DUBLIN, October 19, 2021--(BUSINESS WIRE)--The "Aircraft Component MRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global aircraft component MRO market reached a value of US$ 17.8 Billion in 2020. Looking forward, the publisher expects the global aircraft component MRO market to exhibit moderate growth during the next five years.
Lufthansa Technik AG
Air France Industries KLM Engineering & Maintenance
Hong Kong Aircraft Engineering Company Limited
Honeywell International Inc.
Barnes Aerospace Inc. (Barnes Group)
FL Technics (Avia Solutions Group)
Turkish Technic Inc. (Turkish Airlines)
Aircraft component MRO, also known as maintenance, repair and overhaul, is a set of administrative, managerial, and supervision activities. They are employed for restoring aircraft components to their original state of performance and function. MRO in the aeronautical industry has strict and precise requirements stated by the airworthiness authorities to guarantee the safety of cargo, passengers and aircrew. It plays a vital role in maintaining product quality, reliability and availability. The services encompass components including mechanical actuators, avionics and electronics, fuel systems and carburetors, and landing gear and auxiliary power units (APUs).
Over the past few years, airline operators and OEMs have been using radio-frequency identification (RFID) in the commercial aerospace component MRO market to enhance the cost-effectiveness of the services provided by them. However, airline companies are now outsourcing these activities to third-party organizations for contract organizations. As aircraft component MRO accounts for a significant portion of airline expenses, this trend has created numerous growth opportunities in the market. In addition to this, improving economic conditions in regions like the Middle East, Asia and Africa has led to the demand for low-cost air travel services. Apart from this, the introduction of innovative software technologies has helped OEMs in fulfilling the airworthiness standards of EASA and FAA. Such software programs offer features like labor-hour tracking, maintenance scheduling, and service bulletins for airline operators and service providers.
Key Questions Answered in This Report:
How has the global aircraft component MRO market performed so far and how will it perform in the coming years?
What are the key regional markets in the global aircraft component MRO industry?
What has been the impact COVID-19 on the global aircraft component MRO industry?
What is the breakup of the market based on the aircraft type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the global aircraft component MRO industry?
What are the key driving factors and challenges in the global aircraft component MRO industry?
What is the structure of the global aircraft component MRO industry and who are the key players?
What is the degree of competition in the global aircraft component MRO industry?
What are the profit margins in the global aircraft component MRO industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Aircraft Component MRO Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Aircraft Type
5.5 Market Breakup by Component
5.6 Market Breakup by Application
5.7 Market Breakup by Region
5.8 Market Forecast
6 Market Breakup by Aircraft Type
7 Market Breakup by Component
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/4grbp4
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005839/en/
Laura Wood, Senior Press Manager
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