A Closer Look At The US Engine Industry
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ENGINES – In-service fleet trends by engine category
Following a contraction in the numbers of commercial aircraft in service in 2020 as a result of the pandemic, we will see the fleet continue to recover through 2021, growing at a 2.4% through the forecast period. Growth will be concentrated within the narrowbody aircraft fleet which is expected to expand at a faster 3.8% CAGR between 2021 and 2030, lead by the new generation of single aisle types. As a result engines equipping these narrowbody aircraft are expected to increase from 53% of the current fleet to 61% by the end of the decade.
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ENGINE MRO - MRO service events (overhauls vs. LLPs), demand and trends
Despite having been depressed by the pandemic over the course of 2020 engine MRO demand is expected to grow at the fastest rate of any maintenance expense category over the forecast, achieving an average 4.9% CAGR. Engine maintenance is also expected to account for the largest share of overall MRO demand over the period at 46% of the total. Of the over $400 billion in engine MRO demand generated turbofan overhauls are expected to account for 63% of the total with related turbofan LLP replacements accounting for a further 19%.
