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Aircraft Engine MRO Market Size (2024 - 2029)

The aircraft engine MRO market is projected to experience significant growth over the forecast period, driven by factors such as the recovery in aviation post-pandemic, rapid fleet expansion plans, and the introduction of newer generation engines. The demand for maintenance, repair, and overhaul activities is expected to rise as airlines and military forces expand their fleets and extend the service life of aging aircraft. Additionally, advancements in technology that enhance maintenance efficiency and safety are anticipated to further propel the market's expansion.

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Market Size of Aircraft Engine MRO Industry

Aircraft Engine MRO Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 40.15 Billion
Market Size (2029) USD 54.68 Billion
CAGR (2024 - 2029) 6.37 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

Aircraft Engine MRO Market Analysis

The Aircraft Engine MRO Market size is estimated at USD 40.15 billion in 2024, and is expected to reach USD 54.68 billion by 2029, growing at a CAGR of 6.37% during the forecast period (2024-2029).

The impact of the COVID-19 pandemic on the aircraft engine MRO market has been significant. As a result of a large number of stored aircraft and lower utilization, the aircraft engine MRO demand significantly dropped in 2020. However, in 2021, aviation began to witness a gradual recovery, leading to increased passenger traffic and aircraft movements. This has led to an increase in demand for aircraft maintenance, repair, and overhaul activities.

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

The aging military aircraft fleet in some countries may generate significant demand, as some have plans to extend the service life of these aging aircraft due to a lack of defense funding.

The introduction of newer generation engines in new aircraft is anticipated to increase the aircraft engine further MRO demand. The new engines will have more expensive material requirements than the older aircraft.

The introduction of advanced technologies that will digitize and automate maintenance activities to increase overall maintenance process efficiency, reduce the overall turnaround time, and improve safety by the engine MRO players is anticipated to boost the market's growth in the coming years.

Aircraft Engine MRO Industry Segmentation

Engine maintenance, repair, and overhaul (MRO) involve the repair, service, or inspection of engines to ensure the safety and airworthiness of the aircraft by international standards. The market is segmented based on engine type into turbine and piston engines. The turbine engine is further segmented into turboprop, turbofan, and turboshaft engines. By application, the market is segmented into commercial aviation, military aviation, and general aviation. The report also covers the market sizes and forecasts in major countries across different regions. The market size and forecasts have been provided in value (USD billion).

By Engine Type
Turbine Engine
Turboprop
Turbofan
Turboshaft
Piston Engine
By Application
Commercial Aviation
Military Aviation
General Aviation
By Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
Egypt
Rest of Middle-East and Africa
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Aircraft Engine MRO Market Size Summary

The aircraft engine maintenance, repair, and overhaul (MRO) market is poised for substantial growth over the forecast period, driven by a combination of factors including the recovery from the COVID-19 pandemic, fleet expansion plans, and the introduction of advanced technologies. The market is expected to experience a steady increase in demand as aviation recovers, with a notable rise in passenger traffic and aircraft movements. The commercial aviation segment is anticipated to maintain its dominance due to the larger fleet size and higher maintenance costs compared to military and general aviation. Strategic partnerships and joint ventures between airlines and MRO service providers are further strengthening the market, with significant contracts being signed to ensure the airworthiness and safety of aircraft engines.

The Asia-Pacific region is expected to lead the market growth, fueled by the expansion of the aircraft fleet and the establishment of MRO facilities by international service providers. Investments by major manufacturers in the region, along with government incentives and increasing passenger numbers, are contributing to the market's expansion. Prominent players in the industry, such as Lufthansa Technik, Rolls-Royce Holding PLC, and Safran SA, are actively engaging in long-term partnerships and joint ventures to enhance their market presence. Despite the promising growth prospects, the established players' long-term contracts with commercial airlines and armed forces may pose challenges for new entrants seeking to penetrate the market.

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Aircraft Engine MRO Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2027)

    1. 2.1 By Engine Type

      1. 2.1.1 Turbine Engine

        1. 2.1.1.1 Turboprop

        2. 2.1.1.2 Turbofan

        3. 2.1.1.3 Turboshaft

      2. 2.1.2 Piston Engine

    2. 2.2 By Application

      1. 2.2.1 Commercial Aviation

      2. 2.2.2 Military Aviation

      3. 2.2.3 General Aviation

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 France

        3. 2.3.2.3 Germany

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Egypt

        4. 2.3.5.4 Rest of Middle-East and Africa

Aircraft Engine MRO Market Size FAQs

The Aircraft Engine MRO Market size is expected to reach USD 40.15 billion in 2024 and grow at a CAGR of 6.37% to reach USD 54.68 billion by 2029.

In 2024, the Aircraft Engine MRO Market size is expected to reach USD 40.15 billion.

Aircraft Engine MRO Market Report Snapshots

Aircraft Engine MRO Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)