Aircraft MRO Market is expected to reach US$ 134,072.28 million by 2030

PRESS RELEASE BY The Insight Partners 06 Nov 2023

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Increasing Adoption of Sustainable Aviation Fuel (SAF) is Boosting the Aircraft MRO Market Growth

According to our latest market study on "Aircraft MRO Market Forecast to 2030 – Global Analysis – by Components, Aircraft Type, End Users," the market is expected to grow from US$ 91,158.12 million in 2022 to US$ 134,072.28 million by 2030; it is anticipated to register a CAGR of 4.9% from 2022 to 2030.

Investing in sustainable aviation fuels (SAFs) and related services presents a significant opportunity for aircraft MRO market players. As the aviation industry intensifies its efforts to reduce carbon emissions and achieve sustainability goals, MRO companies can play a pivotal role in SAF adoption. By offering SAF-related services and technologies, MRO providers can position themselves as leaders in environmental sustainability and contribute to the industry's commitment to greener aviation practices. This opportunity aligns with the growing demand for eco-friendly aviation solutions and can open new revenue streams while fostering a more sustainable future for the sector. For instance, in February 2022, SIA Engineering Company Limited announced a trial using SAF with SIAEC's joint venture with Rolls-Royce and Singapore Aero Engine Services Private Limited (SAESL) to perform engine tests at its engine test facility. This is anticipated to position SIAEC as a sustainability-centric MRO service provider in the coming years. Similarly, in February 2023, Boeing entered into agreements to acquire 5.6 million gallons (equivalent to 21.2 million liters) of blended sustainable aviation fuel (SAF) from Neste, a global leader in SAF production. Boeing's significant SAF procurement highlights a growing opportunity for Aircraft MRO market players.

Aircraft MRO Market Share — by Region, 2022

Aircraft MRO Market Share — by Region, 2022

Aircraft MRO Market Growth, Share and Size | 2030

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Aircraft MRO Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Components (Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, Others); Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft); End Users (Commercial, Military); and Geography

Source: The Insight Partners Analysis

As airlines increasingly prioritize eco-friendly operations, MRO companies can offer services related to SAF integration and usage. This includes retrofitting aircraft to accommodate SAF, conducting SAF-related maintenance, and ensuring compliance with SAF standards and regulations.

MRO services in the aviation industry play an irreplaceable role in assuring the durability, safety, and profitability of commercial and military airlines. To maintain their market position in the future, businesses should adopt flexibility toward adapting new and trending technologies, which would help digitalize their business processes, thereby ruling out the dependency on humans. Advanced technologies such as blockchain improve processes in MRO organizations. The technology has massive potential in the MRO space. The adoption of blockchain technology has been low so far; however, soon, this technology will contribute a considerable share to the overall growth of the aircraft MRO market. With the help of blockchain technology, companies can record the configuration details of MRO components. This also makes the documentation process across component manufacturers and MRO service providers effortless. Additionally, the deployment of this technology also enables MRO service providers to offer verifiable documentation about the parts they have installed, thereby maintaining transparency in their operations.

Thus, aviation industry players such as aircraft manufacturers, aircraft MRO service providers, and aviation technology developers are highly emphasizing on adopting blockchain technology with the objective of tracking their MRO processes. This factor is anticipated to stimulate the aircraft MRO market growth in the coming years.

Lufthansa, Germany’s flagship carrier with a significantly high fleet size, has its in-house MRO business unit, Lufthansa Technik AG. The MRO business units are engaged in servicing a wide variety of components for Airbus and Boeing aircraft fleet. Owing to the brand image and service quality of Lufthansa Technik, the company witnesses a significant demand for its services year-on-year, which propels the growth of the German aircraft MRO market. German Aircraft Maintenance GmbH, HAITEC Aircraft Maintenance GmbH, Rheinland Air Service, and AMTES GmbH are the other aircraft MRO service providers operating in the country. 

The presence of a substantial number of service providers offers Germany an advantageous position in the European aircraft MRO market. Additionally, the German government allocates a fair percentage of its annual budget toward its defense force. The rise in the defense budget enables the defense forces to continue the maintenance of respective aircraft to maintain their airworthiness and operability. Thus, the emphasis on aircraft MRO from the German defense force catalyzes the aircraft MRO market size of the country. Further, Lufthansa Technik has continuously involved itself in technological upgrades, and recently, the company has heavily focused on digital MRO, which facilitates the company to serve its customers efficiently and in a shorter period. The company's full-fledged deployment of digital MRO would heavily benefit in generating revenues in the coming years.

AAR, Barnes Group Inc, Collins Aerospace, Delta TechOps, FLTechnics, UAB, GE Aviation, Lufthansa Technik, Rolls-Royce plc, Singapore Technologies Engineering Ltd, and Turkish Technic Inc are among the key aircraft MRO market players profiled during this study. In addition, several other important aircraft MRO market players have been studied and analyzed during the study to get a holistic view of the aircraft MRO market and its ecosystem.

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