4 Best Kept Secrets About the Aircraft Maintenance Industry
The Aircraft Maintenance, Repair and Overhaul (MRO) Industry suffered during the recession. The economic decline caused a substantial decrease in sales among major airlines. This led to a serious decrease in the demands for aircraft, as well aircraft maintenance services.
However, IBISWorld recently reported that airlines will have to expand their fleets in coming years. IBSWorld is one of America’s most trusted authoritative sources of market and industry research. Their research shows that this upcoming, ongoing expansion will inevitably lead to an increase in industry services, including aircraft maintenance, repair and overhaul.
4 Best Kept Aircraft Maintenance Industry Secrets You Need to Know…
Many industries have yet to fully recover from the recession, such as the real estate industry. Others have disappeared altogether, like the homes savings and loans industry. But, the Aircraft Maintenance, Repair and Overhaul industry is expected to make a full recovery within the next few years. And, we have four dirty little secrets about the aircraft maintenance industry that prove its recovery is inevitable.
1) Number of MRO Companies Will Decrease
The Aircraft Maintenance, Repair and Overhaul industry experienced an upsurge in company consolidations from 2008 to 2013. This led to a decrease in the amount of industry service operators actually working within this field. And, this consolidation trend is expected to continue for a while longer. In the meantime, IBISWorld and other industry researchers are predicting an increase in airlines sales. Soon, this will lead to a higher demand for aircraft industry service workers.
Take away – The secret here is that those who are already certified and skilled in this industry will already be prepared for employment.
2) Industry Leaders Will Continue to Outsource MRO Services
Aircraft owners and airlines need Aircraft Maintenance Technicians. They are the ones responsible for performing MRO (Maintenance, Repair and Overhaul) services on all types of aircraft. As more consumers return to flying on both private jets and commercial airlines, the number of planes “in the air” will keep increasing.
Take away – This means an increase in preventive maintenance, as well as other types of maintenance, repairs and overhauls.
The secret here is that although some aircraft owners and airlines perform these services in-house, many prefer outsourcing them. Almost all private jet owners use Aircraft Maintenance, Repair and Overhaul companies to perform these services. And, in recent years, airlines have been a driving force behind the increasing emphasis on using MRO outsourcing services. They have chosen to focus their attention on consumer face-to-face services, as opposed to MRO.
3) Newer Aircraft Will Require Training and Certifications
According to The Commercial Aircraft Maintenance, Repair and Overhaul (MRO) Market 2012-2022 report, what was once new aircraft is now starting to enter retirement age. Newer aircraft typically requires less maintenance than what the industry considers to be older aircraft. As these aircraft get older, the amount of maintenance they require continues increasing. Of course, this will lead to a rise in demand for MRO industry service workers.
But, that’s not the secret here. The secret is that MRO providers will need to start investing in new tooling and new training techniques in order to become certified in relevant fields. Third-party providers and smaller airlines may not have the capital needed for these various certifications. And, larger airlines may prefer to outsource Aircraft Maintenance, Repair and Overhaul even more than ever to avoid these training and certification costs.
Take away – MRO industry workers who are already trained and certified in multiple fields will be in higher demand than ever.
4) Aircraft Maintenance, Repair and Overhaul Wages May Rise
As airline industry sales continue to increase, the demand for educated, trained, skilled and certified MRO workers will also increase. The more airlines demand professional training and certification from both in-house Aircraft Maintenance, Repair and Overhaul workers and outsourcing companies, the more they’ll be expected to pay for this. This could certainly be a driving factor for an increase in labor costs. In fact, John Goglia a contributor with Forbes.com stated in a recent article;
Take away – “But I predict that these shortages combined with increased airline profits will begin to be reflected in the pilot and mechanic pay and benefits.” – John Goglia of Forbes.com – 2014 Outlook for Aviation Careers Brightens
We hope you find this article helpful and wish you nothing but the best in your search for a career in the aviation maintenance industry. If you find yourself lacking the proper training credentials, certificates or experience, please feel free to learn more about the Aviation Institute of Maintenance and the career training programs we offer nationwide!