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North American Aerospace MRO Market Analysis | 2024-2032
North American Aerospace MRO Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2024-2032
The North American Aerospace MRO Market is projected to grow at a significant CAGR of 1.6% during the forecast period 2024–2032, reaching US$ 65.3 billion by 2032.
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Maintenance, Repair, and Overhaul (MRO) operations are crucial for maintaining the safety and efficiency of aircraft operations. These activities encompass routine inspections, preventive maintenance, troubleshooting, component repair, and major overhauls, all intending to ensure airworthiness and safety standards are upheld.
Specialized organizations conduct these services, playing an essential role in maintaining the requisite safety standards for aircraft operations.
A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:
The COVID-19 pandemic's sudden onset had a profound impact on the entire aviation industry, affecting both production and services. This disruption led to a significant decrease in air travel demand, resulting in grounded fleets and reduced MRO activities. The industry faced unprecedented challenges as it grappled with navigating through these turbulent times.
Despite its status as a substantial market, the aerospace MRO business was inevitably affected by the repercussions of the COVID-19 pandemic. However, the North American market notably demonstrated resilience, experiencing a robust recovery from the pandemic's effects.
By the year 2022, the region's civil aviation business had rebounded significantly, returning to profitability. Furthermore, an incessant shift to air travel and rising geopolitical tensions are likely to give impetus to the demand for MRO activities.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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Aircraft-Type Analysis |
Commercial Aircraft, Turboprops, Regional Aircraft, Military Aircraft, and Helicopters |
Military aircraft are expected to be the demand generator for MRO in North America, whereas commercial aircraft are likely to grow at the fastest rate in the coming years. |
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MRO-Type Analysis |
Airframe MRO, Engine MRO, Component MRO, and Line MRO |
Engine MRO is anticipated to contribute the largest share of the North American MRO spending. |
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Country Analysis |
The USA, Canada, and Mexico |
The USA is expected to maintain its reign over the forecast period, whereas Mexico is likely to grow at the fastest rate. |
"Military aircraft are expected to remain dominant whereas commercial aircraft will be the fastest-growing aircraft type in the market during the forecast period".
The North American aerospace MRO market is segmented into commercial aircraft, turboprops, regional aircraft, military aircraft, and helicopters. Military aircraft are expected to remain dominant whereas commercial aircraft will be the fastest-growing aircraft type in the market during the forecast period.
North America's military aircraft fleet is the world's largest, with 14,096 aircraft across the Army, Navy, and Air Force. In addition to that, governments allocate substantial budgets for defense operations in North America. As a result, there is a consistent demand for maintenance, repair, and overhaul services for military aircraft to ensure operational readiness and safety.
The fastest growth for the MRO needs of commercial aircraft is primarily due to the expanding commercial aircraft fleet, increasing domestic and international air travel demand, growing aging aircraft fleet size, and investment in new aircraft.
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"Engine MRO is expected to remain the dominant and fastest-growing MRO type in the market during the forecast period".
The market is segmented into airframe MRO, engine MRO, component MRO, and line MRO. Engine MRO is expected to remain the dominant and fastest-growing MRO type in the market during the forecast period. The demand for engine MRO is propelled during the forecast period by the concurrent development of new engine technologies, fleet expansion initiatives, and the implementation of stringent safety regulations.
In addition to that, it is projected that the North American engine fleet will increase from 19,300 active engines in 2023 to 22,200 active engines in 2032. This will further strengthen the demand for engine MRO during the forecast period.
"The USA is expected to maintain its reign over the forecast period, whereas Mexico is likely to grow at the fastest rate".
In terms of countries, the USA is expected to remain the largest market for North American aerospace MRO during the forecast period. The USA's dominant position in the aviation industry is significantly bolstered by several key factors, including its expansive fleet size, robust aviation infrastructure, extensive network of airports, well-established maintenance facilities, and highly efficient logistics infrastructure.
In addition to that, the presence of a huge number of MRO providers and airlines in the country is expected to fuel the market during the forecast period. Mexico, particularly driven by Growing investment projects by multinational aerospace companies, is expected to grow at the fastest rate during the forecast period.
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The market is highly fragmented with the presence of over 500 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the North American aerospace MRO market. Some of the major players are providing a complete range of services including engine and airframe.
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at [email protected]
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The North American Aerospace MRO Market is segmented into the following categories:
By Aircraft Type
By MRO Type
By Country
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
The North American aerospace MRO market is estimated to grow at a CAGR of 1.6% by 2032, driven by recovery in air passenger traffic, rising aircraft fleet size, rising military expenditure, and aging aircraft fleet size.
The forecasted value of the North American aerospace MRO market is US$ 65.3 billion in 2032.
Engine MRO is expected to be dominant in the market in the coming years due to a confluence of factors, including the rise in air traffic, aging aircraft fleets, advancements in modern aircraft engine technologies, rigorous regulatory standards, and aftermarket support provided by OEMs.
The USA is estimated to remain dominant in the North American aerospace MRO market in the foreseeable future. The country is the largest aerospace market in the world for both, commercial and military categories and is home to several major aircraft manufacturers as well as leading MRO providers.
Mexico is estimated to remain the fastest-growing market for North American aerospace MRO in the foreseeable future driven by increasing national and domestic air travel in the country. In addition to that, the growth of the aerospace industry in the country and orders for new aircraft to be manufactured by Airbus, Boeing, and Eviation are anticipated to drive the market during the forecast period.
AAR Corp., Ametek MRO, Airbus, Aviation Technical Services, Inc., The Boeing Company, Delta TechOps (Delta Air Lines, Inc.), General Electric Company (GE), Honeywell Aerospace, RTX Corporation, and Safran Group are the leading players in the North American aerospace MRO market.
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