$55-B aircraft servicing market seen in Asia-Pacific
The aircraft maintenance, repair and overhaul (MRO) industry in Asia-Pacific is projected to become a $55-billion market in 10 years, according to New York-based Alton Aviation Consultancy, signaling a booming travel demand.
This will translate to 37 percent of the total projected the MRO spending globally, making Asia-Pacific the biggest market for aircraft maintenance.
“Operators in the Asia-Pacific region will generate the largest MRO demand, contributing to slightly more than a third of the global total,” the report by Alton Aviation noted.
This year, the region’s MRO sector is expected to deliver $46 billion in revenues.
Biggest markets
Next to Asia-Pacific, North America is the biggest player with revenues estimated to reach $39 billion in 2035. The operators in this region are seen to occupy 27 percent of the market share.
The MRO companies are expected to service mostly narrow-body jets, which can fly up to 240 passengers per flight. These aircraft are deployed to short- to medium-haul routes.
By 2035, Alton Aviation said that 65 percent of the global fleet would be narrow-body jets. Wide-body jets will account for 30 percent.
“MRO demand from narrow-body jets is slated to grow at about 3.5 percent per annum over the next 10 years,” the report noted.
In the Philippines specifically, the aircraft maintenance sector is also seeing a better year ahead in terms of the demand.
Lucio Tan-led MacroAsia Corp., for example, added Air Canada and Air India to its client list, which is expected to rev up its revenues.
The company saw its ground handling and aviation service revenues soar by 33 percent to P4.16 billion last year from P3.14 billion in 2023 because of busier operations. The number of flights handled grew by 5 percent to 189,318 last year.
ExecuJet MRO Services, meanwhile, is expecting to service more aircraft coming from the Philippines this year after accommodating five aircraft in 2023.
ExecuJet has been certified by the Civil Aviation Authority of the Philippines to conduct line and heavy maintenance on Falcon 900/2000 series, Gulfstream G200/GIV series and Bombardier Challenger 300/350 and the Learjet 45.
Its certification is valid until Oct. 31, 2026. ExecuJet has been servicing the Philippine market since 2014.
