The global helicopter MRO services market size is expected to reach USD 10.23 billion by 2028, exhibiting a CAGR of 4.57% during the forecast period. The flourishing aviation industry due to a high number of aircraft and helicopter deliveries in India, Japan, China, and Australia will bolster healthy growth of the helicopter MRO services market, states Fortune Business Insights, in a report, titled “Helicopter MRO Services Market, 2021-2028.” The market size stood at USD 7.21 billion in 2020.
List of Key Companies in the Helicopter MRO Services Market:
- Airbus SAS (The Netherlands)
- Heli-One (Canada)
- Honeywell International Inc. (U.S.)
- Leonardo S.p.A (Italy)
- MTU Aero Engines AG (Germany)
- Rolls-Royce Plc (U.K)
- Safran Group (France)
- StandardAero (U.S.)
- Textron Inc. (U.S.)
- Raytheon Technologies Corporation (U.S.)
The report on helicopter MRO services market comprises:
- Wide-ranging analysis of the industry
- Crucial insights into the market
- Megatrends and developments
- Essential information on COVID-19
- Future market value
- Competitive Landscape
- Regional data
Driving Factor:
Rising Popularity of Power by Hour (PBH) Helicopter MRO Services to Bolster Growth
The growing acceptance of PHB due to its advantages, such as reduced financial risk, prediction of accurate maintenance costs, and ease in accessibility of component maintenance and others, will have an excellent impact on the helicopter MRO services market. The increasing number of contracts between MRO service providers and helicopter operators will further drive the global market. For instance, in December 2020, Safran signed a support by hour (SBH) contract with the State Grid General Aviation Company (SGGAC) that encompasses MRO services for its H215 and H225 fleets. The contract also involves a long-term MRO service agreement supporting a total of 4 Makila engines. Besides, comprising the renewal of SBH support for 14 Arriel 2D engines powering the operator's fleet of 13 H125 helicopters.
Read Detailed Summary of This Report: https://www.fortunebusinessinsights.com/helicopter-mro-services-market-104078
COVID-19 Impact:
Deadly Impact of the Pandemic on Helicopter MRO Services Industry
The financial ruin caused by the coronavirus pandemic has resulted in an enormous loss for the aviation sector. The demand for helicopter MRO service dropped significantly due to suspended deliveries and disrupted manufacturing. However, companies such as Airbus SAS, Heli-One, and Honeywell International, Inc. are strategizing new ways to combat this financial disruption. Moreover, prominent companies are also introducing mobile-based MRO software services to simplify the critical helicopter engine, line, and fleet maintenance. Besides, the utilization of helicopter fleets for emergency medical services for COVID-19 patients can improve the industry's stance amid the global pandemic.
Regional Insights:
Existing MRO Service Providers to Boost Market in North America
The market in North America stood at USD 3.09 billion in 2020. The growth is attributed to the procurement of advanced helicopters in the US. The presence of prominent helicopter MRO service providers and OEMs such as ST Engineering, Aerospace, HAECO Group, AAR, and Aviation Technical Services can escalate the growth in the region. Europe is predicted to expand radically during the forecast period. Presence of companies such as Airbus S.A.S. Rolls-Royce, Safran, MTU Aero Engines, and others will propel the helicopter MRO services industry in Europe. For instance, In December 2020, The German Armed Forces (Bundeswehr) awarded a one-year contract to the NHV group to provide MRO services for three H145 aircraft to support their Special Forces’ training program at Laupheim (HSG64).
Competitive Landscape:
Eminent Companies Offers Innovative Solutions to Remain at Forefront
Companies are constantly working on upgrading their solutions and improving their stance in the industry. Key players are devising plans to improve their market presence through contracts, agreements, and collaborations. The expansion plans for MRO service stations by major companies can have a stupendous effect on the helicopter MRO services market growth in the forthcoming years.
Key Development:
January 2020: Rolls-Royce Plc and Asia Pacific Aerospace (APA) collaborated with H&P General Aviation Services Co., Ltd for helicopter engine support in China. The H&P General Aviation Services facility, based in Chinese, offers in-country service for Rolls-Royce M250 and RR300 turboshaft engines.
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