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New York, May 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Aircraft Maintenance Repair Overhaul Market - Competition Forecast and Opportunities, 2028" -
Europe Aircraft Maintenance Repair Overhaul (MRO) Market is forecast to grow at a steady rate on account of the increasing trend toward digitization in the maintenance industry.
A necessary and inevitable component of every business is the maintenance, repair, and overhaul (MRO) services.A properly maintained aircraft or one of its parts can assist its businesses in avoiding serious threats to its operation.
Therefore, many organizations in the aviation sector concentrate primarily on developing suitable business processes and infrastructure.Airbus, Boeing, and other manufacturing companies are driven to boost production levels and provide maintenance services for their aircraft as a result of the growing demand for air travel in Europe.
There are several factors that are expected to drive Europe aircraft MRO market expansion, including rapid urbanization, rising economies, particularly in emerging nations, as well as a rise in business and tourism travel.Europe is the world's most visited place, accounting for more than 682 million domestic travelers in 2019.
It is anticipated that air travel in Europe will grow in the upcoming years. External factors such as fleet size, aircraft utilization, and air traffic volumes will have a significant impact on the industry. Additionally, it is influenced by large investments in original equipment manufacturer services. As a result, the fleet size of existing aircraft is growing.
The COVID-19 epidemic has caused the economic growth of every nation to slow down.This economic slowdown had a big influence on the aviation industry.
All of the major nations in Europe, Asia, and North America have severely curtailed economic activity as well as the movement of people and products due to the COVID-19 pandemic, thereby restraining the growth of the Europe aircraft MRO industry's growth.
Increasing Demand for Aircraft Maintenance, Repair, and Overhaul Services
The need for airline MRO services is rising along with the aviation industry's recent rapid expansion.The emerging economies in Europe place a strong emphasis on offering MRO services to both commercial and military aircraft manufacturers.
The adoption of aircraft maintenance services is being driven by aviation infrastructure, economic growth, and an increase in passenger volume.Additionally, a growing middle-class population is the primary driver of the increase in air travel, which is raising demand for aircraft MRO services in the Europe region.
Germany and France dominate the region, owing to its established MRO hubs and increasing number of passenger visits, thereby driving the Europe aircraft MRO services across the region.
Advancements in Digital Technology
Generally, maintenance expenses in the aviation sector are higher than fuel expenses.Airlines need to adopt digital technology platforms to track physical problems such as engines and cockpit controls in real-time, which will help them plan maintenance procedures due to the steep increase in maintenance expenses.
This enables them to create a continuous stream of data flowing through various supply chain levels.Data-driven technologies such as data analytics, which aid in tracking aircraft MRO activities in real-time, will also improve the crew and passenger air travel experience.
These technologies easily conduct checks and perform necessary maintenance and repairs on the aircraft. Owing to all these factors, Europe aircraft MRO market is anticipated to grow in upcoming years.
Increasing trend toward Original Equipment Manufacturers' (OEMs) services
OEM manufacturers are considering MRO as a major source of revenue in the aircraft maintenance market.OEMs have experience constructing aircraft fleets and are leveraging this position to generate more income through aftermarket services.
As a result, there will be more delays in service and maintenance due to fewer organizations which can hamper the growth of the aircraft MRO market.
The Europe Aircraft MRO Market is segmented on the basis of aircraft type, component, end-user, and country.Based on aircraft type, the market is segmented into fixed-wing aircraft and rotary-wing aircraft.
On the basis of components, the market is segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others.Based on end-user, the market is divided into commercial, military, aviation.
On the basis of Country wise segmentation in Europe, the market is divided into Germany, Russia, France, Spain, Italy, United Kingdom, Poland, Slovakia, Netherlands, and Norway.
AAR Corp., Barnes Group Inc, GE Aviation, FL Technics UAB., Safran SA, Lufthansa Technik, Delta TechOps, Rolls-Royce plc., Collins Aerospace, and Bombardier Inc. are the key players developing advanced technologies to stay competitive in the market and enhance their product portfolio in the region to increase their customer outreach.
In this report, Europe Aircraft MRO Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
. Europe Aircraft MRO Market, By Aircraft Type:
o Fixed Wing Aircraft
o Rotary Wing Aircraft
. Europe Aircraft MRO Market, By Component:
o Engine MRO
o Avionics MRO
o Airframe MRO
o Cabin MRO
o Landing Gear MRO
. Europe Aircraft MRO Market, By End User:
. Europe Aircraft MRO Market, By Country:
Company Profiles: Detailed analysis of the major companies present in Europe Aircraft MRO Market.
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
. Detailed analysis and profiling of additional market players (up to five).
Read the full report:
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