Market Size of Asia-Pacific Aircraft Engine MRO Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.33 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Aircraft Engine MRO Market Analysis
The Asia Pacific aircraft engine MRO market is anticipated to grow from USD 12.55 billion in 2022 to USD 15.45 billion in 2028, registering a CAGR of 3.33% during the forecast period.
The COVID-19 outbreak impacted the entire aviation industry in Asia-Pacific. Nevertheless, in the present scenario, aircraft operators in the region resumed ordering new aircraft owing to a rebound in travel demand in the commercial and general aviation segments. This will boost aircraft engine MRO providers in the region during the forecast period.
Over the last ten years, there has been a big increase in the number of people flying in the Asia-Pacific region, and new emission rules have made it necessary to buy more new-generation planes. The aging military aircraft fleet in some countries of the Asia-Pacific region may generate significant demand as countries such as China, India, and Japan, among others, plan to extend these aging aircraft's service lives.
Rapid technological advancements in aircraft engine MRO are driving the market's growth. Key players have now started investing significant amounts in R&D to manufacture advanced aircraft engine components using different composites, increasing their operability for various operating environments and making the engines lighter while improving their operational life. Moreover, the region is also expected to be the largest MRO service user in the coming years. A natural corollary of fleet acquisition owing to the various countries of the Asia-Pacific, such as India and China, which are poised to emerge as powerhouses in the coming years, will drive the growth of the market.
Asia-Pacific Aircraft Engine MRO Industry Segmentation
Engine maintenance, repair, and overhaul (MRO) is the process of fixing, servicing or inspecting engines to meet Asia-Pacific safety and airworthiness standards. The study of aircraft engine MRO includes the maintenance, repair, and overhaul (MRO) operations of turbine and piston engine aircraft in the commercial, military, and general aviation sectors in Asia-Pacific. The market also includes component-level maintenance checks on engines.
The Asia-Pacific aircraft engine MRO market is segmented by engine type, application, and country. By engine type, the market is segmented into turbine engines and piston engines. By application, the market is segmented into commercial, military, and general aviation. By country, the market is segmented into China, India, Japan, Singapore, South Korea, and the rest of Asia-Pacific. The market sizing and forecasts have been provided in value (USD billion) for all the above segments.
| Engine Type | |
| Turbine Engine | |
| Piston Engine |
| Application | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
| Country | |
| China | |
| India | |
| Japan | |
| Singapore | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Aircraft Engine MRO Market Size Summary
The Asia-Pacific aircraft engine MRO market is poised for significant growth, driven by a resurgence in travel demand and the need for modernized aircraft fleets. The region has seen a substantial increase in air travel over the past decade, prompting the acquisition of new-generation aircraft to comply with stringent emission regulations. This trend is further bolstered by the aging military aircraft fleets in countries like China, India, and Japan, which are extending the service lives of these aircraft. Technological advancements in MRO services are also contributing to market expansion, with key players investing in research and development to produce advanced engine components that enhance operability and longevity. The turbine engine segment remains dominant, supported by rising air traffic, increased aircraft deliveries, and a growing military aircraft presence.
China leads the market in the Asia-Pacific region, with substantial investments in aviation infrastructure and modernization programs. The country has emerged as the largest aviation market by passenger capacity, with significant growth in air travel and airline fleet upgrades. Collaborative efforts, such as joint ventures and new MRO facilities, are enhancing the region's capabilities in engine maintenance and repair. Prominent industry players like Safran SA, General Electric Company, and Rolls-Royce plc are actively expanding their presence through strategic partnerships and facility expansions. These developments, coupled with the region's competitive landscape, are driving the growth of the aircraft engine MRO market, positioning Asia-Pacific as a key player in the global aviation industry.
Asia-Pacific Aircraft Engine MRO Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Engine Type
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2.1.1 Turbine Engine
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2.1.2 Piston Engine
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2.2 Application
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2.2.1 Commercial Aviation
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2.2.2 Military Aviation
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2.2.3 General Aviation
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2.3 Country
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 Singapore
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2.3.5 South Korea
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Aircraft Engine MRO Market Size FAQs
What is the current Asia-Pacific Aircraft Engine MRO Market size?
The Asia-Pacific Aircraft Engine MRO Market is projected to register a CAGR of 3.33% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Aircraft Engine MRO Market?
Safran SA, General Electric Company, Rolls Royce plc, GMF AeroAsia and HAECO Group are the major companies operating in the Asia-Pacific Aircraft Engine MRO Market.
