior , aircraft lighting or aircraft component. Maintenance tasks ensure compliance with Airworthiness Instructions. The maintenance of aircraft is highly regulated, in order to ensure safe and correct functioning of all the components at the time of flight. These directives are coordinated under international standards, maintained by bodies such as the International Civil Aviation Organization (ICAO). Some of the applications considered under the air transport MRO market report include airframe, engine, component and line MRO services. The global air transport MRO market is estimated to be valued at US$ 76,637.9 Mn by 2018 end.

Increasing passenger travel demand is paving way for the growth of the air transport MRO market

Air travel passengers are increasing day-by-day across the globe, primarily due to the establishment of more than 700 routes for better connectivity. According to the International Air Transport Association, the global passenger traffic increased by 7.6% in 2017, which is more than the average annual growth witnessed during the last ten years, i.e. 5.5%. This increase will create new challenges for the government to provide appropriate infrastructure, technology and services that can accommodate this growth and to assure that the regulations and taxes do not become a restraining factor for growth. This growth in passenger traffic will also drive the aviation market, in turn, leading to the growth of air transport MRO market.

Upcoming air transport MRO service hubs in emerging aviation markets will lead to the growth of air transport MRO market over the forecast period

Long-term prospects for aviation will remain strong. Tier 1 and Tier 2 service providers are investing in and entering into strategic collaborations with airport handler or aircraft ground support equipment companies based in Asia Pacific to enhance their capacity to handle the rapidly expanding air transport MRO market. By collaborating with airline companies, the companies are looking to enhance their end user reach in markets by adding new clients to their list as well as improving responsiveness and services to customers in the continuously growing Asian air transport MRO market. The trend will certainly emerge as a competitive strategy in the coming years and is visible across all major service providers in the air transport MRO market.

Air transport MRO market service providers are focusing on expanding their presence in emerging aviation markets to capitalize on the growing demand for aviation industry and MRO services due to lower capital and labour costs in these regions. The market for air transport MRO in countries, such as China, India, Indonesia, Brazil and Mexico, is projected to benefit significantly from the growing demand for the aviation industry.

Strong outlook for the global aerospace and defense market to boost revenue growth of air transport MRO market

The outlook for the global aerospace and defense market is strong. According to MarketLine, the global aerospace and defense market generated a total revenue of approximately $988.7 billion in 2016. Furthermore, the market is expected to grow at a compound annual growth rate (CAGR) of 5% between 2016 and 2021 and will reach a value of approximately $1,249.5 billion by 2021.

Air transport MRO market service providers provide services for all types of aircrafts, including new and old fleet, narrow body aircrafts, wide body aircrafts, regional jets, turbo prop aircrafts and general aviation markets as well as military and space. The companies are well positioned to leverage their expertise to cater to the growing aerospace and defense market, thereby enhancing their revenue and air transport MRO market share in the medium term.

Market Value Forecast of Air Transport MRO Market

The overall Air Transport MRO market is estimated to be valued at US$ 123,351 Mn by 2028, projecting a CAGR of 4.9% over the forecast period.

On the basis of Application, the global air transport MRO market can be segmented into airframe, engine, component and line. Engine segment is expected to account for 39.2% volume share in 2018. On the basis of aircraft type, the global Air Transport MRO market can be segmented into Narrow Body Aircraft, Wide Body Aircraft, Regional Jet and TurboProp. Narrow body aircraft segment is expected to dominate the air transport MRO market over the forecast period and account for over 52.8% value share in 2018. High growth of the segment can mainly be attributed to the huge existing fleet size of narrow body aircrafts.

North America is expected to remain the dominant region in the air transport MRO market over the forecast period

On the basis of geography, the global Air Transport MRO market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia & Pacific, China, India, Middle East & Africa and Japan. The North America Air Transport MRO market accounts for a major value share and is projected to retain its dominance in the global air transport MRO market over the forecast period. The U.S. air transport MRO market is expected to account for 77% of market share in the North America market, by value, by the end of 2018, projecting a CAGR of 4.5% between 2018 and 2028. Air Transport MRO in Canada is expected to represent a total incremental opportunity of US$ 2,888.2 Mn between 2018 and 2028.

Future Market Insights offers a 10-year forecast for the Air Transport MRO between 2018 and 2028. In terms of value, the market is expected to register a CAGR of 4.9% during the forecast period (2018–2028). The main objective of the report is to offer insights on the advancements in the Global Air Transport MRO. The study provides market dynamics that are expected to influence the current environment and future status of the Air Transport MRO over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the Air Transport MRO.

A section of the report discusses how the overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. Air Transport MRO is expected to grow at a rapid pace in near future. Moreover, rapid growth of the aviation industry -- due to expansion of aircraft fleet, establishment of new airports and infrastructural developments in existing airports --, low replacement rate of existing old aircrafts and expanding aviation routes are anticipated to create healthy growth opportunities in the Air Transport MRO market.

The report provides detailed market share analysis of the Air Transport MRO on the basis of key manufacturers. A section of the report highlights country-wise Air Transport MRO. It provides a market outlook for 2018–2028 and sets the forecast within the context of the report. The report sheds light on key developments and activities executed by the prominent service providers operating in the air transport MRO market.

Key Segments Covered in Air Transport MRO Market Report:

On the basis of application, the Air Transport MRO market can be segmented into:

  • Air frame
  • Engine
  • Component
  • Line

On the Basis of aircraft type, the Air Transport MRO market can be segmented into:

  • Narrow Body Aircraft
  • Wide Body Aircraft
  • Regional Jet
  • Turbo Prop

By Region, the Air Transport MRO market can be segmented into:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • Japan
  • India
  • South East Asia & Others (SEA)
  • Middle East & Africa (MEA)

A detailed analysis has been provided for every segment, in terms of market size analysis for Air Transport MRO.

The report starts with the market overview and provides market definition and analysis about drivers, restraints, opportunities, supply chain analysis and key trends in the air transport MRO market. The next section includes global market analysis, analysis by application and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market and cover present scenario and future prospects. For market data analysis, the report considers 2017 as the base year, with air transport MRO market numbers estimated for 2018 and forecast made for 2018–2028.

It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the same on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities for market players.

Another key feature of this air transport MRO market report is the analysis of all key segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as in identifying potential resources from a sales and delivery perspective in the Air Transport MRO.

Research methodology of Air Transport MRO market

The report titled “Air Transport MRO Market” focuses on providing information regarding the value of MRO aircraft services from a global perspective. The research on the said market was initiated thorough secondary research on the product, using both top-down and bottom-up approaches, right down to the country and segmental level. Aircraft fleet, market trends, growth projections and the demand placed by various aircraft passengers and cargo carriers were taken into consideration to arrive at the total market. In addition to the above secondary research, yearly revenue generated by the various applications of air transport MRO service was estimated.

Furthermore, the yearly revenue generated from each aircraft from each application of air transport MRO were obtained from both primary and secondary sources and then benchmarked at the regional level. Fluctuations in yearly service cost over the forecast period is based on the historic market trends and expected percentage change in the upcoming years on the basis of investment is done on the patent market and the related industry. Any decline or increase in service cost in the upcoming years is kept linear for all the regions. After confirming the yearly revenue generated from each aircraft from air transport MRO, the value was multiplied by the global aircraft fleet to reach at the global air transport MRO market.

The air transport MRO market value, thus, deduced was once again cross verified and validated from the supply side. FMI’s proprietary regression analysis forecast model has been adopted to generate the market estimation for the forecast years and takes into account the effects of macroeconomic factors impacting the overall air transport MRO market and was further validated by the primary respondents belonging to different levels across the entire value chain of air transport MRO market, such as OEM service providers and independent service providers.

Air Transport MRO market participants

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of manufacturers have also been included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the Air Transport MRO. Key players in global Air Transport MRO include:

  • AAR Corporation
  • KLM Engineering & Maintenance
  • Delta TechOps
  • HAECO Ltd.
  • Lufthansa Technik AG
  • Turkish Technic Inc.
  • Singapore Technologies Engineering Ltd
  • Guangzhou Aircraft Maintenance Engineering Company Limited
  • Sabena Technics
  • Aeroman
  • Airbus SAS
  • SIA Engineering Company (SIAEC)

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