Increasing demand for air travel has put stress on aircraft and has intensified the need for MRO Maintenance, Repair, Overhaul (MRO) services. The global narrowbody aircraft MRO market, as per the assessment circulated by Market Research Future (MRFR), is expected to exhibit 5% CAGR during the projection period 2017 to 2023.
Commercial air service providers are investing on increasing fleet size for catering to the rising demand for air travel. These industry players are emphasizing on the purchase of narrowbody aircraft. This, in turn, is expected to boost the growth pattern of the narrowbody aircraft MRO market over the next couple of years. In addition, the increasing providers of MRO services is also anticipated to open growth avenues for the market in the nearby future.
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Rising middle-income population is projected to impact the growth of the aviation industry positively in the upcoming years. It is expected to intensify the demand for flight travel, which is poised to boost the demand for MRO services. This, in turn, is prognosticated to catapult the narrowbody aircraft MRO market on upward trajectory.
Increasing cases of accidents has led to the implementation of stricter rules for ensuring passenger safety. It is prognosticated to motivate the expansion of the narrowbody aircraft MRO market by motivating demand for services. Other factors projected to propel market expansion are outsourcing of MRO activities, fleet expansion, increased focus of OEMs on MRO, usage of 3D manufacturing, etc.
Competitive Dashboard:
GE Aviation (U.S.), Lufthansa Technik (Germany), Honeywell Aerospace (U.S.), GMF AeroAsia (Indonesia), Pratt & Whitney (U.S.), Air Works (India), Rolls-Royce (U.S.), Jet Maintenance Solutions (Lithuania), and Singapore Technologies Aerospace (Singapore) are the key players operating in the Global Narrowbody Aircraft MRO Market.
Increasing investments in regional expansion is expected to boost the competition in the market over the next couple of years. In addition, the investments in product development and technological innovations is expected for strengthening footholds in the global narrowbody aircraft MRO market in the years to come. These market participants are poised to opt for growth strategies such as mergers & acquisitions, Collaborations, agreements, partnerships, etc.
Market Synopsis:
By MRO type, the global narrowbody aircraft MRO market has been segmented into airframes and modification, engines, components, and line maintenance. Among these, the engine MRO segment is expected to grow substantially over the next couple of years. Increasing need for maintenance of engines and engine components is anticipated to encourage the expansion of the segment in the years to come.
By platform, the narrowbody aircraft MRO market has been bifurcated into military and commercial. The commercial segment of the market is prognosticated to exhibit the highest CAGR across the evaluation period.
Regional Analysis:
The regional assessment of the global narrowbody aircraft MRO market is covered in this report on regional and country-level basis. The regional segments of the market identified in this report are – North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America. North America is expected to witness significant growth over the next couple of years. The region is also presumed to retain its pole position across the assessment period. Rising air traffic in the international long-haul routes is poised to lead the growth of the narrorbody aircraft MRO market in the region over the next few years. Europe houses major leaders of the aviation industry which is expected to benefit the growth pattern of the regional market. It is poised to witness considerable growth rate during the review period. Asia Pacific is an important growth pocket and is projected to demonstrate a steep rise in the growth curve owing to increasing demand for air travel.
Scope of Report
The report for Global Narrowbody Aircraft MRO Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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List of Tables
Table 1 Global Narrow Body Aircraft Mro Market, by Region, 2018–2023
Table 2 North America: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 3 Europe: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 4 Asia-pacific: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 5 Middle East & Africa: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 6 Latin America: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 7 Global Narrow Body Aircraft Mro Market, by Region, 2018–2023
Table 8 North America: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 9 Europe: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 10 Asia-pacific: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Continued…….
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Narrow Body Aircraft Mro Market Share, by Mro Type, 2017 (%)
Figure 9 Global Narrow Body Aircraft Mro Market, by Mro Type, 2018–2023 (Usd Million)
Figure 10 Global Narrow Body Aircraft Mro Market Share (%), by Region, 2017
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