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Global Wide Body Aircraft MRO Market Analysis 2018 Forecasts to 2023
Market Research Future added New Report Named "Global Wide Body Aircraft MRO Market Research Report- Forecast 2023" to its Database
Aircraft Maintenance, Repair, Overhaul (MRO) is crucial for sustaining the lifespan of wide-body aircraft. It consists of maintenances, overhauls, routine checks, repairs, and modifications disbursed on wide-body aircraft and their elements. MRO services assure the crashworthiness of an aircraft. However, there are some shortcomings in the global wide-body aircraft MRO market, such as government regulations, aircraft retirement, and environmental hazards.
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The global wide-body aircraft MRO market comprises of the maintenance and repair of wide-body aircraft components, engines and air fins. Moreover, the aerospace industries are early adopters of emerging market trends in maintenance service, which has led to the development of aircraft MRO system. The rise in popularity of MRO outsourcing and IT-enabled MRO is estimated to drive the market during the forecast period.
The factors that are responsible for the growth of the global wide-body aircraft MRO market are older fleets and focus of OEM on engine and aircraft MRO. Other key drivers expected to contribute towards the growth of wide-bodythe market are growth in growing fleet size of airlines.
The global wide-body aircraft MRO market is segmented based on MRO type, platform, and region. On the basis of MRO types, the engine MRO is widely used and captures the majority of global wide-body aircraft MRO market due to need for proper maintenance of engines and engine components. On the basis of platform, the commercial segment is estimated to grow at the highest CAGR during the forecast period.
The Wide Body Aircraft MRO Market is segmented based on North America, Asia Pacific, Europe, Middle East & Africa, and South America. Asia Pacific region is expected to dominate the market in future due to the growth in air traffic in the international long-haul routes. North America is second to Asia Pacific in the global wide-body aircraft MRO aircraft market due to the presence of major MRO service providers, such as Airbus and Honeywell. Thus, the global wide-body aircraft MRO market is estimated to grow at approximately 4.5% CAGR during the forecast period of 2017-2023.
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The key players in the global wide-body aircraft MRO market are GE Aviation (U.S.), Honeywell Aerospace (U.S.), Lufthansa Technik (Germany), Pratt & Whitney (U.S.), Rolls-Royce (U.S.), Abu Dhabi Aircraft Technologies (UAE), Air France Industries KLM Engineering and Maintenance (France), MTU Aero Engines (German), and Singapore Technologies Aerospace (Singapore).
Scope of Report
The report for Global Wide-body Aircraft MRO Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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