Commercial Aircraft MRO is the periodic inspections carried out on commercial or civil aircraft where in maintenance, repair and overhaul are normally done after a certain amount of time or usage of the aircraft. MRO activities of the aircraft are essential for keeping the aircraft and its parts in optimal condition, thus ensuring the safety of pilots, crew and passengers.
The global commercial aircraft MRO market was USD 80.22 billion in 2018 and is estimated to reach USD 105.28 billion by 2025 at a CAGR of 3.96% during the forecast period
Growth by Region
EMEA region accounted for the largest market share of 40% in 2018 owing to the rise in need of deploying operational aircraft with increased fuel efficiency coupled with lower operational costs. North America and Asia-Pacific, on the other hand, are also major markets for commercial aircraft MRO and are likely to see noteworthy growth owing to the huge demand for MRO services for wide-body aircraft which will thus increase the need for MRO operations
Drivers vs Constraints
The market is mainly driven by the rising adoption of predictive maintenance tools, increased need on deploying operational aircraft with increased fuel efficiency and lower operational costs, growth in the aircraft fleet globally and rising traffic of scheduled passengers. However, extensive usage of IoT into several operational aspects of aircraft maintenance is a significant development and is thus anticipated to have a major effect hampering the growth of the market
Industry Trends and Updates
Airbus, a European aerospace corporation and Thai Airways International have signed a new agreement to form a new joint venture agreement for maintenance, repair and overhaul (MRO) facility at U-Tapao International Airport located near Bangkok.
AAR Corporation, an independent provider of aviation services for global commercial and defence aviation industries has announced that the company has signed a ten-year agreement to provide airframe maintenance for Air Canada and also agreed to acquire other 2 premier aviation facilities.