Global Business Jet MRO Market Overview
Introduction:
Jet Aviation has a worldwide network of MRO Services facilities throughout Europe, Middle East, Asia and the Americas. With over four decades of experience in providing comprehensive MRO services, Jet Aviation has earned an excellent reputation for delivering the highest quality service while meeting the most stringent industry safety standards. In addition to MRO Services (maintenance, repair, and overhaul services), Jet Aviation offers aircraft management and charter services, FBO and ground handling services, and completions and refurbishment services.Business Jet MRO Market accounted for US$ 3.6 billion in 2019 and is projected to register a moderate CAGR of 4.50% over the forecast period.
Drivers and Restraints:
The major factor driving the business jet MRO market is the increasing number of high net worth individuals, ageing fleet size and upcoming new aircraft programs. Inventory for sale, which is a key business measure for aircraft sales, has been declining steadily for the business jets for the past 10 years. This means that the market for used aircraft is growing. In most cases, the new customers for the used aircraft would like to customize the cabin, based on their preferences. This may also generate demand for the retrofits of the cabins. Additionally, engines and propulsion systems are serviced before handing the aircraft to the customers. Cockpit upgrades are projected to be driven during the forecast period. With many new models of business jets entering service and with the aftermarket activity of business jets strengthening, refurbishment providers are experiencing strong demand for their services. Moreover, customers, these days are preferring to change their interiors, with attractive materials, furnishings, and colours, and other custom touches to make their aircraft cabins unique. This trend is also driving the global market
Segmentation:
The business jet MRO market is segmented based on MRO type and region.
Based on MRO type, the business jet MRO market is segmented into the engine MRO, components MRO, interior MRO, airframe MRO, modifications, and field maintenance. The engine MRO segment constituted a major share of the market studied. Engine MRO is an extremely important category of all MRO. Presently, the engine MRO market is witnessing numerous activities in the industry. However, the interior MRO segment is expected to register the highest CAGR during the forecast period. Business jet cabin interior generally consists of lights, seats, windows, IFEC, galley, and lavatories. The design of the lights and seats, colour combinations, and other value add-ons boost the overall look of an aircraft's interior.
Based on the region the business jet MRO market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts highest revenue share to the business jet MRO market due to increasing charter services in this region, is helping the MRO services providers and OEMs to provide extensive maintenance, repair, and overhaul activities in the region. However, Asia-Pacific is expected to have the highest growth rate during the forecast period. The projected growth in pre-owned business jet sales in this region, along with the requirement of the advanced cockpit and new cabin interior retrofits, is expected to increase the need for maintenance, repair, and overhaul services in the region.
Key Players:
The key players operating the business jet MRO market involves United Technologies Corporation (Pratt & Whitney), Lufthansa Technik, General Dynamics Corporation (Jet Aviation & Gulfstream Aerospace Corporation), Rolls-Royce Holding PLC, Bombardier Inc., DC Aviation GmbH, ExecuJet Aviation Group, Constant Aviation, Comlux, Atlas Air Service. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance, In June 2019, Pratt & Whitney investment in west palm beach facility.
Detailed Segmentation:
Business Jet MRO Market, By MRO Type:
- Engine MRO
- Components MRO
- Interior MRO
- Airframe MRO
- Modifications
- Field Maintenance
Business Jet MRO Market, By Region:
- North America
- Middle East & Africa
- Middle East & Africa Business Jet MRO Market, By MRO Type
- Middle East & Africa Business Jet MRO Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Latin America Business Jet MRO Market, By MRO Type
- Latin America Business Jet MRO Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- Asia Pacific Business Jet MRO Market, By MRO Type
- Asia Pacific Business Jet MRO Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Europe Business Jet MRO Market, By MRO Type
- Europe Business Jet MRO Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- North America Business Jet MRO Market, By MRO Type
- North America Business Jet MRO Market, By Country
- U.S.
- Canada
- Middle East & Africa
Company Profile:
- United Technologies Corporation (Pratt & Whitney)
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Lufthansa Technik
- General Dynamics Corporation (Jet Aviation & Gulfstream Aerospace Corporation)
- Rolls-Royce Holding PLC
- Bombardier Inc.
- DC Aviation GmbH
- ExecuJet Aviation Group
- Constant Aviation
- Comlux
- Atlas Air Service
“*” marked represents similar segmentation in other categories in the respective section
Global Business Jet MRO Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Business Jet MRO Strategies
- Key Questions this Study will Answer
- Market Snippet, By MRO Type
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By MRO Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Engine MRO
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Components MRO
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Interior MRO
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Airframe MRO
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Modifications
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Field Maintenance
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By MRO Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By MRO Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By MRO Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By MRO Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By MRO Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- United Technologies Corporation (Pratt & Whitney)
- Company Overview
- Product and Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Lufthansa Technik
- General Dynamics Corporation (Jet Aviation & Gulfstream Aerospace Corporation)
- Rolls-Royce Holding PLC
- Bombardier Inc.
- DC Aviation GmbH
- ExecuJet Aviation Group
- Constant Aviation
- Comlux
- Atlas Air Service
- United Technologies Corporation (Pratt & Whitney)
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The market report has been segmented on the MRO type and region.
The Business Jet MRO Market is driven by factors such as the increasing number of business jets in operation, the need for regular maintenance and upgrades to ensure safety and compliance with aviation regulations, technological advancements in MRO services, and the growing demand for customized and specialized maintenance solutions for business jets.
the high operational costs of MRO services, the impact of economic downturns on discretionary spending for business aviation, and the need for skilled and certified personnel, acting as restraints for the Business Jet MRO Market globally. The COVID-19 pandemic also affected the business aviation sector, leading to a temporary decline in MRO activities.
North America, Europe, Asia-Pacific, and Latin America. North America, with a significant presence of business aviation and established MRO facilities, is expected to dominate the Business Jet MRO Market. Europe and Asia-Pacific are also anticipated to witness growth
The prominent player operating in the business jet MRO market includes United Technologies Corporation (Pratt & Whitney), Lufthansa Technik, General Dynamics Corporation (Jet Aviation & Gulfstream Aerospace Corporation), Rolls-Royce Holding PLC, Bombardier Inc., DC Aviation GmbH, ExecuJet Aviation Group, Constant Aviation, Comlux, Atlas Air Service.