Mary-Louise Hoffman
The worldwide market for commercial and military aircraft maintenance, repair and ovehaul services is projected to grow at an annual average rate of 3.36 percent through 2019, according to a new Research and Markets report.
Research and Markets said Monday it also forecasts that wearables and three-dimensional printers will drive the aviation MRO industry’s growth over the next four years.
The research firm believes the use of additive manufacturing processes can help MRO service providers to build and repair aircraft parts on time.
The report also noted high costs associated with aircraft composite and electronics replacement as a key growth barrier for MRO market.
Airbus Group, Honeywell International, Lockheed Martin, Haeco and ST Aerospace are among the major industry players mentioned in Research and Markets’ report.
