Aircraft Maintenance, Repair & Overhaul in the US
Over the past five years to 2018, the Aircraft Maintenance, Repair and Overhaul industry has steadily gained altitude. During the five-year period, improving economic conditions led to a pickup in air travel and, therefore, aircraft usage. The resulting rise in aircraft wear and tear and mandatory checkups have led to increased demand for industry services. With increases in overall air traffic volumes, industry revenue is expected to increase. Domestic trips by US residents have steadily increased since 2013. The Bureau of Transportation Statistics estimates the number of revenue aircraft hours, representing the amount of time aircraft remain airborne, to have increased over the past five years. As aircraft usage increases, demand for maintenance, repair and overhaul (MRO) services is expected to increase. Over the five years to 2023, continued economic growth is anticipated to lead to increased air travel and aircraft usage. As a result, demand for industry services will continue to rise. Moreover, lower oil prices will keep older aircraft flying for longer, thus increasing the need for MRO.
Companies in this industry provide support services to air transportation operators, such as aircraft inspection and testing, ferrying aircraft between departure gates and taxiways, aircraft maintenance and repair and aircraft and parts overhaul. The main industry services are commonly referred to as maintenance, repair and overhaul (MRO). This industry only includes specialized MRO operations and excludes work conducted in factories.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.