Market Share of Europe Aircraft Engine MRO Industry
The Europe aircraft engine MRO market is semi-consolidated with the presence of prominent players such as Safran, Rolls-Royce plc, Lufthansa Technik AG, Pratt & Whitney (RTX Corporation), Honeywell International Inc., and the General Electric Company are some of the prominent players in the market. The primary engine MRO providers are entering into long-term partnerships or forming joint ventures to grow their business presence and customer base. For instance, Lufthansa Technik formed joint ventures with various engine manufacturers, like Rolls-Royce plc, General Electric Company, and MTU Aero Engines AG, to provide engine MRO operations for customers in the European region. For instance, in September 2023, Air France and Airbus launched exclusive negotiations on a 50% Joint Undertaking in Component Maintenance Services to deal more effectively with the increasing longer-term maintenance needs of the Airbus A350. The agreement will provide supply chain management, repair, and the creation of a global pool of aircraft components. This agreement would bring together the expertise of AFI KLM E&M and Airbus.
Forming partnerships also ensures that certain players maintain specific components with the proper knowledge. Players are focusing on utilizing advanced technologies like automation and artificial intelligence in their maintenance units, which help them increase productivity while reducing their maintenance costs, thereby boosting their profits in the long run. As per Statista, over 30 % of the aircraft engine servicing, repair, and overhaul MRO market from 2020 to 2029 is expected to be covered by General Electric Aviation. During the same period, CFM International will most likely supply 28 % of the MRO market for commercial aircraft.
Europe Aircraft Engine MRO Market Leaders
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Lufthansa Technik AG
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Rolls-Royce plc
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General Electric Company
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Safran
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
