Aircraft Engine MRO Market Forecast to 2028

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The Aircraft Engine MRO market size was valued at US$32.04 million in 2028, from US$22.15 million in 2021; it is expected to grow at a CAGR of 5.7% over the period 2022-2028. Aircraft engine MRO providers offer several services, such as routine engine maintenance.

New York, July 5 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Aircraft Engine MRO Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Engine, Application, and Aircraft Type” – https://www.reportlinker.com /p06289878/?utm_source=GNW
Some aircraft engine suppliers are focused on manufacturing one or two engines, while others have large multi-purpose engine portfolios.

All aircraft engines require routine maintenance and daily checks before aircraft flight. In transition, the aircraft fleet is redefining the aero engine MRO market due to the many permanent retirements of older aircraft.
The popularity of narrow-body aircraft has been increasing since 2021 due to decisions by the European Union Aviation Safety Agency and the Federal Aviation Administration to recertify commercial use of the Boeing 737 MAX. In 2021, more than 23,700 aircraft flew, of which more than 14,000 were narrow-body aircraft, due to this, the narrow-body segment accounted for a significant share of the global aircraft engine MRO market share.
The aero engine MRO market ecosystem is evolving. Additionally, major players hold places in the first node of the Aircraft Engine MRO market ecosystem.

Additionally, engine manufacturers and MRO service providers provide maintenance, repair and overhaul services to commercial airlines, military forces and general aviation owners.
Companies such as Delta Airlines, Inc.; GE Aviation; CFM International; Lufthansa Technik; MTU Aero Engines SA; SIA Engineering Society; Sigma Aerospace; Safran SA; Raytheon Technologies Company; and Rolls-Royce PLC are among the leading manufacturers in the aircraft engine MRO market. These companies are engaged in providing a wide range of aircraft engine MRO services to end users, such as commercial airliners, military forces, general aviation owners and other customers.
In February 2022, Safran Helicopter Engines signed a Memorandum of Understanding (MoU) with engineering to study the use of Sustainable Aviation Fuel (SAF) in helicopter engines, with the aim of helping operators in helicopters in their transition to the use of SAF.
In March 2022, Safran signed a “Memorandum of Understanding” with Hindustan Aeronautics Limited (HAL) to expand their cooperation and explore opportunities for new helicopter engines in the civil and military markets, reflecting their commitment to the Indian government’s vision “Atmanirbhar Bharat” towards achieving autonomy in defense technologies and MRO (Maintenance, Repair and Overhaul).

The Aircraft Engine MRO market study is segmented into engine, application and aircraft type. Based on engine, the aircraft engine MRO market is segmented into turbine engine and piston engine.

In 2020, the turbine engine segment dominated the aircraft engine MRO market with a larger share. Based on application, the market is segmented into commercial aviation, general aviation, and military aviation.

In 2020, the commercial segment accounted for the largest share of the global aircraft engine MRO market. Based on aircraft type, the market is segmented into fixed-wing aircraft and rotary-wing aircraft.
Fixed-wing aircraft dominated the aircraft engine MRO market in 2020 with a larger share. By geography, the market is primarily segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

In 2020, Asia-Pacific accounted for a major market share of the aircraft engine MRO market.

Key players profiled in the Aircraft Engine MRO Market analysis include Delta Airlines, Inc.; GE Aviation; CFM International; Lufthansa Technik; MTU Aero Engines SA; SIA Engineering Society; Sigma Aerospace; Safran SA; Raytheon Technologies Company; and Rolls-Royce PLC

The COVID-19 outbreak has had a negative impact on the world and disrupted economic conditions in several countries. Flights have remained idle in the Middle East and Africa (MEA) due to the COVID-19 pandemic, which has lowered demand for MRO services.

The crisis has led to a loss of business among the players in the aircraft engine MRO market offering their services to the respective airlines in the Middle East and Africa. According to the International Air Transport Association, airline revenues have been negatively impacted due to the temporary suspension of flights.

The most affected aviation market in the Middle East and Africa was Saudi Arabia, followed by the United Arab Emirates. More than 16,000 general aviation aircraft were canceled in the Middle East and Africa in 2020.

The reduction in flight activities in the Middle East and Africa has hampered the growth of the market in 2020.
Recently, many patients infected with Omicron (new variant of COVID-19) have been found in South African countries, which has become one of the major concerns in the world. The outbreak has led to the closure of international borders and the halting of African flights around the world.

The COVID-19 outbreak has led manufacturers to temporarily suspend operations or operate with minimal labor. This weakened the demand for aircraft components, which negatively impacted the MRO market for aircraft engines in the region.

However, in 2022, the Middle East is expected to receive around 1,211 aircraft and Africa 1,043 aircraft. By 2031, the number of aircraft deliveries is expected to increase to 2,382 and 1,328 in the Middle East and Africa, respectively.

The Middle East and Africa has a limited number of MRO providers who can perform all types of MRO operations. Thus, international MRO providers are trying to increase their footprint in the region. This is expected to propel the growth of the aircraft engine MRO market in the Middle East and Africa during the forecast period.
In 2021, Rolls-Royce signed a Total Care agreement with MNG Airlines for the Trent 700 engines that power its two additional Airbus A330-300 P2F freighters.
In 2021, Saudi Arabia’s low-cost airline flynas signed a multi-year RPFH agreement with CFM International for the LEAP-1A engines that power the airline’s fleet of 80 Airbus A320neos.

The global Aircraft Engine MRO market size has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves to get an overview and forecast for the Aircraft Engine MRO Market with respect to all segments. Additionally, several primary interviews were conducted with industry participants to validate the data and gain more analytical insights.

Participants in this process include vice presidents, business development managers, market intelligence managers, national sales managers and external consultants, such as valuation experts, research analysts and leaders. opinions, specializing in the MRO market for aircraft engines.
Read the full report: https://www.reportlinker.com/p06289878/?utm_source=GNW

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