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The Business Jet MRO Market is segmented by MRO Type (Engine MRO, Components MRO, Interior MRO, Airframe MRO, Modifications, and Field Maintenance), and Geography.
Fastest Growing Market:
The business jet MRO market is anticipated to register a CAGR of over 4% during the forecast period, (2020 - 2025).
The study includes the following aspects:
|Middle-East and Africa|
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In 2019, the engine MRO segment constituted a major share of the market studied. Engine MRO is an extremely important category of all MRO. Currently, the engine MRO market is witnessing numerous activities in the Middle Eastern region with MRO facilities, like Abu Dhabi Aircraft Technologies (ADAT), which can service up to 70 large engines in a year. However, the interior MRO segment is expected to register the highest CAGR during the forecast period. Business jet cabin interior generally consists of lights, seats, windows, IFEC, galley, and lavatories. The design of the lights and seats, color combinations, and other value add-ons boost the overall look of an aircraft's interior. The interior design of a business jet is primarily dependent on the customer’s requirement and varies from aircraft to aircraft. The need for cabin refurbishment, mainly on used jets, and cabin retrofit contracts may drive the growth of the interior MRO segment of the market studied during the forecast period.
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In 2019, North America had the highest market share in the business jet MRO market. The large fleet of business jets in North America, along with increasing charter services in this region, is helping the MRO services providers and OEMs to provide extensive maintenance, repair, and overhaul activities in the region. However, Asia-Pacific is expected to have the highest growth rate during the forecast period. The projected growth in pre-owned business jet sales in this region, along with the requirement of the advanced cockpit and new cabin interior retrofits, is expected to increase the need for maintenance, repair, and overhaul services in the region.
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In the business jet MRO market, the major four companies accounted for over 80% of the market revenue in 2019. The year 2019 was a year for consolidation with major aircraft OEMs buying smaller MRO providers, as well as charter service providers. Even aircraft manufacturers have been entering the aircraft MRO market by acquiring certified local players in each country, which has allowed them to gain a lot of control over the aftersales and services market. This move has also restricted access to smaller parts and components manufacturers who till now were able to provide many of the products at a much cheaper price than the OEMs. The effect of the consolidation till now has been very positive but the high burden on the pocket of owners and operators may outweigh the benefits, if prices are not regulated well.
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 Components MRO
5.1.3 Interior MRO
5.1.4 Airframe MRO
5.1.6 Field Maintenance
5.2.1 North America
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 United Technologies Corporation (Pratt & Whitney)
6.2.3 EXECUJET AVIATION GROUP
6.2.4 Constant Aviation
6.2.5 Lufthansa Technik
6.2.7 Bombardier Inc.
6.2.8 Atlas Air Worldwide Holdings, Inc.
6.2.9 Western Aircraft
6.2.10 General Dynamics Corporation (Jet Aviation & Gulfstream Aerospace Corporation)
6.2.11 Flying Colours Corp.
6.2.12 Rolls-Royce Holding PLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability