The North America airframe MRO market was valued at US$ 6.31 billion in 2022 and is expected to reach US$ 8.42 billion by 2030; it is estimated to register at a CAGR of 3.7% from 2022 to 2030.
The adoption of blockchain technology has been low so far; however, this technology is expected to play a major role in the overall growth of the North America airframe MRO market in the coming years. With the integration of blockchain technology, companies can record the configuration details of MRO components. This also makes the documentation process across component manufacturers and MRO service providers effortless. Additionally, the deployment of this technology enables MRO service providers to offer verifiable documentation about the parts they have installed, thereby maintaining transparency in their operations. A few instances of various North America airframe MRO market players opting for blockchain technology are given below.
In October 2023, Lufthansa Industry Solutions announced the initiative for the adoption of Blockchain for increasing the adoption of blockchain in the aviation industry.
In February 2020, Safran S.A., an aerospace manufacturer; SITA, a technology company; and the Sky Republic, a blockchain platform provider company, declared plans to create the MRO Blockchain Alliance. In March 2021, the Government Blockchain Association and the Digital Innovation Group formed a joint venture named GBA Aviation & Aerospace Working Group. This joint venture is formed to explore the use of blockchain in the aerospace and aviation sectors for MRO services, supply chains, and airports.
In addition, aviation industry players such as aircraft manufacturers, airframe MRO service providers, and aviation technology developers are highly emphasizing adopting blockchain technology with the objective of tracking their MRO processes. Thus, the adoption of blockchain technology is changing the MRO landscape, which is anticipated to fuel the North America airframe MRO market growth in the coming years.
The North America aviation industry is likely to continue generating relatively higher profits from the US owing to the continuity of air travel. Because of the existence of many aircraft OEMs in the US, the country is the world's largest aircraft manufacturer. With the launch and purchase of new aircraft, several maintenance contracts and agreements are routinely signed between airframe MRO service providers and airlines, defense agencies, and others. Thus, the aforementioned factors are propelling the demand for airframe MRO services in North America.
Based on aircraft type, the North America 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 North America 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 North America airframe MRO market is categorized into the US, Canada, and Mexico. The US dominated the North America airframe MRO market in 2022.
AAR CORP; Barnes Group Inc; GE Aviation; FLTechnics, UAB.; 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 North America airframe MRO market.
Blockchain Technology Changing MRO Landscape Fuels North America Airframe MRO Market
MRO services in the aviation industry play a key role in assuring the durability, safety, and profitability of commercial airlines and military forces. To maintain their market position in the future, businesses should adopt flexibility toward adapting new and trending technologies, which can help digitalize their business processes, thereby reducing the dependency on manual labor/employees. Advanced technologies such as blockchain improve processes in MRO organizations.The adoption of blockchain technology has been low so far; however, this technology is expected to play a major role in the overall growth of the North America airframe MRO market in the coming years. With the integration of blockchain technology, companies can record the configuration details of MRO components. This also makes the documentation process across component manufacturers and MRO service providers effortless. Additionally, the deployment of this technology enables MRO service providers to offer verifiable documentation about the parts they have installed, thereby maintaining transparency in their operations. A few instances of various North America airframe MRO market players opting for blockchain technology are given below.
In October 2023, Lufthansa Industry Solutions announced the initiative for the adoption of Blockchain for increasing the adoption of blockchain in the aviation industry.
In February 2020, Safran S.A., an aerospace manufacturer; SITA, a technology company; and the Sky Republic, a blockchain platform provider company, declared plans to create the MRO Blockchain Alliance. In March 2021, the Government Blockchain Association and the Digital Innovation Group formed a joint venture named GBA Aviation & Aerospace Working Group. This joint venture is formed to explore the use of blockchain in the aerospace and aviation sectors for MRO services, supply chains, and airports.
In addition, aviation industry players such as aircraft manufacturers, airframe MRO service providers, and aviation technology developers are highly emphasizing adopting blockchain technology with the objective of tracking their MRO processes. Thus, the adoption of blockchain technology is changing the MRO landscape, which is anticipated to fuel the North America airframe MRO market growth in the coming years.
North America airframe MRO market Overview
Maintenance, repair, and overhaul (MRO) is a complex process in the aviation industry that has stringent and specific criteria specified by airworthiness authorities to decide whether an aircraft is airworthy. Airlines spend massive amounts every year to meet such specifications, which account for a significant portion of their overall operating costs. The airframe MRO market in North America is expected to be driven by a rise in air passenger traffic; the need to improve operability and performance; and the need for disassembling, replacing, testing, and repairing many sections of aircraft.The North America aviation industry is likely to continue generating relatively higher profits from the US owing to the continuity of air travel. Because of the existence of many aircraft OEMs in the US, the country is the world's largest aircraft manufacturer. With the launch and purchase of new aircraft, several maintenance contracts and agreements are routinely signed between airframe MRO service providers and airlines, defense agencies, and others. Thus, the aforementioned factors are propelling the demand for airframe MRO services in North America.
North America Airframe MRO Market Revenue and Forecast to 2030 (US$ Million)
North America Airframe MRO Market Segmentation
The North America airframe MRO market is segmented based on aircraft type, component, and country.Based on aircraft type, the North America 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 North America 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 North America airframe MRO market is categorized into the US, Canada, and Mexico. The US dominated the North America airframe MRO market in 2022.
AAR CORP; Barnes Group Inc; GE Aviation; FLTechnics, UAB.; 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 North America airframe MRO market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America airframe MRO market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in North America airframe MRO market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- 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
2. Executive Summary
3. Research Methodology
4. North America Airframe MRO Market Landscape
5. North America Airframe MRO Market - Key Industry Dynamics
6. Airframe MRO Market - North America Market Analysis
7. North America Airframe MRO Market Analysis - Aircraft Type
8. North America Airframe MRO Market Analysis - Component
9. North America Airframe MRO Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- AAR CORP
- Barnes Group Inc
- GE Aviation
- FLTechnics, UAB.
- Turkish Technic Inc.
- Singapore Technologies Engineering Ltd
- Lufthansa Technik
- Delta TechOps
- Rolls-Royce Holdings Plc
- Collins Aerospace
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 80 |
Published | June 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 6316.44 Million |
Forecasted Market Value ( USD | $ 8428.64 Million |
Compound Annual Growth Rate | 3.7% |
Regions Covered | North America |
No. of Companies Mentioned | 10 |