The aircraft maintenance market size has grown strongly in recent years. It will grow from $44.75 billion in 2023 to $47.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed in the historic period can be attributed to factors such as the lifecycle extension of aircraft, a heightened focus on safety measures, the outsourcing of maintenance services, a transition towards predictive maintenance strategies, and the increased prominence of commercial aviation.
The aircraft maintenance market size is expected to see strong growth in the next few years. It will grow to $58.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period is expected to be driven by factors such as fleet expansion, regulatory changes impacting the aviation industry, a shift towards predictive maintenance practices, the increasing presence of low-cost carriers, and prevailing outsourcing trends. Notable trends in the forecast period include the adoption of predictive maintenance methodologies, leveraging advanced technologies in maintenance processes, an emphasis on cost-efficiency strategies, a transition towards digital record-keeping, and the continued outsourcing of maintenance services.
The escalating number of air passengers is anticipated to significantly drive the expansion of the aircraft maintenance market moving forward. The safety of passengers ranks as the paramount concern, prompting continual aircraft maintenance to ensure a secure travel experience. According to the International Air Transport Association (IATA) in March 2022, projections indicate a resurgence in air travel, with an estimated 4.0 billion passengers worldwide by 2024 - a figure that mirrors pre-COVID-19 levels, marking 103% of the 2019 count. The trend reveals a substantial surge in traveler numbers, projecting an increase by 47% in 2021 compared to 2019, followed by an anticipated 83% in 2022, 94% in 2023, 103% in 2024, and 111% in 2025. This surge underscores the driving force behind the aircraft maintenance market, propelled by the escalating volume of air passengers.
The soaring global demand for aircraft is poised to serve as a significant catalyst propelling the aircraft maintenance market's growth trajectory. Aircraft, fundamental in air transportation, necessitate consistent maintenance to ensure operational integrity, customer satisfaction, and compliance with safety regulations. According to Airbus SE data for 2022, there were 1,078 gross orders for commercial aircraft - a significant increase from 771 in 2021. Furthermore, net orders (after cancellations) surged to 820 from 507 in 2021. The robust order book, valued at $449 billion by the end of 2022, along with a consolidated order intake valued at $90.8 billion, reflects a substantial surge in demand. This surge in global aircraft demand significantly fuels the growth of the aircraft maintenance market.
Technological innovation emerges as a pivotal trend shaping the aircraft maintenance landscape, with major industry players concentrating on developing cutting-edge solutions to bolster their market foothold. In November 2022, Cirium, a UK-based data and analytics provider for aviation and travel industries, introduced a groundbreaking innovation - the first phase of satellite-based aircraft maintenance tracking in the aviation sector. This technology revolutionizes the identification of aircraft transitions and informs strategic allocation of maintenance and replacement part budgets by technicians or owners. The Ascend Profiles User Interface (UI) by Cirium offers insights into aircraft intelligence, encompassing features such as 'Ground Events,' enabling comprehensive monitoring of an aircraft's status, maintenance, upgrades, or service, thereby enhancing maintenance strategies for airlines and lessors. This innovation signifies a leap forward in leveraging satellite-based technology for aircraft maintenance tracking, revolutionizing the industry's operational efficiency.
Prominent entities within the aircraft maintenance market are concentrating on introducing cutting-edge solutions, particularly predictive maintenance systems tailored for executive jets, to attain a competitive advantage. These predictive maintenance systems leverage advanced analytics and real-time monitoring to forecast maintenance requirements in advance, ensuring optimal aircraft condition and mitigating unexpected failures. In a significant development in June 2023, Embraer Services & Support, a Brazil-based aerospace corporation, unveiled an enhanced iteration of its Aircraft Health Analysis and Diagnosis (AHEAD) system. This next-generation system offers proactive monitoring capabilities enabling airlines and clients to preemptively identify potential maintenance issues before they escalate or cause critical disruptions. Specifically designed for Embraer’s Executive Jet (E-Jet) fleets, AHEAD amalgamates and scrutinizes data from various systems encompassing engine parameters, pneumatics, hydraulics, landing gear, navigation, and instruments. By discerning anomalies and recognizing patterns indicative of potential issues or system degradation, the system proffers precise timelines for addressing these concerns, enhancing overall maintenance efficacy.
In September 2022, Modern Aviation, a US-based aviation services provider catering to the general aviation community, successfully acquired Elliott Aviation, a diversified aviation services company in the United States. Through this acquisition, Modern Aviation now extends its suite of contemporary aviation services for the first time into the Midwest region, enhancing accessibility for its clientele. Elliott Aviation boasts a diverse portfolio offering avionics, maintenance, parts, paint and interiors, accessories, and Fixed-Base Operator (FBO) services, fortifying Modern Aviation’s comprehensive service provision within the aviation industry. This strategic acquisition enables Modern Aviation to broaden its geographical reach and amplify its offerings in the general aviation sector, benefiting a wider customer base with an expanded spectrum of services.
Major companies operating in the aircraft maintenance market report are General Electric Aerospace, Lufthansa Technik AG , AAR Corp., Delta TechOps, Singapore Technologies Engineering Ltd, Rolls-Royce Limited, MTU Maintenance Hannover GmbH, Hong Kong Aircraft Engineering Co. Ltd., Aviation Technical Services Inc., Boeing Company, Bombardier Inc., British Airways Engineering, PEMCO Insurance, SIA Engineering Company, Safran Aircraft Engines, Pratt & Whitney, Honeywell International, GMF AeroAsia, Airbus SE, Air France KLM Engineering & Maintenance, Raytheon Technologies Corporation, TAP Maintenance & Engineering, Air India Engineering Services Limited, Emirates Engineering, StandardAero, Avia Solutions Group Public Limited Company, Flightstar Aircraft Services, Jet Aviation, Turkish Technic, Mexicana Aerospace.
Asia-Pacific was the largest region in the aircraft maintenance market in 2023. The regions covered in the aircraft maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aircraft maintenance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of aircraft maintenance services include engine overhaul, line maintenance, modifications, and components, including the auxiliary power unit (APU). These services are applicable to both narrow-body and wide-body aircraft. Engine overhaul involves disassembling the existing engine and installing new internal components. Key players in this sector include independent Maintenance, Repair, and Overhaul (MRO) providers, original equipment manufacturers (OEMs), and others. The primary end-users of these services are commercial and military aircraft operators.
The aircraft maintenance market research report is one of a series of new reports that provides aircraft maintenance market statistics, including aircraft maintenance industry global market size, regional shares, competitors with an aircraft maintenance market share, detailed aircraft maintenance market segments, market trends and opportunities and any further data you may need to thrive in the aircraft maintenance industry. This aircraft maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The aircraft maintenance market size is expected to see strong growth in the next few years. It will grow to $58.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period is expected to be driven by factors such as fleet expansion, regulatory changes impacting the aviation industry, a shift towards predictive maintenance practices, the increasing presence of low-cost carriers, and prevailing outsourcing trends. Notable trends in the forecast period include the adoption of predictive maintenance methodologies, leveraging advanced technologies in maintenance processes, an emphasis on cost-efficiency strategies, a transition towards digital record-keeping, and the continued outsourcing of maintenance services.
The escalating number of air passengers is anticipated to significantly drive the expansion of the aircraft maintenance market moving forward. The safety of passengers ranks as the paramount concern, prompting continual aircraft maintenance to ensure a secure travel experience. According to the International Air Transport Association (IATA) in March 2022, projections indicate a resurgence in air travel, with an estimated 4.0 billion passengers worldwide by 2024 - a figure that mirrors pre-COVID-19 levels, marking 103% of the 2019 count. The trend reveals a substantial surge in traveler numbers, projecting an increase by 47% in 2021 compared to 2019, followed by an anticipated 83% in 2022, 94% in 2023, 103% in 2024, and 111% in 2025. This surge underscores the driving force behind the aircraft maintenance market, propelled by the escalating volume of air passengers.
The soaring global demand for aircraft is poised to serve as a significant catalyst propelling the aircraft maintenance market's growth trajectory. Aircraft, fundamental in air transportation, necessitate consistent maintenance to ensure operational integrity, customer satisfaction, and compliance with safety regulations. According to Airbus SE data for 2022, there were 1,078 gross orders for commercial aircraft - a significant increase from 771 in 2021. Furthermore, net orders (after cancellations) surged to 820 from 507 in 2021. The robust order book, valued at $449 billion by the end of 2022, along with a consolidated order intake valued at $90.8 billion, reflects a substantial surge in demand. This surge in global aircraft demand significantly fuels the growth of the aircraft maintenance market.
Technological innovation emerges as a pivotal trend shaping the aircraft maintenance landscape, with major industry players concentrating on developing cutting-edge solutions to bolster their market foothold. In November 2022, Cirium, a UK-based data and analytics provider for aviation and travel industries, introduced a groundbreaking innovation - the first phase of satellite-based aircraft maintenance tracking in the aviation sector. This technology revolutionizes the identification of aircraft transitions and informs strategic allocation of maintenance and replacement part budgets by technicians or owners. The Ascend Profiles User Interface (UI) by Cirium offers insights into aircraft intelligence, encompassing features such as 'Ground Events,' enabling comprehensive monitoring of an aircraft's status, maintenance, upgrades, or service, thereby enhancing maintenance strategies for airlines and lessors. This innovation signifies a leap forward in leveraging satellite-based technology for aircraft maintenance tracking, revolutionizing the industry's operational efficiency.
Prominent entities within the aircraft maintenance market are concentrating on introducing cutting-edge solutions, particularly predictive maintenance systems tailored for executive jets, to attain a competitive advantage. These predictive maintenance systems leverage advanced analytics and real-time monitoring to forecast maintenance requirements in advance, ensuring optimal aircraft condition and mitigating unexpected failures. In a significant development in June 2023, Embraer Services & Support, a Brazil-based aerospace corporation, unveiled an enhanced iteration of its Aircraft Health Analysis and Diagnosis (AHEAD) system. This next-generation system offers proactive monitoring capabilities enabling airlines and clients to preemptively identify potential maintenance issues before they escalate or cause critical disruptions. Specifically designed for Embraer’s Executive Jet (E-Jet) fleets, AHEAD amalgamates and scrutinizes data from various systems encompassing engine parameters, pneumatics, hydraulics, landing gear, navigation, and instruments. By discerning anomalies and recognizing patterns indicative of potential issues or system degradation, the system proffers precise timelines for addressing these concerns, enhancing overall maintenance efficacy.
In September 2022, Modern Aviation, a US-based aviation services provider catering to the general aviation community, successfully acquired Elliott Aviation, a diversified aviation services company in the United States. Through this acquisition, Modern Aviation now extends its suite of contemporary aviation services for the first time into the Midwest region, enhancing accessibility for its clientele. Elliott Aviation boasts a diverse portfolio offering avionics, maintenance, parts, paint and interiors, accessories, and Fixed-Base Operator (FBO) services, fortifying Modern Aviation’s comprehensive service provision within the aviation industry. This strategic acquisition enables Modern Aviation to broaden its geographical reach and amplify its offerings in the general aviation sector, benefiting a wider customer base with an expanded spectrum of services.
Major companies operating in the aircraft maintenance market report are General Electric Aerospace, Lufthansa Technik AG , AAR Corp., Delta TechOps, Singapore Technologies Engineering Ltd, Rolls-Royce Limited, MTU Maintenance Hannover GmbH, Hong Kong Aircraft Engineering Co. Ltd., Aviation Technical Services Inc., Boeing Company, Bombardier Inc., British Airways Engineering, PEMCO Insurance, SIA Engineering Company, Safran Aircraft Engines, Pratt & Whitney, Honeywell International, GMF AeroAsia, Airbus SE, Air France KLM Engineering & Maintenance, Raytheon Technologies Corporation, TAP Maintenance & Engineering, Air India Engineering Services Limited, Emirates Engineering, StandardAero, Avia Solutions Group Public Limited Company, Flightstar Aircraft Services, Jet Aviation, Turkish Technic, Mexicana Aerospace.
Asia-Pacific was the largest region in the aircraft maintenance market in 2023. The regions covered in the aircraft maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aircraft maintenance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of aircraft maintenance services include engine overhaul, line maintenance, modifications, and components, including the auxiliary power unit (APU). These services are applicable to both narrow-body and wide-body aircraft. Engine overhaul involves disassembling the existing engine and installing new internal components. Key players in this sector include independent Maintenance, Repair, and Overhaul (MRO) providers, original equipment manufacturers (OEMs), and others. The primary end-users of these services are commercial and military aircraft operators.
The aircraft maintenance market research report is one of a series of new reports that provides aircraft maintenance market statistics, including aircraft maintenance industry global market size, regional shares, competitors with an aircraft maintenance market share, detailed aircraft maintenance market segments, market trends and opportunities and any further data you may need to thrive in the aircraft maintenance industry. This aircraft maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Aircraft Maintenance Market Characteristics3. Aircraft Maintenance Market Trends and Strategies31. Global Aircraft Maintenance Market Competitive Benchmarking32. Global Aircraft Maintenance Market Competitive Dashboard33. Key Mergers and Acquisitions in the Aircraft Maintenance Market
4. Aircraft Maintenance Market - Macro Economic Scenario
5. Global Aircraft Maintenance Market Size and Growth
6. Aircraft Maintenance Market Segmentation
7. Aircraft Maintenance Market Regional and Country Analysis
8. Asia-Pacific Aircraft Maintenance Market
9. China Aircraft Maintenance Market
10. India Aircraft Maintenance Market
11. Japan Aircraft Maintenance Market
12. Australia Aircraft Maintenance Market
13. Indonesia Aircraft Maintenance Market
14. South Korea Aircraft Maintenance Market
15. Western Europe Aircraft Maintenance Market
16. UK Aircraft Maintenance Market
17. Germany Aircraft Maintenance Market
18. France Aircraft Maintenance Market
19. Italy Aircraft Maintenance Market
20. Spain Aircraft Maintenance Market
21. Eastern Europe Aircraft Maintenance Market
22. Russia Aircraft Maintenance Market
23. North America Aircraft Maintenance Market
24. USA Aircraft Maintenance Market
25. Canada Aircraft Maintenance Market
26. South America Aircraft Maintenance Market
27. Brazil Aircraft Maintenance Market
28. Middle East Aircraft Maintenance Market
29. Africa Aircraft Maintenance Market
30. Aircraft Maintenance Market Competitive Landscape and Company Profiles
34. Aircraft Maintenance Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Aircraft Maintenance Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on aircraft maintenance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for aircraft maintenance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:1) By Service Type: Engine Overhaul; Line Maintenance; Modification; Components; APU
2) By Aircraft Type: Narrow-Body; Wide-Body
3) By Organization Type: Independent MRO; Original Equipment Manufacture MRO; Other Organization Types
4) By End-User: Commercial Aircraft; Military Aircraft
Companies Mentioned: General Electric Aerospace; Lufthansa Technik AG ; AAR Corp.; Delta TechOps; Singapore Technologies Engineering Ltd
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- General Electric Aerospace
- Lufthansa Technik AG
- AAR Corp.
- Delta TechOps
- Singapore Technologies Engineering Ltd
- Rolls-Royce Limited
- MTU Maintenance Hannover GmbH
- Hong Kong Aircraft Engineering Co. Ltd.
- Aviation Technical Services Inc.
- Boeing Company
- Bombardier Inc.
- British Airways Engineering
- PEMCO Insurance
- SIA Engineering Company
- Safran Aircraft Engines
- Pratt & Whitney
- Honeywell International
- GMF AeroAsia
- Airbus SE
- Air France KLM Engineering & Maintenance
- Raytheon Technologies Corporation
- TAP Maintenance & Engineering
- Air India Engineering Services Limited
- Emirates Engineering
- StandardAero
- Avia Solutions Group Public Limited Company
- Flightstar Aircraft Services
- Jet Aviation
- Turkish Technic
- Mexicana Aerospace
Methodology
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