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Global Aircraft Maintenance, Repair and Overhauling Services Market 2021-2030: Rising Cyber-Attacks on Confidential Data Expected to Restrain Market Growth

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Dublin, Feb. 25, 2021 (GLOBE NEWSWIRE) — The “Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.

Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global aircraft maintenance, repair and overhauling services market as it emerges from the COVID-19 shut down.

Where is the largest and fastest growing market for the aircraft maintenance, repair and overhauling services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Aircraft Maintenance, Repair and Overhauling Services market global report answers all these questions and many more.

Major companies in the aircraft maintenance, repair and overhauling services market include Honeywell Aerospace; AAR Corporation; Air France Industries KLM Engineering & Maintenance; Airbus SAS and The Boeing Company.

The global aircraft maintenance, repair and overhauling services market is expected to grow from $63.19 billion in 2020 to $68.06 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%.

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $87.6 billion in 2025 at a CAGR of 7%.

The aircraft maintenance, repair and overhauling services market consists of sales of aircraft maintenance, repair and overhauling (MRO) services and related goods by entities (organizations, sole traders or partnerships) that maintain, repair and overhaul commercial aircraft including helicopters, gliders, drones, aircraft turbines, aircraft engines and rocket engines.

The market numbers in this report include sales of spare parts to end consumers by aircraft MRO providers that are used during the aircraft MRO activities. The aircraft maintenance, repair and overhauling services market is segmented into commercial aircrafts MRO services; commercial helicopters MRO services; commercial gliders and drones MRO services; aircraft turbines MRO services; aircraft engines MRO services and rocket engines MRO services.

Asia Pacific was the largest region in the global aircraft maintenance, repair and overhauling services market, accounting for 38% of the market in 2020. North America was the second largest region accounting for 23% of the global aircraft maintenance, repair and overhauling services market. Africa was the smallest region in the global aircraft maintenance, repair and overhauling services market.

Digital thread and digital twin are two interlinked concepts trending in the aircraft parts manufacturing, repair & maintenance market. 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.

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.

Rising cyber-attacks on the confidential data transferred through sensitive paths in the value chain of the aerospace industry are expected to be a restraint on the aircraft maintenance, repair and overhauling services market in the forecast period. Companies involved in the value chain of aircraft maintenance, repair and overhauling services exchange a lot of confidential data on specifications, technology and performance of equipment or services to enhance collaborations on design, development and support.

Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in defense market, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs and higher margins. Lower operating costs lead to higher margins, this allows companies to expand production and increase product portfolio, thus driving the growth of the aircraft maintenance, repair and overhauling services market.

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Aircraft Maintenance, Repair and Overhauling Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations

4. Aircraft Maintenance, Repair and Overhauling Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products

5. Aircraft Maintenance, Repair and Overhauling Services Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers

6. Aircraft Maintenance, Repair and Overhauling Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth

7. Aircraft Maintenance, Repair and Overhauling Services Market Trends And Strategies

8. Impact Of COVID-19 On Aircraft Maintenance, Repair and Overhauling Services

9. Aircraft Maintenance, Repair and Overhauling Services Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market

10. Aircraft Maintenance, Repair and Overhauling Services Market Regional Analysis
10.1. Global Aircraft Maintenance, Repair and Overhauling Services Market, 2020, By Region, Value ($ Billion)
10.2. Global Aircraft Maintenance, Repair and Overhauling Services Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Aircraft Maintenance, Repair and Overhauling Services Market, Growth And Market Share Comparison, By Region

11. Aircraft Maintenance, Repair and Overhauling Services Market Segmentation
11.1. Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • 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

11.2. Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Aircraft Division, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Engine
  • Cabin Interior
  • Airframe
  • Avionics
  • Others

11.3. Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Size, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Wide-Body
  • Narrow-Body
  • Regional
  • Others

11.4. Global Aircraft Maintenance, Repair and Overhauling Services Market, Segmentation By Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Annual Maintainance Contract
  • Individual Works
  • Others

12. Aircraft Maintenance, Repair and Overhauling Services Market Metrics
12.1. Aircraft Maintenance, Repair and Overhauling Services Market Size, Percentage Of GDP, 2015-2025, Global
12.2. Per Capita Average Aircraft Maintenance, Repair and Overhauling Services Market Expenditure, 2015-2025, Global

Companies Mentioned

  • Honeywell Aerospace
  • AAR Corporation
  • Air France Industries KLM Engineering & Maintenance
  • Airbus SAS
  • The Boeing Company

For more information about this report visit https://www.researchandmarkets.com/r/cxij70

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