Spiraling Air Traffic & Rise in Air Miles Traveled Drive the Aircraft Maintenance, Repair and Overhaul Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) August 08, 2014
Follow us on LinkedIn – An engineering marvel of the 21st century, airplanes have revolutionized transportation, generating far reaching benefits to society and modern life. By connecting countries and cultures, air transport opens up access to global markets, encourages trade and tourism, and drives economic and social development. The development of modern aircraft engineered to provide fuel efficiency of over 4 liters per 100 passenger kilometers is playing a major role in reducing costs and making air travel increasingly affordable to a broader base of population. This falling cost of air transport services brings numerous economic and social benefits. While cheaper air cargo transport encourages international trade, the affordable passenger air fares encourage people’s leisure and cultural curiosities by opening up a wide choice of affordable destinations for tourism.
Against this backdrop of an efficiently evolving air transport industry, the number of aircraft in commercial service is increasing. A strong and stable market outlook for the airline industry encourages an equally healthy outlook for the growth and expansion of the global aircraft fleet. With over 20,000 aircraft in commercial service worldwide operated by over 1300 commercial airline companies, the aircraft MRO market is poised to benefit. Aircraft MRO represents an important downstream market of critical importance to the airline industry. MRO service provides play a vital role in ensuring the safety and reliability of the world’s airline fleets. From ensuring aircraft safety and assuring air worthiness, MROs help improve aviation safety, which is critical for the continued growth of the air transport industry.
Given that maintenance is one of the most vital elements of aircraft ownership, the global aircraft MRO market is closely tied to the health of the airline and air transport industry. Changes in air passenger and cargo traffic, retirement and expansion of aircraft fleet, increased aircraft flying hours, capacity utilization rates, and fleet modernization initiatives undertaken by airline companies represent factors which influence growth opportunities in aircraft MRO market. Growth in international trade, development of the travel and tourism industry, health of the corporate sector and spending on business travel, and development of airport, air traffic management infrastructure and air flight paths typically influence the business environment in the commercial aviation industry, which in turn impacts fleet planning and CAPEX and OPEX trends for aircraft/airplanes. Increased OPEX by airline operates translates into higher revenues for MRO service providers. Opportunities in the MRO market are especially influenced by fleet decisions made by airline companies.
Especially expected to benefit growth in the market is the growing demand for MRO services for composite components. Increased use of advanced composites in primary and secondary aerostructures, engine components, control surfaces, and cabin interiors, is a key factor fuelling the trend. As technologically advanced aerospace composites begin to find widespread use in aircraft component manufacturing, specialized MRO services for these composite parts is forecast to witness robust growth. Increasing composite content requires MRO readiness to service these components as newer designs and material properties require understanding, training and experience to handle the composite challenge. The currently limited service experience in complex composite repairs offers huge untapped potential for MRO to hone their expertise in this field.
As stated by the new market research report on Aircraft Maintenance, Repair and Overhaul (MRO), Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 6.4% over the analysis period. Growth in the region is driven by increased outsourcing by airline companies to low cost Asian countries, rapid mushrooming of Low Cost Carriers (LCCs), increasing cargo and passenger hubs in countries such as China and India, and a growing base of affluent middle class population with the ability to afford air travel.
Major players covered in the report include Air France KLM Engineering & Maintenance, AAR Corp, Ameco Beijing, Bedek Aviation Group, Delta TechOps, Aviation Technical Services Inc., Hong Kong Aircraft Engineering Company, Lufthansa Technik, MTU AeroEngines, Singapore Technologies Aerospace, SR Technics, Snecma Services, STAECO, and TIMCO Aviation Services Inc., among others.
The research report titled “Aircraft Maintenance, Repair and Overhaul (MRO): A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, United Kingdom, Spain, Russia and Rest of Europe) , Asia-Pacific (China, India, South Korea, Singapore and Rest of Asia-Pacific), Middle-East and Latin-America. Service segments analyzed in the report include Heavy Airframe Maintenance, Modifications, Components Maintenance, Engine Overhaul and Line Maintenance.
For more details about this comprehensive market research report, please visit
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/