Aircraft Component MRO involves the maintenance, repair, and overhaul of an aircraft's various systems. The advanced component MRO manufacturers offer cost-saving repair and overhaul strategies, along with engineered solutions suited to overcome complex system component challenges. Airlines companies and aircraft users require aircraft component MRO for components such as inlet and fan cowlings, exhaust assemblies and plugs, cargo and entry doors, thrust reversers, mechanical actuation, flight control surfaces, interior components, and more.
MARKET SCOPE
The "Global Aircraft component MRO Market Analysis to 2028" is a specialized and in-depth study of the aircraft component MRO market with a special focus on the global market trend analysis. The report aims to provide an overview of aircraft component MRO market with detailed market segmentation by gear position, aircraft type, activities, aircraft users, and geography. The global aircraft component MRO market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading aircraft component MRO market players and offers key trends and opportunities in the aircraft component MRO market.
MARKET SEGMENTATION
? On the basis of Components, the market is segmented into Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, and Others.
? Based on Aircraft Type, the market is segmented into Fixed Wing Aircraft and Rotary Wing Aircraft.
? Further on basis of End Users, the market is bifurcated into Commercial and Military.
MARKET DYNAMICS
Drivers:
? Growing demand for aircraft MRO outsourcing
? Rising investments in aircraft MRO services.
? Integration of IT and Maintenance and Repair Operations (MRO)
Restraint -
? Retirement of old aircrafts and introduction of new advanced models
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aircraft component MRO market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the aircraft component MRO market in these regions.
IMPACT OF COVID-19 ON AIRCRAFT COMPONENT MRO MARKET
COVID-19 severely impacted the aviation industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including aircraft component MRO manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, airlines have been focusing on reducing costs and expenses, which includes cutting back on MRO spending. Due to long duration of parked aircrafts, there will be an accelerated rate of aircraft retirements and more efficient and sustainable aircrafts will be deployed. Since more maintenance is required by aircrafts as they age, the replacement of older aircrafts by new ones is further affecting the aircraft component MRO market.
MARKET PLAYERS
The reports cover key developments in the aircraft component MRO market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from aircraft component MRO market are anticipated to lucrative growth opportunities in the future with the rising demand for aircraft component MRO market. Below mentioned is the list of few companies engaged in the aircraft component MRO market.
The report also includes the profiles of key aircraft component MRO market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
? AAR CORPORATION
? Delta TechOps
? FLTechnics
? Global Aerospace Corporation
? Hong Kong Aircraft Engineering Company Limited
? Lufthansa Technik
? RUAG Group
? Safran
? Sika Interplant Systems Limited
? TURKISH TECHNIC INC.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.