Aircraft Engine MRO Market – Growth, Trends And Forecast (2020 – 2025), This report presents a profound evaluation of basic elements of Aircraft Engine MRO industry such as production scale and profit generation. Market driving factors, newly adopted technologies, latest business methodologies have been discussed in this report. The report also forecasts the potential of the market and reviews thorough analysis of vital segments and regional markets.
The aircraft engine MRO market is anticipated to register a CAGR of above 5% during the forecast period.
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– The ageing fleet of 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 new generation aircraft).
– The rapid fleet expansion plans of the airlines and military forces are anticipated to further boost the growth of the aircraft 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.
The Aircraft Engine MRO Market is competitive owing to the presence of various international and domestic manufacturers. The market appears to be fragmented with the vendors competing in terms of price, capacity, volume, product quality, and technological innovation in the market. Some of the major players in the market are Lufthansa Technik, Rolls-Royce Holding PLC, United Technologies Corporation, General Electric Company, Safran SA, Singapore Technologies Engineering Ltd, TAP Maintenance and Engineering, Delta Air Lines, Inc., Hong Kong Aircraft Engineering Company Limited (HAECO), MTU Aero Engines AG, Textron Inc., American Equipment Company, Inc.
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Turbine Engine Segment to Experience the Highest Growth During the Forecast Period:
The turbine engine segment of the market is expected to register the highest CAGR during the forecast period. The demand for turboprop and turboshaft aircraft, as well as ageing fleet of turboprop aircraft, is 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. Moreover, 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.
Furthermore, this study will help to solve the following issues:
- Cyclical dynamics–Report foresees dynamics of industries by using core analytical and unconventional market research approaches.
- Identifying key cannibalizes– Strong substitute of a product or service is that the most prominent threat. Report includes key cannibalizes of a market, by procuring marketing research. This helps in aligning new product development/launch strategies before.
- Spotting emerging trends– Report helps to identify upcoming hot market trends. Report also track possible impact and disruptions which a market would witness by a specific emerging trend.
- Interrelated opportunities–This report will allow making decisions based on data, thereby increasing the chances that the strategies will perform better.
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