According to a report, “Aerospace & Defense Maintenance, Repair, & Overhaul Market Size, Share & Trends Analysis Report By Product (Engine, Airframe), By Application, By End Use (Commercial, Military), And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global aerospace & defense maintenance, repair, & overhaul market size is expected to reach USD 161.60 billion by 2025, registering a CAGR of 5.4%, as per a new report by Grand View Research, Inc. Expanding aircraft fleet, along with rising number of fleet replacement age is set to propel the growth.
Intensified
demand for air travel, on account of rising disposable income of the masses of
the emerging economies is likely to have a positive impact on the overall
market growth. Burgeoning adoption of modern aircraft by various
government agencies to enhance their defense capabilities is projected to
propel the aerospace and defense Maintenance, Repair, and Overhaul (MRO).
market growth. Moreover, aircrafts with a longer in-service period is expected
to benefit the market progression.
Despite
a large number of growth opportunities, the new market entrants are likely to
experience operational hurdles due to lack of infrastructure, supportive
regulatory norms, and geopolitical restrictions. Furthermore, the presence of
established players, has made the market largely consolidated and the industry
giants have a strong foothold in the global market space.
Full Research Report On Aerospace & Defense Maintenance, Repair, &
Overhaul Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/aerospace-defense-maintenance-repair-overhaul-mro-market
Aerospace &
defense maintenance, repair, & overhaul market Highlights
- The aerospace
& defense maintenance, repair, & overhaul market has witnessed a
checkered growing amid the ongoing COVID-19 outbreak. The pandemic created
an unprecedented uncertainty due to the screeching halt in supply chain
and product demand within the automotive sector
- Line
maintenance will emerge as the fastest-growing product segment during the
forecast period, registering a CAGR of 6.3%. this is ascribed to the
aircraft’s mandatory periodic line maintenance and the expanding number of
passenger & freight traffic
- Narrow-body
aircraft exhibited a revenue share of 53% in 2018, on account of ongoing
upgradation of turboprops and jets with more economical single-aisle
aircraft
- Military MRO
is set to gain enormous traction during the analysis timeline due to
increasing funding initiatives by private corporations and heavy investment
by the regional governments
- The aerospace
and defense MRO market has observed prominent integration by the OEMs to
ramp up the manufacturing capabilities. Therefore, the market players are
striving to focus on generating additional value by implementing improved
business models that span across the product life cycle
- Asia Pacific
market is anticipated to surpass the North America market by 2025 due to
significant boom in annual passenger traffic, surplus investments by India
and China, and rising disposable income of the emerging economies
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Aerospace &
defense maintenance, repair, & overhaul market Segmentation
Grand View Research has
segmented the global aerospace and defense MRO market on the basis of product,
application, end use, and region:
Aerospace and
Defense MRO Product Outlook (Revenue, USD Million, 2014 - 2025)
- Engine
- Airframe
- Line
- Component
Aerospace and
Defense MRO Application Outlook (Revenue, USD Million, 2014 - 2025)
- Narrow Body Aircraft
- Wide Body Aircraft
- Regional Aircraft
- Others
Aerospace and
Defense MRO End Use Outlook (Revenue, USD Million, 2014 - 2025)
- Commercial Aviation
- Business & General Aviation
- Military Aviation
- Others
Aerospace and
Defense MRO Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Singapore
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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