LONDON, July 25, 2011 /PRNewswire/ –The Commercial Aircraft Maintenance, Repair and Overhaul (MRO) Market 2011-2021, is Visiongain’s latest aviation report providing a comprehensive view of the global commercial aircraft MRO market. In 2011, with 21,494 commercial aircraft forecast to be in service, the commercial aircraft MRO market is forecast by Visiongain to reach $50.2bn. The global fleet of commercial aircraft is expected to reach nearly 30,000 units by 2021, increasing the global demand for commercial aircraft MRO.
As the global economy begins to recover, prospects for strong growth within the commercial aircraft MRO market is forecast from 2011 and beyond. Strong medium to long-term growth for the commercial MRO industry will be driven by the aviation industry emerging from the financial crisis of 2009 with airlines and operators keen to clear the backlog of deferred maintenance of aircraft to maximise fleet potential. In addition, smaller airlines and operators with ageing fleets who lack capital to purchase new aircraft deliveries will increasingly look to fleet maintenance.
A driving force behind air travel growth has been the industrialisation of countries such as India and China. As these highly populated countries continue to develop and invest in the aviation industry, combined with the growing global presence of the aviation industry in the Middle East, strong, sustained growth is forecast within the global commercial aircraft MRO market as more and more aircraft take to the skies.
The Commercial Aircraft Maintenance, Repair and Overhaul (MRO) Market 2011-2021 report examines the scope of growth available in the commercial aircraft MRO industry given the rapid emergence of low-cost carriers, the changing demographic of the world population, developing infrastructure, emerging economies and rising GDPs.
The commercial aircraft engine MRO market is the largest submarket of the global commercial aircraft MRO market. Strong growth rates for this submarket are forecast based on the complexity and expense of the new engines, less reliance on labour rates than other submarkets, and the soaring growth in air travel which is providing opportunities for each submarket of the global commercial aircraft MRO industry.
As the aviation industry adapts to soaring demand for air travel, a wealth of opportunities for expansion of the commercial aircraft MRO market looks certain. In emerging and mature markets, upgrades and expansions of fleets to accommodate soaring demand for air travel will provide new sources of demand for MRO activity. In Asia Pacific and the Middle East, ambitious construction plans for new international and domestic airports will provide a wealth of new opportunities for commercial aircraft MRO providers in these new vibrant commercial aviation hubs. A full account of these developments is available within this report.
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