According to Market Research firm Technavio, the global MRO industry’s size is expected to reach US$ 117.7 billion by 2031, from US$ 68.4 billion in 2021, growing at a CAGR of 5.6 percent. Amongst the four segments that comprise key MRO activities, the engine, and airframes section accounts for nearly 70% of the value of work. This makes the engine MRO aftermarket ripe for growth to pre-COVID levels, expected in late 2024.
The adjustments that will need to be made for this segment of MRO services such as the demand for fuel-efficient engines, newer aircraft deliveries, and updates made incorporating technological advancements. With air travel on a skyward trajectory, there will be a rise in demand for MRO services and the engine aftermarket.