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Aircraft Component MRO Market: Global Industry Trends, Share, Size, Growth, Opportunity And Forecast 2022-2027

Published on: Feb 2022 | From USD $2499 | Published By: IMARCGROUP | Number Of Pages: 108

The global aircraft component MRO market reached a value of US$ 18.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.5 Billion by 2027, exhibiting a CAGR of 4.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Aircraft component MRO, also known as maintenance, repair and overhaul, is a set of administrative, managerial, and supervision activities. They are employed for restoring aircraft components to their original state of performance and function. MRO in the aeronautical industry has strict and precise requirements stated by the airworthiness authorities to guarantee the safety of cargo, passengers and aircrew. It plays a vital role in maintaining product quality, reliability and availability. The services encompass components including mechanical actuators, avionics and electronics, fuel systems and carburetors, and landing gear and auxiliary power units (APUs).

Market Trends:

Over the past few years, airline operators and OEMs have been using radio-frequency identification (RFID) in the commercial aerospace component MRO market to enhance the cost-effectiveness of the services provided by them. However, airline companies are now outsourcing these activities to third-party organizations for contract organizations. As aircraft component MRO accounts for a significant portion of airline expenses, this trend has created numerous growth opportunities in the market. In addition to this, improving economic conditions in regions like the Middle East, Asia and Africa has led to the demand for low-cost air travel services. Apart from this, the introduction of innovative software technologies has helped OEMs in fulfilling the airworthiness standards of EASA and FAA. Such software programs offer features like labor-hour tracking, maintenance scheduling, and service bulletins for airline operators and service providers.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aircraft component MRO market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on aircraft type, component and application.

Breakup by Aircraft Type:

Narrow Body
Wide-Body
Regional Jets/Turboprop

Breakup by Component:

Fuselage
Empennage
Landing Gear
Wings
Engine
Others

Breakup by Application:

Commercial Air Transport
Business and General Aviation
Military Aviation

Breakup by Region:

Europe
North America
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Delta TechOps, Lufthansa Technik AG, Air France Industries KLM Engineering & Maintenance, Hong Kong Aircraft Engineering Company Limited, Honeywell International Inc., ST Engineering, AAR Corp., Barnes Aerospace, Inc. (Barnes Group), FL Technics (Avia Solutions Group) and Turkish Technic Inc. (Turkish Airlines), etc. Key Questions Answered in This Report:

How has the global aircraft component MRO market performed so far and how will it perform in the coming years?
What are the key regional markets in the global aircraft component MRO industry?
What has been the impact COVID-19 on the global aircraft component MRO industry?
What is the breakup of the market based on the aircraft type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the global aircraft component MRO industry?
What are the key driving factors and challenges in the global aircraft component MRO industry?
What is the structure of the global aircraft component MRO industry and who are the key players?
What is the degree of competition in the global aircraft component MRO industry?
What are the profit margins in the global aircraft component MRO industry?

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Aircraft Component MRO Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Aircraft Type
5.5 Market Breakup by Component
5.6 Market Breakup by Application
5.7 Market Breakup by Region
5.8 Market Forecast
6 Market Breakup by Aircraft Type
6.1 Narrow-Body
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Wide-Body
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Regional Jets/Turboprop
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Component
7.1 Fuselage
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Empennage
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Landing Gear
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Wings
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Engine
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by Application
8.1 Commercial Air Transport
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Business and General Aviation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Military Aviation
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 Europe
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 North America
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Delta TechOps
14.3.2 Lufthansa Technik AG
14.3.3 Air France Industries KLM Engineering & Maintenance
14.3.4 Hong Kong Aircraft Engineering Company Limited
14.3.5 Honeywell International Inc.
14.3.6 ST Engineering
14.3.7 AAR Corp.
14.3.8 Barnes Aerospace, Inc. (Barnes Group)
14.3.9 FL Technics (Avia Solutions Group)
14.3.10 Turkish Technic Inc. (Turkish Airlines)

Figure 1: Global: Aircraft Component MRO Market: Major Drivers and Challenges
Figure 2: Global: Aircraft Component MRO Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Aircraft Component MRO Market: Breakup by Aircraft Type (in %), 2021
Figure 4: Global: Aircraft Component MRO Market: Breakup by Component (in %), 2021
Figure 5: Global: Aircraft Component MRO Market: Breakup by Application (in %), 2021
Figure 6: Global: Aircraft Component MRO Market: Breakup by Region (in %), 2021
Figure 7: Global: Aircraft Component MRO Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 8: Global: Aircraft Component MRO Industry: SWOT Analysis
Figure 9: Global: Aircraft Component MRO Industry: Value Chain Analysis
Figure 10: Global: Aircraft Component MRO Industry: Porter’s Five Forces Analysis
Figure 11: Global: Aircraft Component MRO (Narrow-Body) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Aircraft Component MRO (Narrow-Body) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Aircraft Component MRO (Wide-Body) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Aircraft Component MRO (Wide-Body) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Aircraft Component MRO (Regional Jets/Turboprop) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Aircraft Component MRO (Regional Jets/Turboprop) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Aircraft Component MRO (Fuselage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Aircraft Component MRO (Fuselage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Aircraft Component MRO (Empennage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Aircraft Component MRO (Empennage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Aircraft Component MRO (Landing Gear) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Aircraft Component MRO (Landing Gear) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Aircraft Component MRO (Wings) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Aircraft Component MRO (Wings) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Aircraft Component MRO (Engine) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Aircraft Component MRO (Engine) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Aircraft Component MRO (Other Components) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Aircraft Component MRO (Other Components) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Aircraft Component MRO (Commercial Air Transport) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Aircraft Component MRO (Commercial Air Transport) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Aircraft Component MRO (Business and General Aviation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Aircraft Component MRO (Business and General Aviation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Aircraft Component MRO (Military Aviation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Aircraft Component MRO (Military Aviation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Europe: Aircraft Component MRO Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Europe: Aircraft Component MRO Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: North America: Aircraft Component MRO Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: North America: Aircraft Component MRO Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Asia Pacific: Aircraft Component MRO Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Asia Pacific: Aircraft Component MRO Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Middle East and Africa: Aircraft Component MRO Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Middle East and Africa: Aircraft Component MRO Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Latin America: Aircraft Component MRO Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Latin America: Aircraft Component MRO Market Forecast: Sales Value (in Million US$), 2022-2027

Table 1: Global: Aircraft Component MRO Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Aircraft Component MRO Market Forecast: Breakup by Aircraft Type (in Million US$), 2022-2027
Table 3: Global: Aircraft Component MRO Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 4: Global: Aircraft Component MRO Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Aircraft Component MRO Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Aircraft Component MRO Market Structure
Table 7: Global: Aircraft Component MRO Market: Key Players

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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