Global Widebody Aircraft MRO Market 2015-2019
About widebody aircraft MRO
Aircraft MRO is crucial for sustaining and extending the life of widebody aircraft. It consists of maintenances, overhauls, routine checks, repairs, and modifications carried out on widebody aircraft and their components. MRO services assure the safety and airworthiness of the aircraft. Commercial aircraft MRO includes engine overhaul, component MRO, line maintenance, and heavy maintenance.
Technavio's analysts forecast the global widebody aircraft MRO market to grow at a CAGR of 4.14% over the period 2014-2019.
Covered in this report
The report includes the present scenario and the growth prospects of the global widebody aircraft MRO market for the period 2015-2019. The report provides a global overview, market segmentation by MRO application, and growth prospects by region (the Americas, APAC, and EMEA). It also includes the market landscape and a corresponding detailed analysis of the prominent vendors. In addition, the report discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, and identifies the key trends in the market.
Technavio's report, Global Widebody Aircraft MRO Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key regions
Technavio Announces the Publication of its Research Report – Global Wide-Body Aircraft Maintainence, Repair, and Overhaul (MRO) Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Wide-Body Aircraft Maintainence, Repair, and Overhaul (MRO) Market: GE Aviation, Honeywell Aerospace, Lufthansa Technik, Pratt & Whitney (United Technologies) and Rolls-Royce Holdings
The other prominent vendors are: Abu Dhabi Aircraft Technologies, Air France Industries KLM Engineering and Maintenance, MTU Aero Engines and Singapore Technologies Aerospace
Commenting on the report, an analyst from Technavio’s team said: “Rapid advances in mobile technologies and devices have allowed for the integration of mobile-based solutions with MRO operations. These solutions are expected to maximize effectiveness and minimize process complexity. Japan Airlines, for instance, has introduced the use of Google Glass for inspections during maintenance processes. Technicians and engineers wear the glasses during their MRO work on the aircraft or the tarmac. Images or video of the aircraft parts at the work site are relayed in real-time to maintenance specialists, who provide feedback to the engineer onsite.”
According to the report, OEMs are becoming increasingly proactive in the area of aftermarket services. In 2013, the major engine OEMs such as Pratt & Whitney and GE generated 50% of their revenue from MRO and the rest from manufacturing. Pratt & Whitney provides line maintenance for a wide range of its engines. The company has also entered the parts manufacturer approval (PMA) market, United Airlines being its first customer in that segment. The major aircraft OEMs such as Boeing and Airbus generated 10% of their revenue from MRO services, and they have also been focusing on increasing their aftermarket revenue. For example, Airbus is developing the Air+ program, which leverages the MRO network and provides better maintenance solutions. Airbus has also shown interest in setting up MRO facilities in emerging countries like India.
Further, the report states that the imposition of high import duties and value-added taxes on aircraft spare parts in many countries hinders the free trade of these parts.
GE Aviation, Honeywell Aerospace, Lufthansa Technik, Pratt & Whitney (United Technologies), Rolls-Royce Holdings, Abu Dhabi Aircraft Technologies, Air France Industries KLM Engineering and Maintenance, MTU Aero Engines, Singapore Technologies Aerospace