The air transport M.R.O. market is projected to grow at a CAGR of 4.30%, with an estimated market size of USD 72.1 billion in 2021 to USD 92.8 billion by 2028. The increase in air passenger traffic, fleet iterations, the need to improve operability efficiency, and the necessity for disassembling, inspecting, and repairing various aircraft parts are anticipated to propel the air transport M.R.O. market. One of the factors driving the growth of the air transport M.R.O. industry is the ongoing emphasis on cost reduction via maintenance. The market is also being fueled by weak economic growth in established and developing economies and low worldwide investments in the aviation sector. However, a shortage of experienced manpower and higher maintenance cost is projected to hinder the air transport M.R.O. market growth.
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Air transport M.R.O. Market Dynamics
Drivers: Rising number of airline passengers
Due to the increasing number of middle-class travelers worldwide, the aviation business is expanding and will likely continue. By 2037, the number of passengers flying internationally could quadruple, increasing the number of flying hours for aircraft fleets. As a result, in the years to come, there will be a greater need for the maintenance and repair of aircraft components. More aviation sector growth would occur in APAC, particularly in China and India. To meet the rising demand for air travel, the Civil Aviation Administration of China (CAAC) plans to construct 216 new airports by 2035. This will have a direct positive impact on the aircraft M.R.O. market during the forecast period.
Key Market Players
The air transport M.R.O. market is dominated by a few global players and comprises several regional players. Some key manufacturers operating in the market are Aerospace Industries (I.A.I.), United Technologies Corporation (Pratt and Whitney division), A.A.R. Corporation, Deutsche Lufthansa AG, John Swire Sons (H.K.) Ltd., TIMCO Aviation Services, Inc., Delta TechOps, Airbus S.A.S.
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