Pressmeddelande - 12 November 2021 11:57

Aerospace And Defense MRO Market Size Reach US$ 130.9 Bn by 2030

The global aerospace and defense MRO market size is expected to be worth around US$ 130.9 billion by 2030, according to a new report by Vision Research Reports.

The global aerospace and defense MRO market size was valued at US$ 46.4 billion in 2020 and is anticipated to grow at a CAGR of 15.0% during forecast period 2021 to 2030.

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Aerospace And Defense MRO Market (By Product: Engine, Airframe, Line, Component; By Application: Narrow Body Aircraft, Wide Body Aircraft, Regional Aircraft, Others; By End-use: Commercial Aviation, Business & General Aviation, Military Aviation, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope	Details
Market Size	US$ 130.9 Billion by 2030
Growth Rate	CAGR of 15.0% From 2021 to 2030
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Product, Application, End-use
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	AAR Corporation; SIA Engineering Company (SIAEC) Ltd.; Embraer S.A; Air France KLM Group; Raytheon Technologies Corporation; Delta Air Lines Inc.; General Dynamics Corporation; MTU Aero Engines AG; Lufthansa Technik AG; Honeywell International Inc.; Spirit AeroSystems Inc.; Turkish Technic Inc.; Bombardier Inc.; Rolls-Royce plc; Hong Kong Aircraft Engineering Company (HAECO) Ltd.; GE Aviation; Boeing Company; Airbus SAS; ST Engineering; Magnetic MRO

Growth Factors

Expansion of fleet by low-cost airlines, coupled with increasing military spending spurred by the ongoing political conflicts and territorial disputes are expected to drive the market for aerospace and defense maintenance, repair, & overhaul (MRO) over the forecast period. The ongoing COVID-19 pandemic has resulted in lower aircraft utilization rates which led to a drop in demand for the commercial aviation MRO, whereas the cargo aviation MRO market had increased considerably owing to enhanced global trade relations. However, the defense sector was only mildly affected and reported modest growth.Steady economic growth, the prevalence of aging commercial and military aircraft fleet, and increased military spending are expected to drive the market over the forecast period.

By Product Analysis

The engine MRO segment led the market for aerospace and defense MRO and accounted for the largest revenue share of more than 40.0% in 2020. Regulations regarding reducing the environmental impact while increasing the performance of aircraft engines are a key area to consider for engine MRO.

Airframe MRO activities are expected to observe significant growth over the forecast period owing to the rapid fleet expansion, outsourcing of MRO services by OEMs, modification and modernization of commercial and military aircraft.

Line MRO activities include pre-flight checks, scheduled and unscheduled maintenance, inspection, and repairs and are directly linked to age and rate of utilization of aircraft.

Component MRO activities involve sourcing and fitting mechanical, structural, electrical, and hydraulic components with quick turnarounds. Factors such as the use of 3D printing in aftermarket components, RFID in component identification and tracking.

By Application Analysis

The narrow body aircraft MRO segment led the market for aerospace and defense MRO and accounted for the largest revenue share of more than 53.0% in 2020, which can be attributed to less operating cost, low fuel consumption, lower maintenance costs, and expansion by low-cost airlines.

The high demand for wide-body aircraft MRO services can be attributed to the growth in long-haul routes with higher traffic, usually connecting international destinations.

The demand for regional aircraft MRO is estimated to grow at a steady rate over the forecast period owing to the dominance of aircraft OEMs, non-standardization of global MRO procedures, and high complexity.

By End-use Analysis

The commercial MRO segment led the market for aerospace and defense MRO and accounted for the largest revenue share of about 70.0% in 2020. growing urbanization, budding developing economy, rapidly growing international trade relations, and mandatory maintenance program for aging aircraft.

Business and general aviation MRO activities are highly consolidated with few players accounting for the majority of the market share and are closely linked and intertwined with general aviation.

The growth in the global military aircraft MRO market is driven by higher delivery time of new aircraft, slower retirement of older aircraft, complex military aircraft components, and regional tensions due to territorial issues.

The growing use of UAVs in military operations, transportation of emergency medical supplies, and supply of essential food items in remote and inaccessible areas are expected to drive the demand for UAVs MRO services.

By Regional Analysis

Asia Pacific dominated the aerospace and defense MRO market and accounted for the largest revenue share of about 32.0% in 2020. Europe is one of the most liberalized regions in terms of aviation policies and activities led by the Member States of the European Union (EU).

Costa Rica, Brazil, and Argentina are the fastest-growing economies in Central and South America, with Embraer S.A. leading the industry. Despite economic and political concerns, growth is set to continue in the next decades owing to the rapid modernization of the military fleet.

Africa’s competitive advantage relative to many developed markets is its potential demographic dividend. Some governments in the region have created highly competitive aerospace clusters by designing highly convenient business policies for investors.

Key Players

AAR Corporation
SIA Engineering Company (SIAEC) Ltd.
Embraer S.A
Air France KLM Group
Raytheon Technologies Corporation
Delta Air Lines Inc.
General Dynamics Corporation
MTU Aero Engines AG
Lufthansa Technik AG
Honeywell International Inc.
Spirit AeroSystems Inc.
Turkish Technic Inc.
Bombardier Inc.
Rolls-Royce plc
Hong Kong Aircraft Engineering Company (HAECO) Ltd.
GE Aviation
Boeing Company
Airbus SAS
ST Engineering
Magnetic MRO

Market Segmentation

By Product
- Engine
- Airframe
- Line
- Component
By Application
- Narrow Body Aircraft
- Wide Body Aircraft
- Regional Aircraft
- Others
By End-use
- Commercial Aviation
- Business & General Aviation
- Military Aviation
- Others
Regional
- North America
  - U.S.
  - Canada
  - Mexico
- Europe
  - Germany
  - U.K.
  - France
  - Italy
  - Spain
- Asia Pacific
  - China
  - India
  - Japan
  - Australia
  - Indonesia
  - Malaysia
  - Singapore
- Central & South America
  - Brazil
  - Argentina
- Middle East
  - Saudi Arabia
  - UAE
- Africa

Detailed TOC of Global Aerospace And Defense MRO Market

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Aerospace And Defense MRO Market, By Product
7.1. Aerospace And Defense MRO Market, by Product, 2021-2030
7.1.1. Engine
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Airframe
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Line
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Component
7.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Aerospace And Defense MRO Market, By Application
8.1. Aerospace And Defense MRO Market, by Application, 2021-2030
8.1.1. Narrow Body Aircraft
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Wide Body Aircraft
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Regional Aircraft
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Aerospace And Defense MRO Market, By End User
9.1. Aerospace And Defense MRO Market, by End User, 2021-2030
9.1.1. Commercial Aviation
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Business & General Aviation
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Military Aviation
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Aerospace And Defense MRO Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. Market Revenue and Forecast, by End User (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6.3. Market Revenue and Forecast, by End User (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.7.3. Market Revenue and Forecast, by End User (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6.3. Market Revenue and Forecast, by End User (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.7.3. Market Revenue and Forecast, by End User (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6.3. Market Revenue and Forecast, by End User (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.7.3. Market Revenue and Forecast, by End User (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Market Revenue and Forecast, by End User (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4.3. Market Revenue and Forecast, by End User (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.5.3. Market Revenue and Forecast, by End User (2017-2030)
Chapter 11. Company Profiles
11.1. AAR Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. SIA Engineering Company (SIAEC) Ltd.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Embraer S.A
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Air France KLM Group
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Raytheon Technologies Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Delta Air Lines Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. General Dynamics Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. MTU Aero Engines AG
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Lufthansa Technik AG
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Honeywell International Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us

13.2. Glossary of Terms

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
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