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Aviation Engine MRO Market Research Report Information by Engine Type (Turbine Engine and Piston Engine), Aircraft Type (Fixed-Wing Aircraft and Rotary-Wing Aircraft), Application (Civil Aviation and Military Aviation) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast to 2030


ID: MRFR/A&D/8294-CR | 146 Pages | Author: Swapnil Palwe| June 2020

Aviation Engine MRO Market Overview 

Aviation Engine MRO Market is projected to grow USD 26.52 Billion at a CAGR 6.06% by 2020-2030

Aviation engine MRO includes maintenance, repair, and overhaul services for turbine engines and piston engines. Turbine engines include turboprop, turbofan, and turboshaft engines. Furthermore, these services are offered for fixed-wing aircraft and rotary-wing aircraft. Aviation engine MRO services are offered for both civil and military aviation.


The global aircraft engine MRO market is growing at a rapid rate due to the increasing MRO outsourcing activities and rapid fleet expansion. Additionally, the development of next-generation aircraft engines is also expected to drive the growth of the market. However, the high cost associated with aircraft engine MRO and their growing environmental hazards are likely to restrict the growth of the global aviation engine MRO market during the study period.


Moreover, the use of the new ultra-high bypass ratio (UHBR) turbofan engines in aircraft has also prompted the need for redesigning and improving the systems and equipment around the engine. Therefore, with the redesigning of aircraft engines and engine-related components, the requirement for advanced facilities and skilled workforce for its MRO will also grow.


North America accounted for 34.48% share of the global aviation engine MRO market in 2019, followed by Europe. Asia-Pacific accounted for the third-largest market share in 2019. Asia-Pacific is expected to be the fastest-growing market for aviation engine MRO during the review period.


Synopsis


The global aviation engine MRO market has been segmented based on engine type, aircraft type, application, and region. By engine type, the global market is divided into turbine engine and piston engine. On the basis of aircraft type, the global aviation engine MRO market has been classified into fixed-wing aircraft and rotary-wing aircraft. Based on application, the global global aviation engine MRO market has been bifurcated into civil aviation and military aviation.


Fixed-wing aircraft are equipped with wings as opposed to vertical lift rotors. These aircraft are controlled by control surfaces, namely, ailerons, rudders, and elevators, which have been integrated into the wing. This configuration offers several advantages such as endurance, large area coverage, flight speed, and a greater passenger carrying capacity than rotary-wing aircraft. Thus, these aircraft are primarily used for long-distance traveling by commercial airlines and military forces. Moreover, the demand for fixed-wing aircraft is increasing globally due to a rapid rise in air passenger traffic. Therefore, the increasing demand for fixed-wing aircraft is also expected to drive the growth of the fixed-wing aircraft segment in the global aircraft engine MRO market. The segment is projected to register a 5.96% CAGR during the forecast period. The fixed-wing aircraft segment accounted for the larger market share of 73.05% in 2019, with a market value of USD 26,532.5 million.


Regional Analysis


The aviation engine MRO market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.


North America accounted for the largest market share in 2019 and is expected to be the largest market for aviation engine MROs during the forecast period. The regional market growth is primarily driven by the high demand for services from the players based in the US and Canada. It is projected that approximately 10,000 aircraft would be operational in the region by 2035, which is expected to create additional opportunities for the market players operating in the North America aviation engine MRO market. Moreover, the rising revenues of airlines headquartered in the region are also projected to support the growth of the market. As per the International Air Transport Association (IATA), North American carriers were expected to generate USD 16.6 billion in net profits in 2019 as compared to USD 14.7 billion in 2018. However, the ongoing COVID-19 pandemic is expected to hamper the growth of the regional market. According to IATA, owing to travel restrictions and global economic recession due to the COVID-19 pandemic, the air transport revenue in North America is expected to fall by USD 50 million in 2020. Hence, the aviation engine market in North America is expected to register a 6.18% CAGR during the forecast period.


Companies Covered


The players profiled in the report on the global aviation engine MRO market are Air France Industries KLM Engineering & Maintenance (France), Singapore Technologies Engineering Ltd (Singapore), GE Aviation (US), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Lufthansa Technik (Germany), MTU Aero Engines AG (Germany), Rolls-Royce PLC (UK), Safran (France), SIA Engineering Company Limited (Singapore), and Honeywell International Inc. (US).


Key Developments




  • In May 2020, MTU Maintenance Canada Ltd, a subsidiary of MTU Aero Engines AG, signed a contract with the US Air Force to provide MRO services for the US Air Force’s F138 engines.




  • In November 2019, Singapore Technologies Engineering Ltd signed a 15-year contract with Japan Transocean Air to provide engine MRO solutions for its Boeing 737NG fleet.




  • In November 2018, CFM International, a joint venture between GE Aviation and Safran Aircraft Engines, signed an agreement with the Middle East airline, Gulf Air, to provide maintenance services for the airline's LEAP-1A engines.


Market Segmentation



  • By Engine Type: Turbine Engine and Piston Engine

  • By Aircraft Type: Fixed-Wing Aircraft and Rotary-Wing Aircraft

  • By Application: Civil Aviation and Military Aviation

  • By Region: North America, Europe, Asia-Pacific, and Rest of the World

Report Attribute/Metric Details
  Market Size   26.52 Billion
  CAGR   6.06% (2020-2030)
  Base Year   2019
  Forecast Period   2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Engine Type, Aircraft Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Air France Industries KLM Engineering & Maintenance (France), Singapore Technologies Engineering Ltd (Singapore), GE Aviation (US), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Lufthansa Technik (Germany), MTU Aero Engines AG (Germany), Rolls-Royce PLC (UK), Safran (France), SIA Engineering Company Limited (Singapore), and Honeywell International Inc. (US).
  Key Market Opportunities   the increasing demand for fixed-wing aircraft
  Key Market Drivers   increasing globally due to a rapid rise in air passenger traffic


Frequently Asked Questions (FAQ) :

Global aviation engine MRO market is projected to register a moderate 6.06% CAGR in the forecast period.

The increasing MRO outsourcing activities and rapid fleet expansion are the primary growth inducer of the market.

The turbine engine segment is expected to observe substantial demand over the review period.

The APAC is poised to secure the highest CAGR.

The civil aviation segment is slated to mature as the fastest-growing segment.

A few eminent market players functioning in the global aviation engine MRO market are GE Aviation (US), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Lufthansa Technik (Germany), among others.

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