The Aircraft Maintenance, Repair And Overhauling Services Market Is Estimated To Reach $76.87 Billion By 2027 At A CAGR Of 3.3% – Includes Aircraft Maintenance, Repair And Overhauling Services Market Size
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Rapid advances in wireless technology and miniaturization are expected to drive innovation in aircraft maintenance, repair, and overhauling services manufacturing, thus driving the market during the forecast period.
The global aircraft maintenance, repair, and overhauling services market is expected to grow from $56.46 billion in 2022 to $67.47 billion in 2023 at a compound annual growth rate (CAGR) of 19.5%. The aircraft maintenance, repair and overhauling services market is expected to grow to $76.87 billion in 2027 at a CAGR of 3.3%.
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Global Aircraft Maintenance, Repair, And Overhauling Services Market Segments Include:
- By Type: Commercial Aircrafts MRO Services, Commercial Helicopters MRO Services, Commercial Gliders and Drones MRO Services, Aircraft Turbines MRO Services, Aircraft Engines MRO Services, Rocket Engines MRO Services
- By Aircraft Division: Engine, Cabin Interior, Airframe, Avionics, Others
- By Size: Wide-Body, Narrow-Body, Regional, Others
- By Service Type: Annual Maintainance Contract, Individual Works, Others
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global aircraft maintenance, repair, and overhauling services market in 2021.
Major Market Players in the aircraft maintenance, repair, and overhauling services market include General Electric Company, The Boeing Company, Rolls-Royce Holdings plc, Honeywell International Inc., Lufthansa Group, Safran SA.
Digital thread and digital twin are two interlinked concepts trending in the aircraft parts manufacturing, repair, and maintenance market. The digital thread is a communication framework that allows connected data flow throughout the lifecycle and across functions such as design, engineering, production, and maintenance, providing an integrated, authoritative, up-to-the-minute view of the asset’s data that can be accessed at anytime, anywhere. A digital twin includes design specifications and engineering models describing its geometry, materials, parts, and behavior, which give a digital model of a particular product. Both concepts analyze data captured digitally from end-to-end throughout a product’s lifecycle, beginning with design and extending through maintenance, repair, and overhaul to improve the performance of future programs. In aircraft maintenance complexity, this helps in maintaining digital records, minimizing downtime, and streamlining regulatory compliance.
The Aircraft Maintenance, Repair And Overhauling Services Global Market Report 2023 provides a aircraft maintenance, repair, and overhauling services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aircraft maintenance, repair, and overhauling services market forecast analyzes aircraft maintenance, repair, and overhauling services market size, aircraft maintenance, repair, and overhauling services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The aircraft maintenance, repair, and overhauling services refer to maintain, repair, and overhaul services of aircraft, including helicopters, gliders, drones, aircraft turbines, aircraft engines, and rocket engines. The aircraft maintenance, repair, and overhauling services market includes sales of spare parts to end consumers by aircraft MRO providers that are used during the aircraft MRO activities.
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