The aircraft engine MRO market in Europe is expected to grow from US$ 5.55 billion in 2022 to US$ 7.84 billion by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028.
With the increase in air traffic and aircraft demand, air carriers are boosting their aircraft delivery. The demand for new airlines is not just coming from existing aircraft re-establishing their fleet but also from new low–cost aircraft entering the market. A repressed interest of leisure travelers being more cost-sensitive post-pandemic, decreased interest for business travel, and the adaptability of the minimal expense aircraft plan of action are surging the demand for MRO services. Boeing will deliver more than 49000 airplanes by 2040. Airbus expects more than 39000 airlines in 20 years, from 2020 to 2040. From January to March 2022, Boeing delivered 41 jets, three 767s, one 777F, and 37 737s (35 MAX/2 NG). The narrow-body aircraft is gaining significant popularity nowadays. The share of narrow-body aircraft fleet rose as the attractive seat mile efficiency and the improved-range capacity have made the aircraft preferred over cost-efficient carriers. The increasing sale of the A321LR, which was flying even during the COVID-19 pandemic, is expected to bring lucrative opportunities for the aircraft engine MRO market in the coming years. The delivery of narrow-body aircraft was fueled in 2021 by Federal Aviation Administration and European Union Aviation Safety Agency's decision to recertify the Boeing 737 MAX for commercial use. This is likely to generate new opportunities for the aircraft engine MRO market during the forecast period.
Europe Aircraft Engine MRO Market Segmentation
The Europe aircraft engine MRO market is segmented by engine, application, aircraft type, and country. Based on engine, the Europe 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 Europe 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 Europe aircraft engine MRO market. On the basis of aircraft type, the Europe aircraft engine MRO market is categorized into fixed wing and rotary wing. Fixed wing is expected to dominate the market in 2022. The Europe aircraft engine MRO market, based on country, is segmented into Germany, France, the UK, Italy, Russia, and the rest of Europe. France dominated the market in 2022.
Key players dominating the Europe aircraft engine MRO market are CFM International, Delta Air Line, GE Aviation, Lufthansa Technik, MTU Aero Engines AG, Raytheon Technologies Corporation, Rolls-Royce plc, and Safran.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 5.55 Billion |
| Market Size by 2028 | US$ 7.84 Billion |
| CAGR (2021 - 2028) | 5.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Engine
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Aircraft Engine MRO Market is valued at US$ 5.55 Billion in 2022, it is projected to reach US$ 7.84 Billion by 2028.
As per our report Europe Aircraft Engine MRO Market, the market size is valued at US$ 5.55 Billion in 2022, projecting it to reach US$ 7.84 Billion by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The Europe Aircraft Engine MRO Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Aircraft Engine MRO Market report:
The Europe Aircraft Engine MRO Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Aircraft Engine MRO Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Aircraft Engine MRO Market value chain can benefit from the information contained in a comprehensive market report.
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