The global aviation Maintenance, Repair, and Overhaul (MRO) market is valued at USD 79.2 billion in 2023, with projections indicating it will reach USD 121.38 billion by 2032, growing at a CAGR of 4.85% from 2024 to 2032. In Singapore, robust growth in aerospace MRO and aerostructure systems boosted ST Engineering’s commercial aviation portfolio revenue by 20% in the first half of the year, driven by USD 1.6 billion in new contracts. In the second quarter alone, ST Engineering secured contracts worth S$1.3 billion, including an Airbus A320 heavy maintenance agreement with an unnamed Asian airline and a three-year quick-turn offload extension for Leap 1B engines with Safran Aircraft Engines.

Asia Digital Engineering (ADE) celebrated the grand opening of its state-of-the-art 14-line MRO hangar, now Malaysia’s largest and most advanced facility. This development reflects ADE’s commitment to becoming a leader in the ASEAN MRO market. Recently, ADE received EASA’s Part 145 Maintenance Organisation approval and AMO approvals in seven other countries, with plans for further regional expansion. In 2023, ADE secured a USD 100 million investment from OCP Asia Ltd., fuelling its next growth phase. These milestones reinforce ADE’s ambition to lead the ASEAN MRO market, supported by international certifications and substantial investment.

AAR Corp reported record sales of USD 657 million in the fourth quarter (Q4) of fiscal 2024, marking a 19% year-on-year increase as it transitions into a higher-margin commercial aftermarket provider. Earnings per share rose to USD 0.88, a 6% increase over the same period in 2023, exceeding Wall Street’s expectations. AAR Corp’s strong financial performance highlights the success of its shift toward higher-margin commercial aftermarket services. With record sales and earnings surpassing expectations, AAR Corp is poised for continued growth, reflecting its strategic adaptability and robust market demand.

The 2nd Annual Aircraft Maintenance, Repair & Overhauls (MRO) Summit by Trueventus will explore emerging trends and standards in aircraft maintenance and engineering. Attendees will gain insights from MRO experts on optimizing fleet availability, reducing maintenance costs, addressing human factors in aviation maintenance, and leveraging new technologies to enhance safety in maintenance and engineering.