Asia Pacific Airframe MRO Market Forecast to 2030
Asia Pacific Airframe MRO Market Forecast to 2030 – Regional Analysis – by Aircraft Type (Fixed-Wing Aircraft and Rotary-Wing Aircraft) and Component (Fuselage, Wings and Rotors, Landing Gear, and Others)
$2,840 – $4,440
- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
- Reviews (0)
Description
Growing Integration of Digital Technology in MRO Industry Boosts Asia Pacific Airframe MRO Market
The implementation of digital technologies is a necessary step toward the growth of MRO companies; this helps them create continuous data flow through various levels of the supply chain, further streamlining the communication between the stakeholders and accelerating innovation in various operations. The digital revolution in the aviation industry significantly impacts all areas of the supply chain of the aviation industry, including aircraft operations, air traffic management, and aircraft and component manufacturing and servicing. Data-driven technologies such as data analytics, which help in tracking airframe MRO activities in real-time, also optimize the air travel experience of crew and passengers. AI, machine learning, and other advanced technologies facilitate the airline crew and management to understand the airworthiness of the aircraft.
Also, the MRO service providers incorporate AI technologies to boost their procedures by easily and efficiently conducting visual checks and understanding the degree of maintenance and repairs required on the aircraft. Thus, the increasing integration of digital technologies such as AI and machine learning drives the Asia Pacific airframe MRO market.
Asia Pacific Airframe MRO Market Overview
Asia Pacific is a diverse region that houses more than 4 billion people and also comprises dynamic economies that cumulatively generate 35% of the global GDP. The aviation industry in the region is a pivotal contributor to its social and economic development. The growth of Asia Pacific aviation industry has been primarily attributed to the wide range of income levels and the rapidly growing middle-class population. This resulted in robust sales gains in fast-developing economies of Asia Pacific, such as India and China. The region is expected to create ample opportunities for providers of airframe MRO services. APAC has several growing economies, which are leading the growth of a variety of sectors, including aerospace, military & defense, and technology. Many emerging economies in APAC are attracting investment from the regulatory bodies to enhance technologies.
Numerous global players are expanding their MRO facilities across APAC. For instance, in July 2022, Safran AB (one of the leading suppliers of key aircraft components, including landing gear, wheels and brakes, and wiring) announced an investment of US$ 305 million in India to expand their MRO activities in the region. The company is also planning to invest US$ 204.15 million in one of the largest MRO facilities in the world in Hyderabad. Such investments of global players will boost the growth of the airframe MRO market during the forecast period.
Asia Pacific Airframe MRO Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Airframe MRO Market Segmentation
The Asia Pacific airframe MRO market is segmented based on aircraft type, component, and country.
Based on aircraft type, the Asia Pacific airframe MRO market is bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment held a larger share in 2022.
In terms of component, the Asia Pacific airframe MRO market is segmented into fuselage, wings and rotors, landing gear, and others. The fuselage segment held the largest share in 2022.
Based on country, the Asia Pacific airframe MRO market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific airframe MRO market in 2022.
AAR CORP, Barnes Group Inc, GE Aviation, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Lufthansa Technik, Delta TechOps, Rolls-Royce Holdings Plc, and Collins Aerospace are some of the leading companies operating in the Asia Pacific airframe MRO market.
Summary Info
| Industry: | |
|---|---|
| Pricing options: | |
| Geographical coverage: | |
| Year of Publication: |
According to the Research Team’ research, the Asia Pacific airframe MRO market was valued at US$ 7,085.01 million in 2022 and is expected to reach US$ 10,759.90 million by 2030, registering a CAGR of 5.4% from 2022 to 2030. Retrofitting of older aircraft fleet and increasing adoption of sustainable aviation fuel (SAF) are among the critical factors attributed to the Asia Pacific airframe MRO market expansion.
Retrofitting, which refers to the installation or addition of newer technologies on older aircraft fleets, helps increase passenger comfort and safety and facilitates the airlines in maintaining their older fleets. Continuous advancements in aircraft technologies are resulting in the upgrade of MRO capabilities. MRO service providers are constantly seeking upgrades and procurement of newer technologies in order to service the newer aircraft as well as retrofit the upgraded technologies on the older aircraft fleets. In the current scenario, global commercial airlines are keeping their older aircraft fleet owing to the drop in fuel prices. This factor is compelling the airlines to opt for MRO activities frequently, which is facilitating the MRO service providers to offer the airlines to retrofit the aircraft fleet with newer technologies. Hence, the integration of advanced and modern technologies into older aircraft fleets is expected to change the Asia Pacific airframe MRO market landscape as well as revolutionize the aviation industry. Adoption of technology has enabled many aircraft fleet owners to manage their maintenance schedule. Retrofitting such technology in the older aircrafts is supporting the fleet owners to provide enhanced comfort and safety to their passengers with the help of timely maintenance. Thus, the retrofitting of older aircraft fleets is likely to create opportunities for the Asia Pacific airframe MRO market growth during the forecast period.
On the contrary, entry of OEMs in aftermarket hampers the growth of Asia Pacific airframe MRO market.
Based on aircraft type, the Asia Pacific airframe MRO market is bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment held 68.6% share of the Asia Pacific airframe MRO market in 2022, amassing US$ 4,859.42 million. It is projected to garner US$ 7,193.49 million by 2030 to expand at 5.0% CAGR during 2022-2030.
In terms of component, the Asia Pacific airframe MRO market is segmented into fuselage, wings and rotors, landing gear, and others. The fuselage segment held 44.8% share of the Asia Pacific airframe MRO market in 2022, amassing US$ 3,175.74 million. It is estimated to garner US$ 4,623.27 million by 2030 to expand at 4.8% CAGR during 2022-2030.
Based on country, the Asia Pacific airframe MRO market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 36.7% share of Asia Pacific airframe MRO market in 2022, amassing US$ 2,596.80 million. It is projected to garner US$ 3,970.40 million by 2030 to expand at 5.5% CAGR during 2022-2030.
Key players operating in the Asia Pacific airframe MRO market are AAR CORP, Barnes Group Inc, GE Aviation, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Lufthansa Technik, Delta TechOps, Rolls-Royce Holdings Plc, and Collins Aerospace
2023: FL Technics Indonesia (PT Avia Technics Dirgantara), a subsidiary of FL Technics, a leading aircraft maintenance solutions group, and PT Angkasa Pura Property, together with PT Angkasa Pura I (Persero), starts the development of 17,000 sq. m. aircraft MRO hub, the first at I Gusti Ngurah Rai International Airport (DPS) in Bali. FL Technics is set to invest US$25 million in the initial stage to undertake an MRO construction and development project set to be finished in a year.
2022: Collins Aerospace announced that it has entered into a long-term Maintenance Repair Overhaul (MRO) agreement with Singapore Airlines and Scoot, to support the Singapore Airlines Group fleet of 55 Boeing 787 aircraft. Through its FlightSense program, Collins will provide the airlines with full lifecycle support for high-performance pool access, maintenance services and reliability upgrades.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific airframe MRO market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Airframe MRO Market Landscape
4.1 Overview
4.2 Porter’s Analysis
4.3 Ecosystem Analysis
4.3.1 Component Suppliers
4.3.2 MRO Service Providers
4.3.3 End Users
4.4 List of Vendors
4.4.1 List of Vendors for the Airframe MRO
5. Asia Pacific Airframe MRO Market – Key Industry Dynamics
5.1 Asia Pacific Airframe MRO Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Wide Presence of MRO Service Providers in Emerging Economies
5.2.2 Growing Integration of Digital Technology in MRO Industry
5.3 Market Restraints
5.3.1 Entry of OEMs in Aftermarket
5.4 Market Opportunities
5.4.1 Retrofitting of Older Aircraft Fleet
5.4.2 Increasing Adoption of Sustainable Aviation Fuel (SAF)
5.5 Future Trends
5.5.1 Blockchain Technology Changing MRO Landscape
5.6 Impact of Drivers and Restraints:
6. Airframe MRO Market – Asia Pacific Market Analysis
6.1 Asia Pacific Airframe MRO Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific Airframe MRO Market Forecast and Analysis
7. Asia Pacific Airframe MRO Market Analysis – Aircraft Type
7.1 Overview
7.1.1 Asia Pacific Airframe MRO Market, By Aircraft Type (2022 and 2030)
7.2 Fixed Wing
7.2.1 Overview
7.2.2 Fixed Wing Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Rotary Wing
7.3.1 Overview
7.3.2 Rotary Wing Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Airframe MRO Market Analysis – Component
8.1 Overview
8.1.1 Asia Pacific Airframe MRO Market, By Component (2022 and 2030)
8.2 Fuselage
8.2.1 Overview
8.2.2 Fuselage Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Wings and Rotors
8.3.1 Overview
8.3.2 Wings and Rotors Market, Revenue and Forecast to 2030 (US$ Million)
8.4 Landing Gear
8.4.1 Overview
8.4.2 Landing Gear Market, Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Airframe MRO Market – Country Analysis
9.1 Asia Pacific
9.1.1 Asia Pacific Airframe MRO Market Revenue and Forecasts and Analysis – By Country
9.1.1.1 Asia Pacific Airframe MRO Market Revenue and Forecasts and Analysis – By Country
9.1.1.2 Australia Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.2.1 Australia Airframe MRO Market Breakdown by Aircraft Type
9.1.1.2.2 Australia Airframe MRO Market Breakdown by Component
9.1.1.3 China Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.3.1 China Airframe MRO Market Breakdown by Aircraft Type
9.1.1.3.2 China Airframe MRO Market Breakdown by Component
9.1.1.4 India Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.4.1 India Airframe MRO Market Breakdown by Aircraft Type
9.1.1.4.2 India Airframe MRO Market Breakdown by Component
9.1.1.5 Japan Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.5.1 Japan Airframe MRO Market Breakdown by Aircraft Type
9.1.1.5.2 Japan Airframe MRO Market Breakdown by Component
9.1.1.6 South Korea Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.6.1 South Korea Airframe MRO Market Breakdown by Aircraft Type
9.1.1.6.2 South Korea Airframe MRO Market Breakdown by Component
9.1.1.7 Rest of APAC Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.7.1 Rest of APAC Airframe MRO Market Breakdown by Aircraft Type
9.1.1.7.2 Rest of APAC Airframe MRO Market Breakdown by Component
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Mergers & Acquisitions
11. Company Profiles
11.1 AAR CORP
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Barnes Group Inc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 GE Aviation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Turkish Technic Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Singapore Technologies Engineering Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Lufthansa Technik
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Delta TechOps
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Rolls-Royce Holdings Plc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Collins Aerospace
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About the Research Team
LIST OF TABLES
Table 1. Asia Pacific Airframe MRO Market Segmentation
Table 2. Asia Pacific Airframe MRO Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Asia Pacific Airframe MRO Market Revenue and Forecasts to 2030 (US$ Million) – Aircraft Type
Table 4. Asia Pacific Airframe MRO Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 5. Asia Pacific Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 6. Australia Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Aircraft Type
Table 7. Australia Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 8. China Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Aircraft Type
Table 9. China Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 10. India Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Aircraft Type
Table 11. India Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 12. Japan Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Aircraft Type
Table 13. Japan Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 14. South Korea Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Aircraft Type
Table 15. South Korea Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 16. Rest of APAC Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Aircraft Type
Table 17. Rest of APAC Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
LIST OF FIGURES
Figure 1. Asia Pacific Airframe MRO Market Segmentation, By Country
Figure 2. Porter’s Analysis
Figure 3. Ecosystem: Asia Pacific Airframe MRO Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Asia Pacific Airframe MRO Market Revenue (US$ Million), 2022 – 2030
Figure 6. Asia Pacific Airframe MRO Market Share (%) – Aircraft Type, 2022 and 2030
Figure 7. Fixed Wing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Rotary Wing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Asia Pacific Airframe MRO Market Share (%) – Component, 2022 and 2030
Figure 10. Fuselage Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Wings and Rotors Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Landing Gear Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Asia Pacific Airframe MRO Market, by Key Country – Revenue (2022) (US$ Million)
Figure 15. Asia Pacific Airframe MRO Market Breakdown by Country (2022 and 2030)
Figure 16. Australia Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 17. China Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 18. India Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 19. Japan Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 20. South Korea Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21. Rest of APAC Airframe MRO Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – Asia Pacific Airframe MRO Market
1. AAR CORP
2. Barnes Group Inc
3. GE Aviation
4. Turkish Technic Inc.
5. Singapore Technologies Engineering Ltd
6. Lufthansa Technik
7. Delta TechOps
8. Rolls-Royce Holdings Plc
9. Collins Aerospace
You must be logged in to post a review.
Reviews
There are no reviews yet.