Market Size of North America Aircraft Engine MRO Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 9.87 Billion |
| Market Size (2029) | USD 13.26 Billion |
| CAGR (2024 - 2029) | 6.09 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Aircraft Engine MRO Market Analysis
The North America Aircraft Engine MRO Market size is estimated at USD 9.87 billion in 2024, and is expected to reach USD 13.26 billion by 2029, growing at a CAGR of 6.09% during the forecast period (2024-2029).
The North America region has one of the world's largest fleets of commercial and military aircraft. The aging fleet of aircraft in the military and commercial sectors and the growing use of retrofitting technologies for aircraft improvement are expected to drive the market. With the introduction of new aircraft in commercial aviation, several new long-term aircraft engine maintenance contracts will be signed shortly between the airlines and aircraft engine MRO providers. Such contracts are anticipated to further boost the growth of the market during the forecast period.
The growth of emission regulations for the airspace by various regulatory bodies, like FAA, IATA, and ICAO, will lead to generating greater demand for better engine maintenance for older aircraft, as their emissions are higher compared to the newer generation aircraft engines, which in turn will be a significant factor driving the market during the forecast period. On the other hand, supply chain issues and shortage of skilled workforce and engine components hinder the market growth.
North America Aircraft Engine MRO Industry Segmentation
Maintenance, repair, and overhaul (MRO) is one of the key activities in an aircraft's and its engines' lifecycle. The typically long operational lifetimes expected from the aircraft lead to performing MRO activities to maintain the life of the aircraft in the long run. Engine maintenance, repair, and overhaul (MRO) involve the repair, service, or inspection of engines to ensure the safety and airworthiness of the aircraft by international standards.
The North America aircraft engine MRO market is segmented based on engine type, application, and country. The market is segmented by engine type into turbine engines and piston engines. By application, the market is classified into commercial, military, and general aviation. By country, the market is segmented into the United States and Canada. The market sizing and forecasts have been provided in value (USD) for all the above segments.
| Engine Type | |||||
| |||||
| Piston Engine |
| Application | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
| Geography | |
| United States | |
| Canada |
North America Aircraft Engine MRO Market Size Summary
The North America Aircraft Engine MRO market is poised for substantial growth, driven by the region's extensive fleet of commercial and military aircraft. The aging aircraft in both sectors, coupled with the increasing adoption of retrofitting technologies, are key factors propelling the market forward. The introduction of new aircraft in commercial aviation is expected to lead to numerous long-term maintenance contracts between airlines and MRO providers, further stimulating market expansion. Additionally, stringent emission regulations from bodies like the FAA, IATA, and ICAO are creating a heightened demand for improved engine maintenance, particularly for older aircraft, as they tend to have higher emissions compared to newer models. However, challenges such as supply chain issues and a shortage of skilled workforce and engine components pose potential hindrances to market growth.
The commercial aviation segment is anticipated to experience significant growth, fueled by rising air passenger traffic and increased investment in the aviation sector, particularly in the United States. The acquisition of new commercial aircraft in the United States and Canada is expected to bolster the demand for aircraft engine MRO services and facilities. The United States, in particular, is projected to witness the highest growth due to its substantial number of commercial and military aircraft acquisitions and the presence of numerous MRO service providers. Companies like Honeywell International Plc. and AAR Corp. are actively enhancing their research investments to improve MRO services. The market is semi-consolidated, with major players like Delta Airlines, Rolls-Royce, and RTX Corporation striving for market share through product differentiation and long-term contracts, which complicate entry for new players.
North America Aircraft Engine MRO 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 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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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 Engine Type
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2.1.1 Turbine Engine
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2.1.1.1 Turborprop Engine
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2.1.1.2 Turbofan Engine
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2.1.1.3 Turboshaft
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2.1.2 Piston Engine
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2.2 Application
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2.2.1 Commercial Aviation
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2.2.2 Military Aviation
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2.2.3 General Aviation
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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North America Aircraft Engine MRO Market Size FAQs
How big is the North America Aircraft Engine MRO Market?
The North America Aircraft Engine MRO Market size is expected to reach USD 9.87 billion in 2024 and grow at a CAGR of 6.09% to reach USD 13.26 billion by 2029.
What is the current North America Aircraft Engine MRO Market size?
In 2024, the North America Aircraft Engine MRO Market size is expected to reach USD 9.87 billion.
