Europe Aircraft MRO Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, and Others), Aircraft Type (Fixed Wing Aircraft and Rotary Wing Aircraft), and End-User (Commercial and Military)

Code: TIPRE00022958 | Pages: 134 | Industry: Aerospace and Defense | Date: Jun 2021
Covid

Market Introduction

Europe comprises France, Germany, Italy, Russia, the UK, and the Rest of Europe. Having more than 20,000 flights a day and ~500 million passengers flying every year, Europe accredits to have the world’s busiest airspace. The strength of the regional economy and growing air travel, which is increasing the use of MRO services due to growing flying hours are some of the significant factors mainly driving the demand for aircraft MRO market in Europe. The demand for new modern aircraft in the commercial and military aircraft fleets in the region is also driving the market for aircraft MRO. The airlines in European region needs to adhere to the stringent rules and regulations set by European Aviation Safety Agency (EASA) to ensure passenger safety is directly impacting on the growth of aircraft MRO market. Aircraft MRO aids in the maintenance process and improves the aircraft's reliability and productivity. In addition, the European market is influenced by the company's other inorganic market strategies, such as partnerships, which help to establish relationships with other suppliers while also allowing the company to gain market position. For example, Lufthansa Technik, Germany's largest MRO service provider, teamed up with Collins Aerospace, a US-based aerospace and defense products supplier. The collaboration aims to provide maintenance services for the Airbus A380 main landing gear. As a result of the collaboration, the German aircraft MRO market is expected to expand, which will eventually boost the European aircraft MRO market.

In case of COVID-19, Europe is highly affected specially the UK. Additionally, with the outbreak of another variant of COVID-19 in the UK, the aircraft MRO market is expected to get hampered. European countries have a substantial number of airline operators across respective territories. Owing to the severity of the situation, the aircraft MRO manufacturers operating in the countries are experiencing substantially lesser orders, which is hampering the aircraft MRO manufacturer’s business. This, in turn, is ultimately negatively affecting the aircraft MRO market in the region. The A380 passenger aircraft were discontinued during the COVID-19 pandemic as most of these aircraft were grounded due to their high passenger capacity and low fuel efficiency, compared to smaller aircraft. The vacant seats and low passenger count shifted the airlines toward narrow-body aircraft. Airbus A380 is one of the largest revenue-generating aircraft for the MRO market; hence, its discontinuation due to the COVID-19 crisis in 2020 has affected the market growth. For instance, in May 2020, Air France retired its fleet of nine Airbus A380s amid COVID-19 crisis. Similarly, in February 2021, Lufthansa Group also initiated the strategy to replace A380 and 747 with new smaller type aircraft due to consequence of the low air transportation in 2020.


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Market Overview and Dynamics

The Europe aircraft MRO market is expected to grow from US$ 12.22 billion in 2021 to US$ 15.46 billion by 2028; it is estimated to grow at a CAGR of 3.4% from 2021 to 2028. Adoption of blockchain technology with MRO is expected to drive the Europe aircraft MRO market. The MRO services in aviation industry play an irreplaceable role in assuring durability, safety, and profitability of commercial and military airlines. To maintain their market position in the future, businesses should adopt flexibility toward adapting new and trending technologies, which would help digitalize their business processes, thereby ruling out the dependency on humans. Advanced technologies such as blockchain improve processes in MRO organizations. The technology has a massive potential in the MRO space. The adoption of blockchain technology has been low so far; however, soon, this technology would contribute a considerable share to the overall growth of the Europe aircraft MRO market. With the help of the blockchain technology, companies can record the configuration details of MRO components. This also makes the documentation process across component manufacturers and MRO service providers effortless. Additionally, the deployment of this technology also enables MRO service providers to offer verifiable documentation about the parts they have installed, thereby maintaining transparency in their operations. The aviation industry players such as aircraft manufacturers, aircraft MRO service providers, and aviation technology developers are highly emphasizing on adopting the blockchain technology with an objective to track their MRO processes. This factor is posing a prominent future of market and anticipated to stimulate the Europe aircraft MRO market in the coming years.

Key Market Segments

In terms of component, the engine MRO segment accounted for the largest share of the Europe aircraft MRO market in 2020. In terms of aircraft type, the fixed wing aircraft segment held a larger market share of the Europe aircraft MRO market in 2020.  Further, the commercial segment held a larger share of the Europe aircraft MRO market based on end-user in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Europe aircraft MRO market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AAR; Barnes Group Inc.; Collins Aerospace; Delta TechOps; FLTechnics, UAB.; GE Aviation; Lufthansa Technik; Rolls-Royce plc.; and Singapore Technologies Engineering Ltd.

Reasons to buy report

  • To understand the Europe aircraft MRO market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe aircraft MRO market
  • Efficiently plan M&A and partnership deals in Europe aircraft MRO market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe aircraft MRO market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

Europe Aircraft MRO Market Segmentation

Europe Aircraft MRO Market - By Component

  • Engine MRO
  • Avionics MRO
  • Airframe MRO
  • Cabin MRO
  • Landing Gear MRO
  • Others

Europe Aircraft MRO Market - By Aircraft Type

  • Fixed Wing Aircraft
  • Rotary Wing Aircraft

Europe Aircraft MRO Market - By End-User

  • Commercial  
  • Military

Europe Aircraft MRO Market - By Country

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe  

Europe Aircraft MRO Market - Company Profiles

  • AAR
  • Barnes Group Inc.
  • Collins Aerospace
  • Delta TechOps
  • FLTechnics, UAB.
  • GE Aviation
  • Lufthansa Technik     
  • Rolls-Royce plc.
  • Singapore Technologies Engineering Ltd

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.           Europe Aircraft MRO Market Landscape

4.1         Market Overview

4.2         Porter’s Five Forces Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinions

5.           Europe Aircraft MRO Market – Key Market Dynamics

5.1         Drivers

5.1.1        Surging Demand for MRO Services

5.1.2        Growth of Digital Technology for MRO Industry

5.2         Restraints

5.2.1        Rising Share of Original Equipment Manufacturers (OEMs) In the Aftermarket

5.3         Opportunities

5.3.1        Increase in the Use of Retrofitting Technologies for Improved Aircraft

5.4         Future Trends

5.4.1        Adoption of Blockchain Technology

5.5         Impact Analysis of Drivers and Restraints

6.           Aircraft MRO Market – Europe Analysis

6.1         Europe Aircraft MRO Market Overview

6.2         Europe Aircraft MRO Market Revenue Forecast and Analysis

7.           Europe Aircraft MRO Market Revenue and Forecast to 2028 – By Component

7.1         Overview

7.2         Europe Aircraft MRO Market Breakdown, by Component, 2020 and 2028

7.3         Engine MRO

7.3.1        Overview

7.3.2        Engine MRO Market Forecast and Analysis

7.4         Avionics MRO

7.4.1        Overview

7.4.2        Avionics MRO Market Forecast and Analysis

7.5         Airframe MRO

7.5.1        Overview

7.5.2        Airframe MRO Market Forecast and Analysis

7.6         Cabin MRO

7.6.1        Overview

7.6.2        Cabin MRO Market Forecast and Analysis

7.7         Landing Gear MRO

7.7.1        Overview

7.7.2        Landing Gear MRO Market Forecast and Analysis

7.8         Others

7.8.1        Overview

7.8.2        Others Market Forecast and Analysis

8.           Europe Aircraft MRO Market Revenue and Forecast to 2028– By Aircraft Type

8.1         Overview

8.2         Europe Aircraft MRO Market Breakdown, by Aircraft Type, 2020 and 2028

8.3         Fixed Wing

8.3.1        Overview

8.3.2        Fixed Wing Market Forecast and Analysis

8.4         Rotary Wing

8.4.1        Overview

8.4.2        Rotary Wing Market Forecast and Analysis

9.           Europe Aircraft MRO Market Revenue and Forecast to 2028– By End-User

9.1         Overview

9.2         Europe Aircraft MRO Market Breakdown, by End-User, 2020 and 2028

9.3         Commercial

9.3.1        Overview

9.3.2        Commercial Market Forecast and Analysis

9.4         Military

9.4.1        Overview

9.4.2        Military Market Forecast and Analysis

10.        Europe Aircraft MRO Market – Country Analysis

10.1      Overview

10.1.1     Europe: Aircraft MRO Market, by Key Country

10.1.1.1       Germany: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.1.1       Germany: Aircraft MRO Market, by Component

10.1.1.1.2       Germany: Aircraft MRO Market, by Aircraft Type

10.1.1.1.3       Germany: Aircraft MRO Market, by End-User

10.1.1.2       UK: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.2.1       UK: Aircraft MRO Market, by Component

10.1.1.2.2       UK: Aircraft MRO Market, by Aircraft Type

10.1.1.2.3       UK: Aircraft MRO Market, by End-User

10.1.1.3       France: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.3.1       France: Aircraft MRO Market, by Component

10.1.1.3.2       France: Aircraft MRO Market, by Aircraft Type

10.1.1.3.3       France: Aircraft MRO Market, by End-User

10.1.1.4       Italy: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.4.1       Italy: Aircraft MRO Market, by Component

10.1.1.4.2       Italy: Aircraft MRO Market, by Aircraft Type

10.1.1.4.3       Italy: Aircraft MRO Market, by End-User

10.1.1.5       Russia: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.5.1       Russia: Aircraft MRO Market, by Component

10.1.1.5.2       Russia: Aircraft MRO Market, by Aircraft Type

10.1.1.5.3       Russia: Aircraft MRO Market, by End-User

10.1.1.6       Rest of Europe: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.6.1       Rest of Europe: Aircraft MRO Market, by Component

10.1.1.6.2       Rest of Europe: Aircraft MRO Market, by Aircraft Type

10.1.1.6.3       Rest of Europe: Aircraft MRO Market, by End-User

11.        Europe Aircraft MRO Market - COVID-19 Impact Analysis

11.1      Europe: Impact Assessment of COVID-19 Pandemic

12.        Industry Landscape

12.1      Overview

12.2      Market Initiative

12.3      Merger and Acquisition

13.        Company Profiles

13.1      AAR

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      Barnes Group Inc.

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3      GE Aviation

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      FLTechnics, UAB.

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      Singapore Technologies Engineering Ltd

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      Lufthansa Technik

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      Delta TechOps

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      Rolls-Royce plc.

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9      Collins Aerospace

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Word Index

LIST OF TABLES

Table 1.             Europe Aircraft MRO Market Revenue and Forecast to 2028 (US$ Billion)

Table 2.             Europe: Aircraft MRO Market, by Country – Revenue and Forecast to 2028 (US$ Billion)

Table 3.             Germany: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)

Table 4.             Germany: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)

Table 5.             Germany: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)

Table 6.             UK: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)

Table 7.             UK: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)

Table 8.             UK: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)

Table 9.             France: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)

Table 10.          France: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)

Table 11.          France: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)

Table 12.          Italy: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)

Table 13.          Italy: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)

Table 14.          Italy: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)

Table 15.          Russia: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)

Table 16.          Russia: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)

Table 17.          Russia: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)

Table 18.          Rest of Europe: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)

Table 19.          Rest of Europe: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)

Table 20.          Rest of Europe: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)

Table 21.          List of Abbreviation

LIST OF FIGURES

Figure 1.           Europe Aircraft MRO Market Segmentation

Figure 2.           Europe Aircraft MRO Market Segmentation – By Country

Figure 3.           Europe Aircraft MRO Market Overview

Figure 4.           Europe Aircraft MRO Market, by Component

Figure 5.           Europe Aircraft MRO Market, by Aircraft Type

Figure 6.           Europe Aircraft MRO Market, by End-User

Figure 7.           Europe Aircraft MRO Market, By Country

Figure 8.           Porter’s Five Forces Analysis

Figure 9.           Europe Aircraft MRO Market- Ecosystem Analysis

Figure 10.        Europe Aircraft MRO Market Impact Analysis of Driver and Restraints

Figure 11.        Europe Aircraft MRO Market Revenue Forecast and Analysis (US$ Billion)

Figure 12.        Europe Aircraft MRO Market Breakdown, by Component, 2020 and 2028(%)

Figure 13.        Europe Engine MRO Market Revenue and Forecast to 2028 (US$ Bn)

Figure 14.        Europe Avionics MRO Market Revenue and Forecast to 2028 (US$ Bn)

Figure 15.        Europe Airframe MRO Market Revenue and Forecast to 2028 (US$ Bn)

Figure 16.        Europe Cabin MRO Market Revenue and Forecast to 2028 (US$ Bn)

Figure 17.        Europe Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Bn)

Figure 18.        Europe Others Market Revenue and Forecast to 2028 (US$ Bn)

Figure 19.        Europe Aircraft MRO Market Breakdown, by Aircraft Type, 2020 and 2028 (%)

Figure 20.        Europe Fixed Wing Market Revenue and Forecast to 2028 (US$ Bn)

Figure 21.        Europe Rotary Wing Market Revenue and Forecast to 2028 (US$ Bn)

Figure 22.        Europe Aircraft MRO Market Breakdown, by End-User, 2020 and 2028(%)

Figure 23.        Europe Commercial Market Revenue and Forecast to 2028 (US$ Bn)

Figure 24.        Europe Military Market Revenue and Forecast to 2028 (US$ Bn)

Figure 25.        Europe: Aircraft MRO Market, by Key Country – Revenue (2020) (USD Billion)

Figure 26.        Europe: Aircraft MRO Market Revenue Share, by Key Country (2020 and 2028)

Figure 27.        Germany: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 28.        UK: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 29.        France: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 30.        Italy: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 31.        Russia: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 32.        Rest of Europe: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 33.        Impact of COVID-19 Pandemic in Europe Country Markets

 

  1. AAR
  2. Barnes Group Inc.
  3. Collins Aerospace
  4. Delta TechOps
  5. FLTechnics, UAB.
  6. GE Aviation
  7. Lufthansa Technik
  8. Rolls-Royce plc.
  9. Singapore Technologies Engineering Ltd
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