EINPresswire/ -- By aircraft type, the narrow body aircraft segment dominated the southeast Asia air transport MRO market in 2021, in terms of revenue and is expected to lead the market throughout the forecast period. By end-use, the commercial aviation segment incurs the higher southeast Asia air transport MRO industry segment. By organization type, the independent MRO segment is expected to hold majority of the market share during the forecast period. By service type, the engine overhaul segment incurs the higher southeast Asia air transport MRO segment. At present, Singapore is expected to garner the highest revenue in the market during the forecast period, followed by Malaysia, Indonesia, Thailand, Vietnam, and rest of Southeast Asia.

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The Air Transport MRO (Maintenance, Repair, and Operations) sector plays a vital role in ensuring the safe and efficient operation of aircraft in the aviation industry. It encompasses a range of services and activities that are necessary to maintain & repair aircraft, systems, and components throughout their operational lifespan. MRO services cover various aspects, including routine inspections, scheduled maintenance, unscheduled repairs, component replacements, and overall management of aircraft maintenance programs. These services are conducted by specialized MRO companies, both in-house by airlines and outsourced to third-party providers, and adhere to strict regulatory standards and guidelines to ensure compliance with safety regulations.

In addition, surge in air traffic and demand for new aircrafts, rise in investment in the MRO industry by market players, greater penetration in the commercial sector, and increase in maintenance, repair, and operations (MRO) activities accelerate the growth of the southeast Asia air transport MRO market. However, shortage in skilled workforce and lack of efficient supply chain hamper the growth of the southeast Asia air transportation MRO market. Conversely, supportive government policies by the government of the Southeast Asian countries and technological advancement by the market players are expected to provide lucrative opportunities for the expansion of the southeast Asia air transport MRO market.

Furthermore, ST Aerospace and SIA Engineering, two domestic aviation businesses from Singapore, rank among the top MRO firms internationally in terms of both revenues and competences. One of the key businesses in the nation, ST Engineering, is trying to grow its aerospace MRO business both domestically and abroad.

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While pursuing capacity development in nations like the U.S., the corporation has also established a joint venture with Vietnam Singapore Technologies Engineering Aerospace Co. Ltd., a subsidiary of Vietnam Airlines Co. Ltd. The Singaporean government announced a defense budget of approximately $11.56 billion in February 2021, an increase of 12.7% from the defense budget for 2020.

By aircraft type, it is bifurcated into narrow body aircraft, propeller aircraft, rotary aircraft, private jet, and wide body aircraft. In 2021, the narrow body aircraft segment is the dominated segment in the southeast Asia air transport MRO market. The end-use segment is categorized into commercial aviation, business and general aviation, and military. Commercial aviation segment is the dominant segment in 2021. By organization type, the market is classified into airline, independent MRO, and OEM MRO. In 2021, independent MRO is the dominant segment in the southeast Asia air transport MRO market. By service type, the market is categorized into engine overhaul, airframe maintenance, line maintenance, modifications, and components. In 2021, engine overhaul segment captured the highest market share in the market in 2021. Country-wise, the market is analyzed across Singapore, Malaysia, Indonesia, Vietnam, Thailand, and Rest of Southeast Asia.

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Key Findings Of The Study

By aircraft type, the narrow body aircraft segment leads the market during the forecast period.
By end-use, the business and general aviation segment leads the market during the forecast period.
By organization type, the airline segment is expected to grow at a lucrative growth rate during the forecast period (2022-2032).
By service type, the engine overhaul segment leads the market during the forecast period.
Thailand is anticipated to exhibit the highest CAGR during the forecast period.

The key market players in the southeast Asia air transport Maintenance, Repair, and Overhaul (MRO) market are AIROD SDN BHD, Asia Aerotechnics Sdn Bhd, FL Technics, UAB, PT. Dirgantara Indonesia (Persero), PT GMF AeroAsia Tbk. (Garuda Maintenance Facility AeroAsia), PT. Kalimasada Pusaka, Sepang Aircraft Engineering Sdn. Bhd. (SAE), ST Engineering (Singapore Technologies Engineering Ltd), VAECO (Vietnam Airlines Engineering Company Limited), Vietstar Airlines, Lion Air (Batam Aero Technic), and Malaysian Airline Berhad.

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