Europe Aircraft MRO Market Key Players and Opportunities by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Europe Aircraft MRO Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, and Others), Aircraft Type (Fixed Wing Aircraft and Rotary Wing Aircraft), and End-User (Commercial and Military)
- Report Date : Jun 2021
- Report Code : TIPRE00022958
- Category : Aerospace and Defense
- Status : Published
- Available Report Formats :
- No. of Pages : 134
The Europe aircraft MRO market is expected to grow from US$ 12.22 billion in 2021 to US$ 15.46 billion by 2028; it is estimated to grow at a CAGR of 3.4% from 2021 to 2028.
The UK, Germany, France, Italy, and Russia are major economies in Europe. Growth of digital technology for MRO industry is expected to fuel the Europe aircraft MRO market. Considering the growing competition, the implementation of digital technologies is a necessary step toward the growth of MRO companies; this helps them create a continuous stream of data flowing through different levels of the supply chain, further streamlining the communication between the stakeholders and accelerating innovation in various operations. The digital transformation in the aviation industry substantially impacts all areas of the supply chain of the aviation industry, including air traffic management, aircraft operations, and aircraft and component manufacturing and servicing. The data-driven technologies such as data analytics which helps in tracking aircraft MRO activities in real-time would also optimize the air travel experience of crew and passengers. In addition, other advanced technologies such as AI and machine learning facilitate the airline crew and management to understand the airworthiness of the aircraft. Also, the MRO service providers incorporate AI technologies to boost their procedures by easily and efficiently conducting visual checks and understanding the degree of maintenance and repairs required on the aircraft. Thus, growing trend of inclusion of digital technologies such as AI and machine learning is driving the Europe aircraft MRO market.
In case of COVID-19, Europe is highly affected specially the UK. Additionally, with the outbreak of another variant of COVID-19 in the UK, the aircraft MRO market is expected to get hampered. European countries have a substantial number of airline operators across respective territories. Owing to the severity of the situation, the aircraft MRO manufacturers operating in the countries are experiencing substantially lesser orders, which is hampering the aircraft MRO manufacturer’s business. This, in turn, is ultimately negatively affecting the aircraft MRO market in the region. The A380 passenger aircraft were discontinued during the COVID-19 pandemic as most of these aircraft were grounded due to their high passenger capacity and low fuel efficiency, compared to smaller aircraft. The vacant seats and low passenger count shifted the airlines toward narrow-body aircraft. Airbus A380 is one of the largest revenue-generating aircraft for the MRO market; hence, its discontinuation due to the COVID-19 crisis in 2020 has affected the market growth. For instance, in May 2020, Air France retired its fleet of nine Airbus A380s amid COVID-19 crisis. Similarly, in February 2021, Lufthansa Group also initiated the strategy to replace A380 and 747 with new smaller type aircraft due to consequence of the low air transportation in 2020.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe aircraft MRO market. The Europe aircraft MRO market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Europe Aircraft MRO Market Segmentation
Europe Aircraft MRO Market – By Component
- Engine MRO
- Avionics MRO
- Airframe MRO
- Cabin MRO
- Landing Gear MRO
- Others
Europe Aircraft MRO Market – By Aircraft Type
- Fixed Wing Aircraft
- Rotary Wing Aircraft
Europe Aircraft MRO Market – By End-User
- Commercial
- Military
Europe Aircraft MRO Market, by Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Europe Aircraft MRO Market -Companies Mentioned
- AAR
- Barnes Group Inc.
- Collins Aerospace
- Delta TechOps
- FLTechnics, UAB.
- GE Aviation
- Lufthansa Technik
- Rolls-Royce plc.
- Singapore Technologies Engineering Ltd
Europe Aircraft MRO Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 12.22 Billion |
| Market Size by 2028 | US$ 15.46 Billion |
| Global CAGR (2021 - 2028) | 3.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
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- AAR
- Barnes Group Inc.
- Collins Aerospace
- Delta TechOps
- FLTechnics, UAB.
- GE Aviation
- Lufthansa Technik
- Rolls-Royce plc.
- Singapore Technologies Engineering Ltd
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