World MRO Market Estimated To Top $55B by 2015

 - April 29, 2009, 11:00 AM

A report issued by Global Industry Analysts predicts the worldwide maintenance, repair and overhaul (MRO) market will reach $55.2 billion by 2015. The recently released report, “Aircraft Maintenance, Repair And Overhaul: A Global Market Report,” suggests the world market for heavy aircraft maintenance is poised to grow at a steady pace through 2015, with engine overhauls expected to expand most rapidly in the Asia-Pacific region. While the report portrays the MRO market as highly volatile, it adds, “As the market recovers, strong demand fundamentals will re-emerge to prop up growth.” The company also predicts Asian markets will emerge as the hub of activity and cites the establishment of low-cost MRO facilities in response to previously expanded air traffic. “Asian markets, including Singapore, China, India and Malaysia, have seen a dramatic proliferation in air traffic, and the increase in the number of passengers has been and will continue to remain an important factor in attracting foreign investment and paving the way for future development.”