Report : Europe Airframe MRO Market Forecast to 2030 - Regional Analysis - by Aircraft Type (Fixed-Wing Aircraft and Rotary-Wing Aircraft) and Component (Fuselage, Wings and Rotors, Landing Gear, and Others)
At 4.3% CAGR, Europe Airframe MRO Market is Projected to be Worth US$ 8,078.32 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe airframe MRO market was valued at US$ 5,789.03 million in 2022 and is expected to reach US$ 8,078.32 million by 2030, registering a CAGR of 4.3% from 2022 to 2030. Growing integration of digital technology in MRO industry and increasing air travel are among the critical factors attributed to the Europe airframe MRO market expansion.
The implementation of digital technologies is a necessary step toward the growth of MRO companies; this helps them create continuous data flow through various levels of the supply chain, further streamlining the communication between the stakeholders and accelerating innovation in various operations. The digital revolution in the aviation industry significantly impacts all areas of the supply chain of the aviation industry, including aircraft operations, air traffic management, and aircraft and component manufacturing and servicing. Data-driven technologies such as data analytics, which help in tracking airframe MRO activities in real-time, also optimize the air travel experience of crew and passengers. AI, machine learning, and other advanced technologies facilitate the airline crew and management to understand the airworthiness of the aircraft.
Also, the MRO service providers incorporate AI technologies to boost their procedures by easily and efficiently conducting visual checks and understanding the degree of maintenance and repairs required on the aircraft. Thus, the increasing integration of digital technologies such as AI and machine learning drives the Europe airframe MRO market.
On the contrary, entry of OEMs in aftermarket hampers the growth OF Europe airframe MRO market.
Based on aircraft type, the Europe airframe MRO market is bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment held 65.6% share of the Europe airframe MRO market in 2022, amassing US$ 3,795.01 million. It is projected to garner US$ 5,169.85 million by 2030 to expand at 3.9% CAGR during 2022-2030.
In terms of component, the Europe airframe MRO market is segmented into fuselage, wings and rotors, landing gear, and others. The fuselage segment held 42.2% share of the Europe airframe MRO market in 2022, amassing US$ 2,441.91 million. It is estimated to garner US$ 3,265.24 million by 2030 to expand at 3.7% CAGR during 2022-2030.
Based on country, the Europe airframe MRO market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 27.4% share of Europe airframe MRO market in 2022, amassing US$ 1,584.34 million. It is projected to garner US$ 2,042.20 million by 2030 to expand at 3.2% CAGR during 2022-2030.
Key players operating in the Europe airframe MRO market are AAR CORP; Barnes Group Inc; GE Aviation; FLTechnics, UAB.; Turkish Technic Inc.; Singapore Technologies Engineering Ltd; Lufthansa Technik; Delta TechOps; Rolls-Royce Holdings Plc; and Collins Aerospace, among others.
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