Latin America Aircraft MRO Market Size (2024 - 2029)

Latin America Aircraft MRO Market Analysis

The Latin America Aircraft MRO Market size is estimated at USD 6.31 billion in 2024, and is expected to reach USD 7.43 billion by 2029, at a CAGR of 3.31% during the forecast period (2024-2029).

Over the years, many global and regional MRO service providers, such as Aeroman (MRO Holdings), GE Aerospace, and Lufthansa Technik, have expanded their MRO service networks through geographical expansion, partnerships, and joint ventures. This factor has propelled the growth of the aircraft MRO market in the region.

Noteworthy countries like Brazil, Mexico, and Argentina are investing substantially in new aircraft acquisitions. Simultaneously, several other regional players focus on procuring refurbished aircraft and enhancing their existing military fleet. These endeavors collectively fuel the growth of the aircraft MRO market.

While setting up MROs in the region, significant challenges emerge, such as attracting and retaining skilled labor. This challenge, prevalent globally, has become increasingly apparent in the region. This is primarily due to a substantial surge in both the aircraft fleet and the number of MRO players over the past two decades. However, with the demand from the growing fleet projected to outstrip the supply of maintenance technicians in the near future, this challenge is set to intensify.

Given that major countries in the region, including Brazil, Mexico, and Argentina, serve as pivotal aviation hubs, their governments actively support foreign MRO providers. They do so by facilitating partnerships and joint ventures with local entities. Such collaborations are poised to underpin the growth of the aircraft MRO market in the region during the forecast period.

Latin America Aircraft MRO Industry Segmentation

Aircraft MRO includes tasks performed to ensure the continuing airworthiness of an aircraft and its parts. MRO service providers perform overhaul, inspection, replacement, defect rectification, and modification embodiment in compliance with airworthiness directives and repair.

The Latin America aircraft MRO market is segmented by MRO type, end user, and geography. By MRO type, the market is segmented into airframe MRO, engine MRO, component and modifications MRO, and line maintenance. By end user, the market is classified as commercial aviation, military aviation, and general aviation. The report also offers the market size and forecasts for three countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).