Why Aircraft MRO business is booming | Future Growth Opportunities for your business

The Asia Pacific was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. The Asia Pacific aircraft MRO market size is expected to gradually increase in the coming years till 2027. The potential countries in terms of the aviation industry in Southeast Asia region, such as Singapore, Malaysia, Thailand, and others, generate more revenue for the aircraft MRO market in the APAC region.

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With the rapidly growing aviation industry from the past few years, the demand for airline MRO services is also increasing. Emerging economies, such as those in APAC, are highly focused on extending MRO services to commercial as well as military aircraft companies. Economic growth, increasing passengers, and growing aviation infrastructure spending across APAC are the factors driving unparalleled growth in the aircraft MRO market in APAC. According to the International Air Transport Association (IATA), the total number of new passengers would increase over the next 20 years and it would further increase the demand for MRO activities for up-gradation of the aircraft fleet. The rising number of middle-class travelers, especially in APAC countries such as India, China, and Singapore, is the main factor contributing to the growth of air travel which is consequently increasing the need for aircraft MRO services in the region. The governments in the above-mentioned countries, as well as other emerging economies, are supporting the growth of aviation MRO services as it is a crucial strategy to support the economic goals of the region by focusing on enhancing the aircraft MRO activities.

The List of Companies

1. AAR Corp
2. Barnes Group Inc.
3. Collins Aerospace
4. Delta TechOps
5. FL Technics
6. GE Aviation
7. Lufthansa Technik
8. Rolls-Royce Plc
9. Singapore Technologies Engineering Ltd.
10. Turkish Technic Inc.