Aircraft MRO Market Size, Share, Growth Analysis, By Service Type(Engine Overhaul, Airframe Maintenance, Line Maintenance, Modification), By Organization Type(Airline/Operator MRO, Independent MRO, Original Equipment Manufacturer (OEM) MRO), By Aircraft Type(Narrow-body, Wide-body, Regional Jet, Others), By Aircraft Generation(Old Generation, Mid Generation, New Generation), By Region - Industry Forecast 2024-2031

Aircraft MRO Market size was valued at USD 74.84 billion in 2019 and is poised to grow from USD 78.6 billion in 2023 to USD 122.14 billion by 2031, growing at a CAGR of 5.02% in the forecast period (2024-2031).

The aviation MRO market is prevalent worldwide since practically every country has airports, and airplanes can require maintenance, repair, and operating help anywhere and at any time. Because demand is driven by need, the market is highly fragmented, with competitors providing varying levels of service. As technology advances at a quick pace, the number of new participants in the airplane MRO market is rapidly increasing. The established companies in this sector have been able to tighten their grip on the industry by expanding operations around the world. 'Airbus SE', 'Boeing Company', 'General Electric Company (GE Aviation)', 'Lufthansa Technik AG', 'Singapore Technologies Engineering Ltd. (ST Engineering)', 'Air France-KLM SA (AFI KLM E&M)', 'United Technologies Corporation (UTC Aerospace Systems and Pratt & Whitney)', 'Delta Air Lines Inc. (Delta TechOps)', 'Honeywell International Inc.', 'Rolls-Royce Holdings plc', 'Air Canada Technical Services (ACTS)', 'Turkish Technic Inc.', 'MTU Aero Engines AG', 'SR Technics Switzerland AG', 'HAECO Group', 'China National Aviation Corporation (Group) Ltd. (CNAF)', 'Bombardier Inc. (Lufthansa Bombardier Aviation Services)', 'SIA Engineering Company Ltd. (SIAEC)', 'AAR Corp.', 'Textron Inc. (Textron Aviation Service)'

Rising investments in aviation MRO software is expected to create new growth prospects for the Aircraft MRO market. Aircraft MRO software contains software components for maintenance monitoring, maintenance scheduling, logbook tracking, budget forecasting, manuals, flying time tracking, electronic task card management, service bulletin management, and work order administration. 

The narrow-body aircrafts are smaller airplanes suitable for short-distance cross-border and domestic flights. Because of its small size narrow-body aircraft may carry over 295 passengers over a short distance route.

Asia Pacific accounted for the largest market share in 2022 and is predicted to remain the dominant region with the fastest CAGR over the forecast period. The Asia Pacific region operates one-third of all aircraft, and this figure is likely to rise throughout the forecast period. Because of innovative and widely available MRO alternatives, airlines in this industry can extend the life of their air fleets. MRO providers frequently target the Asia Pacific market because it provides them with additional clients, attractive investment options, and lower labor costs.