Global Commercial Aircraft MRO Market (Maintenance, Repair & Overhaul): Industry Analysis & Outlook (2018-2022)
Commercial aviation involves transportation of passengers and cargo through an operating aircraft. Demand for air travel is increasing every year due to its various advantages such as less time consumption, comfort and hence, the fleet size is experiencing a significant growth every year. In-service fleet of commercial aircraft can be classified under four classes that include narrow-body aircraft, wide-body aircraft, regional jet and turboprop aircraft.
Regionally, Asia-Pacific is a major contributor to the global commercial Aircraft MRO market, supported by high demand for MRO services for wide-body aircrafts. Europe and North America are not likely to see any noteworthy growth in their commercial aircraft MRO markets in the coming years.
The global commercial aircraft MRO market is expected to grow in future due to increasing air craft fleet size, decreasing annual aircraft retirements, growing traffic of airline scheduled passengers, increasing disposable income. Key trends of this market include decreasing jet fuel prices and growing participation of OEMS in MRO industry. However, there are some factors which can hinder the market growth including lack of trained MRO technicians and rapid technological changes.
The report “Global Commercial Aircraft MRO Market: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering Asia-Pacific, the U.S. and Europe regions along with the global market. The report profiles the key players of the market including General Electric, United Technologies Corporation, ST Engineering and Lufthansa Group.