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Aircraft maintenance, repair and overhaul market by segment 2020-2030

Globally, the aircraft engine maintenance, repair and overhaul market is expected to reach 64.2 billion U.S. dollars by 2030.

Aviation industry and COVID-19

Compared to other industries, the aviation industry is hit the worst by the coronavirus (COVID-19) outbreak. This is due to containment policies against COVID-19 pandemic that led to the shutdown of entire global passenger airline operation. In comparison, cargo aviation was hit not that much, only relative to the decline in global industrial production. In 2020, air passenger revenue loss due to coronavirus outbreak is expected to reach roughly 314 billion U.S. dollars. The worst time for the airlines was during March and April 2020 because of intense attention given to the COVID-19 spread containment measures. It appears that the global aviation market starts to recover slowly. As of June 15, 2020, the global airline weekly flight frequency is improving, although still far away from being closer to previous levels. Yet, this aviation crisis exerted a strong spill-over to the aircraft MRO market because the MRO market is dependent on the functioning of the airline industry.

Aircraft MRO market post-COVID

Post-COVID, the size of the West European MRO market is estimated to be around 8.3 billion U.S. dollars for 2020. Prior to the occurrence of coronavirus outbreak, for 2020 the same market size was estimated at around 20 billion U.S. dollars. Similarly, the aircraft engine MRO market experiences a recessionary gap in 2020 with the market size this year forecasted be around 20 billion U.S. dollars, at least twice smaller than original estimation for 2020 pre-COVID. Despite all, the aviation industry is expected to recover soon. By 2030 the aviation market’s estimated size will be around 64 billion U.S. dollars. It is yet unclear how long will the markets require to recover in post-COVID world. Coronavirus pandemic brought a deep meta-uncertainty to the world economy and its impact could reshape the future functioning of our pre-COVID economic systems.

Projected global aircraft MRO market in 2020 and 2030, by segment and scenario

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Sources

Release date

April 2020

Region

Worldwide

Survey time period

2020

Supplementary notes

All figures are projections.
* Figures for 2030 can be accessed on page 5.

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Statistics on "Aircraft MRO market worldwide"

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