The South & Central America aircraft MRO market was valued at US$ 4,409.43 million in 2022 and is expected to reach US$ 5,260.52 million by 2030; it is estimated to register a CAGR of 2.2% from 2022 to 2030.

Retrofitting of Older Aircraft Fleet Fuels South & Central America Aircraft MRO Market

Retrofitting, which refers to the installation or addition of newer technologies on older aircraft fleets, helps increase passenger comfort and safety and facilitates the airlines in maintaining their older fleets. Continuous advancements in aircraft technologies are resulting in the upgrade of MRO capabilities.

MRO service providers are constantly seeking upgrades and procurement of newer technologies in order to service the newer aircraft as well as retrofit the upgraded technologies on the older aircraft fleets. In the current scenario, global commercial airlines are holding on to their older aircraft fleet owing to the drop in fuel prices. This factor is compelling the airlines to opt for MRO activities frequently, which is facilitating the MRO service providers to offer the airlines to retrofit the aircraft fleet with newer technologies. The retrofitting trend is soaring among the MRO service providers. Thus, the integration of advanced and modern technologies into older aircraft fleets is expected to change the aircraft MRO market landscape as well as the face of the aviation industry.

South & Central America Aircraft Overview

The South America aircraft MRO market is undergoing rapid transformations, and the region has immense potential to increase its trade activities worldwide. Despite the slight recession in the region and economic crisis in countries such as Venezuela and Brazil in recent times, the overall South American region is likely to exhibit a positive outlook toward its global business in the coming years. The IATA has directed the governments of South American countries to implement smart industry regulations to ensure the right infrastructure for the growth of the aviation sector. Achieving profitability through services is a major challenge faced by airline service providers in South America. The profit earned per passenger by the South American airlines is insufficient compared with the global average.

According to The Insight Partners analysis, in 2023, South America had a fleet of more than 1,500 operational commercial aircraft, which is expected to surpass 2,100 by the end of 2033. Such trends of increasing aircraft feet are anticipated to generate the demand for MRO services in the region. Moreover, an increase in the number of aircraft fleet across South America is expected to catalyze the requirement of MRO for major aircraft components such as engines and airframes.

The future of South American aviation sector is prominent owing to the forecast and analysis showcased by the aircraft manufacturing giants, namely Boeing, Airbus, and Embraer. Additionally, the Brazilian defense is substantially monetizing in the procurement of a newer aircraft fleet, which demands enhanced MRO activities owing to the complexity of the newer fleet. Also, the older fleet in the Brazilian defense force requires upgradation and retrofitting activities of advanced technologies, which is expected to catalyze the growth of the aircraft MRO market in the region. South America is also a home to a few of the world's aviation megacities that include Santiago de Chile, Panama City, Cancun, Rio de Janeiro, Bogota, and Lima. For instance, in December 2020, JetBlue airline started a new flight service between Georgetown, Guyana's Cheddi Jagan International Airport (GEO), and New York John F. Kennedy International Airport (JFK). The increasing count of aircraft at the airports is expected to surge the demand for aircraft MRO services to ensure safe operations. These factors are expected to contribute to the aircraft MRO market growth in the region during the forecast period.

South & Central America Aircraft Revenue and Forecast to 2030 (US$ Million)

Get more information on this report

South & Central America Aircraft MRO Strategic Insights

Strategic insights for the South & Central America Aircraft 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.

strategic-framework/south-america-aircraft-mro-market-strategic-framework.webp

Get more information on this report

South & Central America Aircraft MRO Report Scope

Report Attribute	Details
Market size in 2022	US$ 4,409.43 Million
Market Size by 2030	US$ 5,260.52 Million
Global CAGR (2022 - 2030)	2.2%
Historical Data	2020-2021
Forecast period	2023-2030
Segments Covered	By Components Engine MRO Avionics MRO Airframe MRO Cabin MRO Landing Gear MRO By Aircraft Type Fixed Wing Aircraft and Rotary Wing Aircraft By End Users Commercial and Military
Regions and Countries Covered	South and Central America Brazil Argentina Rest of South and Central America
Market leaders and key company profiles	AAR CORP Barnes Group Inc Collins Aerospace Delta TechOps GE Aviation Lufthansa Technik Rolls-Royce Holdings Plc Singapore Technologies Engineering Ltd Turkish Technic Inc.

Get more information on this report

South & Central America Aircraft MRO Regional Insights

The geographic scope of the South & Central America Aircraft 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.

geography/south-america-aircraft-mro-market-geography.webp

Get more information on this report

South & Central America Aircraft Segmentation

The South & Central America aircraft MRO market is categorized into components, aircraft type, end users, and country.

Based on components, the South & Central America aircraft is segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others. The engine MRO segment held the largest market share in 2022.

In terms of aircraft type, the South & Central America aircraft is bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment held a larger market share in 2022.

By end users, the South & Central America aircraft is bifurcated into commercial and military. The commercial segment held a larger market share in 2022.

By country, the South & Central America aircraft is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America aircraft share in 2022.

AAR CORP, Barnes Group Inc, Collins Aerospace, Delta TechOps, GE Aviation, Lufthansa Technik, Rolls-Royce plc, Singapore Technologies Engineering Ltd, and Turkish Technic Inc. are among the leading companies operating in the South & Central America aircraft .

Identical Market Reports with other Region/Countries