The market for aircraft MRO (maintenance, repair, and overhaul) pertains to services that include the inspection, rebuilding, and alteration of aircrafts, as well as the supply of spare parts, accessories, raw materials and other consumables for aircraft manufacturing. With the global aircraft fleet projected to reach over 39,0000 by 2030, the global aircraft MRO is estimated to reach a 10-year consolidated market size value of over 130 billion U.S. dollars.
In aviation, MRO typically involves routine checks and inspections to satisfy airworthiness requirements. The global market comprise of individual segments for aircraft engines, components, line, airframe and modifications. The largest of these segments is the engine segment. It accounted for around 48 percent of the global civil air transport MRO market in 2020 and is projected to reach 64.2 billion U.S. dollars in size by 2030. In that same year, global aircraft line maintenance is expected to reach a market size of around 19.1 billion U.S. dollars. Some of the major commercial aircraft engine manufacturers in the world include: General Electric Aviation, CFM International, as well as Rolls Royce. In 2017, General Electric generated revenue of about 30.5 billion U.S. dollars from the aviation sector alone.
The International Civil Aviation Organization (ICAO) sets the global regulatory standards that are implemented by either a national or regional regulatory body such as the Federal Aviation Administration (FAA) in the United States.
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