U.S. Aerospace Components MRO Market Size, Share & Trends Report

U.S. Aerospace Components MRO Market Size, Share & Trends Analysis Report By End Use (121 Operators, Military), By Supplier (Independent, Third Party), By Product (Ice & Rain Protection, Landing Gear), And Segment Forecasts, 2020 - 2027

  • Published Date: Jul, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-869-5
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 145

Report Overview

The U.S. aerospace components MRO market size was estimated at USD 3.9 billion in 2019 and is expected to register a compound annual growth rate (CAGR) of 1.6 % from 2020 to 2027. Increasing air traffic on account of improved standards of living and increased spending capacity are expected to drive the market growth over the forecast period.

U.S. aerospace components MRO market size

The rising number of airlines on account of the increasing number of passengers opting for air travel is projected to propel the demand for timely repair, maintenance, and overhaul facilities. In addition, the relaxation of foreign ownership rules for airlines and their subsidiaries is encouraging airlines to outsource maintenance activities to ensure smooth aircraft functioning.

The market is expected to exhibit high growth on account of the increasing number of passengers flying per year due to the affordable ticket prices, frequency of flights, and route availability. This is expected to increase the need for MRO services driving the market growth.

MRO activities provide a variety of critical services, including components, engine, base, and line maintenance. Airlines, aircraft OEMs, repair shops, and others are increasing their capabilities to expand their geographic presence across the country to cater to the aerospace, government, and military aviation industries, which is likely to fuel the market growth.

The latest advancements in technology and supply chain management and its optimization are addressed by the integrated MRO providers. This is projected to benefit the market. In addition, increased focus on process optimization is projected to further boost the industry growth.

The continuous, robust functioning of aircraft is largely dependent on its maintenance, repair, and overhaul. Thus, airlines, military aviation, and government & commercial aviation industries conduct timely maintenance of aircraft. This will support market growth over the forecast period.

Product Insights

Landing gear segment led the market and accounted for more than 18% of the global revenue share in 2019. Landing gear components are exposed to stress and pressure, thus require frequent maintenance and repair services. In addition, the components are inspected, cleaned, and lubricated at timely intervals to identify cracks, wear, corrosion, and breaks.

The aerospace ice & rain protection system enables unrestricted operations during heavy rain and icing conditions. It protects the critical areas of an aircraft including hot air, icing, and electrical heating. These components get damaged due to the formation of ice, resulting in an imbalance. Thus, timely MRO services are required to ensure the smooth functioning of aircraft.

Maintenance service of aircraft air conditioning systems is performed by approved air conditioning service stations. Frequent repair and maintenance services are carried out for air conditioning components to avoid system failure. This is projected to benefit the segment growth over the forecast period.

Navigation system plays a major role in the civil and military aviation to get reliable information related to the direction, actual position, distance, and safe landing. The flight inspection organizations regularly calibrate the navigation systems to ensure the smooth functioning of the aircraft, thereby propelling the segment growth.

Supplier Insights

Independent suppliers segment led the market and accounted for more than 38% of the overall share in 2019. These suppliers cater to a variety of clientele ranging from large airline operators to military aircraft operators. Expansion of the independent suppliers across the region is likely to propel the segment growth over the forecast period.

Factors, such as offering lowest-cost MRO services owing to the superior and low overhead costs are projected to benefit the independent suppliers in gaining a higher customer base. In addition, these operators usually cater to the needs of domestic, regional, and foreign airlines, which is likely to further fuel the segment growth.

Third-party operators segment is estimated to register the fastest CAGR from 2020 to 2027. These operators provide aircraft maintenance, repair, and overhaul services at competitive prices owing to their well-trained manpower, large spare parts inventory, and economies of scale. In addition, these operators provide such services to the U.S. military and other foreign military forces. The aforementioned factors are projected to augment segment growth.

Major OEM players present in the market provide essential spares and components that are required in aircraft MRO operations. Furthermore, they offer replacement and refurbishment services for old parts to reduce the overall costs associated with MRO activities. This is anticipated to augment market growth.

End-use Insights

121 operators end-use segment led the market and accounted for over 76% of the global revenue share in 2019. The Federal Aviation Administration (FAA) has formulated a comprehensive set of rules under Federal Aviation Regulations to govern all the civil aviation activities within the U.S. FAA under its Part 121 regulations grants the authority to operate scheduled air service.

The air carriers authorized to operate under Part 121 certificate generally consist of regional airline operators, large airlines, and air cargo operators. In addition, 121 operators, operate their fully owned in-house MRO facilities to maintain better control on the repair costs and turnaround time. Moreover, these players also provide MRO services to other airline operators.

U.S. aerospace components MRO market share

The Part 135 aircraft operators are compulsorily required to establish a detailed maintenance program including a mandatory 100-hour inspection for their charter planes. Under this regulation, aircraft operators must inspect aircraft every 100 hours and ensure the safety and integrity of private aircraft. This is likely to benefit market growth.

The Department of Homeland Security and the Department of State is heavily reliant on a large number of U.S. government contractors to maintain, repair, and overhaul their aircraft fleet and keep them in airworthy condition. The stringent regulations are likely to promote the growth of the market over the forecast period.

Key Companies & Market Share Insights

The market is characterized by the presence of several repairs or specialty service providers offering support for various component MRO activities ranging from part maintenance to plating, machining, coating brazing, and inspection. These services are offered at competitive prices on account of the presence of numerous service providers operating in the U.S. market.

Players, such as AAR Corporation, enter long-term contracts with aerospace companies to ensure a dominant position and gain a competitive edge. In addition, companies offer specialized repair, maintenance, and overhaul services to gain a competitive advantage over the other industry participants. Some prominent players in U.S. aerospace components MRO market include:

  • AAR Corporation

  • Avionics Specialist, Inc.

  • Condor Aircraft Accessories

  • Consolidated Aircraft Supply Co., Inc.

  • Duncan Aviation Inc.

  • Fieldtech Avionics & Instruments, Inc.

  • Kalitta Charters LLC

  • Pacific Southwest Instruments

  • Precision Aviation Group

  • Southwind Aviation

  • The ZEE Company, Inc.

U.S. Aerospace Components MRO Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 3.8 Billion

Revenue forecast in 2027

USD 4.4 Billion

Growth Rate

CAGR of 1.6% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, supplier, end-use

Country scope

The U.S.

Key companies profiled

AAR Corporation; Avionics Specialist, Inc.; Condor Aircraft Accessories; Consolidated Aircraft Supply Co., Inc.; Duncan Aviation, Inc.; Fieldtech Avionics & Instruments, Inc.; Kalitta Charters LLC; Pacific Southwest Instruments; Precision Aviation Group; Southwind Aviation; The ZEE Company, Inc.

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Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the U.S. aerospace components MRO market on the basis of product, supplier, and end use:

  • Product Outlook (Revenue, USD Million; 2016 - 2027)

    • Air Conditioning

    • Auto Flight

    • Communications

    • Electrical Power

    • Equipment

    • Flight Controls

    • Fuel

    • Hydraulic Power

    • Ice & Rain Protection

    • Indicating/Recording System

    • Landing Gear

    • Lights

    • Navigation

    • Pneumatic

    • Electrical

    • Propellers/ Propulsors

    • Engine Fuel & Controls

    • Engine Controls

    • Engine Indicating,

    • Engine Oil

    • Others

  • Supplier Outlook (Revenue, USD Million; 2016 - 2027)

    • OEMs

    • Third-Party

    • Operator

    • Independent

  • End-use Outlook (Revenue, USD Million; 2016 - 2027)

    • 121 Operators

    • 135 Operators

    • Military

    • Homeland Security & State Department

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