Market Share of Commercial Aircraft Maintenance, Repair, And Overhaul (MRO) Industry
The market for commercial aircraft MRO is highly fragmented, with many players with different MRO capabilities offering services both globally and regionally. GE Aviation (General Electric Company), AAR CORP, Safran SA, RTX Corporation, and Lufthansa Technik AG are prominent commercial aircraft MRO market players.
Currently, the positive market outlook of the MRO market has led to new players entering the market and existing players expanding their presence in new geographical locations. SIA Engineering Company Limited established a new Engine Services Division (ESD) to develop and provide engine services like engine maintenance, parts repair, on-wing services, storage and preservation, material management, and engine testing. The new business unit is expected to complement SIAEC's network of engine joint ventures in Singapore.
The companies invest in artificial intelligence, robotics, drones, big data, and blockchain technologies to support maintenance, repair, and overhaul activities. With the advent of new-generation aircraft, the TBO (time between overhauls) of aircraft is increasing, which may challenge the existence of smaller players in the coming years. However, the revenue generated from regular aircraft maintenance and repair will continue to grow with the growing fleet.
Aircraft MRO Market Leaders
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Safran SA
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Lufthansa Technik AG
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RTX Corporation
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GE Aviation (General Electric Company)
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AAR CORP.
*Disclaimer: Major Players sorted in no particular order
