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Aircraft Engine MRO Market Growth by Top Companies, Gross Margin, Forecasts to 2024

The study of aircraft engine MRO includes the engine maintenance, repair and overhaul (MRO) operations of turbine and piston engine aircraft in commercial, military and general aviation industries. The market also includes the component level maintenance checks of the engines.

Global Aircraft Engine MRO Market Research Report 2019 is created to provide the market landscape and unlimited guideline about contemporary market size, share, driving factors, trends, progressive growth, and dominant players of the Aircraft Engine MRO market. The report serves overall information on the market to top manufacturers, distributors, traders, dealers. It will help them understand the product scope, market overview, market driving force, technological advancement, market risk, opportunities, and research findings.

The aircraft engine MRO market is anticipated to grow at a CAGR of above 5% during the forecast period.

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Some of the major players of the market are:

Lufthansa Technik, Rolls-Royce plc, United Technologies Corporation, GE Aviation, Safran, Singapore Technologies Engineering Ltd, TAP Maintenance & Engineering, Delta TechOps, Hong Kong Aircraft Engineering Company Limited (HAECO), MTU AERO ENGINES AG, Textron Inc., Ameco, amongst others.

Market Overview

– The ageing fleet of the aircraft in the military and commercial aviation industry is the major driving factor for the growth of the market during the forecast period.

– The growth of emission regulations for the airspace by various regulatory bodies like FAA, EASA, IATA, and IACO among others are generating a demand for better engine maintenance for older aircraft (since their emissions are higher compared to the newer generation aircraft).

– The rapid fleet expansion plans of the airlines and military forces are anticipated to further boost the growth of the engine MRO market during the forecast period.

– The long term contracts of the aircraft operators (military, commercial and general aviation) with the MRO providers can act as a barrier for the growth of new players in the market.

Key Market Trends

Turbine Engine Segment to Experience the Highest Growth During the Forecast Period

The turbine engine segment of the market is expected to grow at the highest CAGR during the forecast period. The demand for turboprop and turboshaft aircraft, as well as ageing fleet of turboprop aircraft, are propelling the growth of the market during the forecast period. To support the governments with the fleet sustainment programs, the engine manufacturers are forming joint ventures in collaboration with the local companies.

For instance, Safran formed two new joint ventures in India in association with Max Aerospace and Hindustan Aeronautics Ltd. for maintenance of military aircraft and helicopter engines. Also, the incorporation of advanced technology in the manufacturing of the engines by the OEMs is simplifying the process of maintenance services for turbine engines, which is effectively reducing the cost and time required for maintenance of the aircraft engine.

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Asia-Pacific Region is Expected to Generate the Highest Demand During the Forecast Period

Asia-Pacific region is expected to generate the highest demand for aircraft engine MRO during the forecast period. The growth of the market is primarily due to the increasing passenger traffic which is propelling the growth in aircraft movements of the region. The aircraft operators are making plans for increasing their MRO network in the region.

For instance, InterGlobe Aviation Ltd. announced its plan for construction of the second MRO center at Kempegowda International Airport in Bengaluru to cater to the growing needs. This 13,000 sq.m facility which is scheduled to open by 2020, will have a Quick Engine Change (QEC) shop that can allow changing an aircraft engine with the least downtime along with warehouse and engineering offices for repair and maintenance. Additionally, the increasing military budget of emerging countries is fuelling the growth of life extension plans of aircraft, which will, in turn, generate demand for MRO in the years to come.

Competitive Landscape

The prominent players in the aircraft engine MRO market are Lufthansa Technik, Rolls-Royce plc, United Technologies Corporation, GE Aviation, and Safran. The major engine MRO providers are entering into long term partnerships or forming joint ventures to grow their engine MRO customers. For instance, Lufthansa Technik formed joint ventures with various engine manufacturers like Rolls-Royce plc, GE Aviation, and MTU AERO ENGINES AG for providing engine MRO operations for customers in the European Union.

Also, the use of advanced technology for providing maintenance services will help these companies attract new customers by reducing their maintenance costs. However, the long term contracts of the established players with the armed forces and airlines will act as a barrier for the new players to enter the market.

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Table of Contents:

1 Introduction
2 Aircraft Engine MRO Market Research Methodology
3 Executive Summary
4 Aircraft Engine MRO Market Dynamics
5 Aircraft Engine MRO Market Segmentation
6 Competitive Landscape
7 Aircraft Engine MRO Market Opportunities And Future Trends

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