Aviation Turbine MRO: Introduction
- Aviation turbine MRO refers to routine inspections, modifications, checks, overhauls, and repairs carried out on the aircraft turbine. The maintenance of turbine in the aviation industry is highly regulated in order to ensure safe and correct functioning during flight.
- Aviation turbine MRO plays a vital role in sustaining and extending the lifespan of an aviation turbine. Revamp, repair, and protection of aircraft turbine is the function of aviation turbine MRO.
Key Drivers and Restraints of Aviation Turbine MRO Market
- Rise in number of aging fleet of aircraft in the commercial & military aviation industry is expected to drive the global aviation turbine MRO market
- Advancement in technologies to optimize fuel efficiency and increase in focus of OEM on MRO activities are anticipated to boost the global aviation turbine MRO market during the forecast period. Furthermore, rise in focus on enhancing aircraft safety in the aviation industry is expected to propel the global aviation turbine MRO market.
- Increase in investments in development of aviation infrastructure and launch of new airlines are key factors estimated to boost the demand for aviation turbine MRO during the forecast period. However, presence of long term contracts of aircraft operators with MRO service providers is projected to hamper the market in the near future.
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COVID-19 Impact Analysis
- Governments of several countries across the globe have imposed strict lockdown to limit the spread of the COVID-19 pandemic. Movement of individuals and economic activities related to essential goods and services have come to a halt because of the lockdowns. This has adversely affected the demand for air travel, thereby hampering the demand for aviation turbine MRO.
Commercial Aviation Application Segment Expected to Hold Prominent Share of Global Market
- The global aviation turbine MRO market can be segmented based on application and region
- In terms of application, the global aviation turbine MRO market can be classified into commercial aviation, military aviation, and general aviation. Growth of the commercial aviation segment can be ascribed to the increase in number of air travelers.
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Asia Pacific Expected to Constitute Major Share of Global Aviation Turbine MRO Market
- In terms of region, the global aviation turbine MRO market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- North America is projected to hold vital share of the global market during the forecast period due to the increase in number of aging military aircraft fleet in the region
- The aviation turbine MRO market in Asia Pacific is projected to expand at a rapid pace during the forecast period. The aviation turbine MRO market in the region is driven by increase in passenger traffic. Rapid industrialization & urbanization, increase in per capita income, and strong economic growth are some of the major factors propelling the demand for air travel in Asia Pacific, primarily in developing countries of the region. Furthermore, expansion of MRO network across Asia Pacific is expected to drive the aviation turbine MRO market in the region from 2023 to 2030. InterGlobe Aviation Ltd announced plans to build the second MRO center of 13,000 sq.m at Kempegowda International Airport in Bengaluru, India. This MRO center is anticipated to become operational by the end of 2023.
- Europe is projected to dominate the aviation turbine MRO market during the forecast period. This can be ascribed to the increase in investment in expansion of aviation infrastructure in the region.
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Key Players Operating in Global Market
Leading companies operating in the global aviation turbine MRO market include:
- Barnes Group Inc.
- Hexagon AB
- GE Aviation
- TurbineAero, Inc.