Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market Report 2024-2034 - Skilled Labour Shortage in the Aviation Industry May Hinder Market Growth

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Feb 12, 2024, 13:45 ET

DUBLIN, Feb. 12, 2024 /PRNewswire/ -- The "Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.

World revenue for Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market is predicted to surpass US$81.9 billion in 2024.

In the aviation industry, safety and reliability are non-negotiable priorities, driving significant investments in maintenance, repair, and overhaul (MRO) services. Ensuring the airworthiness of aircraft is critical to maintaining safe operations. Routine maintenance checks and overhauls play a pivotal role in identifying and rectifying potential issues before they compromise the integrity of an aircraft.

The COVID-19 pandemic has further accentuated the industry's focus on reliability, emphasizing the need for aircraft to be ready for service even during unprecedented disruptions. Preventive maintenance has become a cornerstone of MRO strategies, ensuring that aircraft remain in optimal condition and ready to meet operational demands.

Skilled Labour Shortage in the Aviation Industry Hinder the Market Growth

The aviation industry is currently grappling with a substantial impediment to its growth trajectory; a shortage of skilled technicians, engineers, and mechanics. This challenge has emerged as a significant bottleneck as the demand for aircraft maintenance technicians continues to surge. Bridging the gap between the industry's capabilities and the opportunities presented by this demand is becoming increasingly crucial.

This challenge encompasses multifaceted aspects such as recruitment, training, retention, and equitable compensation for the skilled workforce, including technicians and mechanics. These professionals play a pivotal role in translating aviation aspirations into tangible achievements, ensuring the safety and operational efficiency of aircraft. Industry experts are meticulously analyzing data projections, conducting in-depth industry analyses, monitoring shifts in educational paradigms, and formulating strategic workforce management approaches to navigate this intricate issue.

Key Market Dynamics

Market Driving Factors

The Increasing Global Demand for Air Travel Continues to Drive the Need for Efficient MRO Services
The Persistent Threat of Air Accidents and the Imperative of MRO Services
Evolving Technologies in Aircraft Design and Avionics Necessitate Specialized MRO Services

Market Restraining Factors

Skilled Labour Shortage in the Aviation Industry Hinder the Market Growth
Airlines Opting for In-House MRO Services Hinder the Market Growth
Adhering to Complex and Evolving Aviation Regulations

Market Opportunities

The Escalating Trend of Outsourcing MRO Services is Creating a Notable Opportunity for Specialized Providers
The Upsurge in E-Commerce has Generated Heightened Demand for Air Cargo Services
The Trend of Outsourcing MRO Services is Often Driven by Cost-Effectiveness for Airlines

Segments Covered in the Report

Market Segment by Aircraft Type

Narrow-Body Aircraft
Wide-Body Aircraft
Regional Aircraft

Market Segment by Maintenance Type

Scheduled Maintenance
Unscheduled Maintenance
Preventive Maintenance
Predictive Maintenance

Market Segment by Service Type

Engine Overhaul
Airframe Maintenance
Component Maintenance
Line Maintenance
Modification and Upgradation

Market Segment by Component Type

Engine Components
Landing Gear Components
Avionics Components
Aircraft Interior Components
APU components
Other Component Type

Forecasts to 2034 and other analyses reveal commercial prospects

In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising commercial aircraft maintenance, repair & overhaul (MRO) prices and recent developments.

Leading companies and the potential for market growth

AAR Corp
Aeroman
Air France Industries KLM Engineering & Maintenance
Aveo's Fleet Performance Inc
British Airways Engineering
Delta TechOps
Etihad Airways Engineering
GE Aerospace
Korean Air Lines Co., Ltd
MTU Aero Engines AG
Sabena technics
SIA Engineering Company
Singapore Technologies Engineering Ltd
TAP Maintenance & Engineering
Turkish Technic

In summary, the report provides you with the following knowledge:

Revenue forecasts to 2034 for Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market, 2024 to 2034 Market, with forecasts for aircraft type, maintenance type, service type, and component type, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market, 2024 to 2034.

For more information about this report visit https://www.researchandmarkets.com/r/orj7tz

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