In 2020, the global helicopter MRO services market was valued at $7.21 billion. However, the COVID-19 pandemic had a significant negative impact on this market, leading to a 15.67% decline in growth compared to the average annual growth from 2017-2019.
The market is now projected to rebound, growing from $7.48 billion in 2021 to $10.23 billion by 2028. This represents a compound annual growth rate (CAGR) of 4.57% during the 2021-2028 period. The higher projected CAGR is attributed to the market demand and growth returning to pre-pandemic levels once the effects of the pandemic subside.
In essence, the helicopter MRO services market experienced a sharp downturn due to COVID-19, but is expected to recover and grow at a steady pace over the next several years as the industry returns to normal operations.
Informational Source:
https://www.fortunebusinessinsights.com/helicopter-mro-services-market-104078
Companies Covered in Helicopter Mro Services Market are:
Helicopter MRO services refer to the maintenance, repair, and overhaul activities required to keep rotorcraft airworthy and operational. This encompasses a wide range of tasks, from scheduled inspections and preventative maintenance to major component replacements and complete overhauls.
The helicopter MRO industry has seen significant advancements in recent years, driven by factors such as the increasing complexity of helicopter technology, heightened safety regulations, and the need for more efficient and cost-effective maintenance practices. This report will delve into some of the latest and most unique developments in this dynamic sector.