CURRENT MRO STATUS IN THE AVIATION INDUSTRY
Have you thought of how are the aircraft continuously fly over the sky.? How do they become airworthy all the time.? The answer for all these lies in MRO Organization. If there is no better MRO in the aviation industry, there won’t be efficient commercial aviation today. So, let’s talk about the current MRO status in the commercial aviation market amid the pandemic situations.
MRO ROLE IN AVIATION INDUSTRY
Commercial airlines, aircraft operators are more concerned about the Maintenance, Repair, and Overhaul market as it considered a higher cost factor for them. The aircraft need to be approved fully airworthy while the MRO provides all the necessary maintenance, inspections, repairs and services to attain it. So, airlines create their own commercial airline MRO facilities to support their fleet and provide their service to other aircraft also. In order to provide above mentioned tasks, MRO needs to manage their assets such as spare parts,
consumables and equipment, and human labor effectively. Thus, the effective MRO market will allow the aviation industry to run smoothly towards the peak in the Business market.
COVID 19 PANDEMIC IMPACT
As per Many recent aviation statistics, the global MRO market was valued at about $616 Billion in 2020 and projected to reach $700 billion by 2026. But due to the current covid pandemic situation, the estimated progress went down. The main reasons were the impact of commercial public transportation and the temporary closure of aircraft manufacturing units. This led to break the chain between aircraft vendors and MRO companies. Without proper supply chain management and the operational challenges caused by lack of investments, manpower, and reduction of commercial transportation have dragged into a downturn in the MRO market. But these disruptions were reduced after the reopening of commercial public transport in most countries recently.
Though there was a downturn in the global MRO market during the pandemic period, the current Global market is showing some positive trends. Implementing smart technologies like sensors and IOT raised the Predictive maintenance aspects. Through this, reducing downtime in products, components, fewer maintenance delays, and proper maintainability of component inventory are achieved.
Digitalization on to supply chain management has been caused increasing its performance, tighten chain between suppliers, and proper knowledge of the current market. Human errors can be minimized furthermore and able to administrate the organization without any difficulties.
The rise in the Asian aviation market is a stimulant to the current MRO market. India is emerging to be a centralized MRO hub showing significant growth in manufacturing, automation and industrialization. China is also started investing in manufacturing and IOT and concerns more about the R&D section in the aviation industry. With increasing the aircraft fleets in the Asian region, the demand for better MRO companies will rise in few years.
Within recent years, the increase of A320 NEO & B737 MAX aircraft, which are narrow-body low-cost carriers have helped to increase commercial transportation. Not only that the count of narrow-body aircraft will increase in next the decade due to high demand in them. So, MROs will be able to provide more service to the increased airline fleets by developing their distribution strategy and supply chain capabilities. If the above trends continuous to work, the MRO market will achieve the expected market position soon in Commercial aviation.