Business Jet MRO Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 1.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Business Jet MRO Market Analysis
The business jet MRO market is anticipated to increase from USD 31.28 billion in 2022 to USD 34.58 billion in 2028, registering a CAGR of 1.68% during the forecast period.
- The COVID-19 pandemic severely impacted business jet operations in 2020, reducing business jet utilization by over 20% in major markets like the United States and Europe. This decrease in flight activity impacted the business jet MRO market in 2020. However, in 2021, with the recovery of business jet flight activity, the demand for business jet MRO activities also witnessed a significant boost.
- The presence of aging business jets in operations and demand for customization in private jet aircraft are expected to generate demand for the business jet MRO market during the forecast period. Currently, there is a shortage of skilled workforce in the business aviation MRO industry, which will affect the aircraft handling capabilities of the MRO providers. This factor is expected to hamper the market's growth in the coming years.
- With many new models of business jets entering service and the aftermarket activity of business jets strengthening, refurbishment providers are experiencing strong demand for their services. Moreover, customers prefer to change their interiors with attractive materials, furnishings, colors, and other custom touches to make their aircraft cabins unique. Such refurbishments are anticipated to propel the growth of the market.
Business Jet MRO Market Trends
Components MRO Segment of the Market is Expected to Witness Highest Growth
- The components MRO segment of the market is expected to grow rapidly during the forecast period. The segment includes repairing and modifying aircraft components like brakes, avionics, APU, thrust reverses, landing gears, equipment/furnishings, fuel systems, and flight controls, among others. With the slowdown of business aviation worldwide due to the COVID-19 pandemic in 2020, various companies witnessed an increased demand for component checks and inspections as customers focused on maintaining high standards for future operations.
- Modifications and upgrades of the existing systems are being performed to maintain the aircraft up to date with newer technologies. With the entry of a new generation of business jets and corporate airliners, completions and refurbishment providers are expected to experience strong demand for their services during the forecast period. Players now focus on catering to such demand by adding newer aircraft servicing capabilities.
- In May 2021, C&L Aviation Services (C&L) secured an additional contract to undertake extensive modifications on multiple ERJ 135 and 145 semi-private aircraft. These modifications aim to convert the aircraft into a luxurious first-class configuration featuring 16-23 seats with upgraded leather interior seating. The revamped cabins will also include convenient amenities such as in-seat power outlets, LED lighting, and WIFI connectivity to enhance passenger comfort and convenience. Such developments are expected to accelerate the segment's growth during the forecast period.
North America Currently Dominates the Market in Terms of Market Share
- North America has the world's largest fleet of private and charter aircraft, with over 14,000 business jets in active service in the region. This factor has driven the need for MRO services in the region.
- The flight activity of the region declined in 2020 due to the advent of the COVID-19 pandemic. It bounced back in 2021, driven by the growth in demand for private travel in the region. The attractive growth prospects of the business jet charter industry in the region have resulted in an extensive MRO network. MRO capability expansion activities in North America increased considerably in the last few years.
- For instance, in January 2021, the global business aviation services provider Gama Aviation announced that it had acquired Jet East Aviation from East Coast Aviation in a USD 7.7 million deal, which will significantly expand Gama's existing US MRO operations. Likewise, in May 2022, Stevens Aerospace and Defense Systems inaugurated its new MRO facility at Smyrna/Rutherford County Airport.
- The new facility includes a 40,000-sq-ft hangar and 17,000 sq ft shop to provide heavy maintenance and avionics work on King Air turboprops and Citation and Hawker jets, as well as offer King Air Garmin G1000 retrofits and Raisbeck aerodynamics. Such expansion plans of the companies in the North American region to capitalize on the growing opportunities in the business jet MRO industry are expected to propel the market growth in the region during the forecast period.
Business Jet MRO Industry Overview
The business jet MRO market is highly consolidated, with few players in the market-dominating majority of the market share. Some prominent players in the business jet MRO market are Bombardier Inc., General Dynamics Corporation, Rolls-Royce plc, Raytheon Technologies Corporation (Pratt & Whitney), and Lufthansa Technik AG.
To further increase their presence in the market, the companies are constructing new MRO facilities at strategic locations and acquiring local players. ExecuJet MRO Services is constructing a new business aviation MRO facility in Al Maktoum International Airport (DWC) that can handle 18-24 business jets simultaneously. The 15,000 square meters can provide line and base maintenance services to large jets like Falcon 6X and Falcon 10X, among others.
Several local players are partnering with original equipment manufacturers (OEMs) to gain the technical expertise and required MRO certification for performing on-site MRO services to business jets. For instance, in February 2021, AMAC Aerospace was awarded two maintenance contracts to perform an annual maintenance check and a 30-month inspection on the undisclosed customer's Global 5000. Such partnerships are expected to help the companies enhance their share and presence in the market during the forecast period.
Business Jet MRO Market Leaders
Bombardier Inc.
Rolls-Royce plc
General Dynamics Corporation
Lufthansa Technik AG
Pratt & Whitney (Raytheon Technologies Corporation)
*Disclaimer: Major Players sorted in no particular order
Business Jet MRO Market News
- December 2022: Embraer-X signed a contract with Pulse Aviation for the use of Beacon, the maintenance coordination platform connecting resources and professionals for faster return-to-service aircraft. Pulse Aviation, a Florida-based business aviation company that offers MRO services, will use Beacon to improve maintenance coordination, make it easier to communicate about maintenance events involving all different types of aircraft models, foster teamwork, enhance knowledge sharing, and speed up workflows related to maintenance events.
- March 2022: Embraer signed a service agreement to support Avantto's executive jet fleet through the Embraer Executive Care Program. The Embraer Executive Care Program is a comprehensive airframe maintenance program carefully designed and managed by Embraer to provide a simple and predictable way of budgeting aircraft maintenance costs.
- December 2021: ExecuJet MRO Services Malaysia announced that the company is constructing a purpose-built MRO facility at Sultan Abdul Aziz Shah Airport in Subang, Kuala Lumpur. The new MRO facility will have a gross floor area of 144,000 square feet, and the facility's construction is scheduled to be completed by 2023.
Business Jet MRO Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 MRO Type
5.1.1 Engine MRO
5.1.2 Component MRO
5.1.3 Interior MRO
5.1.4 Airframe MRO
5.1.5 Field Maintenance
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 DC Aviation GmbH
6.2.2 Pratt & Whitney (Raytheon Technologies Corporation)
6.2.3 ExecuJet Aviation Group AG
6.2.4 Constant Aviation, LLC
6.2.5 Lufthansa Technik AG
6.2.6 Comlux Aviation Services, LLC
6.2.7 Bombardier Inc.
6.2.8 Atlas Air Service AG
6.2.9 Western Aircraft, Inc.
6.2.10 General Dynamics Corporation
6.2.11 Flying Colours Corp.
6.2.12 Rolls-Royce plc
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Business Jet MRO Industry Segmentation
MRO (maintenance, repair, and overhaul) covers all the activities related to the maintenance, overhaul, inspection, repair, modification, or upgrades of aircraft or its parts and components. The scope of the study covers the MRO services of business jets only.
The business jet MRO market is segmented by MRO type and geography. The market is segmented by MRO type into engine MRO, component MRO, interior MRO, airframe MRO, and field maintenance. By geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The market sizing and forecasts have been provided in value (USD billion) for all the above segments.
| MRO Type | |
| Engine MRO | |
| Component MRO | |
| Interior MRO | |
| Airframe MRO | |
| Field Maintenance |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Business Jet MRO Market Research FAQs
What is the current Business Jet MRO Market size?
The Business Jet MRO Market is projected to register a CAGR of 1.68% during the forecast period (2024-2029)
Who are the key players in Business Jet MRO Market?
Bombardier Inc., Rolls-Royce plc, General Dynamics Corporation, Lufthansa Technik AG and Pratt & Whitney (Raytheon Technologies Corporation) are the major companies operating in the Business Jet MRO Market.
Which is the fastest growing region in Business Jet MRO Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Business Jet MRO Market?
In 2024, the North America accounts for the largest market share in Business Jet MRO Market.
What years does this Business Jet MRO Market cover?
The report covers the Business Jet MRO Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Business Jet MRO Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Business Jet MRO Industry Report
Statistics for the 2024 Business Jet MRO market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Business Jet MRO analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
