Asia Pacific Aircraft Engine MRO Market Forecast to 2028 – COVID-19 Impact and Analysis – by Engine (Turbine Engine and Piston Engine), Application (Commercial, General, and Military), and Aircraft Type (Fixed Wing and Rotary Wing)
The aircraft engine MRO market in Asia Pacific is expected to grow from US$ 7.98 billion in 2022 to US$ 11.91 billion by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028.
ring the COVID-19 recovery period, the aviation industry witnessed a gradual recovery, which increased aircraft movements. Aircraft manufacturers and military forces are implementing strategies to increase fleet expansion, contributing to the aircraft engine MRO market growth. Several airline companies implemented various strategies to increase their aircraft engine MRO market share, such as mergers & acquisitions and lining up new flights. For instance, in 2020, Textron Aviation acquired Australian MRO service provider Premiair Aviation Maintenance. In 2022, Malaysian and Turkish airlines are resuming their passenger flights in India after two years; Emirates is also restoring its pre-pandemic schedule of 172 flights per week. Thus, the increased number of flights drives the aircraft engine MRO market significantly. Moreover, the alarmingly high number of recent aircraft accidents due to engine failure concerns internal efficiency and aircraft engine maintenance. This factor is fueling the demand for aircraft engine MRO services, aiding the market's growth. Governments are providing direct support to the aviation industry. Several developed and developing countries, such as China and India, are surfacing as profitable markets for aircraft engine MRO services. For instance, in March 2022, Hindustan Aeronautics Limited and Safran joined hands and opened a new Helicopter Engines MRO Pvt Ltd. facility in India. This MRO facility will be active by the end of 2023, with the capacity to repair 50 aircraft engines a year and a full capacity target of 150 engines in a couple of years. According to the Civil Aviation Administration of China, by 2035, the country's total number of air terminals is likely to double due to the government's financial support for the aviation industry.
Asia Pacific Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Asia Pacific Aircraft Engine MRO Market Segmentation
The Asia Pacific aircraft engine MRO market is segmented by engine, application, aircraft type, and country. Based on engine, the Asia Pacific 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 Asia Pacific 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 Asia Pacific aircraft engine MRO market. On the basis of aircraft type, the Asia Pacific aircraft engine MRO market is categorized into fixed wing and rotary wing. Fixed wing is expected to dominate the market in 2022. Based on country, the Asia Pacific aircraft engine MRO market is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. China dominated the market in 2022.
Key players dominating the Asia Pacific aircraft engine MRO market are CFM International, Delta Air Line, GE Aviation, Lufthansa Technik, MTU Aero Engines AG, Raytheon Technologies Corporation, Rolls-Royce plc, Safran, SIA Engineering Company, and Sigma Aerospace.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Aircraft Engine MRO Market Landscape
4.1 Market Overview
4.2 Porter’s Five Force Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Aircraft Engine MRO Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Resuming of Grounded Aircraft Post–Pandemic
5.1.2 Stringent Government Regulations Related to Carbon Emissions
5.2 Market Restraints
5.2.1 Suspension of Older Aircraft Fleets
5.3 Market Opportunities
5.3.1 Expected Future Delivery of Aircraft
5.4 Future Trends
5.4.1 The Increasing Demand for Fuel–Efficient Aircraft
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Engine MRO Market – APAC Analysis
6.1 APAC Aircraft Engine MRO Market Overview
6.2 APAC Aircraft Engine MRO Market Forecast and Analysis
7. APAC Aircraft Engine MRO Market Analysis – By Engine
7.1 Overview
7.2 APAC Aircraft Engine MRO Market, By Engine (2021 and 2028)
7.3 Turbine Engine
7.3.1 Overview
7.3.2 Turbine Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
7.3.2.1 Turboprop Engine
7.3.2.1.1 Overview
7.3.2.1.2 Turboprop Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
7.3.2.2 Turbofan Engine
7.3.2.2.1 Overview
7.3.2.2.2 Turbofan Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
7.3.2.3 Turboshaft Engine
7.3.2.3.1 Overview
7.3.2.3.2 Turboshaft Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
7.4 Piston Engine
7.4.1 Overview
7.4.2 Piston Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
8. APAC Aircraft Engine MRO Market Analysis – By Application
8.1 Overview
8.2 APAC Aircraft Engine MRO Market, By Application (2021 and 2028)
8.3 Commercial
8.3.1 Overview
8.3.2 Commercial: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
8.4 General
8.4.1 Overview
8.4.2 General: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
8.5 Military
8.5.1 Overview
8.5.2 Military: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
9. APAC Aircraft Engine MRO Market Analysis – By Aircraft Type
9.1 Overview
9.2 APAC Aircraft Engine MRO Market, By Aircraft Type (2021 and 2028)
9.3 Fixed Wing
9.3.1 Overview
9.3.2 Fixed Wing: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
9.4 Rotary Wing
9.4.1 Overview
9.4.2 Rotary Wing: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
10. APAC Aircraft Engine MRO Market – Country Analysis
10.1 Overview
10.1.1 APAC: Aircraft Engine MRO Market, by Key Country
10.1.1.1 Australia: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.1.1 Australia: Aircraft Engine MRO Market, by Engine
10.1.1.1.1.1 Australia: Aircraft Engine MRO Market, by Turbine Engine
10.1.1.1.2 Australia: Aircraft Engine MRO Market, by Application
10.1.1.1.3 Australia: Aircraft Engine MRO Market, by Aircraft Type
10.1.1.2 China: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.2.1 China: Aircraft Engine MRO Market, by Engine
10.1.1.2.1.1 China: Aircraft Engine MRO Market, by Turbine Engine
10.1.1.2.2 China: Aircraft Engine MRO Market, by Application
10.1.1.2.3 China: Aircraft Engine MRO Market, by Aircraft Type
10.1.1.3 India: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.3.1 India: Aircraft Engine MRO Market, by Engine
10.1.1.3.1.1 India: Aircraft Engine MRO Market, by Turbine Engine
10.1.1.3.2 India: Aircraft Engine MRO Market, by Application
10.1.1.3.3 India: Aircraft Engine MRO Market, by Aircraft Type
10.1.1.4 Japan: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.4.1 Japan: Aircraft Engine MRO Market, by Engine
10.1.1.4.1.1 Japan: Aircraft Engine MRO Market, by Turbine Engine
10.1.1.4.2 Japan: Aircraft Engine MRO Market, by Application
10.1.1.4.3 Japan: Aircraft Engine MRO Market, by Aircraft Type
10.1.1.5 South Korea: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.5.1 South Korea: Aircraft Engine MRO Market, by Engine
10.1.1.5.1.1 South Korea: Aircraft Engine MRO Market, by Turbine Engine
10.1.1.5.2 South Korea: Aircraft Engine MRO Market, by Application
10.1.1.5.3 South Korea: Aircraft Engine MRO Market, by Aircraft Type
10.1.1.6 Rest of APAC: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.6.1 Rest of APAC: Aircraft Engine MRO Market, by Engine
10.1.1.6.1.1 Rest of APAC: Aircraft Engine MRO Market, by Turbine Engine
10.1.1.6.2 Rest of APAC: Aircraft Engine MRO Market, by Application
10.1.1.6.3 Rest of APAC: Aircraft Engine MRO Market, by Aircraft Type
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Delta Air Line
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 GE Aviation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 CFM International
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Lufthansa Technik
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 MTU Aero Engines AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Safran
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 SIA Engineering Company
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 roducts and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Sigma Aerospace
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Rolls-Royce plc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Raytheon Technologies Corporation
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Table 2. Australia: Aircraft Engine MRO Market, by Engine–Revenue and Forecast to 2028 (US$ Billion)
Table 3. Australia: Aircraft Engine MRO Market, by Turbine Engine–Revenue and Forecast to 2028 (US$ Billion)
Table 4. Australia: Aircraft Engine MRO Market, by Application–Revenue and Forecast to 2028 (US$ Billion)
Table 5. Australia: Aircraft Engine MRO Market, by Aircraft Type –Revenue and Forecast to 2028 (US$ Billion)
Table 6. China: Aircraft Engine MRO Market, by Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 7. China: Aircraft Engine MRO Market, by Turbine Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 8. China: Aircraft Engine MRO Market, by Application – Revenue and Forecast to 2028 (US$ Billion)
Table 9. China: Aircraft Engine MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 10. India: Aircraft Engine MRO Market, by Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 11. India: Aircraft Engine MRO Market, by Turbine Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 12. India: Aircraft Engine MRO Market, by Application – Revenue and Forecast to 2028 (US$ Billion)
Table 13. India: Aircraft Engine MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 14. Japan: Aircraft Engine MRO Market, by Engine–Revenue and Forecast to 2028 (US$ Billion)
Table 15. Japan: Aircraft Turbine Engine MRO Market, by Engine–Revenue and Forecast to 2028 (US$ Billion)
Table 16. Japan: Aircraft Engine MRO Market, by Application–Revenue and Forecast to 2028 (US$ Billion)
Table 17. Japan: Aircraft Engine MRO Market, by Aircraft Type –Revenue and Forecast to 2028 (US$ Billion)
Table 18. South Korea: Aircraft Engine MRO Market, by Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 19. South Korea: Aircraft Engine MRO Market, by Turbine Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 20. South Korea: Aircraft Engine MRO Market, by Application – Revenue and Forecast to 2028 (US$ Billion)
Table 21. South Korea: Aircraft Engine MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 22. Rest of APAC: Aircraft Engine MRO Market, by Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 23. Rest of APAC: Aircraft Engine MRO Market, by Turbine Engine – Revenue and Forecast to 2028 (US$ Billion)
Table 24. Rest of APAC: Aircraft Engine MRO Market, by Application – Revenue and Forecast to 2028 (US$ Billion)
Table 25. Rest of APAC: Aircraft Engine MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 26. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Aircraft Engine MRO Market Segmentation
Figure 2. APAC Aircraft Engine MRO Market Segmentation – By Country
Figure 3. APAC Aircraft Engine MRO Market Overview
Figure 4. Turbine Engine Segment held the Largest Share of APAC Aircraft Engine MRO Market
Figure 5. Turbofan Engine Segment held the Largest Share of APAC Aircraft Engine MRO Market
Figure 6. Commercial Segment held the Largest Share of APAC Aircraft Engine MRO Market
Figure 7. Fixed Wing Segment held the Largest Share of APAC Aircraft Engine MRO Market
Figure 8. China to Show Great Traction During Forecast Period
Figure 9. APAC Aircraft Engine MRO Market– Porter’s Five Forces Analysis
Figure 10. Ecosystem Analysis: APAC Aircraft Engine MRO Market
Figure 11. Expert Opinion
Figure 12. APAC Aircraft Engine MRO Market: Impact Analysis of Drivers and Restraints
Figure 13. APAC Aircraft Engine MRO Market Forecast and Analysis (US$ Billion)
Figure 14. APAC Aircraft Engine MRO Market, By Engine (2021 and 2028)
Figure 15. Turbine Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 16. Turboprop Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 17. Turbofan Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 18. Turboshaft Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 19. Piston Engine: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 20. APAC Aircraft Engine MRO Market, By Application (2021 and 2028)
Figure 21. Commercial: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 22. General : APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 23. Military: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 24. APAC Aircraft Engine MRO Market, By Aircraft Type (2021 and 2028)
Figure 25. Fixed Wing: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 26. Rotary Wing: APAC Aircraft Engine MRO Market Revenue and Forecast to 2028 (US$ Billion)
Figure 27. APAC: Aircraft Engine MRO Market, by key Country – Revenue (2021) (US$ Billion)
Figure 28. APAC: Aircraft Engine MRO Market Revenue Share, by Key Country (2021 and 2028)
Figure 29. Australia: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 30. China: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 31. India: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 32. Japan: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 33. South Korea: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 34. Rest of APAC: Aircraft Engine MRO Market – Revenue and Forecast to 2028 (US$ Billion)
- CFM International
- Delta Air Line
- GE Aviation
- Lufthansa Technik
- MTU Aero Engines AG
- Raytheon Technologies Corporation
- Rolls-Royce plc
- Safran
- SIA Engineering Company
- Sigma Aerospace
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific Aircraft Engine MRO Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific Aircraft Engine MRO Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Aircraft Engine MRO Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution