The aircraft engine MRO market size was valued at US$ 32.04 Billion by 2028 from US$ 22.15 Billion in 2021; it is expected to grow at a CAGR of 5.7% during 2022-2028.
Aircraft engine MRO involves the service, repair, and inspection of engines to ensure that the aircraft is safe and airworthy as per international standards. Aircraft engine MRO services are offered for civil and military aircraft. The aircraft engine MRO market is developing at a fast rate due to rising MRO outsourcing activities and rapidly growing aircraft fleet expansion. Moreover, the advancement of next-generation aircraft engines is contributing to the growth of the aircraft engine MRO market. The utilization of the new ultra-high bypass ratio turbofan engines in aircraft also provoked the need to upgrade and work on the engine's frameworks and equipment.
Aircraft engine MRO providers are offering several services, such as routine engine maintenance. Some aircraft engine providers focus on manufacturing one or two engines, whereas others have large engine portfolios for multiple uses. All the aircraft engines require routine maintenance and daily check before aircraft fly. In transition, the aircraft fleet redefines the aircraft engine MRO market because of many permanent retirements of older aircraft.
The aircraft engine MRO market players are implementing strategies to increase their market share. For instance, in May 2021, COOPESA, a Costa Rica-based MRO provider, partnered with Boeing to provide MRO service to Boeing's two new conversion lines for 737-800 converted freighters.
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Aircraft Engine MRO Market: Strategic Insights
Market Size Value in US$ 22.15 Billion in 2021 Market Size Value by US$ 32.04 Billion by 2028 Growth rate CAGR of 5.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Aircraft Engine MRO Market: Strategic Insights
| Market Size Value in | US$ 22.15 Billion in 2021 |
| Market Size Value by | US$ 32.04 Billion by 2028 |
| Growth rate | CAGR of 5.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Aircraft Engine MRO Market Growth
The COVID-19 outbreak adversely affected the world and disrupted several countries' economic conditions. Before the outbreak, the aerospace industry was experiencing substantial growth in terms of production.
Furthermore, the reduction in commercial aircraft and general aviation deliveries due to the industry crisis caused by the COVID-19 pandemic declined the demand for aircraft engine MRO. Hence, there was no requirement for MRO, which negatively impacted the aircraft engine MRO market in 2020. About 22,950 fleets were in service at the beginning of 2020. More than 17,000 airliners were idled due to the COVID-19 pandemic in 2020. However, the number of single-engine piston aircraft witnessed an increase in the number of its deliveries during 2020.
The aircraft engine MRO market has been witnessing recovery since 2021. After being grounded for months, the aircraft required MRO before flying, which bolstered the growth of the market. Airbus delivered over 611 aircraft in 2021; most of them were A320neo and A321neo. Despite massive backlogs from aircraft manufacturers, the global aviation industry witnessed a significant rise in passenger count and aircraft procurement in 2021.
Lucrative Regions: Aircraft Engine MRO Market Share
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Market Insight – Aircraft Engine MRO Market
Resuming of Grounded Aircraft After 2020 is Driving the Aircraft Engine MRO Market
Resuming of Grounded Aircraft After 2020 is Driving the Aircraft Engine MRO Market
More than 17,000 aircraft were grounded worldwide in 2020. During the COVID-19 recovery period, the aviation industry is witnessing a gradual recovery, which is increasing aircraft movements worldwide and thus driving the growth of the aircraft engine MRO market. Aircraft manufacturers and military forces are implementing strategies to increase fleet expansion is contributing to the growth of the aircraft engine MRO market.
Several airline companies implemented various strategies to increase their aircraft engine MRO market share, such as mergers & acquisitions and lining up new flights. For instance, in 2020, Textron Aviation acquired Australian MRO service provider Premiair Aviation Maintenance. In March 2022, Malaysian and Turkish airlines announced that they are resuming their passenger flights in India after two years; Emirates is also restoring its pre-pandemic schedule of 172 flights per week. Thus, the increasing number of flights is significantly driving the aircraft engine MRO market growth.
Engine-based Insights
Based on engine, the aircraft engine MRO market is segmented into turbine engine and piston engine. According to the market research study, the turbine engine segment dominated the global aircraft MRO market in 2021 due to a higher preference for turbine engines for the most popular aircraft fleet worldwide, as most piston engines are used by small-sized general aviation aircraft. Also, the turbine engine segment is expected to grow faster than the piston engine segment. In June 2021, Duncan Aviation, and MRO service provider, provided MRO for Honeywell’s TFE731 aircraft engines.
Players operating in the market are mainly focused on the development of advanced and efficient products.
- In January 2022, Delta TechOps MRO Achieved Engine Test Certification for PW1500G Engines. On its new engine test cell, the largest MRO test cell globally, Delta TechOps received Engine Test Certification for the PW1500G engine in Atlanta.
- In 2021, Standard Aero and Mint Turbines were chosen by GE Aviation as their recommended MRO and limited scope service providers for the restricted category and public use T700 engine operators in the US, respectively.
The aircraft engine MRO market analysis is based on engine, application, and aircraft type. Based on engine, the aircraft engine MRO market is segmented into turbine engine and piston engine. In 2020, the turbine engine segment led the aircraft engine MRO market with a larger share. Based on application, the market is segmented into commercial aviation, general aviation, and military aviation. In 2020, the commercial segment accounted for the largest share in the global aircraft engine MRO market. Based on aircraft type, the market is segmented into fixed wing aircraft and rotary wing aircraft.
The fixed wing aircraft dominated the aircraft engine MRO market in 2020 with a larger share. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific accounted for a significant share of the aircraft engine MRO market.
The key aircraft engine MRO market players profiled in the study are Delta Airlines, Inc.; GE Aviation; CFM International; Lufthansa Technik; MTU Aero Engines AG; SIA Engineering Company; Sigma Aerospace; Safran S.A.; Raytheon Technologies Corporation; and Rolls–Royce PLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Engine, Application, and Aircraft Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
More than 60% of the countries worldwide have announced a net-zero carbon emission. Companies, such as Honeywell Aerospace, are also committed to achieving net-zero carbon emissions by 2035. In November 2021, Bell Textron Inc. announced that Bell 525 completed its first flight utilizing sustainable aviation fuel. Boeing and Airbus have recently announced that by 2030, their aircraft will fly 100% on SAF. The US and Europe governments are encouraged to produce SAFs. These factors are propelling the aircraft engine MRO market substantially.
With the increase in air traffic and aircraft demand, air carriers are boosting their aircraft delivery. The demand for new airlines is not just coming from existing aircraft re-establishing their fleet but also from new low–cost aircraft entering the market. A repressed interest of leisure travelers being more cost-sensitive post-pandemic, decreased interest for business travel, and the adaptability of the minimal expense aircraft plan of action are surging the demand for MRO services.
On the basis of application, the commercial segment accounted for the largest share in 2020 in the global aircraft engine MRO market and is expected to retain its dominance over the forecast period as well. Moreover, general segment is expected to be the fastest growing segment during the forecast period according to the market research study.
The increasing demand of fuel efficient aircraft. Fuel-efficient aircraft is important due to the increasing price of oil, and airline manufacturers can save a significant amount of money by utilizing less fuel through better fuel–efficiency. If an aircraft uses less fuel, it will produce less CO2 emissions. Aircraft manufacturers are focusing on delivering more fuel-efficient aircraft in upcoming years. Aircraft manufacturers, such as Boeing and Airbus, are taking several initiatives, such as replacing old aircraft with new fuel–efficient aircraft and improving flight operations.
Asia Pacific dominated the aircraft engine MRO market in 2020 and it would continue to dominate the market during the forecast period. The Asia Pacific aircraft engine MRO market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. Significant military expenditure and defense R&D investments, and favorable government initiatives boost the growth of the aerospace and defense sector across emerging nations in Asia Pacific.
Delta Airlines, Inc.; GE Aviation; CFM International; Lufthansa Technik; MTU Aero Engines AG; SIA Engineering Company; Sigma Aerospace; Safran S.A.; Raytheon Technologies Corporation and Rolls–Royce PLC are among the leading manufacturers in the aircraft engine MRO market.
The List of Companies - Aircraft Engine MRO Market
- Delta Airlines, Inc.
- GE Aviation
- CFM International
- Lufthansa Technik
- MTU Aero Engines AG
- SIA Engineering Company
- Sigma Aerospace
- Safran S.A.
- Raytheon Technologies Corporation
- Rolls–Royce PLC
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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