Global Aircraft Maintenance Repair and Overhaul Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global aircraft maintenance repair and overhaul market are anticipated to grow at a significant CAGR of 3.1% during the forecast period (2022-2028). The global aircraft maintenance repair and overhaul market is growing due to the massive increase in airport traffic. According to the International Air Transport Association, 4.5 billion passengers flew globally in 2019. The increasing rate of passengers availing air transportation facilities and supportive government initiatives to encourage airports to support maintenance repair and overhaul is boosting the growth of the market. The market is also growing as the need for servicing aircraft regularly along with lubrications, functional checks, structural repairs, and modifications increases.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, and collaborations, to stay competitive in the market. For instance-

• In February 2022, Turkish Technic Inc. and AMROS Global signed a commemorative certificate for the C-check and lease-out operations of two Airbus A330s. The company also announced its expanding agreement of maintenance repair and overhaul with flydubai.
• In January 2022, MTU Aero Engines AG and Nayak Group entered into a collaboration to expand their service offering.
• In November 2021, Safran signed a five-year contract with the Chinese airline China Eastern to carry out maintenance operations on the landing gear of 31 Airbus A330s.
• In November 2021, EDGE Group PJSC, a provider of military maintenance, repair, and overhaul services in Dubai signed a nonbinding memorandum of understanding with Leidos, the US-based technology, engineering, and science solution company.
• In February 2021, Boeing announced their strategic collaboration with Air Works for the maintenance, repair, and overhaul of its Poseidon 8I maritime reconnaissance aircraft.
• In February 2021, Boeing announced strategic agreements with air works for the maintenance, repair, and overhaul of two key Boeing defence platforms in India, the P-8I operated by the Indian Navy and the VIP transport fleet operated by the Indian Air Force.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-GE, AAR, Safran, Boeing, Collins Aerospace, and Lufthansa Technik, among others

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Aircraft Maintenance Repair and Overhaul Market Report by Segment

By Type

• Airframe
• Engine
• Component
• Line