Narrowbody Aircraft MRO Market 2019: Global Industry Analysis and Opportunity Assessment, Forecast to 2023

75
Business

Summary

Market Research Future added New Report Named "Global Narrowbody Aircraft MRO Market Research Report- Forecast 2023" to its Database

Press Release

Air travel in developing countries is growing, thus, increasing the demand for aircraft maintenance services. Aircraft Maintenance, Repair, Overhaul (MRO) is crucial for sustaining the lifespan of narrowbody aircraft and assuring the crashworthiness of an aircraft. It consists of maintenances, overhauls, routine checks, repairs, and modifications disbursed on narrowbody aircraft and their elements. Many new maintenance and service centers have been set up in numerous countries in recent years. This increases the participation of regional manufacturers and tier-1 suppliers in the field of aircraft MRO. Moreover, the growing international trade between countries has increased the travel frequencies of cargo planes. Thus, it is essential to conduct timely checks or repairs of airplanes to ensure efficient performance and safe air travel. However, there are some shortcomings in the global narrowbody aircraft MRO market, such as high cost of repair and replacement, retrofit of older aircraft with upgraded systems, and environmental hazards.

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

The global narrowbody aircraft MRO market comprises of the maintenance and repair of narrowbody aircraft components, engines, and air fins. Moreover, the aerospace industries are early adopters of emerging market trends in maintenance service, which has led to the development of aircraft MRO system. The rise in popularity of radio-frequency identification (RFID) and integration of portable devices for the effective turnaround is estimated to drive the market during the forecast period.

Although the narrowbody aircraft has a lesser capacity than the wide-body aircraft, they are larger in number. Some major narrowbody aircraft are Airbus A318, A319, A320, and A321; the Boeing B727s, and B737s. These planes fly over short routes, and are, therefore suited to cater to budget passengers. As of 2016, there have been over 15,000 narrow-body planes, across the world, which might get replaced by approximately 12,000 such planes by 2035. At the same time, there has been an increase in the number of low-cost carriers in the recent years that have propelled the market for narrow-body planes, globally. Therefore, there have been some developments in the aircraft MRO market for narrow-body planes, in the recent years.

The factors that are responsible for the growth of the global narrowbody aircraft MRO market are increased procurement of narrowbody aircraft, outsourcing of MRO activities, and usage of 3D manufacturing in aircraft components. Other key drivers expected to contribute towards the growth of narrowbody market is increased focus of OEMs on aircraft MRO service and rapid aircraft fleet expansion. 

Key Players

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), and Singapore Technologies Aerospace (Singapore).

Press Release Available @ https://www.marketresearchfuture.com/press-release/global-narrowbody-aircraft-mro-market