Aircraft Maintenance, Repair and Overhaul: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024
The market size of aircraft maintenance, repair and overhaulmarketis determined based on the top down approach. The market size is validated using primary interview with the participants working in some of the leading players in the aircraft maintenance, repair and overhaulmarket. The primary interview participants typically include managers and CXO level executives of the leading players in this market. The primary interviews not only help identify the market size of the aircraft maintenance, repair and overhaul market but also identify the factors that promote the growth in the market and the factors that restrain the growth in this market. The views of primary respondents were reconciled to provide qualitative analysis of the aircraft maintenance, repair and overhaulmarket. The primary respondents also help identifying top 5-10 players and their possible market share in the respective country markets and in world market. The bottom-up approach is used to validate the global market size of telemedicine. With the help of primary interviews and secondary research the market size of aircraft maintenance, repair and overhaul is determined for each country studied, which then is added to arrive at the regional market size and thereby obtaining global market size. This in turn helps us to validate the market size of aircraft maintenance, repair and overhaulin the world market.
ExecutiveSummary Global Aircraft Maintenance, Repair and Overhaul Market Highlights,( USD Million)
The global aircraft maintenance, repair and overhaul market is expected to grow at a CAGR of 3.8 % between 2018 and 2024 in terms of value. Growing commercial Aircraft navy has primarily driven the aircraft maintenance repair and overhaul market. Moreover, the aircraft retirements have also been decreased due to increasing age of aircrafts. The main reason behind doing this is due to the current aircrafts being continuously upgraded to include latest technologies through MRO services before being retired for scrap and fighter planes. This is another factor driving the growth of aircraft maintenance repair and overhaul market. Time constraints, high maintenance cost, limited number of service stations and skilled expertise are some of the restraining factors that affect the growth of market. Government bodies are continuously formulating strict rules and regulations affecting emission levels of aircraft below the set standards which in turn is the key
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