ID: MRFR/A&D/4598-HCR | 100 Pages | Published By Swapnil Palwe on March 2023
Aircraft heavy maintenance visits (HMV) are the periodic inspections carried out on all commercial/civil airplanes after a certain amount of time or usage. In the case of military aircraft, specific maintenance schedule is followed, which may or may not be similar to those of commercial/civil operators. Based on type, the global aircraft HMV market has been segmented into airframe HMV, engine HMV, and component HMV. Airframe maintenance is carried out at a lower unit cost. Low-cost maintenance is possible because of the increased usage of lightweight fiber materials and hybrid alloys in the new-generation aircraft. This provides better fatigue and erosion resistance than the materials that were used in conventional aircraft. As a result, there is a lesser failure rate and lower wear and tear, which minimizes the requirement for airframe maintenance. In the engine HMV segment, advancements in engine technologies have led to the development of more fuel-efficient engines, which can operate at greater temperatures and high stresses. Such engines require highly skilled maintenance service providers to carry out maintenance on the advanced and complex engine parts. The complexity of the maintenance increases the cost associated with it. Engine maintenance visits are performed on a scheduled basis, which includes repair, maintenance, inspection, and preventive maintenance to restore the performance of the engine. Engine maintenance is often divided into floor visit overhaul work and Life-Limited Parts (LLP) maintenance work. In these maintenance visits, the engine is detached from the aircraft for a period, and after maintenance, the engine is assembled to the aircraft, which results in high maintenance costs. Due to these reasons, the engine HMV segment is expected to account for the largest share and will have a moderate rate of growth during the forecast period. Concurrently, the turboprop engines are expected to drop in fleet size and market share. It is expected that there will be a decrease in the number of turboprop-powered aircraft during the forecast period. Therefore, the HMV market for turboprop-powered aircraft will witness slower growth as compared to the other aircraft. Component maintenance is carried out on the shop floor. During component maintenance, parts removed from the aircraft are returned in serviceable conditions before they are reattached. Airlines are responsible for ensuring the maintenance services offered by the Maintenance, Repair, and Overhaul (MRO) service providers, adhere to the aviation safety regulations. The factors responsible for driving the growth of the aircraft component HMV market are the increasing MRO contracts, component MRO outsourcing, an easy readiness of spares, lower labor rates, and the increased flight frequencies. Based on aircraft type, the global market is segmented into fixed-wing and rotary-wing. The fixed-wing segment is further bifurcated as wide-body aircraft and narrow-body aircraft. Low-cost airline operators generally prefer narrow-body aircraft. Of late, due to the growth in air travel, Asia-Pacific holds major potential in the aircraft MRO market. The aircraft HMV market is growing at a rapid pace, owing to the growing number of MRO facilities in emerging countries, such as India, Indonesia, and China. Based on platform, the global market is segmented into cargo and commercial aircraft. Although the cargo aircraft fleet will play an important role in air service, its relative share concerning the commercial airline fleet will decrease, over the next decade. This drop in the number of cargo airplanes is anticipated as the new passenger aircraft are also used for air cargo transportation. This has resulted in the aircraft manufacturers offering more cargo space in the commercial aircraft.
Segmentation of the Global Aircraft Heavy Maintenance Visits Market
In 2017, North America dominated the aircraft HMV market, while the other regions had moderate shares. Due to the increasing passenger demand in Asia-Pacific, the aircraft traffic in the region is expected to grow exponentially, in the next few years. Additionally, it is also expected that Asia-Pacific is expected to operate nearly 40% of the total global aircraft fleet by the end of the forecast period. As a result, it is expected that the region is expected to witness the fastest growth during the forecast period. Therefore, the global aircraft HMV market is estimated to witness a CAGR of more than 6% during the forecast period from 2018 to 2025.
The key players in the global aircraft heavy maintenance visits market are AAR (US), Air France KLM E&M (France), Airbus S.A.S (France), Barnes Aerospace (US), Delta TechOps (US), EGAT (Taiwan), Honeywell International (US), Lufthansa Technik AG (Germany), ST Aerospace (Singapore), SR Technics (Switzerland), and Turkish Technic, Inc. (Turkey).
The market values and forecasts are derived using 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.
The global Aircraft heavy maintenance visits market is projected to register a moderate 6% CAGR in the forecast period.
The airframe HMV segment is expected to secure the highest CAGR.
The fixed-wing segment is slated to expand as the fastest-growing segment.
APAC, driven by its high aircraft investments, is slated to drive the global market over the review period consequently.
A few eminent market players operating in the global Aircraft heavy maintenance visits market are A.A.R. (U.S.), Air France KLM E&M (France), Airbus SAS (France), among others.