Global MRO Market 2012-2016: One of the Major Growth Drivers in the Market Is the Increased Focus of OEMs On MRO
DUBLIN, November 1, 2013 /PRNewswire/ –
Research and Markets (
http://www.researchandmarkets.com/research/sdpvcw/global_mro_market) has announced the
addition of the “Global MRO Market 2012-2016″
[http://www.researchandmarkets.com/research/sdpvcw/global_mro_market ] report to their
The analysts forecast the Global MRO market to grow at a CAGR of 3.82 percent over the
period 2012-2016. One of the key factors contributing to this market growth is the
increasing focus of OEMs on MRO. The Global MRO market has also been witnessing the
emergence of next-generation technology. However, complex regulatory requirements are
creating confusion with end-users and could pose a challenge to the growth of this market.
The key vendors dominating this market space are CFM International S.A., General
Electric Co., Royce Holdings plc, and Pratt and Whitney.
The other vendors mentioned in the report are Honeywell International Inc., and
PowerJet Parts Inc.
Commenting on the report, an analyst from the Automotive team said: “The Global MRO
market is expected to witness increasing demand for commercial aerospace MRO
[http://www.researchandmarkets.com/research/sdpvcw/global_mro_market ] activities in
emerging countries in the coming years, leading to market consolidation and expansion.
Many companies are focusing on expanding their presence in developing countries by
embarking on diverse strategic initiatives which are expected to enhance their topline
growth and their market reach. For instance, in March 2011, Bombardier Inc. carried out a
major expansion of aftermarket services for its aircraft business operators in China. This
ramp-up included the creation of a new regional support office and a parts depot in Hong
Kong and a new line maintenance facility in Jinan, China. This expansion in China, which
was part of the company’s planned investment of up to US$30 million, has helped the
company boost the support for its growing customer base in China.”
Further, the report states that one of the major challenges in this market is the
increase in the regulations being introduced by various governments. Several vendors in
the Global MRO market work for ministries and government agencies; therefore, they have to
comply with stringent regulations.
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