Dublin, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The "Aircraft Component MRO - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Aircraft Component MRO is estimated at US$17.6 Billion in 2023 and is projected to reach US$27.2 Billion by 2030, growing at a CAGR of 6.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the aircraft component MRO market is driven by several factors. Firstly, the increasing global fleet size, particularly with the rise of low-cost carriers and the expansion of air travel in emerging markets, is leading to higher demand for MRO services. Secondly, the aging of existing aircraft fleets necessitates more frequent and comprehensive maintenance to ensure continued operational safety and efficiency. Thirdly, regulatory requirements mandating regular inspections and maintenance of critical components are driving the need for specialized MRO services.
Additionally, technological advancements that improve maintenance processes and outcomes are making MRO services more attractive and essential to airline operators. As airlines strive to minimize operational disruptions and extend the lifespan of their assets, the aircraft component MRO market is expected to experience sustained growth, supported by continuous innovation and the increasing complexity of modern aircraft systems.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Narrowbody Aircraft Component MRO segment, which is expected to reach US$14.7 Billion by 2030 with a CAGR of a 6.9%. The Widebody Aircraft Component MRO segment is also set to grow at 6.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $4.8 Billion in 2023, and China, forecasted to grow at an impressive 10.4% CAGR to reach $5.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AAR Corporation, AerSale, Inc., Airbus SE, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Aircraft Component MRO Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $17.6 Billion |
| Forecasted Market Value (USD) by 2030 | $27.2 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Aircraft Component MRO - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Global Fleet Size Spurs Demand for MRO Services
- Technological Advancements in Predictive Maintenance Drives Market Growth
- Rising Focus on Operational Efficiency Strengthens Business Case
- Growing Adoption of Digital Twin Technology Generates Demand
- Enhanced Diagnostic Tools and Software Accelerate MRO Processes
- Rising Investment in MRO Infrastructure Sustains Market Growth
- Supportive Regulatory Frameworks Propel Market Dynamics
- Increasing Complexity of Aircraft Systems Drives MRO Needs
- Development of 3D Printing Techniques Expands Spare Parts Production
- Growing Focus on Reducing Downtime Spurs Demand for MRO
- Innovations in Engine Overhaul Technologies Drive Adoption
- Technological Advancements in Avionics Maintenance Strengthen Business Case
- Rising Demand for Specialized MRO Services Generates Opportunities
- Expansion of Airline Fleets in Emerging Markets Propels Market Growth
FOCUS ON SELECT PLAYERS(Total 86 Featured)
- AAR Corporation
- AerSale, Inc.
- Airbus SE
- AMETEK MRO
- Aviation Technical Services, Inc.
- Boeing Company, The
- Bombardier, Inc.
- GE Aerospace
- Honeywell Aerospace Technologies
- Honeywell International, Inc.
- Hong Kong Aircraft Engineering Co., Ltd. (HAECO Group)
- Lufthansa Technik AG
- Roder Prazision GmbH
- SIA Engineering Company
- SR Technics Switzerland Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/mdt4hu
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