MRO Outlook Sanguine Despite Manpower and Parts Shortages
The aviation aftermarket grew 18 percent in 2022 and forecasters expect it to expand a further 22 percent this year, to $94 billion.
Despite acute manpower shortages and supply chain constraints, the maintenance, repair, and overhaul (MRO) segment is looking ahead to a brisk decade to compensate for shortfalls caused by Covid-19, according to leading forecasters.
In a 10-year forecast published in February, consulting firm Oliver Wyman estimates the world's commercial fleet will expand by 33 percent to more than 36,000 aircraft. “Aviation’s global aftermarket, which provides the MRO to keep the fleet flying, expanded 18 percent in 2022 and is expected to grow another 22 percent this year, topping $94 billion—a mere 2 percent below its 2019 peak,” the report said. “By 2033, it will reach $125 billion—a compound annual growth rate of 2.9 percent.”
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