Study: 2013 World MRO Market Worth $49.2B
The world commercial aircraft maintenance, repair and overhaul (MRO) market will reach a value of $49.2 billion this year, according to recent market research conducted by Visiongain. The commercial aircraft MRO market is forecast by Visiongain to experience growth over the next decade, providing numerous business opportunities.
The finding is a two-edged sword for the maintenance industry in that it will provide MRO facilities ample opportunities for new business but will also draw technicians from the business and general aviation sectors, which are already experiencing a technician shortage.
“Just coming from the Aviation Workforce Development Think Tank in Minneapolis, which was focused on the retiring aviation workforce, I see this forecast as a great economic trend,” Dale Forton, president of the Professional Aviation Maintenance Association, told AIN. “However, it is important to note we’re facing a workforce retirement of around 60 percent over the next twenty years and that is a looming dampener if we don’t successfully address getting new blood into the industry now.”
The World Commercial Aircraft Maintenance, Repair & Overhaul (MRO) Market 2013-2023 study also points out that newer aircraft, which require less maintenance than older aircraft now coming into retirement age, will require MRO providers to invest in new training techniques and new tooling to attain relevant certification. That fact does not bode well for smaller, third-party providers that may not lack the necessary financial resources. Also noted was that the increasing presence of OEMs in the after-sales market is likely to alter the composition of the MRO market.
The $2,739 report contains 145 tables, charts and graphs that add visual analysis of developing trends within the market. It provides forecasts for the period 2013-2023 in terms of value in U.S. dollars as well as for four submarkets: engine maintenance, component maintenance, line maintenance and HMV/Mods.