Commercial MRO market continues to expand
July 27, 2011, London, U.K. - The commercial aircraft maintenance, repair and overhaul (MRO) market is expected to reach $50.2 billion by 2021, according to a report by Visiongain.
The global fleet of commercial aircraft is expected to reach nearly 30,000 units by 2021 from 21,494 in 2011, increasing the global demand for commercial aircraft MRO.
As the global economy begins to recover, there are prospects for strong growth within the commercial aircraft MRO market from 2011 and beyond, the report claimed.
The report said a driving force behind air travel growth has been the industrialisation of countries such as India and China.
Asia Pacific and the Middle East is expected to offer new opportunities for commercial aircraft MRO providers with ambitious construction plans for new international and domestic airports going on in these regions.