How Are the Market Size and Growth Forecasts Shaping Up for The Global Aircraft Maintenance Market?
The aircraft maintenance market size, which has shown strong growth in recent years, is projected to escalate from $46.13 billion in 2024 to $48.46 billion in 2025, marking a compound annual growth rate (CAGR) of 5.1%. This growth in the historic period can be attributed to factors such as lifecycle extension of aircraft, emphasis on safety, outsourcing maintenance services, shift to predictive maintenance, and rise of commercial aviation.
In the future, the aircraft maintenance market is expected to continue its robust growth. Predicted to reach $59.43 billion in 2029 with a CAGR of 5.2%, this growth might result from fleet expansion, regulatory changes, transition to predictive maintenance, rise of low-cost carriers, and outsourcing trends. Key trends predicted for this period include the adoption of predictive maintenance, the use of advanced technologies, a focus on cost-efficiency, the transition to digital records, and the outsourcing of maintenance services.
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What Is Driving The Growth of the Aircraft Maintenance Market?
The increase in the number of air passengers is expected to turbocharge the growth of the aircraft maintenance market. A surge in the number of people and businesses involved in the transportation of people by aircraft in interstate commerce is witnessed. The safety of every passenger is the first priority of any aircraft owner, and ongoing aircraft maintenance is crucial to it. For example, during the first three months of 2024, there was an 11.5% rise in the number of air passengers carried across the EU, reaching 198 million travellers, reported by Eurostat, a European Union statistical agency. Consequently, this increasing number of air passengers is driving the growth of the aircraft maintenance market.
Which Are the Dominant Segments in the Aircraft Maintenance Market?
1) By Service Type: Engine Overhaul, Line Maintenance, Modification, Components, APU
2) By Aircraft Type: Narrow-Body, Wide-Body
3) By Organization Type: Independent MRO, Original Equipment Manufacture MRO, Other Organization Types
4) By End-User: Commercial Aircraft, Military Aircraft
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Which Major Players Are Leading the Aircraft Maintenance Market?
Major companies operating in the aircraft maintenance market include General Electric Aerospace, Lufthansa Technik AG, AAR Corp., Delta TechOps, Singapore Technologies Engineering Ltd, Rolls-Royce Limited, MTU Maintenance Hannover GmbH, Hong Kong Aircraft Engineering Co. Ltd., Aviation Technical Services Inc., Boeing Company, Bombardier Inc., British Airways Engineering, SIA Engineering Company, Safran Aircraft Engines, Pratt & Whitney, Honeywell International, GMF AeroAsia, Airbus SE, Air France KLM Engineering & Maintenance, Raytheon Technologies Corporation, TAP Maintenance & Engineering, Air India Engineering Services Limited, Emirates Engineering, StandardAero, Avia Solutions Group Public Limited Company, Flightstar Aircraft Services, Jet Aviation, Turkish Technic, Mexicana Aerospace.
What Trends Are Redefining the Aircraft Maintenance Market?
Technological innovation is emerging as the leading trend in the aircraft maintenance market. Companies like Cirium, a UK-based company serving the aviation and travel industries with data and analytics, are launching innovative measures like the satellite-based aircraft maintenance tracking feature. This technology aids in identifying aircraft transitions and developing strategies for the allocation of maintenance and spare parts budgets. Monitoring each ground event for a particular aircraft allows developers to gain insights into whether the aircraft had its cabins upgraded, added branding, is under maintenance, or has been reinstated to service.
Which Region Is Predominantly Accelerating the Aircraft Maintenance Market Growth?
Asia-Pacific was the largest region in the aircraft maintenance market in 2024. The aircraft maintenance market report covers this region along with Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Aircraft Maintenance Market Report 2025 Offer?
Aircraft maintenance refers to the tasks needed for the upkeep, overhaul, repair, or modification of an aircraft or an aircraft component. These tasks are carried out at a facility equipped with necessary personnel, equipment, and the ability to quickly source required parts for the facility’s operator. The Aircraft Maintenance Market research report from The Business Research Company presents global market size, regional shares, competitor analysis, detailed segments, trends and opportunities.
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