(MENAFN- GlobeNewsWire - Nasdaq) New York, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East and Africa Aircraft MRO Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component, Aircraft Type, and End-User" -
The deployment of various retrofitting technologies, which refers to the implementation of newer technologies on older aircraft fleet, help increase passenger comfort and safety, and also facilitates the airlines in maintaining their older fleet. The continuous advancements in the aircraft technologies are resulting in up gradation of MRO capabilities. This is due to the fact that the MRO service providers are constantly seeking up gradation and procurement of newer technologies in order to service the newer aircrafts as well as retrofit the upgraded technologies on the older aircraft fleets. The commercial airlines in the current scenario are holding on to their older aircraft fleet owing to the drop in fuel prices. This factor is compelling the airlines to opt for MRO activities frequently, which is facilitating the MRO service providers to offer the airlines to retrofit the aircraft fleet with newer technologies. The retrofitting trend is soaring among the MRO service providers, which is driving the growth of MEA aircraft MRO market. Similar trend is also anticipated to continue over the years, and thus, integration of advanced and modern technologies on older aircraft fleet is expected to change the MEA aircraft MRO market landscape as well as face of aviation industry. One of the strongest reasons which is driving the growth of adoption of innovative technologies in the MEA aircraft MRO market is the growing demand for real-time data analytics. Airline companies around the MEA region are introducing new products to integrate with their aircraft fleet to enhance the fuel efficiency and more passenger safety. Significant investments by several companies in retrofitting new features would help the MEA aircraft MRO market to grow during the forecast period. The amalgamation of advanced technologies, as mentioned above on the existing aircraft, offers an opportunity for stakeholders operating in MEA aircraft MRO market to benefit from such technologies.
Countries in MEA, especially South Africa, are highly affected due to the COVID-19 outbreak.The MEA aircraft MRO market is majorly affected by the disruption in the supply chain.
Owing to the closure of borders of countries, the supply chain of several components and parts has been disturbed.The demand for aircraft MRO services has weakened over the past couple of months in the MEA countries.
In addition, discontinuation of wide-body jets and narrow-body jets, which were prime customers of aftermarket products and services, has affected the market growth.For instance, in March 2021, Etihad Airways announced the retirement of their 10 Airbus A380 superjumbos under the strategic decision taken due to the COVID-19 crisis.
However, there was some positivity in the regional market due to the presence of prominent airline operators such as the Emirates Group and the Etihad Airways. In January 2021, the Emirates Group started providing COVID-19 vaccination to its front-line employees such as pilots and cabin crew. Furthermore, the development of the new airports in the region is also expected to provide growth opportunities to the market in the coming years.
Based on aircraft type, the MEA aircraft MRO market for the rotary wing aircraft segment is expected to grow fastest during the forecast period.Rotary-wing aircraft is witnessing a growing demand from the commercial aviation sector.
These aircraft find applications in travel agencies, police department, business purpose, as well as air ambulance.Increasing demand for emergency medical services helicopters, lightweight helicopters, and military helicopters fuels the demand for rotary-wing aircraft, which, in turn, is supporting the growth of the aircraft MRO services market.
Also, the procurement of rotary-wing aircraft in defense and commercial aviation is continuously rising in the current scenario.The growing fleet size of rotary-wing aircraft would demand regular repair and maintenance of new aircraft for efficient performance.
As a result, the demand for aircraft MRO services is expected to surge during forecast period.
The overall MEA aircraft MRO market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the MEA aircraft MRO market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the MEA aircraft MRO market. AAR, Collins Aerospace, Delta TechOps, GE Aviation, Lufthansa Technik, Rolls-Royce plc., Singapore Technologies Engineering Ltd, and Turkish Technic Inc. are among the players operating in the market.
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