Air Transport MRO Market to Grow at a CAGR of 8.6% During the Forecast Period 2020-2025 - Reported Times

Sep 4, 2020 5:00 PM ET

iCrowd Newswire – Sep 4, 2020

The Global Market for Air Transport MRO systems is forecast to reach $9.2 billion by 2025, growing at a CAGR of 8.6% from 2020 to 2025. The market growth is attributed to the factors such as growing air travelling passengers, technological advancements, government rules and regulations and others boosts the market growth.

By Type- Segment Analysis

Engine segment held the highest market share of air transport MRO systems in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. Growing aviation activities in both developing and devolving countries is a major factor projected to raise demand for MRO aircraft fuel. In recent years, many new MRO service centres have been established in different countries, which in effect raises the exposure of national companies to the global MRO sector for aircraft engines. Global contacts between different countries have also expanded the deployment of freight aircraft, and adequate aircraft repairs or tests must be organized to ensure standard of service and healthy air travelForeign exchange between various countries has also increased freight aircraft deployment, and it is necessary to coordinate appropriate aircraft maintenance or checks to ensure quality in performance and secure air travel . Such trends are estimated to boost development in the global MRO aircraft engine market. Furthermore, growing advancements in the aerospace sector and increasing demand for next-generation engines are another additional factor projected to fuel the market growth. In addition, straight-forward policy restrictions on aircraft and the need for regular servicing of engine parts and engines is another aspect driving the development of