Aircraft MRO market size forecast - engine MRO 2021-2031

In 2021, the global engine MRO market is expected to be sized at around 29.5 billion U.S. dollars due to the coronavirus outbreak.

Aircraft MRO market and performance

To ensure constant availability and accuracy, systems need to receive corrective and preventive maintenance. The importance of achieving almost absolute security for aircraft operation is, because of intricate and exclusive complexity of an aircraft, immensely high. MRO services are designed to fulfill the market needs of aviation industry for an aircraft or helicopter. For the total aircraft fleet of an airline, MRO activities make up roughly ten percent of total operating costs. Therefore, the MRO market growth is closely abounded with the aviation industry globally. The MRO market worldwide is forecasted to increase continuously until 2027, reaching roughly 120 billion U.S. dollars in 2027. From 2017 to 2026, most of MRO services demand was estimated to be for engine maintenance and components of an aircraft in North America. Since the aviation market is growing globally at an exponential rate, so follows the MRO market. Compared to other countries or regions, India’s MRO market is expected to grow the largest between 2019 and 2028, roughly by 9.5 percent annually.

Aircraft MRO firms

As the global aircraft fleet is expanding and the demand for air transportations increases exponentially, the need for MRO operations grows as well. For instance, Lufthansa Technik, the MRO services by Lufthansa Group doubled its revenue from 2007 to 2019, generating over 6.9 billion euros in 2019. Similar to many other leading airlines, Air-France-KLM also provides maintenance services. MRO services of Air-France-KLM generated over 1.7 billion euros in the fiscal year 2019. Globally a multitude of companies perform either full MRO activity for an entire aircraft or parts of MRO process, such as aircraft engine MRO services. In aircraft engine MRO services, General Electric Aviation, CFM International and Rolls-Royce are forecasted to remain the market leaders between 2020 and 2029. Measured by the number of maintenance hours, the leading airframe MRO suppliers were ST Aerospace and HAECO Goup globally in 2018.