“airlines now spend more on maintenance than on fuel or crew”
The global aircraft MRO market size was valued at USD 78.60 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.02% from 2023 to 2030.
The engine segment in aircraft MRO is expected to dominate the market throughout the forecasted period and expected to grow with a leading market share of above 41.0% in 2022. The component segment for the aircraft MRO is expected to grow significantly with a CAGR of 4.9% from 2023 to 2030.
The increasing demand for air travel augments aircraft frequency resulting in growth for the aircraft maintenance, including components and spare parts The narrow body aircraft in the commercial aircraft MRO market is anticipated to generate USD 58.77 billion in revenue in 2030.
From airframe, modifications, component and engine MRO all segments are predicting growth in coming years yet this growth is not without its headwinds.
Supply chain issues both parts and labour, hangar availability, obsolescence, raw materials availability and the ever present pressure for all parts of the aviation ecosystem to play a part in contributing to sustainable aviation mean growth comes with challenges.
Simultaneously, OEMs, MROs, and suppliers are responding with a range of innovative technologies and techniques, including robots, drones, virtual / augmented / mixed reality aids, machine learning / neural networks / artificial intelligence, blockchain, 3D printing, additive manufacturing, and more.
For the UK MRO sector, securing its competitive advantage and preparing for a sustainable aviation future are crucial and this roundtable will begin to explore these challenges and how we can and should respond now.
Contact Keith Grandison by emailing: Keith.Grandison@adsgroup.org.uk or calling: M. +44 (0)7841 361 552 - D. +44 (0)131 343 8931