Aircraft Engine MRO Market – Market Overview
Air travel in emerging countries is growing, thus increasing the demand for aircraft engine MRO service providers. Many new MRO service centres have been setup in such countries in recent years. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft engine MRO. Growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane to ensure efficient performance and safe air travel.
The market is driven by various factors such as development of next-generation engines and rapid fleet expansion. Also, increased restriction in global flight regulations and the need for proper maintenance of engines & engine components, is driving the growth of the aircraft engines MRO market.
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Air travel in emerging countries is growing, thus increasing the demand for aircraft engine MRO service providers. Many new MRO service centres have been setup in such countries in recent years. This increases the participation of regional companies (tier-II or tier-III suppliers) in the field of aircraft engine MRO. Growing international trade between countries have increased the frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplane to ensure efficient performance and safe air travel.
Over the years, extensive investments have been made in the development of commercial aerospace engines. For example, the GE9X engine, a next-generation aircraft engine, developed by GE Aviation, offers better performance than traditional engines. It is expected to be in service by 2020. The leading edge aviation propulsion (LEAP) engine, is the most fuel-efficient engine available in the market, and had received more than USD 100 billion in orders by 2015, which has propelled the market for aircraft engines.
The development of such advanced engines is expected to fuel their maintenance, repair, and overhaul operations. Moreover, there were approximately 10,000 orders of such engines by 2016, which implicates that the MRO service providers would have a high revenue in the coming years, as a result of the aftermarket services on these engines.
Key Players:
The leading market players in the global Aircraft Engine MRO market primarily include –
- GE Aviation (U.S.)
- Rolls-Royce (U.K.)
- Pratt & Whitney (U.S.)
- Lufthansa Technik (Germany)
- Safran Aircraft Engines (Paris)
- SIA Engineering Company (Singapore)
- Air France Industries KLM Engineering & Maintenance (France)
- MTU Aero Engines (Germany)
- ST Aerospace (Singapore)
- Delta TechOps (U.S.)
Industry/ Innovation/ Related News:
July 2016- Rolls-Royce announced that it would purchase the outstanding 53.1% shares of Industria de Turbo Propulsores SA (ITP), which is owned by SENER Grupo de Ingeniería SA (SENER). The acquisition is expected to strengthen Rolls-Royce’s position in the civil aerospace large engine programmes.
July 2016- Lufthansa Technik became a member of the Pratt & Whitney’s Geared Turbofan (GTF) engine MRO network.
July 2016:- HNA Aviation, a China-based company, purchased 80% shares of SR Technics. The remaining 20% shares would be retained by Mubadala, a shareholder of the company since 2006.
Target Audience
- Manufacturing Organizations
- Distributors & Suppliers
- Research Institute / Education Institute
- Potential Investors
AIRCRAFT ENGINE MRO Market – Competitive Analysis
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. GE Aviation, Lufthansa Technik AG, Pratt & Whitney, Rolls Royce, Safran Aircraft Engines, Air France Industries KLM Engineering & Maintenance, Delta TechOps, MTU Aero Engines, SIA Engineering Company, and ST Aerospace are the major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario, is fueling the market growth, thereby making it an ideal time to launch new MRO services and increase the global market share.
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Aircraft Engine MRO Market – Segments
For the convenience of the report and enhanced understanding; The Aircraft Engine MRO Market is segmented in to 3 key dynamics
Segmentation by Application: Commercial Air Transport, and Business & General Aviation.
Segmentation by Types: Widebody Aircraft, and Narrowbody Aircraft.
Segmentation by Regions: Comprises Geographical regions – Americas (North & Latin), Europe, APAC and Middle East & Africa.
AIRCRAFT ENGINE MRO Market – Regional Analysis
In 2016, North America was the leading region for the global aircraft engine MRO market. A number of the major aircraft manufacturers (such as Boeing) and engine MRO services providers are present in the region, gaining the region a high market share. Moreover, it is expected that approximately 10,000 aircraft would be in service in the region by 2035, which would create an opportunity for the major and prominent companies of the region.
Asia, an emerging region in the long-haul international market, relies heavily on the small and medium widebody aircraft. As a result, a number of such airlines have been entering into service in the recent years such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia.
Scope of Report
The report for Global Aircraft engines MRO Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table of Contents
1 Executive Summary
2 Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
Continued…….
List of Tables
Table 1 Market Synopsis
Table 2 Global Aircraft Engine Mro Market Size, by Region, 2012-2016 (Usd Million)
Table 3 Global Aircraft Engine Mro Market Size, by Type, 2012-2016 (Usd Million)
Table 4 Global Aircraft Engine Mro Market Size, by Applciation, 2012-2016 (Usd Million)
Table 5 North America: Global Aircraft Engine Mro Market Size, 2012-2016 (Usd Million)
Table 6 North America: Global Aircraft Engine Mro Market Size, by Type, 2012-2016 (Usd Million)
Table 7 North America: Global Aircraft Engine Mro Market Size, by Application, 2012-2016 (Usd Million)
Table 8 Asia Pacific: Global Aircraft Engine Mro Market Size, 2012-2016 (Usd Million)
Table 9 Asia Pacific: Global Aircraft Engine Mro Market Size, by Type, 2012-2016 (Usd Million)
Table 10 Asia Pacific: Global Aircraft Engine Mro Market Size, by Application, 2012-2016 (Usd Million)
Continued……
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