Aircraft Heavy Maintenance Visits Market Size was valued at USD 3.94 Billion in 2022. The Aircraft Heavy Maintenance Visits market industry is foreseen to grow USD 5.23 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 3.20% during the forecast period (2022 - 2032). Increased demand for safety and airworthiness and fleet optimization and reliability in aircraft maintenance are the key market drivers enhancing the growth of the market.
Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for aircraft heavy maintenance visits is being driven by the rising demand for safety and airworthiness. Heavy maintenance visits are important for ensuring the safety and airworthiness of aircraft. Through the conduction of repairs, inspection, and component replacements, the maintenance provider can identify and address potential issues to ensure that the aircraft meets stringent safety standards. Heavy maintenance visits help in the optimization and reliability of the fleet.
Compliance with the requirements of regulation is a significant booster for heavy maintenance visits. The airline must stick to the airworthiness directives and regulatory standards in order to maintain its operating licenses and meet the safety expectations of regulatory authorities. With regular inspection and maintenance activities, operators can improve the performance, reliability, and operational capability of their aircraft, reducing downtime and disruption. Aircraft MRO, known as aircraft maintenance and overhaul, is the process of maintaining the scheduled care, upkeep, and airworthiness of an aircraft, engine, and other components on a regular basis. The increasing environmental concerns, standards, ad rules for the retirement of aging fleets, and aircraft modernization are all anticipated to help in the significant growth of several engine development programs. One of the popular trends in airplane maintenance is the rising utilization of refurbished and used parts. This is expected to increase in the coming year due to the increase in the number of older planes being retired.
Technological advancement in the aviation industry is the most crucial growth factor for market growth. The utilization of AI has helped in predicting the fault and thus eliminating errors. AI-based technology has made a ground for a number of industries to boost in this market segment. The rise in the number of passengers is also aiding the growth of the market, further, the rise in the number of airline operators that are operating throughout the world, eventually leading to the rise in repair and maintenance costs. Thus, driving the Aircraft Heavy Maintenance Visits market revenue.
Aircraft Heavy Maintenance Visits Service Type Insights
The Aircraft Heavy Maintenance Visits market segmentation, based on service type, includes Engine Overhaul, Line Maintenance, Modification, Components, and APU. The engine overhaul segment dominated the market, accounting for the largest market revenue. The growth is because of the increased demand for engines of new-generation aircraft. The engines are becoming modernized with the integration of fan blades and even require periodic checks that fuel the growth of the segment. The advancement in components that raises operational efficiency, like saving fuel, is boosting the growth of the segment.
Aircraft Heavy Maintenance Visits Maintenance Visit Insights
The Aircraft Heavy Maintenance Visits market segmentation, based on maintenance visits, include Scheduled Heavy Maintenance Visits and Unscheduled Heavy Maintenance Visits. The scheduled heavy maintenance visits segment dominates the market segment of maintenance visits. Scheduled maintenance visits are planned maintenance events carried out at predetermined intervals or when specific maintenance thresholds are met, ensuring the continued airworthiness and reliability of aircraft. Further, the unscheduled heavy maintenance visits are the reactive maintenance events that occur in response to unexpected failures or issues, usually prompted by component failures, system malfunctions, or regulatory requirements.
Figure 1: Aircraft Heavy Maintenance Visits Market, by Maintenance Visit, 2022 & 2032 (USD Billion)
Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Aircraft Heavy Maintenance Visits Regional Insights
By region, the study gives market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Aircraft Heavy Maintenance Visits market area dominates the market due to large aircraft fleets, established maintenance facilities, and strict regulatory standards. The presence of major aircraft manufacturers, providers, maintenance, and regulatory authorities in the North American region. The US is the largest contributor to the growth of the market in aircraft heavy maintenance visits.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.
Figure 2: AIRCRAFT HEAVY MAINTENANCE VISITS MARKET SHARE BY REGION 2022 (USD Billion)
Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Aircraft Heavy Maintenance Visits market accounts for the second-largest market share due to the strong focus on airworthiness, safety, and regulatory compliances and the presence of a well-established network of maintenance providers and training institutes in this region. Further, the German Aircraft Heavy Maintenance Visits market held the largest market revenue, and the UK Aircraft Heavy Maintenance Visits market was the fastest-growing market in the European region.
The Asia-Pacific Aircraft Heavy Maintenance Visits Market is expected to grow at a rapid CAGR from 2023 to 2032. This is due to the exponential growth in air travel and aircraft fleet expansion and rising demand for heavy maintenance visits in the region. Moreover, China’s Aircraft Heavy Maintenance Visits market held the largest market share, and the Indian Aircraft Heavy Maintenance Visits market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Aircraft Heavy Maintenance Visits market grow even more. Market players are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Aircraft Heavy Maintenance Visits industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Aircraft Heavy Maintenance Visits industry to benefit clients and increase the market sector. In recent years, the Aircraft Heavy Maintenance Visits industry has offered some of the most significant advantages to the aircraft industry. Major players in the Aircraft Heavy Maintenance Visits market, including Boeing Company, Lufthansa Technik AG, Delta TechOPs GE, Airbus S.A.S, MTU Maintenance, AAR Corporation, ST Aerospace Ltd., Hong Kong Aircraft Engineering Co Ltd., Adria Tehnika, Honeywell International Inc. and others, are trying to increase market demand by investing in research and development operations.
Honeywell International Inc is an engineering and technology company that innovates and manufactures technologies that address challenges in various sections, inclusive of security, energy, productivity, safety, and urbanization. In March 2020, Honeywell Forge Analytics platform in order to help Business Aviation Operators increase efficiency and cut costs, Honeywell announced an unprecedented level of clarity and control to business aviation flight departments with the introduction of Honeywell Forge. This platform offers a full suite of mission-management capabilities in the areas of connectivity, navigation databases, and maintenance, boosting flight departments to enhance operational inefficiencies. Honeywell Forge offers business aviation customers easy-to-use, integrated dashboards that provide real-time alerts on connectivity issues and changes in flight plans. Honeywell Forge can enhance the passenger connectivity experience.
Adria Tehnika, established in 1961, is a Slovenian maintenance, repair, and overhaul (MRO) service provider depending on Ljubljana Airport. As a part of the state privatization program, Slovenian Sovereign Holding and Aerodrom Ljubljana signed an agreement for the sale and purchase of Adria Tehnika in 2015. Lintech Aircraft Maintenance, which is one of the leading aircraft maintenance companies in Europe was opted as the new owner of Adria Tehnika. The company is one of the highest dispatch reliabilities for the CRJ family Jets. In November 2021, the company and EasyJet signed an agreement. As per this agreement, Adria Tehnika of Solvia, which is a company of aircraft maintenance, will cover all the requirements of maintenance of EasyJet’s aircraft.
Key Companies in the Aircraft Heavy Maintenance Visits market include
For Instance, March 2022 KaraMD announced Pure Health Apple Cider Vinegar Gummies, a vegan gummy aimed to aid ketosis, digestion regulation, weight management, and encourage greater levels of energy.
For Instance, January 2022 Solace Nutrition, a US-based medical nutrition company, bought R-Kane Nutritionals' assets for an unknown sum. This asset acquisition enables Solace Nutrition to develop synergy between both brands, accelerate growth, and establish a position in an adjacent nutrition sector. R-Kane Nutritionals is a firm established in the United States that specializes in high-protein meal replacement products for weight loss.
For Instance, February 2021 Jet Technic and National Aviation Services partnered together to provide maintenance services to the international airports of Sharjah and Dubai, and the services will be offered as per EASA certification.
Aircraft Heavy Maintenance Visits Service Type Outlook
Aircraft Heavy Maintenance Visits Maintenance Visit Outlook
Aircraft Heavy Maintenance Visits Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 3.94 Billion |
| Market Size 2023 | Significant Value |
| Market Size 2032 | USD 56.83 Billion |
| Compound Annual Growth Rate (CAGR) | 3.20% (2022-2032) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2032 |
| Historical Data | 2018- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service Type, Maintenance Visit, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Boeing Company, Lufthansa Technik AG, Delta TechOPs GE, Airbus S.A.S, MTU Maintenance, AAR Corporation, ST Aerospace Ltd., Hong Kong Aircraft Engineering Co Ltd., Adria Tehnika, Honeywell International Inc. |
| Key Market Opportunities | The adoption of technologically advanced techniques. |
| Key Market Dynamics | Increased demand for safety and airworthiness, and optimization and reliability of the fleet. |
Aircraft Heavy Maintenance Visits Market Highlights:
Frequently Asked Questions (FAQ) :
The Aircraft Heavy Maintenance Visits market size was valued at USD 3.94 Billion in 2022.
The market is foreseen to grow at a CAGR of 3.20% during the forecast period, 2022-2032.
North America had the largest share of the market.
The key players in the market are Boeing Company, Lufthansa Technik AG, Delta TechOPs GE, Airbus S.A.S, MTU Maintenance, AAR Corporation, ST Aerospace Ltd., Hong Kong Aircraft Engineering Co Ltd., Adria Tehnika, and Honeywell International Inc.
The Engine Overhaul category dominated the market in 2022.
The Scheduled Heavy Maintenance Visits had the largest share of the market.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
