The report recognizes the following companies as the key players in the Global Narrowbody Aircraft MRO Market: GE Aviation, Honeywell Aerospace, Lufthansa Technik, Pratt & Whitney and Rolls Royce Holdings
The other prominent vendors are: Air Works, FL Technics Jet JSC, GMF AeroAsia, HAECO and ST Aerospace
Commenting on the report, an analyst said: “MRO operations account for 10%-15% of an airline’s total operating costs. While aircraft undergo scheduled maintenance services, these can become delayed due to non-availability of the spare parts required. Thus, the use of lean management techniques in operations can lead to sustainable performance improvements. Lean MRO activities eliminate unnecessary tasks from processes and increase supply chain effectiveness. Increased focus on lean operations will lead to significant savings in hangar or workspace reduction, labor productivity, increased capacity, defect reduction, and on-time delivery improvements.”
According to the report, by 2032, 10,400 new planes will replace existing aircraft, doubling the worldwide fleet to approximately 36,500 aircraft. Airbus delivered 500 narrow-body A320 aircraft in 2013. It has a total of 3,904 orders for its new-generation A320neo aircraft, to be delivered to the airlines across the world during the forecast period. With higher demand for aircraft, the global market for MRO will increase, as well.
Further, the report states that as higher investment is required to offer new MRO services, market growth may suffer.
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.
Source: ASDReports - Market Research
Date: Aug 14, 2015