Escalating demand and growing introduction of new generation less maintenance aircraft and reassembling of heavy parts led the airline companies to focus on outsource MRO. Endless effort for cost reduction plan by maintenance are viewed as the key factor impacting the growth of the global air transport MRO market positively. According to Trends Market Research, the air transport MRO market will register growth at a healthy pace during the forecast period 2021-2028.
Introduction of low maintenance aircraft will tend to boost trend
According to report, Growth of the global air transport MRO market is expected to be raised by several macro-economic and micro-economic factors. Numerous concern from airframe OEM’S, launching of new generation less maintenance aircraft, constant focus on price reduction through maintenance, outsourcing and internationalization of MRO market are the key factor responsible for growth and demand of the air transport MRO market. Endless innovation and the idea of automated reporting and maintenance will push the concept of the air transport MRO.
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In foreseeable future, endless launching of new products, low margin, supply and demand portfolios, entry bar posed by the dominating players and immature software vendor market can hinder the growth of the market. Apart from that the huge investment involved by the aviation authorities for MRO innovation can pull down the growth of the global air transport MRO market. But, continuous introduction of less maintenance aircraft will rev-up the usage in aviation industry.
Apropos the ongoing report, the global air transport MRO market is segmented on the basis of product type, their service, on the basis of geographic target market and heavy maintenance service. North America and Western Europe are major economic hubs in the global air transport MRO market.
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It is observed that the most of the OEM’s and air transport market is located in North America. Other than that Middle East, China and India will recorded as the developing market which has more future opportunities for the growth of the overall air transport MRO market. The report suggest that the global market will witness healthy growth over the coming years on the back of such factors.
Key Market Players
Companies such as Iberia Maintenance (Israel), IAI (Spain), HEICO (U.S.), GE Aviation (U.S.), Rockwell Collins (U.S.) and Prattand Whitney (Canada) among other expected to remain active in expansion of the global market for air transport MRO market.
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The ongoing study also recognize that Mubadala Aerospace (U.A.E), Delta TechOps (U.S.), Timco Aviation Services (U.S.), Lufthansa Technik (Germany) and ST Aerospac (Singapore) will remain the leading company in terms of contributing largest market share in terms of generating revenue and will remain the key players in the global air transport MRO market for the forecast period.