During the 1990s and 2000s, negligence in maintenance activities was one of the leading causes of aviation accidents. Studies reported that 42 percent of all airline accidents between 1994 and 2004 were caused due to maintenance related problems
Fremont, CA: The commercial aircraft MRO (Manufacture, Repair. and Operations) market exceeded USD 78 billion in 2019 and is expected to demonstrate a 6 percent CAGR from 2020 to 2026. Proper maintenance and refurbishments of aircraft have become extremely important for aircraft to maintain their optimum performance and to comply with the strict regulatory norms. This has significantly boosted the market share for commercial aircraft MRO. The further advancement of technologies combined with the need to address wear and tear of components will only strengthen the market even more.
During the 1990s and 2000s, negligence in maintenance activities was one of the leading causes of aviation accidents. Studies reported that 42 percent of all airline accidents between 1994 and 2004 were caused due to maintenance related problems. Since then, aviation norms have been stricter and more rigid. Airlines are now required to conduct an intensive maintenance and service inspection for every 100 hours of service. Along with maintenance, it is also important to continually update the installed avionics to ensure a smooth and hassle-free flight.
Here are three trends that will set the tone for the future of the industry.
High costs associated with the carrying out of MRO operations is one of the primary reasons that could hamper the growth of the commercial aircraft MRO market. In addition, high costs of spares and components combined with downtime losses during complex operations can also tally up to a significant amount in losses. The solution to these problems lies in innovative sensors and RFID technologies that can keep more efficient tabs on components and parts.
Upgrading Systems and Software Models
Modifications will be one of the fastest-growing segments in the commercial aircraft MRO market. This segment mainly includes paintings, avionics, and interiors, among others. Advancements in technology along with improvements in the software will play a significant role in enhancing the system performance, which in turn increases the market value. Focusing on flight safety and autonomous control will be a top trend in the coming years.
Low-cost Carriers and Improved Travel Route Networking
It is expected that narrow-bodied aircraft will dominate the next few years of the airline industry. The rising air passenger traffic owing to the proliferating tourism industry and improving spending capability is driving the segment growth. The increasing demand for low-cost carriers offering attractive air tickets at significantly lower prices further boosts the segment size. Also, manufacturers are continuously innovating and launching new models to meet the demands in the segment.
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