Frost & Sullivan has revealed that the maintenance, repair and overhaul (MRO) market experienced substantial growth in line with global fleet expansion and identified 17 industry leaders excelling at innovation.
As the market worth $75 billion continues to increase for aircraft maintenance, MROs are adjusting capacity to meet the surging demand through the adoption of digital transformation, technology innovation, and unrivaled efficiencies as well as mergers, consolidations, buy-outs and alliances. Airlines are spinning their maintenance divisions off into separate MRO entities to produce fresh revenue streams as OEMs jockey for additional market share.
The recently released Commercial Aircraft Maintenance, Repair, and Overhaul Market Frost Radar provides results from an in-depth analysis built on a 360-degree research methodology where over 100 companies in the MRO industry were evaluated. The team of industry analysts identified 17 industry leaders excelling at innovation, poised for growth and ripe for investment and recognises them in the Frost Radar with insight into their innovative offerings, projected growth rates, strengths and opportunities for the future.
The following companies were identified for demonstrated excellence in either growth, innovation, or both, with the ability to translate these qualities into proven solutions that benefit their clients:
AFI KLM E&M
Aviation Technical Services
Etihad Airways Engineering
Evergreen Aviation Technologies Corp. (EGAT)