Rise in Air Travel Drives Airframe MRO Market Growth
Airlines are maximizing the utilization of their aircraft to meet the growing passenger demand. As a result, aircraft spend more time in the air and require frequent maintenance checks to ensure their airworthiness. As more people choose air travel, airlines are operating more flights with shorter turnaround times between departures. This increased flight frequency leads to greater demands for aircraft maintenance services to ensure safe and reliable operations. In 2021, the European Union (EU) experienced a significant rebound in air travel as the total number of passengers reached 373 million; this figure reflects a remarkable increase of 34.9% compared to 2020. The highest surge in air passenger numbers was observed in Croatia, which experienced a remarkable increase of 129.4% in 2021 in comparison to 2020. Further, Cyprus and Greece recorded substantial growth rates of 104.8% and 85.9%, respectively, in 2021. This surge in passenger numbers, particularly in countries such as Croatia, Cyprus, and Greece, highlights the growing demand for air travel and the subsequent need for more frequent and efficient maintenance and repair services to ensure the safety and reliability of aircraft. As air travel continues to rise, airframe MRO market players providers play a crucial role in meeting the maintenance demands of airlines, contributing to the the airframe MRO market growth.
After considering several approaches, government bodies ensure that sufficient space is mandatorily allocated at airports for MRO, and this can lead to an improvement in terms of airframe MRO activities. They are also striving to improve their airport infrastructure to provide high-quality MRO services. For instance, in August 2023, VK Singh, the Minister of State for Civil Aviation, announced that the Government of India allocated US$ 12 billion for the enhancement of 41 existing airports. Further, the government plans to construct nine new “greenfield” airports in order to fulfill the growing need for domestic and international air travel in the country. The noteworthy approach toward the development of airport infrastructure is expected to fuel the airframe MRO market share of the country during the forecast period.
The global airframe MRO market share is segmented on the basis of type, end users, and component. Based on aircraft type, the market is bifurcated into fixed wing aircraft and rotary wing aircraft. By end users, the market is bifurcated into commercial and military. Further, based on component, the market is categorized into fuselage, wings and rotors, landing gear, and others. The global airframe MRO market is also analyzed on the basis of five major regions—North America, Europe, APAC, the MEA, and SAM.
The ecosystem of the airframe MRO market comprises various components that include component manufacturers, MRO service providers, and end users. Airframe component manufacturers and MRO service providers offer services to commercial and military aviation players. MRO services are essential for commercial aircraft to ensure that they are maintained in predetermined conditions. There was an increase in demand for MRO services during the COVID-19 pandemic, as most of the aircraft are grounded, and rescheduling a flight requires a prior check-up to ensure the aircraft is ready to take off. In order to provide robust maintenance services to various airframe components, companies such as Lufthansa Technik AG and AAR Corp. are increasingly focusing on developing innovative aviation services integrated with blockchain and other advanced technologies to fulfill the demand of commercial and military end users.
Airframe MRO Market Analysis: Aircraft Type Overview
In the current aviation sector, the fixed-wing aircraft segment is experiencing a significant boom owing to the exponential rise in air travel passengers across the world. This is leading to an increase in the number of new aircraft, which is simultaneously increasing the size of the existing aircraft fleet. All these aircraft demand regular maintenance and repair activities owing to the need for optimal performance. Airlines worldwide are undertaking initiatives to modernize their existing fleet with advanced technologies. The upward trend in aircraft retrofitting activities is boosting the revenue generation stream of market players operating in the airframe MRO market.
Airframe MRO Market: Competitive Landscape and Key Developments
Shell Plc, BP Plc, Associated Energy Group LLC, Viva Energy Group Ltd., TITAN Aviation Fuels Inc., CSI Enterprises Inc., Total Energies, EPIC Aviation LLC, Avfuel Corp, and Kropp Holdings Inc are among the key airframe MRO market players profiled during this study. In addition, several other important airframe MRO market players have been studied and analyzed during the study to get a holistic view of the airframe MRO market and its ecosystem.
| Year | News | Country |
| September, 2023 | To cater to the rising demand for airframe maintenance, repair, and overhaul (MRO) services in Asia Pacific, ST Engineering’s Commercial Aerospace business is expanding its capacity in Singapore with a new airframe maintenance facility in Singapore Changi Airport. Groundbreaking for the new facility was held at its location, next to the Changi Airfreight Center in Changi Creek, in the presence of industry and government partners. | APAC |
| August, 2023 | Barnes Group Inc announced that it has completed the acquisition of MB Aerospace, a leading provider of precision aero-engine component manufacturing and repair services serving major aerospace and defense engine OEMs, Tier 1 suppliers, and MRO providers. | North America |