How big is the MRO market?

The global maintenance, repair, and operations (MRO) market attained a value of USD 685.5 billion in 2020. Aided by rapid digitalisation and the emergence of internet of things (IoT), the market is projected to further grow at a CAGR of 2.3\% between 2021 and 2026 to reach a value of USD 787.2 billion by 2026.

What is the aircraft MRO market?

Scope of the Report Aircraft MRO refers to overhaul, inspection, repair, or modification of an aircraft or its components. The aircraft maintenance, repair, and overhaul (MRO) market is segmented by MRO type and geography. By MRO type, the market is segmented into airframe, engine, component, and line maintenance.

How big is the aviation market?

The aviation industry supports $3.5 trillion (4.1\%) of the world’s gross domestic product (GDP). If aviation were a country, it would rank 17th in size by GDP.

How many commercial aircraft are there in the world in 2021?

Today, the 2021 fleet is up to more than 23,700 aircraft. By 2031, we forecast the fleet will number more than 36,500. But it’s still a far cry from pre-COVID projections, which put the 2021 global fleet at 28,800 and the 2030 fleet at more than 39,000.

How many MRO are there?

Aircraft maintenance, repair and overhaul (MRO) businesses in the U.S. 2018-2021. In 2020, there were approximately 3,133 businesses in the U.S. aircraft maintenance, repair and overhaul (MRO) market to provide an essential services for the safety and efficiency of the aviation industry.

What are MRO items?

MRO includes items that are used in a production process but — unlike raw materials — are not incorporated into a company’s finished products. Spare parts and tools for repairing manufacturing equipment are MRO inventory items, as are gloves and goggles used by plant workers.

How many commercial aircraft are there in the world?

While the active global commercial fleet currently stands at 25,368 aircraft, the next 10 years will see 3.4\% net annual growth, increasing the number to 35,501.

What is the difference between narrow body and wide body aircraft?

Most airplanes can be classified as either narrow-body or wide-body, depending on their seat configuration. Narrow-body airplanes only have a single aisle of seats, whereas wide-body airplanes have two or more aisles of seats.

How big is the aviation industry in the US?

Market Overview The North America aviation market was valued at USD 59.20 billion in 2020, and is projected to grow with a CAGR of over 4\% during the forecast period (2021 – 2026).

How much is the aviation industry worth globally?

Market size of the global airline industry 2018-2021 The global airline industry was valued at only 359.3 billion U.S. dollars in 2020 due to the coronavirus outbreak and is estimated to reach 471.8 billion U.S. dollars in 2021.

How many Cessna 172 have been built?

More than 43,000 Cessna 172s have been made so far. And while the 172 (also known as the Skyhawk) has undergone a myriad of tweaks and improvements over the past 60-odd years, the aircraft essentially looks much the same as it did when it was first built in the 1950s.

How many commercial planes are flying right now?