Global Aviation MRO Logistics Market Research Report: Information By End User (Civil Aviation, Military Aviation, and Business Aviation), And By Region (North America, Europe, Asia-Pacific, and Rest Of The World) –Market Forecast Till 2032.
Global Aviation MRO Logistics Market Research Report: Information By End User (Civil Aviation, Military Aviation, and Business Aviation), And By Region (North America, Europe, Asia-Pacific, and Rest Of The World) –Market Forecast Till 2032.
Due to the growing economy and increasing urbanization of emerging countries, travel for both business and pleasure has grown, are the key market drivers enhancing the market growth.
Rise in investments in aircraft MRO software development is driving the market growth
Additionally, it is projected that rising costs for aircraft MRO (maintenance, repair, and overhaul) software would provide new business prospects. The parts of aviation MRO software that handle maintenance tracking, logbook tracking, flying time monitoring, service bulletin administration, maintenance scheduling, budget forecasting, electronic task card management, and work order management. For instance, in May 2021, a number of businesses, including the maintenance, repair, and overhaul of airplanes, received significant foreign direct investments in India. As a result, it is expected that investments and acquisitions will create lucrative market opportunities.
Among other rules, the market is impacted by those of the Federal Aviation Administration (FAA) and International Civil Aviation Organization (ICAO). Additionally, the sector is moving forward due to the rising demand for older aircraft and environmental concerns that highlight the necessity of continued maintenance and repair of the older aircraft. The global COVID-19 epidemic and the resulting suspension of travel and tourism as a result of the extreme lookdowns put in place by the governments to limit the spread also hurt the airline industry's revenue and profit margins.
More airlines opted to MRO as their operations halted in order to maintain an effective fleet. In order to encourage airports to accept MRO as a strategic undertaking, a wide range of government initiatives have been developed. Governments are currently pursuing a number of comprehensive plans to ensure that there is enough space for MRO at various airports around the country, which could expand aircraft MRO activity over the envisioned period.
The MRO industry has had to deal with problems such a labor supply shortage, rising labor prices, a lack of experienced staff, and dwindling enthusiasm among newly minted engineers in technical maintenance positions. This is expected to have an effect on the aircraft maintenance, repair, and overhaul (MRO) market during the projected period. The two approaches that are more applicable to MRO service providers for MRO operators are right-sourcing and outsourcing.
Rising material costs are having a substantial impact on the expansion. MRO service providers are attempting to establish strategic alliances with OEMs as a result in order to get support with the acquisition of aircraft parts and components. For instance, to develop a range of MRO capabilities, the Singapore-based SIA Engineering Company (SIAEC) disclosed in November 2021 that it had established 23 joint ventures and subsidiaries with OEMs such as Pratt & Whitney, Collins, Jamco, Rolls-Royce, GE, and Safran across seven countries. Thus, driving the Aviation MRO Logistics market revenue.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Aviation MRO Logistics market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Aviation MRO Logistics sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Aviation MRO Logistics sector. Major players in the Aviation MRO Logistics market, including CMA CGM S.A., Deutsche Bahn AG, Deutsche Post AG, DSV Panalpina A/S, Expeditors International of Washington Inc., Fedex Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., SEKO Logistics, and United Parcel Service Inc., are attempting to increase market demand by investing in research and development operations.
A Singapore Airlines Ltd. company known as SIA Engineering Co. Ltd. (SIAEC) provides maintenance, repair, and overhaul services for aircraft. Airframe repair and overhaul, line maintenance and technical handling, component maintenance and overhaul, fleet management program, engine overhaul, passenger to freighter conversion, cabin modifications, training academy, and aircraft painting are among the services offered by the company. Engineering or technical-related services, quality-related services, publishing management, and planning are all included in its fleet management services. For the fleet of Airbus and Boeing aircraft, the company provides component overhaul and repair services. In addition to other countries, it operates in Australia, the US, Hong Kong, Indonesia, the Philippines, and Vietnam. Singapore's Singapore City is home to the SIAEC's headquarters. To support modern aviation engine servicing, repairs, wing testing, and other activities, SIA Engineering Company Ltd. invested in a new subsidiary in February 2021 dubbed the Engine Services subsidiary.
A company that offers passenger and cargo air transportation services is Korean Air Lines Co Ltd (Korean Air). It offers services like in-flight dining, in-flight entertainment, hotel management, in-flight shopping, car rental, and limousines. The business is involved in designing, producing, and maintaining manned aerial vehicles and aircraft. Airbus 380-800, Airbus 330-200/300, Airbus 220-300, Boeing 747-400, Boeing 747-8i, Boeing 747-8F, Boeing 777-200 ER/300 ER/300, Boeing 777F, Boeing 787-9, and Boeing 737-800/900ER/900 are among the company's fleet of aircraft. It connects a number of locations in the domestic and global markets. The business belongs to the SkyTeam airline alliance. Seoul, South Korea serves as the home base for Korean Air. Korean Air showcased its technological advances in December 2021 by doing a full-body airplane check with only four drones employing drone swarms.
February 2022 - The new logistics features Fusion Cloud SCM, Fusion Cloud Transportation Management, and Fusion Cloud Global Trade Management that Oracle Corporation has added to its software platforms will help with cost savings, risk mitigation, resource planning, improved customer experiences, and agile business operations.
December 2021 - Jet Support Services Inc. (SSI) has announced the purchase of TRAXXALL, a provider of Software-as-a-Service (SaaS) solutions for inventory management and aviation maintenance monitoring. As a result of this acquisition, SierraTrax will significantly increase JSSI's SaaS division.
Aviation MRO Logistics Market Segmentation Analysis
Aviation MRO Logistics End User Outlook
Aviation MRO Logistics End User Insights
The global Aviation MRO Logistics market segmentation, based on End User includes civil aviation, military aviation, and business aviation. The civil aviation sector is predicted to dominate the market during the projection period. OEMs' continual outsourcing of their ancillary duties to specialized ESPs and MRO service providers supports the market's ongoing expansion. For instance, a complete distribution agreement was reached in March 2022 between Collins Aerospace's Goodrich De-icing and specialized heating System company and ARR, a leading provider of MRO services for the aviation sector. Under the terms of the arrangement, MROs and other aircraft from all around the world will have access to the de-icers and heating systems.
Aviation MRO Logistics Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. With the aid of cutting-edge technologies, the North American aircraft MRO industry holds a 45.80% share of the global aviation MRO logistics market. North America has the largest fleet of aircraft, which generates a significant need for aviation MROs. Market entrants from this region have exceptionally difficult challenges because of regulation, adherence to stringent standards, and tight safety criteria. However, the market is tempting since MROs can use cutting-edge technology so quickly. Further, In the North American area, the U.S. Aviation MRO Logistics market had the biggest market share, while the Canada Aviation MRO Logistics market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The size of the European market is expected to grow moderately as a result of an increase in passenger air traffic. The existence of well-known OEMs and major players like Lufthansa Technik and Swiss Aviation Software has a big impact on the market's growth. MRO companies like Cromwell Group (Holdings) Ltd., Graco Inc., WABCO, Mento AS, Valeo Service U.K. Ltd., and other important MRO players enable maintenance software installations. businesses that provide software for aviation maintenance are engaging into agreements and contracts with significant maintenance businesses. By maximizing the MRO facilities, this enables MRO software vendors to deliver affordable and effective logistical services. Further, In the European region, the German Aviation MRO Logistics market had the biggest market share, and the U.K. Aviation MRO Logistics market had the quickest rate of growth.
The region with the highest CAGR in 2022 is expected to continue to do so over the entire forecast period. Asia Pacific currently hosts one-third of the world's operating aircraft fleet, and this percentage is expected to increase over the course of the forecast period. Airlines are able to prolong the life of their aircraft fleets thanks to the advanced and affordable MRO solutions available in this industry. Since the Asia Pacific region offers them more customers, interesting business opportunities, and cheaper labor, MRO providers usually concentrate on this market. Further, In the Asia-Pacific region, the Indian Aviation MRO Logistics market had the quickest rate of growth while China's Aviation MRO Logistics market had the greatest market share.
Key Questions
Aviation MRO Logistics Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
Frequently Asked Questions
• The global Aviation MRO Logistics market size was valued at USD 2.9 Billion in 2022.
• The global market is projected to grow at a CAGR of 18.45% during the forecast period, 2023-2032.
• North America had the largest share in the global market
• The key players in the market are CMA CGM S.A., Deutsche Bahn AG, Deutsche Post AG, DSV Panalpina A/S, Expeditors International of Washington Inc., Fedex Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., SEKO Logistics, and United Parcel Service Inc.
• The Civil Aviation End User dominated the market in 2022.
Want to Review Complete Market Research Report
Customize this Report
Related Reports
Aerospace Accumulator Market Size, Trends, Growth, Report 2032
January, 2024Aircraft Antenna Market Growth Forecast, Global Industry Outlook to 2032
January, 2024Air Defense System Market Size, Trends, Growth, Report 2032)
January, 2024