MRO operations in the aviation industry are currently worth around USD 85 billion and is expected to hit USD 133.69 billion come 2030. As the world returns to normalcy, there has been a steep surge of flights across the globe and in turn an increased need for MRO services. Rolls Royce made an underlying operating profit of USD 850 million between January and June 2023 for servicing its jet-engines, up from USD 157 million and five folds of their profit from the same period last year.

Air India has agreed to buy 470 planes from manufacturers Airbus and Boeing, in a bid that would be worth tens of billions of dollars and the biggest order of new passenger aircrafts in history, as the airlines bets on the rapid expansion of air travel in Asia. This opens up an abundance of opportunities for the MRO sector in Asia with huge profits up for grabs to whomever seizes it first.

Singapore leads the charge as one of the world’s leading and Asia’s largest MRO hubs and are already recognised as the “Aerospace City of the Future”. The MRO sector in Singapore, which is currently worth at USD 5 billion, is growing at 5.94% and expected to reach USD 6.72 billion by 2028, accounting for nearly 25% of MRO revenues in Asia. Following Singapore’s success, players from Indonesia, Malaysia, and Thailand are trying to replicate their success of and are developing their MRO capabilities, which is positioning Southeast Asia as a crucial hub for global aircraft MRO operations.