Europe Aircraft MRO Market is expected to reach US$ 15.46 billion by 2028

Fixed Wing Aircraft Segment to Dominate Europe Aircraft MRO Market during 2020–2028

According to The Insight Partners market research study on “Europe Aircraft MRO Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Aircraft Type, and End-User” is expected to reach US$ 15.46 billion by 2028 from US$ 12.22 billion in 2021. The market is estimated to grow at a CAGR of 3.4 % from 2021 to 2028. The report provides trends prevailing in the Europe aircraft MRO market along with the drivers and restraints pertaining to the market growth. Growth of digital technology for MRO industry and surging demand for MRO services are the major factor driving the growth of the Europe aircraft MRO market. However, rising share of original equipment manufacturers (OEMs) in the aftermarket hinders the growth of Europe 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.

The Europe aircraft MRO market has been segmented on the basis on component, aircraft type, end-user, and country. Based on component, the market has been segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others. The engine MRO segment dominated the Europe aircraft MRO market in 2020 and is also expected to be fastest growing during forecast period. The market by aircraft type has been bifurcated into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment dominated the Europe aircraft MRO market in 2020 and rotary wing aircraft segment is expected to be fastest growing during forecast period. Further, based on end-user, it has been categorized into commercial and military. The commercial segment dominated the Europe aircraft MRO market in 2020 and military segment is expected to be fastest growing during forecast period.

AAR; Barnes Group Inc.; Collins Aerospace; Delta TechOps; FLTechnics, UAB.; GE Aviation; Lufthansa Technik; Rolls-Royce plc.; and Singapore Technologies Engineering Ltd are among the leading companies in the Europe aircraft MRO market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Sichuan Airlines and Lufthansa Technik AG signed a 5-year agreement for digital fleet solutions through AVIATAR and engine maintenance services for the V2500 and CFM56-5B engines of the Airbus A320 fleet. AVIATAR will support Sichuan Airlines' Airbus A350, A330 and A320 fleets.

The report segments the Europe Aircraft MRO Market as follows:

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