According to a June 2021 Fortune Business Insights report, the global helicopter maintenance, repair, and overhaul (MRO) services market size was worth $7.21 billion in 2020. Pandemic challenges aside, the sector is still tipped to grow from $7.48 billion in 2021 to $10.23 billion in 2028, at compound annual growth rate of 4.57%.
This northward trend can be attributed to an increase in short-distance air travel and rapid urbanization leading to a preference for a comfortable ride on board a helicopter. Moreover, VIP services, demand for off-shore oil and gas exploration, renewables, as also emergency medical services (EMS), are all making helicopter services more commonplace than ever before. More helicopters pressed into service results naturally in more requirement for maintenance or MRO services for overhaul dynamic components, repair instruments, or work on rotor blades. Combined with an increase in aftermarket sales, I would expect MROs to be busy this year with pre-purchase inspections and customizations for new owners.