MRO Trends To Look For In 2024

Investment in MRO in India has long been discussed, albeit with little in the way of tangible results. This may finally change in 2024 as foreign OEMs and MROs establish aftermarket joint ventures and partnerships with Indian companies.

Vendors anticipate parts prices will increase in 2024, with some projecting they could rise by more than 10%. This will likely increase operators’ appetite for alternative sourcing, such as through PMA parts and DER repairs.

Energy costs will remain an inflation-induced headache for the MRO industry. Relief seems unlikely in the first half of 2024, and this scenario may continue for the rest of the calendar year.

As new-generation engine program issues continue to affect the narrowbody engine segment, MRO providers will look at growing or adjusting capacity to service the backlog of CFM56 and V2500 repairs in 2024.

The coming year will be important for the widebody engine segment’s recovery. Expect a high volume of widebody engines to return from storage, stimulating the aftermarket.

Localized repairs and supply of materials will be targeted as OEMs and MROs look to streamline supply chains as nearshoring strategies continue to gather momentum.

Sustainability efforts of aftermarket companies in North America, Europe and the Asia-Pacific region will be mirrored by MRO providers in the Middle East, Latin America and Africa trying to get up to speed and reduce energy consumption and costs.

A lack of aircraft and engine retirements will likely lead to the continuation of material constraints in 2024, as the market still relies on mature assets—particularly in the narrowbody segment.

The trend of airline maintenance providers and MROs investing in training will likely continue in 2024, with companies looking to establish programs subsidizing tuition costs to attract future workers as well as draw on overseas talent pools to fill skills gaps.