The U.S. aerospace components MRO market size is expected to reach USD 4.4 billion by 2027, registering a CAGR of 1.6%, according to a new report by Grand View Research, Inc. Growing aerospace sector in U.S. is projected to propel the demand for MRO services, thereby driving the industry growth. Rapid growth of air transportation has resulted in expansion of fleet size in the aviation industry, which is a major driver for the market growth.
In addition, the development of advanced and next-generation aircraft is estimated to further benefit the U.S. aerospace components MRO market. Factors, such as technological advancements and optimization of the supply chain, are anticipated to fuel the market growth. In addition, the market is characterized by the presence of several repair or specialty service providers offering support for various component MRO activities.
This is anticipated to augment the market growth. Major companies maintain strategic relationships with the parts & components providers and suppliers and enter in long term contracts with them to procure the materials at competitive prices. The aforementioned strategies help the industry participants build a strong position in the market.
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U.S. Aerospace Components MRO Market Report Highlights
• Landing gear segment accounted for the largest share of over 18% in 2019 and is projected to expand further at the fastest CAGR of 2.2% from 2020 to 2027
• Exposure of the system to stress and pressure makes servicing of the components a regular task, which is the key factor driving the landing gear segment
• The air conditioning components segment is estimated to register steady growth from 2020 to 2027 as the components require frequent repair and maintenance services
• Third party suppliers segment is projected to record the maximum CAGR of 2.1% from 2020 to 2027 as these suppliers provide aircraft MRO services at competitive prices
• 121 operators is projected to be the fastest-growing end-use segment from 2020 to 2027. These end users operate their fully owned in-house MRO facilities to maintain better control on the repair costs
• Major market players have adopted marketing strategies, such as M&A and joint ventures, to expand their geographic presence
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U.S. Aerospace Components MRO Market Segmentation
Grand View Research has segmented the U.S. aerospace components MRO market on the basis of product, supplier, and end use:
U.S. Aerospace Components MRO Product Outlook (Revenue, USD Million, 2016 – 2027)
• Air Conditioning
• Auto Flight
• Electrical Power
• Flight Controls
• Hydraulic Power
• Ice & Rain Protection
• Indicating/Recording System
• Landing Gear
• Propellers/ Propulsors
• Engine Fuel & Controls
• Engine Indicating
• Engine Oil
U.S. Aerospace Components MRO Supplier Outlook (Revenue, USD Million, 2016 – 2027)
• Third Party
U.S. Aerospace Components MRO End-use Outlook (Revenue, USD Million, 2016 – 2027)
• 121 Operators
• 135 Operators
• Homeland Security & State Department
List of Key Players of U.S. Aerospace Components MRO Market
• AAR Corporation
• Avionics Specialist, Inc.
• Condor Aircraft Accessories
• Consolidated Aircraft Supply Co., Inc.
• Duncan Aviation Inc.
• Fieldtech Avionics & Instruments, Inc.
• Kalitta Charters LLC
• Pacific Southwest Instruments
• Precision Aviation Group
• Southwind Aviation
• The ZEE Company, Inc.
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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