The report recognizes the following companies as the key players in the Global Commercial and Military Aircraft MRO Market: Airbus Group, HAECO, Honeywell International, Lockheed Martin, ST Aerospace.
Other Prominent Vendors in the market are: Air Works, FL Technics Jet JSC, GMF AeroAsia, Lufthansa Technik.
Commenting on the report, an analyst said, “one major trend in this market is Introduction of Wearable Technology in MRO. Earlier, technicians used to access the documentation of flights on their workstations and it has become difficult for them to fix the problem on the ground.”
According to the report, one key driver of this market is Additive Manufacturing Used in Aircraft Parts. The increasing use of additive manufacturing in the aerospace and defense industry has led to reduced material costs, availability of parts at the time of use, and decrease in labor content. With the use of additive manufacturing, MRO companies can develop spare parts and complete repairs within time.
Further, the report states that one of the major challenges is the higher replacement cost. MRO is influenced by improved technology and increased maintenance intervals of new generation aircraft, particularly in usage of composites and smart electronics. Also, the cost associated with engine and component MRO is high because it requires greater service expertise as well as greater OEM control.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.technavio.com/report/global-commercial-and-military-aircraft-mro-market-2015-2019
Source: ASDReports - Market Research
Date: Aug 10, 2015