The global market for aircraft Maintenance, Repair, and Overhaul (MRO) is growing fast, with forecasts projecting that it could reach a $82.4 billion market value by 2024.
The strong growth is fueled by several factors, including a continuously increasing stringent airworthiness requirements and a steady rise in technology enhancements. Additionally, aviation players increasingly recognize the importance of maintaining, repairing, and overhauling their fleet.
Aircraft MRO, among other things;
- Reduces lost opportunities often caused by aircraft downtime
- Optimizes aircraft performance, thus reducing operating costs
- Ensures maximum passenger and crew safety
- Prolongs the life of aircraft and boosts ROI in capital investments
- Reduces risk or mechanical failure
- Offers long-term savings
Enhanced fleet safety also plays a vital role in influencing customers’ choice of airline carriers. As a result, effective MRO management can not only boost an airline’s safety ratings but influence travelers preferred carrier choice.
The Best MRO Companies Presently
Whether you are a company in aviation in need of MRO support or a jobseeker looking for a career opportunity, the options are endless. Vision Gain recently conducted a market analysis to pick out the best of the growing list of MRO facilities.
lot. The following are the top 10 MRO companies to consider according to the report;
- AAR Corporation
- Aviation Technical Services
- Airbus SAS
- Boeing Company
- Bombardier Inc.
- British Airways Engineering
- Flightstar Aircraft Services
- GE Aviation
- ST Engineering
There are many other household names on the Vision Gain list. These include the SIA Engineering Company, United Technologies Corporation, Spirit AeroSystems Inc., Safran SA, Lufthansa Technik AG, and Honeywell Aerospace.
What to Know About MRO Companies
Before you begin comparing the different MRO houses, however, it’s important to understand what MROs do and what makes a great one.
MRO, in aviation, refers to a set of procedural activities, including administrative, supervision, and managerial practices aimed at restoring aircraft to their original state, performance, and function. MRO houses provide these services, which often include scheduled upkeep, care, and airworthiness of aircraft, engines, and other components.
The services form part of broader aircraft maintenance practices and are only performed by professionals in the field, using specialized tools and equipment. The practices are guided by strict international norms and principles of safe airline functionality. The FAA, for instance, requires airlines to perform an MRO check after every 100 hours of plane use.
Contractors are a key Solution to MRO Professionals Shortage
Owing to the increasing number of both air travelers and aircraft fleet, the aviation MRO subsector has recently witnessed a strong demand for professionals, which is expected to last through 2024. According to a recent report by Global Industry Analysts Inc., engine overhaul, which is the most important aspect of aircraft upkeep, is witnessing the fastest growth followed by components maintenance.
Unfortunately, the supply of MRO talent lags behind the demand. Although aviation schools have tried to keep up, there remains a wide gap between what’s needed and what’s on supply.
Aviation companies are encouraged to turn to contract houses to fill any gaps. While not always an ideal option, contract workers allow airlines and other aviation players to;
- Fulfill short-term project needs
- Manage unpredictable workloads
- Fill positions for absentee employees
- Fill temporary MRO gaps