According to Insights Partners' research, the South & Central America aircraft MRO market was valued at US$ 4,590.76 million in 2024 and is expected to reach US$ 6,475.43 million by 2031, registering a CAGR of 5.4% from 2025 to 2031. Retrofitting of older aircraft fleet and blockchain technology changing MRO landscape are among the critical factors attributed to the South & Central America aircraft MRO market expansion.
Retrofitting, which refers to the installation or addition of newer technologies on older aircraft fleets, helps increase passenger comfort and safety and facilitates the airlines in maintaining their older fleets. Continuous advancements in aircraft technologies are resulting in the upgrade of MRO capabilities. MRO service providers are constantly seeking upgrades and procurement of newer technologies in order to service the newer aircraft as well as retrofit the upgraded technologies on the older aircraft fleets. In the current scenario, global commercial airlines are holding on to their older aircraft fleet owing to the drop in fuel prices. This factor is compelling the airlines to opt for MRO activities frequently, which is facilitating the MRO service providers to offer the airlines to retrofit the aircraft fleet with newer technologies. The retrofitting trend is soaring among the MRO service providers. Thus, the integration of advanced and modern technologies into older aircraft fleets is expected to change the aircraft MRO market landscape as well as the face of the aviation industry.
On the contrary, OEMs entering aftermarket and geopolitical tensions hampers the growth of South & Central America aircraft MRO market.
Based on component, the South & Central America aircraft MRO market is segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others. The engine MRO segment held 37.1% share of the South & Central America aircraft MRO market in 2024, amassing US$ 1,705.33 million. It is projected to garner US$ 2,506.64 million by 2031 to expand at 6.0% CAGR during 2025-2031.
Based on aircraft type, the South & Central America aircraft MRO market is bifurcated into fixed wing and rotary wing. The fixed wing segment held 83.2% share of the South & Central America aircraft MRO market in 2024, amassing US$ 3,818.15 million. It is projected to garner US$ 5,421.78 million by 2031 to expand at 5.5% CAGR during 2025-2031.
Based on end users, the South & Central America aircraft MRO market is bifurcated into commercial and military. The commercial segment held 82.1% share of the South & Central America aircraft MRO market in 2024, amassing US$ 3,768.39 million. It is projected to garner US$ 5,239.19 million by 2031 to expand at 5.2% CAGR during 2025-2031.
Based on country, the South & Central America aircraft MRO market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 71.6% share of South & Central America aircraft MRO market in 2024, amassing US$ 3,288.06 million. It is projected to garner US$ 4,583.15 million by 2031 to expand at 5.2% CAGR during 2025-2031.
Key players operating in the aircraft MRO market are AAR CORP; Barnes Group Inc; GE Aerospace; FLTechnics, UAB.; Turkish Technic Inc.; Singapore Technologies Engineering Ltd; Lufthansa Technik; Delta TechOps; Rolls-Royce Holdings Plc; and Collins Aerospace, among others.
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