Global Commercial and Military Aircraft MRO Market 2017-2021
About Commercial and Military Aircraft MRO
Maintenance, repair, and overhaul (MRO) enhances the life of an aircraft by increasing its operational efficiency. It includes services such as routine check-up, inspection, repair, and modification of aircraft and its components, assuring the safety and airworthiness of an aircraft. MRO is performed for airframes, engines, and components and includes thorough and extensive visual checks and nondestructive testing (NDT) for the detection of damage or corrosion. The MRO industry is characterized by steady development of advanced and innovative technologies. For instance, with the introduction of wearable technology, mobile devices can access flight-related information quickly and send information to maintenance specialists. This has helped in achieving on-time delivery of aircraft.
Technavio’s analysts forecast the global commercial and military aircraft MRO market to grow at a CAGR of 3.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial and military aircraft MRO market for 2017-2021. To calculate the market size, the report considers the revenue generated from the spending on MRO carried out for commercial and military aircraft.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial and Military Aircraft MRO Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial and military aircraft MRO market: AAR, Airbus Group, Boeing, Israel Aerospace Industries (IAI), Lockheed Martin, Rockwell Collins, SIA Engineering Company, and Singapore Technologies Aerospace.
Other Prominent Vendors in the market are: AMECO, Aviation Technical Services, Delta TechOps, DynCorp International, Elbit Systems, Evergreen Aviation Technologies, Hong Kong Aircraft Engineering (HAECO), Lufthansa Technik, Monarch Aircraft Engineering, SR Technics, StandardAero, and Thales.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is employment of cold repair technologies. Cold metal transfer (CMT), an NDT technique, is a technology that can replace conventional tungsten inert gas and metal inert gas welding for joining light-gauge sheet metal. Unlike CMT, metal inert gas and tungsten inert gas create excessive amounts of heat and often lead to the undesired phenomena of melt back and warping, which can damage the workpiece.”
According to the report, one driver in market is service-life extension of military aircraft. Over the last 15 years, wars in Iraq, Afghanistan, Serbia, and Libya have witnessed extensive use of all varieties of aircraft, which has resulted in rapid wear and tear and depletion of jets. Countries involved in wars rely heavily on aerial attacks as they help them to respond within a short period of time and with greater impact on enemy forces. After the wars, these fleets of aircraft have returned to their respective country bases and need maintenance and upgrades. Additionally, the last few years have witnessed vast changes in warfare strategies and tactics. Therefore, countries are constantly leveraging R&D and innovation techniques to ensure that their armed forces remain well-equipped with the latest modern military platforms and technologies.
Further, the report states that one challenges in market is challenges due to high cost and unavailability of spare parts. Military aircraft are expensive to maintain and operate, and hence, require substantial funding for the upgrade and retrofit of fleets. For example, in 2012, the upgrade of 350 F-16s of the USAF with Automatic Ground Collision Avoidance System, to reduce the instances of controlled flight into terrain, was conducted at a budget of $2.8 billion. In a scenario where major military powers such as the US and several European countries are limiting their defense expenditure, the market for military aircraft upgrade and retrofit is expected to see considerable negative impact.
AAR, Airbus Group, Boeing, Israel Aerospace Industries (IAI), Lockheed Martin, Rockwell Collins, SIA Engineering Company, Singapore Technologies Aerospace, AMECO, Aviation Technical Services, Delta TechOps, DynCorp International, Elbit Systems, Evergreen Aviation Technologies, Hong Kong Aircraft Engineering (HAECO), Lufthansa Technik, Monarch Aircraft Engineering, SR Technics, StandardAero, and Thales.
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