Aircraft maintenance includes integration of various multifaceted activities that usually come under service, maintenance, repair, and overhaul (SMRO) or simply called MRO. These tasks are performed by the OEM or outsourced to an aerospace engineering service provider (ESP).

 

Increasing requirements for proper maintenance and refurbishment of aircraft to maintain optimal aircraft performance and comply with stringent regulatory standards are projected to drive the aviation MRO market outlook. Also, the ongoing technological advancements in the aviation sector coupled with the increasing requirements to address component wear will further expand the Aviation MRO Market demand in the years to come.

 

As air traffic increases, airlines are more likely to maintain their current fleet in optimal condition, just because the cost of purchasing new aircraft is significantly higher than the cost of maintaining current aircraft in obvious. So to procure a new aircraft fleet is considered as the last resort by many of the aviation companies. Several ESPs have been offering technological up-gradation to older aircrafts involving processes to increase operational efficiency. Moreover, many airports have been adopting new systems to comply with the next-generation aircraft, thereby eventually expanding the aviation MRO market size in the upcoming future.

 

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Currently, the Asia-Pacific region is generating the highest revenue for the aviation MRO market led by the extremely busy airports in Singapore and Hong Kong. The increasing presence of low-cost airlines offering flight travels at lower costs has been alluring many first fliers offering new business opportunities which have changed the face of Asian civil aviation to some extent. Along with the rise in air-traffic, the aircraft maintenance services are undoubtedly projected to increase in the years to come, ultimately boosting the Asia-Pacific aviation MRO market share.

 

Furthermore, favoring government policies to boost civil aviation is also expected to play a significant role in supporting regional dominance. Numerous government initiatives have been formulated to encourage airports to support MRO as a strategic activity to ensure aircraft safety. And also the airports are allotted extra chunks of land to meet the space requirement for MRO activities at the airports.

 

For example, the Government of India is working on a variety of initiatives aimed at making the country an MRO hub, specifically citing the great potential of the Asia-Pacific aviation MRO market growth. Besides, several players around the world are establishing new centers in the region to meet the growing demand for aircraft maintenance in the region.