Dublin : The global aviation MRO market is projected to reach USD 87.43 billion by 2030, at a CAGR of 3.9 per cent during the forecast period of 2023-2030.
The growth of the aviation MRO market is driven by the rising investments in aircraft MRO, the growth in air travel, and increasing government focus on the aviation sector.
In 2023, the engine overhaul segment is expected to account for the largest share of the global aviation MRO market.
This segment is also projected to register the highest CAGR during the forecast period.
In 2023, the fixed-wing aircraft segment is expected to account for the largest share of the global aviation MRO market.
In 2023, Asia-Pacific is expected to account for the largest share of the global aviation MRO market, followed by North America, Europe, Latin America, and the Middle East and Africa.
The region has experienced significant growth in the aircraft fleet over the past decade, which has increased the demand for engine MRO services and is expected to lead the market during the forecast period. This has resulted in several MRO service providers from the US and Europe establishing their maintenance facilities in this region.
Also, several airlines have partnered with engine MRO service providers to develop in-house capabilities and reduce overseas maintenance costs. Such developments are driving the growth of the aviation MRO market in Asia-Pacific.