Europe Aircraft Engine MRO Market Size (2024 - 2029)

Europe Aircraft Engine MRO Market Analysis

The Europe Aircraft Engine MRO Market size is estimated at USD 10.19 billion in 2024, and is expected to reach USD 12.51 billion by 2029, growing at a CAGR of 4.33% during the forecast period (2024-2029).

The increasing orders and deliveries of new commercial aircraft due to increasing air traffic passenger numbers are anticipated to increase the demand for engine MRO services in aircraft during the forecast period. According to the latest updates from the International Air Transport Association (IATA), European air passenger traffic in 2023 accounted for 27.1% of the global traffic, while the annual RPKs grew by 20.2%.

Airlines in Europe have one of the oldest aircraft fleets in the world. In addition, several European countries' aging military aircraft fleets are also generating the demand for engine MRO. The replacement of aging aircraft and strict regulations for safety are other factors that fuel the market growth. Moreover, reconfigurations of cabin structures and systems installation offer MRO players market opportunities. In the military sector, several countries in the region are expanding their aircraft fleets, which is anticipated to further boost the growth of the aircraft engine MRO market during the forecast period.

Advanced technologies such as blockchain improve processes in MRO services. In the MRO market, there is enormous potential for blockchain. The adoption of blockchain technology has been low so far; however, soon, this technology will contribute a considerable share to the overall growth of the aircraft MRO market. It will allow companies to record the configuration information of MRO components. This also makes the documentation process effortless across component manufacturers and MRO service providers.

Moreover, the internal efficiency and maintenance of aircraft engines are a concern due to an alarmingly high incidence of recent airplane accidents caused by engine failure. This factor is fuelling the demand for aircraft engine MRO services, aiding the market's growth. However, the suspension of older commercial aircraft fleets is an obstacle to developing the European aircraft engine MRO market.

Europe Aircraft Engine MRO Industry Segmentation

The aircraft engine MRO study includes the engine maintenance, repair, and overhaul (MRO) operations of turbine and piston engine aircraft in the commercial, military, and general aviation industries. The market also includes component-level maintenance checks for engines. The study also considers helicopter engine MRO.

The European aircraft engine MRO market is segmented by engine type, application, and geography. By engine type, the market is segmented into turbine engines and piston engines. By application, the market is segmented into commercial aircraft, military aircraft, and general aviation aircraft. The report also offers the market size and forecasts for six countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).