Global spending on aircraft maintenance, repair, and overhaul reached $136 billion in 2025, up 8% from $126 billion the year before, according to Oliver Wyman's Global Fleet and MRO Market Forecast 2026-2036. The consulting firm projects that figure will climb to approximately $193 billion by the end of the decade, nearly double the market's 2019 value.

The market's growth is tied directly to an aging global fleet. Aircraft manufacturers have been unable to keep pace with demand, with global production running about 24% below 2019 levels by the end of 2025. Airlines had roughly 17,000 unfilled aircraft orders on the books at the start of 2026, a backlog Oliver Wyman estimates will take more than 12 years to clear at current production rates. With fewer new deliveries arriving, operators are keeping older airframes flying longer, driving up maintenance costs and pricing across the aftermarket.

Engine maintenance represents the largest and fastest-growing segment of the MRO market, the report found, as parts shortages and supply chain constraints for materials such as composites and titanium extend turnaround times industry-wide. In regions with older average fleets, including North America and Western Europe, maintenance spending is expected to outpace overall fleet growth through 2036.

Airline profitability has held up despite the pressure, with global net profits reaching $39.5 billion in 2025, a 3.9% margin, aided by a 16% drop in jet fuel prices.

Source: Oliver Wyman -- https://www.oliverwyman.com/our-expertise/insights/2026/feb/global-fleet-and-mro-market-forecast-2026-2036.html#mro-market-value