US Aircraft Maintenance Repair and Overhaul Market

• Increasing demand for air transport drives market growth

One of the primary factors driving the growth of the Aircraft Maintenance Repair and Overhaul Market CAGR is the increasing demand for air transport. The aircraft MRO industry is primarily driven by increased demand for air transportation, both for passengers and cargo. As economies grow and disposable incomes rise, air travel becomes more accessible and affordable to a larger range of people. Also, emerging countries are rapidly urbanizing and becoming more connected, increasing demand for air travel. Airlines expand their fleets and schedule more flights to meet increased demand.

As the number of operational aircraft grows, so does the demand for maintenance, repair, and overhaul services. MRO firms are critical to ensuring the safety and airworthiness of these rising fleets.

Airlines must comply to severe regulatory requirements established by aviation authorities in order to continue operations. Routine inspections, maintenance checks, and repairs are frequently required to ensure an aircraft's airworthiness. Airlines can meet these criteria with the support of MRO services, which also ensure that their aircraft are in top shape and safe to travel. The demand for air travel is increasing, resulting in more aircraft use and more frequent maintenance cycles. Airlines require MRO services to undertake routine inspections, deal with wear and tear, and handle any problems that may arise during operation.

Service providers help to improve the overall safety, performance, and availability of aircraft in the continually evolving aviation industry by providing trustworthy and effective MRO solutions. Moreover, emerging technology and nondestructive testing for inspection and repair have recently become popular, as major service providers around the world want more technologically advanced testing. Non-Destructive Testing (NDT) is an effective approach for detecting tiny flaws or damage in aerospace materials or components over their operating life without jeopardizing the item's integrity.

As a result, given the high testing benefits of cutting-edge technology, the market is predicted to expand significantly throughout the forecast period, driving the market revenue.

The Global United States Aircraft Maintenance Repair and Overhaul Market Industry experiences a growing demand for maintenance services, driven by the increasing number of aircraft in operation. As of 2024, the market is valued at approximately 30.5 USD Billion, reflecting the need for regular maintenance to ensure safety and compliance with regulatory standards. The rise in air travel and the expansion of commercial airlines necessitate robust maintenance programs, which are projected to sustain this growth. By 2035, the market is expected to reach 45.2 USD Billion, indicating a compound annual growth rate of 3.64% from 2025 to 2035.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Aircraft Maintenance Repair and Overhaul Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Aircraft Maintenance Repair and Overhaul industry must offer cost-effective items.

Major players in the Aircraft Maintenance Repair and Overhaul Market are attempting to increase market demand by investing in research and development operations, including Aar Corporation, Delta TechOps (delta Corporation ltd), Mexicana MRO Services, TAECO, LufthansaTechnik, Ameco, Turkish Technik AG, United Technologies Corporation, Aeroman, GAMECO, Air France Industries, SR Technics, Sabena Technics, Aviation Technical Service, Singapore Technologies Aerospace Ltd

Recent Development News for US Aircraft Maintenance Repair and Overhaul Market

In the year 2023, AAR CORP., which is primarily engaged in the provision of aviation services to commercial and governmental operators, MROs and OEMs, shall pay Triumph Product Support an amount of $725 Million on a cash basis. AAR also indicated that it would probably receive an estimated tax benefit of about $80 million in the course of the transaction. With the estimated tax benefits included, the effective purchase price multiple is expected to stand at 11.7x FY2024 EBITDA and 9.9x, with an additional $10 million in assumed run-rate synergies.

Triumph Product Support is one of the largest companies that provide MRO of various aircraft parts used in commercial and military aviation throughout the world, as well as MRO for both aircraft and engines. The company provides MRO services for structural components and engine and airframe accessories, as well as for interior and wheel refurbishment.

As far as the most recent contracts are concerned, in November 2021, Safran Landing Systems entered into a five-year agreement with Chinese airline China Eastern for the repair and maintenance of landing gears fitted on thirty-one Airbus A330 aircraft. These operations are to be carried out in the workshop owned by Safran, located in Singapore.

In October 2021, AAR obtained approval from flydubai, a leading provider of MRO services for commercial and government operators, to replenish its power-by-the-hour (PBH) component pool and support Boeing 737NG aircraft repairs. The new five-year contract continues cooperation that began in 2016 to offer comprehensive rotating component support for Flydubai's 737NG fleet.

In December 2021, Frontier Airlines contracted with Lufthansa Technik for the engineering repair, overhaul of 21 pieces of CFM56-5B series thrust engines, and provision of Mobile Engine Services. Lufthansa Technik will also perform mobile engine services on 112 of Frontier Airlines' Airbus A320 family within the next five years. All engine reconstruction is to be done in Hamburg, while only the core engine repair will be done at the company's plant located in Tulsa, Oklahoma.