Narrowbody Aircraft MRO Market COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2021 – 2027
Research Reports
Apr 12, 2022
Latest Research Report on Narrowbody Aircraft MRO Market Research Report: Information by MRO Type (Airframe & Modification, Component, Engine and Line Maintenance), Aircraft Type (Fixed-Wing and Rotary-Wing), Application (Commercial Air Transport and Business & General Aviation) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) – Forecast till 2027 by MRFR
Market Dashboard:
The market is witnessing several mergers and acquisitions. Existing sellers are also collaborating to discover new products and developing strategies. For instance, KLM UK Engineering, SAS has recently signed a deal for line maintenance for Boeing 737 and Airbus A320 finally. The same company has also signed a contract with the U.K. based BA CityFlyer and extended their deal to maintain narrowbody aircraft.
The key players in the global narrowbody aircraft MRO market are GE Aviation (U.S.), Honeywell Aerospace (U.S.), Lufthansa Technik (Germany), Pratt & Whitney (U.S.), Rolls-Royce (U.S.), Air Works (India), Jet Maintenance Solutions (Lithuania), GMF AeroAsia (Indonesia), Singapore Technologies Aerospace (Singapore), and others.
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Overview:
Transport has been simplified a lot by the advent of various aircraft technologies. Narrowbody aircraft have impacted the market considerably which has generated massive demand for the maintenance services to ensure the prolonged lifespan of the planes. Aircraft Maintenance, Repair, and Overhaul (MRO) play an integral part in ensuring the longer lifespan of the airplanes. The narrowbody aircraft MRO market has proliferated in various countries significantly and is gaining much prominence by assisting in substantial profits from the associated industries such as regional manufacturers and tier-1 suppliers. Narrowbody aircraft MRO service is all the more necessary as it ensures the safety of the aircraft.
The market is benefitting much from a rise in the procurement of such aircrafts, outsourcing, and 3D manufacturing process. Countries are also expanding their aircraft fleet which is directly influencing the growth of the MRO market. The global narrowbody aircraft MRO service is expecting a CAGR of 5% during the review period (2017-2023), asserts Market Research Future (MRFR) in a detailed study.
However, the high cost incurred during the replacement, or retrofit of older aircraft with the latest technologies can prove to be a market deterrent. Along with it, stringent regulations regarding environmental hazards are adversely affecting the market.
Industry Trend:
Vietnam’s aviation industry has recently included first of its kind Airbus A321neos as a part of Vietnamese carriers. At the same time, VietJet, low-cost carriers have started taking inducting these planes into their portfolio, and Vietnam Airlines is also expecting to induct these planes into their lineup.
The narrowbody aircraft from United Aircraft Corp. (UAC), MC-21 and Comac C919, are undergoing flight tests. These latest inductees, along with the existing ones, are expected to inflate the narrowbody market, and consequently the MRO market.
Segmentation:
The global narrowbody aircraft MRO market can be segmented based on MRO type and platform.
Based on MRO types, the market is segmented into airframe & modification, components, engines, and line maintenance. The engine MRO has a wider market penetration owing to the need for regular maintenance of engines and engine components.
Platform-based segmentation includes military and commercial. Commercial segment is estimated to grow at the highest CAGR during the forecast period.
Regional Analysis:
Region-specific market encompasses North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (LATAM).
Advanced technology, regional player density, and rise in a number of flights have assisted North America to gain the top spot. Furthermore, international long-haul routes are keeping the market reasonably steady.
Europe is proving to be a worthy competitor owing to the presence of primary MRO service provider such as Lufthansa Technik.
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The Report Provides Insights On The Following Pointers:
Chapter 1 Study Coverage
Chapter 2 Executive Summary
Chapter 3 Narrowbody Aircraft MRO Market Competitor Landscape by Players
Chapter 4 Narrowbody Aircraft MRO Market Size by Type and Application
Chapter 5 Global and Regional Analysis
Chapter 6 Company Profiles, recent developments, and investments
Chapter 7 Market Opportunities, Challenges, Risks and Influences Factors Analysis
Chapter 8 Value Chain and Sales Channels Analysis with breakthrough product developments
Chapter 9 Research Findings and Conclusion
Chapter 10 Methodology/Research Approach
Contact Information:
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America +1 646 845 9312 Email: sales@marketresearchfuture.com
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