For an Executive Summary of this report please contact ben.suntivarakom@visiongain.com (+44 (0)20 7549 9976) or refer to our website:

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Contents
1. Report Overview
1.1 Assessing the Commercial Aircraft MRO Landscape
1.2 Report Benefits and Highlights
1.3 Who is this Report For?
1.4 Key Questions Answered by This Analytical Report Include:
1.5 Methodology
1.6 Frequently Asked Questions (FAQ)
1.7 Associated Visiongain Reports
1.8 About Visiongain
2. Introduction to the Commercial Aircraft Maintenance, Repair and
Overhaul Market
2.1 Commercial Aircraft MRO Overview
2.2 Defining the Commercial Aircraft MRO Market
2.3 Commercial Aircraft MRO Sectors
2.4 Who is Responsible for Regulating Commercial Aircraft MRO?
3. Competitor Positioning in the Commercial Aircraft Maintenance,
Repair and Overhaul Market
3.1 Leading 20 Companies in the Commercial Aircraft MRO Market
3.2 Composition of the Commercial Aircraft MRO Market
3.3 Sub-divisions and Structuring of the Commercial Aircraft MRO Market
4. The Leading 20 Companies in the Commercial Aircraft Maintenance,
Repair and Overhaul Market
4.1 AAR Corporation Overview
4.1.1 AAR Corporation Historic Revenue, Company Structure, Contracts and Products
4.1.2 Restructuring of Activities Under Two Business Segments
4.1.3 Licensing and International Approvals
4.1.4 Sluggish Recovery in the North American Economy has been Detrimental to AAR’s
Recent Performance
4.1.5 Outlook for 2015

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4.1.6 AAR Corporation Competitors
4.1.7 Regional Focus of AAR Corporation
4.1.8 Recent Merger and Acquisition Activity of AAR Corporation
4.1.9 AAR Corporation SWOT Analysis
4.2 Air China Technics / Ameco Beijing Overview
4.2.1 Air China Technics / Ameco Company Structure, Contracts and Products
4.2.2 Leading Provider of MRO Services Within and Beyond the Asia-Pacific Region
4.2.3 Proposed Integration of Air China Technics into Ameco Beijing
4.2.4 Air China Technics / Ameco Beijing Outlook for 2015
4.2.5 Air China Technics / Ameco Beijing Competitors
4.2.6 Regional Focus of Air China Technics / Ameco Beijing
4.2.7 Recent Merger and Acquisition Activity of Air China Technics / Ameco Beijing
4.2.8 Air China Technics / Ameco Beijing SWOT Analysis
4.3 Air France Industries KLM Engineering & Maintenance
4.3.1 Air France Industries KLM Engineering & Maintenance Historic Revenue, Company
Structure, Contracts and Products
4.3.2 A Leading Player in Multi-Product Maintenance Services
4.3.3 Favourable Conditions in the Business Environment Although the Number of
Constraints are Growing
4.3.4 Restructuring of Airframe Maintenance Improves Customer Access and
Competitiveness
4.3.5 Capitalising on the High Growth Sectors of Component and Engine Support
4.3.6 Tailoring its Global Network to Local Requirements
4.3.7 Air France Industries KLM Engineering & Maintenance Competitors
4.3.8 Air France Industries KLM Engineering & Maintenance
4.4 Airbus / Satair Group Overview
4.4.1 Airbus Historic Revenue, Company Structure and Commercial Aircraft MRO
Contracts and Products
4.4.2 A Provider of Continuous Support to its Customers
4.4.3 Maintenance & Engineering
4.4.4 Innovation and Investment in New Airbus Aircraft
4.4.5 Satair Group
4.4.6 Airbus Competitors
4.4.7 Regional Focus of Airbus
4.4.8 Recent Merger and Acquisition Activity of Airbus
4.4.9 Airbus SWOT Analysis
4.5 Boeing Company Overview

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4.5.1 Boeing Commercial Aircraft Historic Revenue, Company Structure and Commercial
Aircraft MRO Contracts and Products
4.5.2 A Leading Aerospace Company
4.5.3 Extensive Technical and Maintenance Support Networks and Services
4.5.4 Recognising Opportunities in High Growth Markets
4.5.5 Recent Merger & Acquisition Activity for Boeing Company
4.5.6 Boeing Company Competitors
4.5.7 Regional Focus of Boeing Company
4.5.8 Boeing Company SWOT Analysis
4.6 British Airways Engineering Overview
4.6.1 British Airways Historical Revenue, British Airways Engineering Expenditure,
Company Structure, Commercial Aircraft MRO Contracts / Programmes and Products
4.6.2 Experienced In-House Support and Full Maintenance Capabilities
4.6.3 Aircraft Maintenance with a Specific Focus on Airbus and Boeing
4.6.4 An International Network of Line Maintenance Stations
4.6.5 British Airways Engineering Competitors
4.6.6 Regional Focus of British Airways Engineering
4.6.7 British Airways Engineering SWOT Analysis
4.7 Delta TechOps Overview
4.7.1 Delta Air Lines Inc Historical Revenue, Delta TechOps Company Structure,
Commercial Aircraft MRO Contracts / Programmes and Commercial Aircraft MRO
Products / Services
4.7.2 Global Aircraft MRO Capabilities
4.7.3 MRO Services that Cover a Broad Range of Commercial Aircraft
4.7.4 Contract Types to Suit the Needs of Different Customers and Business Models
4.7.5 Regional Focus of Delta TechOps
4.7.6 Delta TechOps Competitors
4.7.8 Delta TechOps SWOT Analysis
4.8 Fokker Technologies Overview
4.8.1 Fokker Services Historical Revenue, Fokker Technologies Company Structure,
Commercial Aircraft MRO Contracts / Programmes and Commercial Aircraft MRO
Products / Services
4.8.2 Maintenance, Modification and Logistics Support for a Number of OEMs
4.8.3 Falling Revenues and Strategic Overhaul
4.8.4 Financial Performance of Fokker Services
4.8.5 An International Focus Beyond Europe
4.8.6 Fokker Services Competitors

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Contents
4.8.7 Fokker Services SWOT Analysis
4.9 GE Aviation Overview
4.9.1 GE Aviation Historical Revenue, Company Structure, Commercial Aircraft MRO
Contracts / Programmes and Commercial Aircraft MRO Products / Services
4.9.2 The Leading Company in Commercial Aircraft MRO
4.9.3 Technical Expertise, a Global Network and a Diverse Portfolio of Engine
Maintenance, Repair and Overhaul Services
4.9.4 Financial Performance and Outlook
4.9.5 GE Aviation Competitors
4.9.6 Regional Focus of GE Aviation
4.9.7 GE Aviation SWOT Analysis
4.10 Hong Kong Aircraft Engineering Co. Ltd (HAECO) Overview
4.10.1 Hong Kong Aircraft Engineering Co. Ltd Historical Revenue, Company
Organisational Structure, Commercial Aircraft MRO Contracts / Programmes and
Commercial Aircraft MRO Products / Services
4.10.2 Comprehensive Maintenance Services through an Extensive Group Network
4.10.3 Labour Shortages Result in Recent Declines in Revenue
4.10.4 Hong Kong Aircraft Engineering Co. Ltd. Competitors
4.10.5 Hong Kong Aircraft Engineering Co. Ltd. SWOT Analysis
4.11 Iberia Maintenance Overview
4.11.1 Iberia Historical Revenue, Iberia Maintenance Company Organisational Structure,
Commercial Aircraft MRO Contracts / Programmes and Commercial Aircraft MRO
Products / Services
4.11.2 Over Eighty Years of Experience with Iberia and Third Party Fleets
4.11.3 Dedicated Comprehensive MRO Solutions for a Variety of Aircraft Types
4.11.4 A Global Network of Line Maintenance Stations
4.11.5 Iberia Maintenance Competitors
4.11.6 Regional Focus of Iberia Maintenance
4.11.7 Iberia Maintenance SWOT Analysis
4.12 Lufthansa Technik Overview
4.12.1 Lufthansa Technik Historical Revenue, Company Structure, Commercial Aircraft
MRO Contracts and Commercial Aircraft MRO Products and Services
4.12.2 From Flight Operations Support to Global MRO Provider
4.12.3 Financial Performance for Lufthansa Technik
4.12.4 Innovation and Technology are the Key Factors for the Coming Years
4.12.5 Lufthansa Technik Competitors
4.12.6 Regional Focus of Lufthansa Technik

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Contents
4.12.7 Lufthansa Technik SWOT Analysis
4.13 MTU Maintenance Overview
4.13.1 MTU Maintenance Historical Revenue, MTU Maintenance Company Structure
Commercial Aircraft MRO Contracts and Programmes and Commercial Aircraft MRO
Products / Services
4.13.2 Providing Unique Service Solutions for Aircraft Engines
4.13.3 Financial Performance and Outlook of MTU Maintenance
4.13.4 Regional Focus of MTU Maintenance
4.13.5 MTU Maintenance Competitors
4.13.6 MTU Maintenance SWOT Analysis
4.14 Rolls Royce Holdings PLC Overview
4.14.1 Rolls Royce Holdings PLC Civil Aerospace Services Historic Revenue, Company
Structure, Commercial Aircraft MRO Contracts / Programmes and Commercial Aircraft
MRO Products / Services
4.14.2 Comprehensive Services Portfolio Ranging from Complete Engine Management to
Line Maintenance Parts and Full Engine Overhauls
4.14.3 Financial Performance and Outlook for Rolls Royce Civil Aerospace
4.14.4 Rolls Royce Holdings PLC Competitors
4.14.5 Regional Focus of Rolls Royce Holdings PLC
4.14.6 Rolls Royce Holdings PLC SWOT Analysis
4.15 SIA Engineering Company Overview
4.15.1 SIA Engineering Company Historical Revenue, Company Structure Commercial
Aircraft MRO Contracts / Programmes and Commercial Aircraft Products / Services
4.15.2 Leading MRO Company with an Expanding Client Base of International Airlines
and Growing Capabilities
4.15.3 Financial Performance of the SIAEC Group
4.15.4 Regional Focus of SIA Engineering Company
4.15.5 SIA Engineering Company Competitors
4.15.6 SIA Engineering Company SWOT Analysis
4.16 SR Technics Overview
4.16.1 SR Technics Company Structure, Commercial Aircraft MRO Contracts /
Programmes and Commercial Aircraft MRO Products / Services
4.16.2 Worldwide Technical Solutions for Airlines
4.16.3 An Extensive Network of Maintenance Facilities
4.16.4 SR Technics Competitors
4.16.5 Recent Mergers and Acquisitions of SR Technics
4.16.6 SR Technics SWOT Analysis

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Contents
4.17 ST Aerospace Overview
4.17.1 ST Aerospace Historical Revenue, Company Structure, Commercial Aircraft MRO
Contracts / Programmes and Commercial Aircraft MRO Products / Services
4.17.2 A Major Global Independent MRO Provider
4.17.3 Financial Performance and outlook of ST Aerospace
4.17.4 Growth in all MRO Sectors at ST Aerospace
4.17.5 ST Aerospace Competitors
4.17.6 ST Aerospace SWOT Analysis
4.18 TAP Maintenance & Engineering Overview
4.18.1 TAP Maintenance & Engineering Historical Revenue, Company Structure,
Commercial Aircraft MRO Contracts / Programmes and Commercial Aircraft MRO
Products / Services
4.18.2 TAP Maintenance & Engineering Short Term Fragility Despite Long Term Growth
Prospects
4.18.3 Financial Performance and Outlook for TAP Maintenance & Engineering
4.18.4 New Strategies and Re-Branding in the MRO Market
4.18.5 TAP Maintenance & Engineering Competitors
4.18.6 TAP Maintenance & Engineering SWOT Analysis
4.19 Turkish Technic Inc Overview
4.19.1 Turkish Technic Inc Historical Revenue, Commercial Aircraft MRO Contracts /
Programmes and Commercial Aircraft MRO Products / Services
4.19.2 Turkish Technic Inc – Big Ambitions in the MRO Market
4.19.3 An Extensive Network of International Clients
4.19.4 Turkish Technic Inc Competitors
4.19.5 Turkish Technic Inc SWOT Analysis
4.20 United Technologies Corporation Overview
4.20.1 United Technologies Corporation Historic Revenue, Pratt & Whitney Historical
Revenue, UTC Aerospace Systems Historic Revenue
4.20.2 Pratt & Whitney Commercial Aircraft MRO Contracts / Programmes, UTC
Aerospace Systems Commercial Aircraft MRO Contracts / Programmes and United
Technologies Corporation Commercial Aircraft MRO Products / Services
4.20.3 High-Technology and Modern Solutions for Commercial Aviation MRO Services
4.20.4 Financial Perfomance and Outlook of United Technologies Corporation
4.20.5 Regional Focus of United Technologies Corporation
4.20.6 United Technologies Corporation Competitors
4.20.7 United Technologies Corporation SWOT Analysis
4.21 Selected Other Companies in the Commercial Aircraft MRO Market

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5. SWOT Analysis of the Global Commercial Aircraft MRO Market
6. Expert Opinion
6.1 Iberia Maintenance
6.1.1 Iberia Maintenance’s position in the Commercial Aircraft Maintenance, Repair &
Overhaul Market
6.1.2 Key Areas of Commercial Aircraft Maintenance, Repair & Overhaul Focus for Iberia
Maintenance
6.1.3 Key Trends and Developments in Commercial Aircraft Maintenance, Repair &
Overhaul for Iberia Maintenance
6.2 SR Technics
6.2.1 SR Technics’ position in the Commercial Aircraft Maintenance, Repair & Overhaul
Market
6.2.2 Key Areas of Commercial Aircraft Maintenance, Repair & Overhaul Focus for SR
Technics
6.2.3 Key Trends and Developments in Commercial Aircraft Maintenance, Repair &
Overhaul for SR Technics
7. Conclusions
7.1 Market Share and Outlook for the Top 20 Commercial Aircraft MRO Companies
7.2 Analysing the Future Outlook of the Commercial Aircraft MRO Market

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Top 20 Commercial Aircraft Maintenance, Repair &
Overhaul (MRO) Companies 2015: Leaders in
Engine, Component, HMV & Line Maintenance
4.2 Air China Technics / Ameco Beijing Overview
Table 4.5 Air China Technics / Ameco Beijing Overview 2015 (Ranking, Parent
Revenue US$m, Revenue from Commercial Aircraft MRO Market US$m, % Revenue
from Commercial Aircraft MRO Market, Global Commercial Aircraft MRO Market
Share %, Total Company Capital Expenditure US$m, Capital Expenditure as a % of
Total Revenue, HQ, Ticker, IR Contact, Website)
Ranking 19
th
Parent Company Revenue US$m $16,126.3m (estimated) [FY 2013]
Revenue from Commercial Aircraft MRO Market
US$m
$214.0m (estimated) [FY 2013]
% Revenue from Commercial Aircraft MRO
Market
1.3%
Global Commercial Aircraft MRO Market Share % 0.4%
Total Company Capital Expenditure $m $2,966.5m [FY 2013]
Capital Expenditure as a % of Total Revenue 18.4%
Headquarters Beijing, China
Ticker 601111:SHH
IR Contact ir@airchina.com
Website www.ameco.com.cn
Source: Visiongain 2015
Figure 4.4 Air China / Ameco Beijing Global Market Share (% Market Share)
Source: Visiongain 2015
0.4%

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Top 20 Commercial Aircraft Maintenance, Repair &
Overhaul (MRO) Companies 2015: Leaders in
Engine, Component, HMV & Line Maintenance
Table 4.6 Air China Technics / Ameco Beijing Commercial Aircraft MRO Contracts and
Programmes (Date, Country, Details)
Date Country Details
October
2014
China
Ameco received authorisation from the CAAC, EASA and FAA to perform landing gear overhaul
on the Airbus A330. Ameco’s other landing gear capabilities already include the Airbus A320
and A321, the Boeing 737 NG family and the Boeing 747.
October
2014
China
Ameco announced that it would provide support and maintenance for Air China’s fleet of Boeing
747-8 aircraft, of which it has seven on order.
September
2014
Russia
Ameco Guanngzhou outstation began performing line maintenance for Aeroflot’s Airbus A330-
300 aircraft. Aeroflot is the eighth third party customer for Ameco Guangzhou.
August
2014
Austria
Ameco signed a contract to perform C-checks on four Boeing 767 and two Boeing 777 aircraft
belonging to Austrian Airlines. The checks will be performed between November 2014 and
March 2015. Cooperation with Austrian Airlines began in 2002.
August
2014
Singapore
Ameco started performing line maintenance and releasing services for Singapore Airlines’ fleet of
Airbus A380 aircraft used on the Beijing – Singapore flights.
August
2014
Vietnam
Ameco Beijing’s Shanghai outstation started performing line maintenance and releasing services
for Vietnam Airlines’ fleet of Airbus A320 aircraft, twice a week. Vietnam Airlines is the seventh
international customer for the Shanghai facility.
April 2014 US
Ameco started performing line maintenance and releasing services for Hawaiian Airlines as well
as A-checks. These services have been available since Hawaiian began operations between
Honolulu and Beijing.
April 2014 UAE
Ameco began performing line maintenance and releasing services for Etihad Airways’ fleet of
Airbus A330 aircraft at its Chengdu outstation. The carrier is the third customer at the Chengdu
facility.
April 2014 Ethiopia
Ethiopian Airlines signed a three year contract with Ameco Beijing for engine overhaul services.
Under the terms of the agreement, Ameco will overhaul six RB211s for the carrier from 2014
through to 2016. This is the second three-year contract Ameco Beijing signed with Ethiopian
Airlines, after the first one was completed in 2012.
February
2014
Thailand
Sabaidee Airways contracted Ameco Beijing to provide maintenance for its Boeing 737 fleet up
until 2018. The agreement includes AOG support, airframe C and D checks, repair and overhaul
for landing gear and engines.
October
2013
Thailand
Ameco Beijing and Business Air signed a three year contract for the overhaul of its entire Boeing
767 fleet which was due to begin in January 2014. Business Air and Ameco have been in
cooperation since 2012 with Ameco providing airframe overhaul and PW400 engine leasing and
overhaul for the 767.

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Top 20 Commercial Aircraft Maintenance, Repair &
Overhaul (MRO) Companies 2015: Leaders in
Engine, Component, HMV & Line Maintenance
6. Expert Opinion ___
6.1 Iberia Maintenance
Iberia Maintenance is the maintenance division of Iberia, the flag carrier and largest airline of Spain.
The company provides services in all key aspects of commercial aircraft MRO with almost eighty
years of experience supporting the Iberia fleet and third party operators. The company employs
nearly 4,000 technicians and engineers. Visiongain spoke to Adolfo Gordo, Head of Commercial
for Iberia Maintenance. Visiongain would like to thank Mr Gordo for his contribution and Consuelo
Arias Hernãndez, Communications Director, for facilitating this interview.
6.1.1 Iberia Maintenance’s Position in the Commercial Aircraft
Maintenance, Repair & Overhaul Market
Visiongain: Please could you outline your role within Iberia Maintenance and some of the recent
work that you have been involved in?
Iberia: My name is Adolfo Gordo and I am head of Commercial for Iberia Maintenance, reporting to
the Technical EVP. As part of my responsibilities I’m currently involved in the roll out to customers
of our new product in the Engine Overhaul area, the V2500 series, for which we have recently
gained capability during 2014.
Visiongain: Could you comment on where Iberia Maintenance’s focus lies regarding the
commercial aircraft MRO market?
Iberia: We are currently providers of MRO services for Iberia fleet and other 100 customers in the
4 major categories: Engines Overhaul, Components Services, Heavy Maintenance and Line
Maintenance. With the exception of Engines where we can support either Airbus, Boeing or
Bombardier aircraft types, we consider ourselves more Airbus services oriented in the rest of areas
covering A320 family, A330 and A340s.
6.1.2 Key Areas of Commercial Aircraft Maintenance, Repair & Overhaul
Focus for Iberia Maintenance
Visiongain: What services and products of Iberia Maintenance do you consider are the most
important or in high demand in the commercial aircraft MRO market?