Research Methodology on Aircraft Engine MRO Market
1. Introduction
This research is conducted to analyze the size of the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market and its components. Important parameters such as the leading players, drivers, challenges, application of the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market and the market overview are analyzed in this research.
2. Research Objectives
The primary research objectives for this study are:
- To review and analyze the global Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market size from 2023 - 2030
- To determine the various trends impacting the growth of the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market
- To study and evaluate the size of the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market segmentation based on the service provider, aircraft type, and geography
- To assess the market share of the leading players operating in the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market
- To identify opportunities in the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market
3. Research Methodology
The research methodology adopted to conduct the study includes primary and secondary research.
3.1 Primary Research
Primary research is the process of collecting valuable information from various sources. The sources include experts from the industry, interviews, surveys and industry databases (databases of companies, associations, unions and business research and analysis associated websites). We have conducted in-depth interviews with various industry professionals and conducted surveys to gather relevant data. The interviews include professionals such as key opinion leaders associated with various companies, researchers, industry analysts and other sources.
3.2 Secondary Research
Secondary research is the process of gathering data from the already available sources. The data is collected from reliable sources such as trade journals, technical journals, electronic databases, and other published data. Various trade journals, magazines, and databases are used to acquire data.
4. Market Size Estimation
The Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market size is calculated by using both top-down and bottom-up approaches. For the top-down approach, key market players and their market share in the Aerospace and Defense industry were identified through extensive secondary research. The bottom-up approach was used to estimate the market size, based on the number of total engines sold in the global Aircraft Engine Maintenance, Repair, and Overhaul (MRO) markets.
5. Breakdown of Primary Interview
We got in touch with key opinion leaders and experts from the industry and conducted interviews with them. The participation of these experts helps us to determine the current trends in the market and figure out various opportunities as well.
6. Data Analysis
After the data collection process is complete, the data is analyzed using various statistical tools such as MS Excel, R programming, Python, and SPSS. Companies that had high market shares were also assessed to determine the growth rate of the market. Other reports were also referred to assess the growth rate of the market and to determine the market size.
7. Market Forecasting
The market size is estimated for the forecast period of 2023 - 2030. The demand for the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market is forecasted based on the analysis of various factors that include market dynamics, historical data, and current industry trends. The aircraft engine MRO market is estimated to be worth USD 15 billion by 2030
8. Conclusion
Factors such as the rising demand for air travel, increasing aircraft fleet size, regional growth in the Aerospace & Defence industry, and increased engine utilisation will drive the growth of the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) Market over the forecast period 2023 to 2030. In terms of aircraft type, turbofan engines are estimated to be the most popular segment in the Aircraft Engine Maintenance, Repair, and Overhaul (MRO) market. OEMs are expected to dominate the market owing to the high cost and complexity of engine maintenance and repair. North America is expected to be the largest market and APAC is estimated to be the fastest-growing region in terms of market size during the forecast period 2023 to 2030.
