Charting The Flight Path: MRO Investments To Gravitate Towards Southeast Asia
As aviation industry gears up for a potential boom in the region, what does 2024 hold for the sector for MRO? Uncover the countries poised to reap the benefits and navigate the upcoming aviation landscape.
According to a report by Allied Market Research, “Southeast Asia Air Transport MRO Market by Aircraft Type, End-Use, Organization Type, and Service Type: Southeast Asia Opportunity Analysis and Industry Forecast, 2021–2032,” the Southeast Asian air transport MRO market was valued at US$5,259.1 million in 2021, and is projected to reach US$13,481.3 million by 2032, registering a CAGR of 7.8% from 2022 to 2032.
The Air Transport MRO (Maintenance, Repair, and Operations) sector plays a vital role in ensuring safe and efficient aircraft operation. It encompasses a range of services and activities necessary to maintain & repair aircraft, systems, and components throughout their operational lifespan.
MRO services cover various aspects, including routine inspections, scheduled maintenance, unscheduled repairs, component replacements, and overall management of aircraft maintenance programs. These services are conducted by specialised MRO companies, both in-house by airlines and outsourced to third-party providers, and adhere to strict regulatory standards and guidelines to ensure compliance with safety regulations.
The return of air travels are jump starting MRO investments. Greater penetration in the commercial sector hike MRO activities in Southeast Asia.
However, the biggest challenge as seen in other industries — shortage of skilled labour and jammed supply chains are thwarting its momentum. Allied Market Research added supportive government policies by the government of the Southeast Asian countries and technological advancement by the market players are expected to provide lucrative opportunities for the expansion of the Southeast Asian air transport MRO market.
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