South America 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)
Market Introduction
The SAM aircraft MRO market is undergoing rapid transformations, and the region has immense potential to increase its trade activities worldwide. The future of South American aviation sector is prominent owing to the forecast and analysis showcased by the aircraft manufacturing giants namely, Boeing, Airbus, and Embraer. Additionally, the Brazilian defense is substantially monetizing in procurement of newer aircraft fleet, which demand enhanced MRO activities owing to the complexity of newer fleet. Also, the older fleet in Brazilian defense force requires up gradation and retrofitting activities of advanced technologies, which is expected to catalyze the growth of aircraft MRO market in the region. SAM is also a home to a few of the world’s aviation megacities that include Santiago de Chile, Panama City, Cancun, Rio de Janeiro, Bogota, and Lima. For instance, in December 2020, the JetBlue airline started a new flight service between Georgetown, Guyana’s Cheddi Jagan International Airport (GEO) and New York John F. Kennedy International Airport (JFK). The increasing count of aircraft at the airports is expected to surge the demand for aircraft MRO services to assure safe operations. These factors present are expected to contribute to the aircraft MRO market growth in the region during the forecast period. Rising demand for MRO services and emergence of digital technology for MRO industry are the major factor driving the growth of the SAM aircraft MRO market.
In case of COVID-19, SAM is highly affected, especially Brazil, followed by Peru, Chile, Colombia, and Ecuador, among others. The governments in SAM have taken an array of actions to protect their citizens and contain COVID-19’s spread. Brazil is the largest spender in the aerospace industry and has the highest number of airports in the region. The Brazilian government is eyeing on developing airport infrastructure; however, the COVID-19 outbreak has shifted the focus toward human well-being. This has resulted in allocation of limited resources and investments toward airport infrastructure and services, thereby slowing the adoption of aircraft MRO services. This factor has negatively impacted the aircraft MRO market. Furthermore, closing of airline businesses in the region is also expected to hamper the growth of the market in the region. For example, Argentinian branch of LAN Argentina is closing due to the economic uncertainty caused by COVID-19.
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Market Overview and Dynamics
The SAM aircraft MRO market is expected to grow from US$ 2.46 billion in 2021 to US$ 2.84 billion by 2028; it is estimated to grow at a CAGR of 2.1 % from 2021 to 2028. Integration of MRO services with blockchain technology will boost up the SAM 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 SAM 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. Thus, 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 SAM aircraft MRO market and anticipated to stimulate the SAM 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 SAM aircraft MRO market in 2020. In terms of aircraft type, the fixed wing aircraft segment held a larger market share of the SAM aircraft MRO market in 2020. Further, the commercial segment held a larger share of the SAM 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 SAM 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, GE Aviation, Lufthansa Technik, and Rolls-Royce plc.
Reasons to buy report
- To understand the SAM 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 SAM aircraft MRO market
- Efficiently plan M&A and partnership deals in SAM 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 SAM aircraft MRO market
- Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.
SAM Aircraft MRO Market Segmentation
SAM Aircraft MRO Market - By Component
- Engine MRO
- Avionics MRO
- Airframe MRO
- Cabin MRO
- Landing Gear MRO
- Others
SAM Aircraft MRO Market - By Aircraft Type
- Fixed Wing Aircraft
- Rotary Wing Aircraft
SAM Aircraft MRO Market - By End-User
- Commercial
- Military
SAM Aircraft MRO Market - By Country
- Brazil
- Argentina
- Rest of SAM
SAM Aircraft MRO Market - Company Profiles
- AAR
- Barnes Group Inc.
- Collins Aerospace
- Delta TechOps
- GE Aviation
- Lufthansa Technik
- Rolls-Royce plc.
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. SAM Aircraft MRO Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. SAM Aircraft MRO Market – Key Market Dynamics
5.1 Drivers
5.1.1 Rising Demand for MRO Services
5.1.2 Emergence of Digital Technology for MRO Industry
5.2 Restraints
5.2.1 Escalating Share of Original Equipment Manufacturers (OEMs) In the Aftermarket
5.3 Opportunities
5.3.1 Deployment of Retrofitting Technologies for Improved Aircraft
5.4 Future Trends
5.4.1 Integration with Blockchain Technology
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft MRO Market – SAM Analysis
6.1 SAM Aircraft MRO Market Overview
6.2 SAM Aircraft MRO Market Revenue Forecast and Analysis
7. SAM Aircraft MRO Market Revenue and Forecast to 2028 – By Component
7.1 Overview
7.2 SAM 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. SAM Aircraft MRO Market Revenue and Forecast to 2028– By Aircraft Type
8.1 Overview
8.2 SAM 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. SAM Aircraft MRO Market Revenue and Forecast to 2028– By End-User
9.1 Overview
9.2 SAM 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. SAM Aircraft MRO Market – Country Analysis
10.1 Overview
10.1.1 SAM: Aircraft MRO Market, by Key Country
10.1.1.1 Brazil: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.1.1 Brazil: Aircraft MRO Market, by Component
10.1.1.1.2 Brazil: Aircraft MRO Market, by Aircraft Type
10.1.1.1.3 Brazil: Aircraft MRO Market, by End-User
10.1.1.2 Argentina: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.2.1 Argentina: Aircraft MRO Market, by Component
10.1.1.2.2 Argentina: Aircraft MRO Market, by Aircraft Type
10.1.1.2.3 Argentina: Aircraft MRO Market, by End-User
10.1.1.3 Rest of SAM: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.3.1 Rest of SAM: Aircraft MRO Market, by Component
10.1.1.3.2 Rest of SAM: Aircraft MRO Market, by Aircraft Type
10.1.1.3.3 Rest of SAM: Aircraft MRO Market, by End-User
11. SAM Aircraft MRO Market - COVID-19 Impact Analysis
11.1 SAM: 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 Lufthansa Technik
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 Delta TechOps
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 Rolls-Royce plc.
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 Collins Aerospace
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
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. SAM Aircraft MRO Market Revenue and Forecast to 2028 (US$ Billion)
Table 2. SAM: Aircraft MRO Market, by Country – Revenue and Forecast to 2028 (US$ Billion)
Table 3. Brazil: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)
Table 4. Brazil: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 5. Brazil: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)
Table 6. Argentina: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)
Table 7. Argentina: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 8. Argentina: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)
Table 9. Rest of SAM: Aircraft MRO Market, by Component – Revenue and Forecast to 2028 (US$ Billion)
Table 10. Rest of SAM: Aircraft MRO Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Billion)
Table 11. Rest of SAM: Aircraft MRO Market, by End-User – Revenue and Forecast to 2028 (US$ Billion)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM Aircraft MRO Market Segmentation
Figure 2. SAM Aircraft MRO Market Segmentation – By Country
Figure 3. SAM Aircraft MRO Market Overview
Figure 4. SAM Aircraft MRO Market, by Component
Figure 5. SAM Aircraft MRO Market, by Aircraft Type
Figure 6. SAM Aircraft MRO Market, by End-User
Figure 7. SAM Aircraft MRO Market, By Country
Figure 8. Porter’s Five Forces Analysis
Figure 9. SAM Aircraft MRO Market- Ecosystem Analysis
Figure 10. SAM Aircraft MRO Market Impact Analysis of Driver and Restraints
Figure 11. SAM Aircraft MRO Market Revenue Forecast and Analysis (US$ Billion)
Figure 12. SAM Aircraft MRO Market Breakdown, by Component, 2020 and 2028(%)
Figure 13. SAM Engine MRO Market Revenue and Forecast to 2028 (US$ Bn)
Figure 14. SAM Avionics MRO Market Revenue and Forecast to 2028 (US$ Bn)
Figure 15. SAM Airframe MRO Market Revenue and Forecast to 2028 (US$ Bn)
Figure 16. SAM Cabin MRO Market Revenue and Forecast to 2028 (US$ Bn)
Figure 17. SAM Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Bn)
Figure 18. SAM Others Market Revenue and Forecast to 2028 (US$ Bn)
Figure 19. SAM Aircraft MRO Market Breakdown, by Aircraft Type, 2020 and 2028 (%)
Figure 20. SAM Fixed Wing Market Revenue and Forecast to 2028 (US$ Bn)
Figure 21. SAM Rotary Wing Market Revenue and Forecast to 2028 (US$ Bn)
Figure 22. SAM Aircraft MRO Market Breakdown, by End-User, 2020 and 2028(%)
Figure 23. SAM Commercial Market Revenue and Forecast to 2028 (US$ Bn)
Figure 24. SAM Military Market Revenue and Forecast to 2028 (US$ Bn)
Figure 25. SAM: Aircraft MRO Market, by Key Country – Revenue (2020) (USD Billion)
Figure 26. SAM: Aircraft MRO Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. Brazil: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 28. Argentina: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 29. Rest of SAM: Aircraft MRO Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 30. Impact of COVID-19 Pandemic in SAM Country Markets
- AAR
- Barnes Group Inc.
- Collins Aerospace
- Delta TechOps
- GE Aviation
- Lufthansa Technik
- Rolls-Royce plc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM aircraft MRO market.
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- The key findings and recommendations highlight crucial progressive industry trends in SAM aircraft 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 SAM market trends and outlook coupled with the factors driving the aircraft MRO market, as well as those hindering it
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