The Middle-East and Africa aircraft engine MRO market is expected to exhibit a growth rate of over 4% during the forecast period.
– The rise in commercial and general aviation passenger traffic is propelling the growth of the aviation industry in the Middle-East and Africa region. Major regional carriers such as Emirates, Qatar Airways, Middle East Airlines, etc. are placing orders for new aircraft. Many global and regional MRO service providers such as Lufthansa Technik, AMAC Aerospace, JORAMCO, etc. have expanded their MRO service network in the region through partnerships and joint ventures. This factor is propelling the growth of aircraft, aircraft engines, and engine MRO services market in the Middle-East and Africa Region.
– The rise in defense spending by major regional economic powers such as Saudi Arabia, Israel, Turkey, Iran, etc. is propelling the demand for military aircraft in the region. Many countries such as the United Arab Emirates, Saudi Arabia, etc. are focusing on the procurement of refurbished aircraft and upgradation of existing military aircraft fleet. This factor is significantly driving the growth of aircraft engine MRO market in the region.
– Countries in the region such as Saudi Arabia, United Arab Emirates, and Qatar are actively participating in programs such as Carbon Reduction and Offsetting Scheme for International Aviation (CORSIA) and other nations are expected to join the aviation emission curbing programs soon. This factor is also supporting the growth of the aircraft engine MRO market.
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Key Market Trends
Commercial Aviation Segment to Exhibit the Highest Growth Rate During the Forecast Period
The expansion of the commercial aviation industry in the region is propelling the growth of terminal construction, aircraft, and aircraft procurement activities, etc. The rise in air passenger traffic is leading to the development of many small and medium-sized airports with many domestic and international carriers introducing their flights on novel routes. Many major passenger airliners are procuring new aircraft to address the issue of high passenger growth rate. In November 2019, Emirates announced the procurement of 50 new Rolls Royce Trent XWB engine-powered A350 900 aircraft for USD 16 billion. The procurement will start in 2023 and is expected to be completed by 2028. In July 2019, Middle East Airlines of Lebanon signed a contract with Airbus for the procurement of 4 new A321XLR aircraft. The delivery of total order of 15 aircraft that also includes 11 321neo aircraft is scheduled to start in 2020. The growth in the procurement of narrow-body and wide-body aircraft by regional airlines is expected to propel the demand for engine MRO service during the forecast period.
Aircraft Engine MRO Market in the UAE to Exhibit Significant Growth During the Forecast Period
The United Arab Emirates is home to major airlines such as Etihad Airways and Emirates that are rapidly expanding and upgrading their fleet of passenger aircraft. The United Arab Emirates is increasing its spending on the development of tourism and business ecosystem and this is propelling the demand for general aviation aircraft and general aviation aircraft engine MRO market in the country. Many aircraft engine MRO service providers such as Safran SA, Lockheed Martin, etc. have their service centers in the United Arab Emirates. The UAE has also significantly increased its spending on the purchase of military aircraft. In 2019, it placed a USD 618 million order to procure 24 Calidus B-250 light attack aircraft and later in November 2019, the defense ministry of United States announced the up-gradation plan for United Arab Emirates’ existing fleet of F-16 aircraft. The aforementioned factors and instances are expected to drive the growth of the aircraft engine MRO market in the country during the forecast period.
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The aircraft engine MRO market in the Middle-East and Africa region is fragmented. Some of the prominent players in this market are Safran SA, Lufthansa Technik, and Jordan Aircraft Maintenance Limited among others. The market, especially the Middle-East is expected to witness rapid growth owing to the rapid development in the aviation industry. Many global MRO service providers are entering the Middle-East and Africa market through contracts, joint ventures or collaborations, etc. The main revenue generation of MRO service providers in the region depends on aircraft procurements and deals, maintenance and repair contracts from governments and airlines, etc.
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