ID: MRFR/A&D/2853-HCR | February 2021 | Region: Global | 111 pages
The aircraft airframe consists of some crucial flight control systems that are important for aircraft operations such as take-off and landing, by providing high pitch and roll. Therefore, the aircraft operators need to ensure high efficiency or productivity of these systems. The major factors driving the global aircraft airframe MRO market are rapid fleet expansion and outsourcing of airframe MRO. The expansion of the existing commercial aircraft fleet and the increasing needs for airframe maintenance would result in increased MRO activities during the forecast period. Thus, the global market is expected to grow at a CAGR of approximately 4%, during the forecast period.
The report aims to provide an overview of global aircraft airframe MRO market with detailed market segmentation by airframe parts, aircraft type, application, and region. The global aircraft airframe MRO market is expected to witness significant growth during the forecast period.
Segmentation of the Global Aircraft Airframe MRO Market
The aircraft airframe MRO market has been segmented based on airframe type, aircraft type, application, and regions. Based on the airframe type, the wing segment is widely used and comprises of most significant market shares during the forecast period. Based on aircraft type, the fixed-wing is expected to grow at the highest CAGR during the forecast period. The rising number of commercial fleets is bolstering the aircraft airframe MRO market across the globe.
The market has been segregated into regions, namely, North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. The Asia-Pacific is expected to dominate the market in the future due to rising air traffic and investments by the OEMs in the region. Concurrently, the Asia-Pacific region is expected to be the fastest-growing region in the aircraft airframe MRO market. The region is emerging in the international long-haul market, and it is dependent on the small and medium wide-body aircraft. Owing to this, many airline operators such as Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia have been entering into service, over the years.
Moreover, the presence of companies such as HAECO, ST Aerospace, and GAMECO in the region act as a catalyst, stimulating the market growth. Europe market would be the second fastest-growing region in the aircraft airframe MRO market due to growing investments in various military and commercial aviation programs. Thus, the global aircraft airframe MRO market is estimated to grow at approximately 7% CAGR from 2018 to 2025.
The key players in the global aircraft airframe MRO market are Air France KLM Engineering & Maintenance (France), Singapore Technologies Aerospace (Singapore), HAECO (Hong Kong), AAR Corp. (US), Lufthansa Technik AG (Germany), GAMECO (China), Turkish Technic Inc. (Turkey), Evergreen Aviation Technologies (EGAT) (Taiwan), Aviation Technical Services (US), and Sabena Technics (France).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Frequently Asked Questions (FAQ) :
Aircraft airframe MRO market can expand at 7% CAGR by 2025.
By 2025, the aircraft airframe MRO market value can surge exponentially.
GAMECO (China), Lufthansa Technik AG (Germany), HAECO (Hong Kong), AAR Corp. (US), and Turkish Technic Inc. (Turkey) are some well-established aircraft airframe MRO market players.
The increase in activities of reputed airlines to favor aircraft airframe MRO market.
APAC aircraft airframe MRO market value can rise in near future.