Narrowbody Aircraft MRO Market Size was valued at USD 26.88 billion in 2022. The Narrowbody Aircraft MRO Market is projected to grow to USD 43.89 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.6% during the forecast period (2022 - 2032).
Narrowbody aircraft MRO market is expected to grow owing to factors such as the increasing number of aircraft manufactured, and the growing outsourcing of MRO activities are expected to drive the market growth. Furthermore, rising collaborations between prominent narrowbody aircraft MRO providers are also expected to drive the market growth. For example, in 2018, AAR entered into a joint venture with Indamer Aviation Private Limited to develop an MRO facility in India. With the development of the new facility, the companies aim at offering heavy maintenance services to all narrow-body platforms including new-generation aircraft.
However, the high costs associated with aircraft repair and increasing environmental hazards might hamper the growth of the market.
By aircraft type, the global narrowbody aircraft MRO market is divided into fixed-wing and rotary-wing. The fixed-wing segment dominated the market in 2018 and is expected to grow at a higher CAGR during the forecast period, 2019 to 2025. The growing number of aircraft being manufactured and the demand for new aircraft from countries such as China and India is expected to drive the segment growth.
Based on MRO type, the global market has been segregated into airframe & modification, component, engine, and line maintenance. The engine segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period. Stringent government regulations regarding engine maintenance are expected to drive the segment growth.
Based on application, the global market has been bifurcated into commercial air transport and business & general aviation. The commercial air transport segment dominated the segment is 2018 and is expected to grow at the highest CAGR during the forecast period. Increasing air travel in developing countries is expected to drive the growth of the market.
Based on the region, the narrowbody aircraft MRO market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America led the market in 2018 with a market share of 38.36%. However, the market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Increasing air passenger traffic in countries such as China and India is expected to drive the market growth in the region.
The key players in the global narrowbody aircraft MRO market are AAR (US), AIR FRANCE KLM (France), Delta TechOps (US), Hong Kong Aircraft Engineering Company Limited (Hong Kong), Iberia Maintenance (Spain), Lufthansa Technik (Germany), SIA Engineering Company (Singapore), Singapore Technologies Engineering Ltd (Singapore), TAP Maintenance & Engineering (Spain), Turkish Technic Inc. (Turkey), and Indamer Aviation Private Limited (India).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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Narrowbody Aircraft MRO Market Highlights:
Frequently Asked Questions (FAQ) :
The global narrowbody aircraft MRO market is expected to expand at a CAGR of 5.6% during the review period.
Increasing number of manufactured aircraft and the growing MRO activities are expected to drive the narrowbody aircraft MRO market.
The global narrowbody aircraft MRO market is segmented on the basis of aircraft type, MRO type, application, and region.
The global narrowbody aircraft MRO market is estimated to acquire notable market value during the forecast period from 2022 to 2032
Turkish Technic Inc. (Turkey), and Indamer Aviation Private Limited (India), Hong Kong Aircraft Engineering Company Limited (Hong Kong), and Iberia Maintenance (Spain) are some of the renowned players in the global narrowbody aircraft MRO market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
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