Aircraft Engine MRO Market, By Organization Type (Independent MRO, Airline/Operator MRO, and Original Equipment Manufacturer (OEM) MRO), By Service Type (Airframe Maintenance, Modification, Engine Overhaul, Components, and Line Maintenance), By Region Analysis - Global Analysis and Industry Forecast Report Till 2030.

The global Aircraft Engine MRO Market is projected to grow from USD 50.6 billion to USD 69 billion, at a CAGR of 4.8% in terms of revenue during the forecast period.

Routine engine maintenance is one of the services provided by aircraft engine MRO companies. While some manufacturers of aviation engines concentrate on producing just one or two engines, others have a wide range of engines for various applications. Before an airplane takes off, all of the engines need periodic maintenance and daily inspection. Due to numerous permanent retirements of older aircraft, the aircraft fleet is currently redefined in the aircraft engine MRO industry.

The industry ecosystem for aviation engine MRO is changing. Major firms also hold positions in the first node of the market ecosystem for aviation engine MRO. Moreover, commercial airlines, the military, and owners of general aviation give maintenance, repair, and overhaul services to engine manufacturers and MRO service providers.

Market Dynamics:

Drivers:

Numerous new MRO support centres have been created in some countries. As a result, there are more local companies in the market for aircraft engine maintenance and repair (Tier-II or Tier-III suppliers). The use of cargo aircraft has grown as a result of increased global trade. In order to ensure optimum effectiveness and secure air travel, it is crucial to perform timely inspections or repairs on aeroplanes. The need is being fueled by a number of factors, including the production of next-generation motors and the rapid growth of fleets. Other reasons influencing the expansion of the aircraft engine MRO company include the need for adequate maintenance of engines and engine components as well as tighter restrictions on international flight laws.

Restraints:

Long-term agreements between aircraft operators (military, industrial, and general aviation) and MRO suppliers will prevent the emergence of new industry players. The increasing environmental risks connected to aircraft engine MRO services are probably going to restrain global demand growth to some extent. Another factor that is anticipated to hinder the Aircraft Engine MRO Market is the lack of trained specialists.

Opportunities:

Rapid aerospace industry expansion and rising demand for next-generation engines are two additional reasons anticipated to support sales growth in the target Aircraft Engine MRO Market. Several engine manufacturers place a high premium on producing effective and reasonably priced engines for new fleets. The growing usage of reconditioned and used parts in the engine and non-engine maintenance is one of the industry's major advancements. Over the coming ten years, there will likely be an increase in demand for secondhand aviation parts as older aircraft are retired globally. Another factor influencing the growth of the global aircraft engine MRO sector is direct government restrictions on aircraft and the requirement for routine service of engine components and engines.

Key Players:

• AAR Corp.

• Airbus SE

• Delta Airlines, Inc.

• Hong Kong Aircraft Engineering Company Limited

• KLM UK Engineering Limited

• Lufthansa Technik

• MTU Aero Engines AG

• Raytheon Technologies Corporation

• Singapore Technologies Engineering Ltd

• TAP Maintenance & Engineering

Market Segmentation:

Aircraft Engine MRO Market, By EngineType

• Piston Engine
• Turbine Engine

Aircraft Engine MRO Market, By Use Case

• Military
• Commercial
• General

Aircraft Engine MRO Market, By Aircraft Wing

• Fixed 
• Rotary 

Aircraft Engine MRO Market, By Region

• North America 

• Europe 

• Asia-Pacific 

• LAMEA 

Regional Analysis:

Asia-Pacific is anticipated to have the biggest demand for aircraft engine MRO throughout the forecast period. Increased airline traffic, which is fueling development in the region's aircraft movements, is mostly to blame for the rise in demand. In the region, aircraft operators are getting ready to expand their MRO network. Also, the growing military spending of developing nations is encouraging the creation of plans for extending the life of aircraft, which will lead to an increase in demand for MRO in the upcoming years.

North America was the dominant region in the Aircraft Engine MRO Market for aircraft engines in 2019. Major aircraft producers (like Boeing) and providers of MRO engine services are operating in the area and have a sizable market presence there. It is considered the fastest-growing region in this market.

Scope of the report:

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