Europe Aircraft Engine MRO Market

The aircraft engine MRO market in Europe is expected to grow from US$ 5.55 billion in 2022 to US$ 7.84 billion by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028.

With the increase in air traffic and aircraft demand, air carriers are boosting their aircraft delivery. The demand for new airlines is not just coming from existing aircraft re-establishing their fleet but also from new low–cost aircraft entering the market. A repressed interest of leisure travelers being more cost-sensitive post-pandemic, decreased interest for business travel, and the adaptability of the minimal expense aircraft plan of action are surging the demand for MRO services. Boeing will deliver more than 49000 airplanes by 2040. Airbus expects more than 39000 airlines in 20 years, from 2020 to 2040. From January to March 2022, Boeing delivered 41 jets, three 767s, one 777F, and 37 737s (35 MAX/2 NG). The narrow-body aircraft is gaining significant popularity nowadays. The share of narrow-body aircraft fleet rose as the attractive seat mile efficiency and the improved-range capacity have made the aircraft preferred over cost-efficient carriers. The increasing sale of the A321LR, which was flying even during the COVID-19 pandemic, is expected to bring lucrative opportunities for the aircraft engine MRO market in the coming years. The delivery of narrow-body aircraft was fueled in 2021 by Federal Aviation Administration and European Union Aviation Safety Agency's decision to recertify the Boeing 737 MAX for commercial use. This is likely to generate new opportunities for the aircraft engine MRO market during the forecast period.

 

 Europe Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)

Europe Aircraft Engine MRO Market Segmentation          

The Europe aircraft engine MRO market is segmented by engine, application, aircraft type, and country. Based on engine, the Europe aircraft engine MRO market is bifurcated into turbine engine and piston engine. Turbine engine is expected to dominate the aircraft engine MRO market in 2022. The turbine engine segment is further sub-segmented into turboprop engine, turbofan engine, and turboshaft engine. Turbofan engine is expected to dominate the aircraft engine MRO market in 2022. On the basis of application, the Europe aircraft engine MRO market is segmented into commercial, general, and military. The commercial segment is expected to account for the largest share in 2022 in the Europe aircraft engine MRO market. On the basis of aircraft type, the Europe aircraft engine MRO market is categorized into fixed wing and rotary wing. Fixed wing is expected to dominate the market in 2022. The Europe aircraft engine MRO market, based on country, is segmented into Germany, France, the UK, Italy, Russia, and the rest of Europe. France dominated the market in 2022.

Key players dominating the Europe aircraft engine MRO market are CFM International, Delta Air Line, GE Aviation, Lufthansa Technik, MTU Aero Engines AG, Raytheon Technologies Corporation, Rolls-Royce plc, and Safran.

Europe Aircraft Engine MRO Strategic Insights

Strategic insights for the Europe Aircraft Engine MRO provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Aircraft Engine MRO Report Scope

Europe Aircraft Engine MRO Regional Insights

The geographic scope of the Europe Aircraft Engine MRO refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.