Global Narrowbody Aircraft MRO Market by MRO Type (Airframes and Modification, Components, Engines, and Line Maintenance), by Platform (Military and Commercial), and by Region – Global Forecast to 2023.

Transport has been simplified a lot by the advent of various aircraft technologies. Narrowbody aircraft have impacted the market considerably which has generated massive demand for the maintenance services to ensure the prolonged lifespan of the planes. Aircraft Maintenance, Repair, and Overhaul (MRO) play an integral part in ensuring the longer lifespan of the airplanes. The narrowbody aircraft MRO market has proliferated in various countries significantly and is gaining much prominence by assisting in substantial profits from the associated industries such as regional manufacturers and tier-1 suppliers. Narrowbody aircraft MRO service is all the more necessary as it ensures the safety of the aircraft. The market is benefitting much from a rise in the procurement of such aircrafts, outsourcing, and 3D manufacturing process. Countries are also expanding their aircraft fleet which is directly influencing the growth of the MRO market. The global narrowbody aircraft MRO service is expecting a CAGR of 5% during the review period (2017-2023), asserts Market Research Future (MRFR) in a detailed study.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/1664

However, the high cost incurred during the replacement, or retrofit of older aircraft with the latest technologies can prove to be a market deterrent. Along with it, stringent regulations regarding environmental hazards are adversely affecting the market.

Industry Trend:

Vietnam’s aviation industry has recently included first of its kind Airbus A321neos as a part of Vietnamese carriers. At the same time, VietJet, low-cost carriers have started taking inducting these planes into their portfolio, and Vietnam Airlines is also expecting to induct these planes into their lineup.

The narrowbody aircraft from United Aircraft Corp. (UAC), MC-21 and Comac C919, are undergoing flight tests. These latest inductees, along with the existing ones, are expected to inflate the narrowbody market, and consequently the MRO market.

Segmentation:

The global narrowbody aircraft MRO market can be segmented based on MRO type and platform.

Based on MRO types, the market is segmented into airframe & modification, components, engines, and line maintenance. The engine MRO has a wider market penetration owing to the need for regular maintenance of engines and engine components.

Platform-based segmentation includes military and commercial. Commercial segment is estimated to grow at the highest CAGR during the forecast period.

Regional Analysis:

Region-specific market encompasses North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (LATAM).

Advanced technology, regional player density, and rise in a number of flights have assisted North America to gain the top spot. Furthermore, international long-haul routes are keeping the market reasonably steady.

Europe is proving to be a worthy competitor owing to the presence of primary MRO service provider such as Lufthansa Technik.

Market Dashboard:

The market is witnessing several mergers and acquisitions. Existing sellers are also collaborating to discover new products and developing strategies. For instance, KLM UK Engineering, SAS has recently signed a deal for line maintenance for Boeing 737 and Airbus A320 finally. The same company has also signed a contract with the U.K. based BA CityFlyer and extended their deal to maintain narrowbody aircraft.

The key players in the global narrowbody aircraft MRO market are GE Aviation (U.S.), Honeywell Aerospace (U.S.), Lufthansa Technik (Germany), Pratt & Whitney (U.S.), Rolls-Royce (U.S.), Air Works (India), Jet Maintenance Solutions (Lithuania), GMF AeroAsia (Indonesia), Singapore Technologies Aerospace (Singapore), and others.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/narrowbody-aircraft-mro-market-1664

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.