Commercial Aircraft MRO Market 2020 Historical Growth, Opportunities and Forecast To 2026

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Commercial Aircraft MRO Market 2020 by Industry
Analysis, Segments and Forecast To 2026
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Key Insights Commercial Aircraft MRO Market

• The global commercial aircraft MRO market is
  anticipated to grow at a commendable pace, on
  account of the rising number of air passengers
  and increasing production as well as deliveries
  of aircrafts. The development of low-cost
  carriers has enabled increased affordability,
  leading to rising sales of inexpensive flight
  tickets for various routes across the globe.
  Moreover, various regulatory authorities are also
  focusing on introducing strict reforms regarding
  the aircrafts suitability for a safe flight.
  This factor along with growing demand for low
  maintenance aircrafts for long duration flights
  and rising capita per income are driving the
  market growth.
• According to estimates, the commercial aircraft
  MRO market is presumed to surpass USD 121.5
  billion by the year 2026.
• As per MRO service type, the components segment
  is expected to hold 20 share in the overall
  commercial aircraft MRO market by the year 2026.
  Rising adoption of components such as
  electricals, landing gear, fuel systems and
  wheels brakes has increased the frequency of
  component wear and tear which in turn may
  negatively impact the aircraft performance. In
  order to avoid the same, component manufacturers
  are providing long term service packages to
  consumers in order to ensure efficient and
  effective servicing without any delays, which is
  likely to bolster the segmental growth.

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Continued

• According to estimates, the independent service
  provider segment is presumed to hold 60 share by
  the year 2026. These type of service providers
  not only offer business flexibility but also
  provide with varied overhaul service, repair and
  maintenance alternatives. Adding to this,
  independent service providers offer superior
  machinery, equipment and tools as well as high
  skilled technicians, thereby aiding the business
  scenario.
• In terms of aircraft type, the regional jets
  segment will witness a growth rate of 4.8 during
  the period of 2020-2026. This type of aircraft is
  ideal for connecting carrier hubs and airports.
  Furthermore, various aircraft manufacturers are
  focusing on RD activities in order to develop
  lightweight materials and advanced technologies,
  which in turn is contributing towards popularity
  of regional jets across the globe.

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Major Companies In Commercial Aircraft MRO Market

• The prominent companies operating in the
  commercial aircraft MRO market are ST Aerospace,
  United Technologies Corp., GE Aviation and AAR
  Corp. These market majors are conducting various
  business strategies such as mergers and
  acquisitions in order to expand their operations
  as well as to gain a competitive edge in the
  overall industry. In January 2019 for instance,
  Dassault Aviation joined forces with ExecuJet MRO
  operations in order to strengthen its position in
  Middle Eastern and Asia-Pacific regions.

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Regional Commercial Aircraft MRO Market

• In terms of aircraft type, the regional jets
  segment will witness a growth rate of 4.8 during
  the period of 2020-2026. This type of aircraft is
  ideal for connecting carrier hubs and airports.
  Furthermore, various aircraft manufacturers are
  focusing on RD activities in order to develop
  lightweight materials and advanced technologies,
  which in turn is contributing towards popularity
  of regional jets across the globe.
• Elaborating on the geographical landscape, North
  America is poised to acquire more than a quarter
  of the market share during the study period.
  There has been an upsurge in backlogs for demand
  and supply of aircrafts. Adding to this,
  increasing production of aircrafts and booming
  tourism industry are favoring the commercial
  aircraft MRO market outlook in North America.

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