Market Size of Nigeria Aircraft Maintenance Repair And Overhaul Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 330.16 Million |
| Market Size (2029) | USD 386.97 Million |
| CAGR (2024 - 2029) | 2.66 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nigeria Aircraft Maintenance, Repair, and Overhaul (MRO) Market Analysis
The Nigeria Aircraft Maintenance Repair And Overhaul Market size is estimated at USD 330.16 million in 2024, and is expected to reach USD 386.97 million by 2029, growing at a CAGR of 2.66% during the forecast period (2024-2029).
- To boost the growth of the aircraft MRO sector in Nigeria, regulatory bodies are placing more emphasis on aircraft MRO services, and the Nigerian Civil Aviation Authority (NCAA) is increasing the number of licenses issued for carrying out aircraft maintenance jobs. This move is likely to attract investments from prominent players in the region. Additionally, the increasing number of grounded aircraft in Nigeria will create long-term opportunities for the aircraft maintenance, repair, and overhaul market.
- In recent years, Nigeria has experienced a significant rise in air travel, leading to an increase in demand for new aircraft. This growing air traffic and the resulting increase in the number of aircraft will also create a demand for aircraft maintenance, repair, and overhaul (MRO) services. Moreover, the Federal Airports Authority of Nigeria (FAAN) predicts that Nigeria's passenger traffic is expected to grow by 7% over the next ten years. This growth in air traffic will increase the number of aircraft in operation, leading to a greater demand for MRO services. Consequently, the market for aircraft MRO is expected to grow across the country.
- On the other hand, the shortage of skilled labour and lack of availability of space for carrying out the required maintenance on commercial aircraft can be the key factors that may hamper the market's growth during the forecast period.
Nigeria Aircraft Maintenance, Repair, and Overhaul (MRO) Industry Segmentation
Aircraft maintenance, repair, and overhaul (MRO) refers to the overhaul, inspection, repair, or modification of an aircraft or any components. The study includes the revenues sourced from the MRO activities of commercial aircraft fleets opting to undergo MRO operations in Nigeria.
The Nigeria aircraft maintenance, repair, and overhaul market is segmented by type. By type, the market is segmented into engine, component, interior, airframe, modification, and field maintenance.
For the segment, the market sizing has been done in terms of value (USD).
| Type | |
| Engine | |
| Component | |
| Interior | |
| Airframe | |
| Modification | |
| Field Maintenance |
Nigeria Aircraft Maintenance Repair And Overhaul Market Size Summary
The Nigeria Aircraft Maintenance, Repair, and Overhaul (MRO) market is poised for growth, driven by increasing air travel and a rising number of aircraft in operation. Regulatory bodies, such as the Nigerian Civil Aviation Authority (NCAA), are enhancing their focus on MRO services by issuing more licenses, which is expected to attract investments from key industry players. The growing demand for MRO services is further fueled by the significant number of grounded aircraft in the country, creating long-term opportunities for market expansion. Despite challenges like a shortage of skilled labor and limited maintenance space, the market is set to benefit from the increasing complexity of aircraft engines, necessitating regular maintenance to ensure safety and performance.
The market landscape is semi-consolidated, with a few major players holding significant shares, including ExecuJet Aviation Group AG, Sky Jet Aviation Services, and Aero Technologies, Inc. The Nigerian government's commitment to establishing the country as an aviation hub is evident through initiatives like the development of MRO facilities and partnerships with international firms. Notable developments include Air Peace's agreement with Embraer to establish a state-of-the-art MRO facility, which aims to serve both domestic and international fleets. These strategic moves are expected to enhance Nigeria's aviation infrastructure and position it as a leading MRO destination in Africa, attracting further investments and fostering industry growth.
Nigeria Aircraft Maintenance Repair And Overhaul Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Engine
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2.1.2 Component
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2.1.3 Interior
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2.1.4 Airframe
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2.1.5 Modification
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2.1.6 Field Maintenance
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Nigeria Aircraft Maintenance Repair And Overhaul Market Size FAQs
How big is the Nigeria Aircraft Maintenance Repair And Overhaul Market?
The Nigeria Aircraft Maintenance Repair And Overhaul Market size is expected to reach USD 330.16 million in 2024 and grow at a CAGR of 2.66% to reach USD 386.97 million by 2029.
What is the current Nigeria Aircraft Maintenance Repair And Overhaul Market size?
In 2024, the Nigeria Aircraft Maintenance Repair And Overhaul Market size is expected to reach USD 330.16 million.
