Aircraft Engine MRO Market Overview

The Aircraft Engine MRO Market was valued at USD 23.5 billion in 2023. It is projected to grow from USD 24.1 billion in 2024 to USD 34.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024 - 2030). The expansion of airline and military fleets is a key driver of this market growth.

Aircraft Engine MRO Market Trends

Rising Air Travel and Fleet Expansion Fueling Market Growth The aircraft engine MRO market growth for is driven by the increasing number of air travelers and the expansion of airline fleets. Numerous new MRO support centres have been established in various countries. Regional companies (Tier-II or Tier-III suppliers) are enhancing their presence in the aircraft engine MRO market. The rise in foreign trade has also led to an increased frequency of cargo aircraft operations. Consequently, timely inspections and repairs of airplanes are essential for optimal efficiency and safety. Additionally, the industry is driven by stringent flight regulations and the need for effective maintenance of aircraft engines and components.

Technological Advancements Boosting Market Expansion The adoption of the most fuel-efficient engines, like the Leading Edge Aviation Propulsion (LEAP) engine, has accelerated the growth of the aircraft engine MRO market. The demand for maintaining engines and components properly is anticipated to drive market growth. The global aircraft fleet is expected to exceed 38,000 by 2028, boosting the aircraft maintenance market to an estimated $115 billion by 2028.

Investments in Aircraft Engine MRO Software Investments in aircraft engine MRO software (maintenance, repair, and overhaul) are expected to create new business opportunities. This software includes features like maintenance tracking, logbook tracking, flight time tracking, service bulletin management, maintenance scheduling, budget forecasting, electronic task card management, and work order management.

Request Free Sample Report - Receive a free sample report to preview the valuable insights and data we offer.

Aircraft Engine MRO Market Segment Insights

Engine Type Insights The market is segmented by engine type into turbine engines and piston engines. The turbine engine segment, accounting for 58% of market revenue, dominated the market. Turbine engines include turboprops, turbofans, and turboshafts. The demand for turboprop and turboshaft aircraft, along with the aging turboprop fleet, is driving growth in this segment. Joint partnerships between engine suppliers and local industries are creating frameworks for providing fleet repair services to governments.

Aircraft Type Insights Based on aircraft type, the market is segmented into fixed-wing and rotary-wing aircraft. The fixed-wing segment generated the most income (73.5%). Fixed-wing aircraft, with integrated control surfaces like ailerons, rudders, and elevators, offer several advantages over rotary-wing aircraft, including endurance, wide-area coverage, high flight speed, and greater passenger carrying capacity. These aircraft are in increasing demand due to the rapid rise in air passenger traffic, driving the growth of this segment.

Application Insights The market is segmented by application into civil aviation and military aviation. The civil aviation segment dominated the market, accounting for 75.9% of market revenue ($16.8 billion). The larger fleet of commercial aircraft and higher maintenance costs compared to general aviation planes drive this segment. Several new agreements between airlines and MRO service providers for aircraft engine maintenance have been signed recently. For example, in November 2021, SR Technics signed an agreement with Vietjet Air to provide MRO services for the engines on Vietjet's Airbus A320 and Airbus A321 aircraft.

Aircraft Engine MRO Market Regional Insights

Asia-Pacific The Asia-Pacific region dominates the aircraft engine MRO market. With a third of the global aircraft fleet operated in this region, the figure is expected to grow during the forecast period. The advanced and widely available MRO options in Asia-Pacific allow airlines to extend the lifespan of their fleets. MRO providers are targeting the region due to its large client base, attractive investment opportunities, and low labor costs.

North America North America holds the second-largest market share due to sustainable goals achieved with advanced technologies. As the world's largest aircraft fleet, North America generates a significant demand for aircraft maintenance and repair services. However, entry into this market is challenging due to high safety standards and regulations. The ease of deploying advanced technologies also attracts MROs to this market.

Europe The European aircraft engine MRO market is expected to grow at the fastest CAGR from 2023 to 2030. Growth in air traffic will fuel regional growth in Europe. The reliance on advanced technologies for repair practices and OEMs will contribute to industry growth. Other factors, such as growing international trade and the need for new aircraft, may also drive regional growth. For example, Air China plans to establish a joint venture MRO facility with Rolls-Royce in China, worth around USD 378.2 million, to provide MRO support for various Rolls-Royce engines.

Aircraft Engine MRO Key Market Players & Competitive Insights

Leading market players are heavily investing in research and development to expand their product lines, further driving the growth of the aircraft engine MRO market. Market participants are engaging in strategic activities, including new product launches, contractual agreements, mergers and acquisitions, and collaborations. The industry must offer cost-effective solutions to thrive in a competitive market environment.

Key Companies in the Aircraft Engine MRO Market

• GE Aviation (U.S.)
• Rolls-Royce (U.K.)
• Pratt & Whitney (U.S.)
• Lufthansa Technik (Germany)
• Safran Aircraft Engines (Paris)
• SIA Engineering Company (Singapore)
• Air France Industries KLM Engineering & Maintenance (France)
• MTU Aero Engines (Germany)
• ST Aerospace (Singapore)
• Delta TechOps (U.S.)

Notable Developments MTU Aero Engines AG, in partnership with Lufthansa Technik, developed an overhaul shop for Pratt & Whitney PW1000G engines. They focused on a modular architecture with optimal processes and material flows. Additionally, SIA Engineering Co Ltd provides overhaul and technical ground handling services, along with manufacturing aircraft cabin equipment and renovating aircraft galleys.

Browse Report – Explore the report’s contents, sections, and key insights by browsing through its detailed information

About US

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor New York 10013, United States of America

Sales: +1 628 258 0071 (US) +44 2035 002 764 (UK)

Email: Sales@marketresearchfuture.com