Aircraft Maintenance, Repair And Overhauling Services Global Market To Reach A Value Of About $87.6 Billion By 2025

11 Jan, 2021

The aircraft maintenance, repair and overhauling services market consists of sales of aircraft maintenance, repair and overhauling (MRO) services and related goods by entities (organizations, sole traders or partnerships) that maintain, repair and overhaul commercial aircraft including helicopters, gliders, drones, aircraft turbines, aircraft engines and rocket engines. The market numbers in this report include sales of spare parts to end consumers by aircraft MRO providers that are used during the aircraft MRO activities.

Global Aircraft Maintenance, Repair And Overhauling Services Market Size And Drivers:

The global aircraft maintenance, repair and overhauling services market is expected to grow from $63.19 billion in 2020 to $68.06 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $87.6 billion in 2025 at a CAGR of 7%.
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in defense market, thus driving the market during the forecast period.

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Trends In The Global Aircraft Maintenance, Repair And Overhauling Services Market

Digital thread and digital twin are two interlinked concepts trending in the aircraft parts manufacturing, repair & maintenance market. Digital thread is a communication framework that allows connected data flow throughout the lifecycle and across functions such as design, engineering, production and maintenance providing an integrated, authoritative, up-to-the-minute view of the asset`s data that can be accessed at anytime, anywhere. Digital twin includes design specifications and engineering models describing its geometry, materials, parts and behavior which give a digital model of a particular product. Both concepts analyze data captured digitally from end-to-end throughout a product`s lifecycle beginning with design and extending through maintenance, repair and overhaul to improve the performance of future programs. In aircraft maintenance complexity, this helps in maintaining digital records, minimizing downtime, and streamlining regulatory compliance.

Global Aircraft Maintenance, Repair And Overhauling Services Market Segments:

The global aircraft maintenance, repair and overhauling services market is further segmented based on type and geography.
By Type: Commercial Aircrafts MRO Services, Commercial Helicopters MRO Services, Commercial Gliders and Drones MRO Services, Aircraft Turbines MRO Services, Aircraft Engines MRO Services, Rocket Engines MRO Services
By Aircraft Division: Engine, Cabin Interior, Airframe, Avionics, Others
By Size: Wide-Body, Narrow-Body, Regional, Others
By Service Type: Annual Maintenance Contract, Individual Works, Others
By Geography: The global aircraft maintenance, repair and overhauling services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific was the largest region in the global aircraft maintenance, repair and overhauling services market, accounting for 38% of the total market.

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Aircraft Maintenance, Repair And Overhauling Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides aircraft maintenance, repair and overhauling services market overviews, analyzes and forecasts market size and growth for the global aircraft maintenance, repair and overhauling services market, aircraft maintenance, repair and overhauling services market share, aircraft maintenance, repair and overhauling services market players, aircraft maintenance, repair and overhauling services market segments and geographies, aircraft maintenance, repair and overhauling services market’s leading competitors’ revenues, profiles and market shares. The aircraft maintenance, repair and overhauling services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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