Global Commercial Aircraft MRO Market 2019-2023
About this market
The advent of IoT enabled jet engines is likely to drive growth in the market. IoT is an emerging concept that facilitates many connected things to collect and share data about usage patterns and the work environment, thereby forming a network between unanimated objects and their users. Technavio’s analysts have predicted that the commercial aircraft MRO market will register a CAGR of more than 4% by 2023.
Adoption of predictive maintenance tools
Since the advent of commercial aviation, airline have been focused on deploying operational aircraft with increased fuel efficiency and lower operational costs.
Scarcity of skilled labors
The advent of predictive maintenance has flooded the MRO industry with a flurry of problems, both technological and manpower related. This has affected the market growth of the commercial aircraft MRO market.
For the detailed list of factors that will drive and challenge the growth of the commercial aircraft MRO market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including AAR and Hong Kong Aircraft Engineering Company the competitive environment is quite intense. Factors such as the advent of IoT enabled jet engines and the adoption of predictive maintenance tools, will provide considerable growth opportunities to commercial aircraft MRO manufactures. AAR, Hong Kong Aircraft Engineering Company, Lufthansa Technik, MTU AERO ENGINES, and Singapore Technologies Engineering are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify latest growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
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