Narrowbody Aircraft MRO Market Analysis by Current Industry Status & Growth Opportunities, Top Key Players and Forecast 2023
Global Narrowbody Aircraft MRO Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
Pune , India – June 11, 2019 /MarketersMedia/ —
Narrowbody Aircraft MRO Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By MRO Type (Airframes and Modification, Components, Engines, and Line Maintenance), by Platform (Military and Commercial), and by Region – Global Forecast to 2023
The global narrow body aircraft MRO market is expected to exhibit a CAGR of 5% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global narrow body aircraft MRO market is assessed in detail in the report, which presents to the readers a clear picture of the global market’s current position and likely trajectory in the future.
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The global narrow body aircraft MRO market is mainly driven by the growing support from regulations for regular MRO scheduling among airlines. Commercial aircraft safety has become a major topic of contention in the global aviation industry, with several governments backing proposals to ensure strict maintenance of MRO schedules in order to maintain top form in the aircraft. MRO, i.e. maintenance, repair and overhaul operations are vital in ensuring long operational lives for aircraft, which is being further backed up by the growing government support, which is likely to drive the global narrow body aircraft MRO market at a steady growth rate over the forecast period.
The growing demand for air travel in developing countries is likely to be a major driver for the global narrow body aircraft MRO market over the forecast period, as the rapid development of the aviation industry in countries like China, India, the UAE, Brazil, and Indonesia is leading to steady development of MRO infrastructure to back up the growing aviation industry. On the other hand, the increasing costs of MRO services and the even higher costs of retrofitting older airplanes with modern technologies could hamper the growth of the global narrow body aircraft MRO market over the forecast period.
Leading Players
• Singapore Technologies Aerospace
• GMF AeroAsia
• Jet Maintenance Solutions
• Air Works
• Rolls-Royce
• Pratt & Whitney
• Lufthansa Technik
• Honeywell Aerospace
• GE Aviation
In May 2019, GA Telesis announced that its MRO Services Group has received landing gear certification, allowing the company to offer landing gear MRO services on top of the company’s preexisting catalog.
Segmentation:
The global narrow body aircraft MRO market is segmented on the basis of MRO type, platform, and region.
By type, the global narrow body aircraft MRO market is segmented into engines, line maintenance, components, and airframes and modification. The engines segment is likely to hold the largest share in the global narrow body aircraft MRO market over the forecast period.
By platform, the market is segmented into military and commercial. The commercial aircraft segment is expected to dominate the global narrow body aircraft MRO market over the forecast period due to the growing demand for commercial air travel in developing economies such as Asia Pacific.
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Regional Analysis:
North America is likely to dominate the global narrow body aircraft MRO market over the forecast period due to the growing demand for long-haul flights in the region and the increasing government support to MRO operations being made mandatory for airliners. The U.S. is also home to several leading players in the global aviation industry, including aircraft manufacturers as well as MRO service providers. This could be a major driver for the narrow body aircraft MRO market in North America over the forecast period.
Asia Pacific is likely to hold the second largest share in the global narrow body aircraft MRO market over the forecast period due to the growing popularity of air travel in the region and the consequent increase in the demand for MRO services. The high share of low-cost airliners in Asia Pacific is also likely to be conducive to smooth growth of the narrow body aircraft MRO market in the region over the forecast period, as low-cost airliners generally prefer narrow body aircraft.
Europe follows Asia Pacific and is likely to hold on to a significant share in the global narrow body aircraft MRO market, largely thanks to the dominant global position of industry leaders such as Lufthansa Technik.
Scope of Report
The report for Global Narrowbody Aircraft MRO Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
List of Tables
Table 1 Global Narrow Body Aircraft Mro Market, by Region, 2018–2023
Table 2 North America: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 3 Europe: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 4 Asia-pacific: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 5 Middle East & Africa: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 6 Latin America: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Table 7 Global Narrow Body Aircraft Mro Market, by Region, 2018–2023
Table 8 North America: Narrow Body Aircraft Mro Market, by Country, 2018–2023
Continued……..
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Narrow Body Aircraft Mro Market Share, by Mro Type, 2017 (%)
Continued…….
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