Aircraft MRO Market Size, Share & Trends Analysis Report By Service Type (Engine Overhaul, Airframe Maintenance), By Organization Type, By Aircraft Type, By Aircraft Generation, And Segment Forecasts, 2019 - 2025

Published: Oct, 2019 | Pages: 118 | Publisher: Grand View Research
Industry: Automotive | Report Format: Electronic (PDF)

The global aircraft MRO market size is expected to reach USD 104.46 billion by 2025, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. The growing influx of aircraft OEMs into the MRO sector traditionally dominated by specialized maintenance providers has opened up new avenues for the market growth.

As per the International Air Transport Association (IATA), MRO activities contribute to about 15% of the total operating cost of the airlines. The OEMs as well as specialized MRO providers are making significant investments in new technologies to enhance their service quality and operational efficiency. Profitability of aviation industry hinges on the maintenance of old fleet rather than the sale of new aircraft, which has elevated the importance of the aircraft MRO market.

The service providers in the market constitute of separate department of airline operators or independent MRO providers. These service providers are transforming into full-service suppliers and their role is expected to become a one stop-shop to cater to all of the airline's MRO needs. For instance, Lufthansa Technik have advanced technical capabilities and have succeeded in selling power-by-the-hour contracts.

In North America, independent MRO providers offer lucrative opportunities for experienced and skilled workers and attractive pay packages to address the growing demand for maintenance activities. For instance, mechanics and avionics technicians lead the laborers' demand, followed by electrical and software engineers. In 2018, the region witnessed a steep rise in outsourcing for MRO spending.

France-based Airbus S.A.S.-one of the most prominent aircraft manufacturers-is developing its Air+ program, which offers the opportunity to MRO providers of collaborating with other players to seek the best services and to develop customized MRO solutions. The company is also keen on setting MRO service centers in Asia Pacific countries such as India within a partnership mode.

Since February 2019, AFI KLM E&M have been deploying mobile climbing robots in its line maintenance operations. The company is looking forward to integrate climbing robots with Donecle drones for aircraft inspections, used since 2016.

Further key findings from the report suggest:

• Aircraft and engine manufacturers such as Rolls-Royce and Boeing are putting additional focus on aircraft maintenance business and offering total care solutions

• The opportunities for independent MRO providers are expected to remain buoyant as airlines are expected to continue outsourcing maintenance work for them to focus on their core business, although OEMs are gradually foraying into the MRO space considering the profitability involved

• Electronic systems are swiftly replacing the mechanical systems. Increasing complexity of the electronic systems is expected to create demand for the skilled workforce for aftermarket service and repair activities

 Table of Contents

Chapter 1. Methodology and Scope
                    1.1. Market Segmentation & Scope
                    1.2. Market Definition
                    1.3. Information Procurement
                        1.3.1. Purchased database
                        1.3.2. GVR's internal database
                        1.3.3. Secondary sources & third party perspectives
                        1.3.4. Primary research
                    1.4. Information Analysis
                        1.4.1. Data analysis models
                    1.5. Market Formulation & Data Visualization
                    1.6. Data Validation & Publishing

Chapter 2. Executive Summary & Market Snapshot
                    2.1. Market Outlook
                    2.2. Segmental Outlook

Chapter 3. Market Variables, Trends & Scope
                    3.1. Market Size & Growth Prospect
                    3.2. Value Chain Analysis
                    3.3. Market Dynamics
                        3.3.1. Market driver analysis
                        3.3.2. Market restraint analysis
                    3.4. Penetration & Growth Prospect Mapping
                    3.5. Business Environment Analysis
                        3.5.1. Industry analysis - Porter's
                            3.5.1.1. Supplier power
                            3.5.1.2. Buyer power
                            3.5.1.3. Substitution threat
                            3.5.1.4. Threat from new entrant
                            3.5.1.5. Competitive rivalry
                        3.5.2. PEST Analysis
                    3.6. Key Company Ranking Analysis, 2018

Chapter 4. Aircraft MRO Market: MRO Service Type Platform Estimates & Trend Analysis
                    4.1. Market Size Estimates & Forecasts, and Trend Analysis, 2015 to 2025 (USD Billion)
                    4.2. Service Type Movement Analysis & Market Share, 2018 & 2025
                        4.2.1. Engine Overhaul
                            4.2.1.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        4.2.2. Airframe Maintenance
                            4.2.2.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        4.2.3. Line Maintenance
                            4.2.3.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        4.2.4. Modification
                            4.2.4.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        4.2.5. Components
                            4.2.5.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)

Chapter 5. Aircraft MRO Market: Organization Type Estimates & Trend Analysis
                    5.1. Market Size Estimates & Forecasts, and Trend Analysis, 2015 to 2025 (USD Billion)
                    5.2. Organization Type Movement Analysis & Market Share, 2018 & 2025
                        5.2.1. Airline/Operator MRO
                            5.2.1.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        5.2.2. Independent MRO
                            5.2.2.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        5.2.3. Original Equipment Manufacturer (OEM) MRO
                            5.2.3.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)

Chapter 6. Aircraft MRO Market: Aircraft Type Estimates & Trend Analysis
                    6.1. Market Size Estimates & Forecasts, and Trend Analysis, 2015 to 2025 (USD Billion)
                    6.2. Aircraft Type Movement Analysis & Market Share, 2018 & 2025
                        6.2.1. Narrow-Body
                            6.2.1.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        6.2.2. Wide-Body
                            6.2.2.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        6.2.3. Regional Jet
                            6.2.3.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        6.2.4. Others
                            6.2.4.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)

Chapter 7. Aircraft MRO Market: Aircraft Generation Estimates & Trend Analysis
                    7.1. Market Size Estimates & Forecasts, and Trend Analysis, 2015 to 2025 (USD Billion)
                    7.2. Aircraft Generation Movement Analysis & Market Share, 2018 & 2025
                        7.2.1. Old Generation
                            7.2.1.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        7.2.2. Mid Generation
                            7.2.2.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)
                        7.2.3. New Generation
                            7.2.3.1. Market size estimates & forecasts, 2015 - 2025 (USD Billion)

Chapter 8. Aircraft MRO Market: Regional Estimates & Trend analysis
                    8.1. Regional Market Size Estimate & Forecast, 2015 - 2025 (USD Billion)
                    8.2. Regional Movement Analysis & Market Share, 2018 & 2025
                        8.2.1. North America
                            8.2.1.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                            8.2.1.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                            8.2.1.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                            8.2.1.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.1.5. U.S.
                                8.2.1.5.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.1.5.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.1.5.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.1.5.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.1.6. Canada
                                8.2.1.6.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.1.6.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.1.6.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.1.6.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                        8.2.2. Europe
                            8.2.2.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                            8.2.2.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                            8.2.2.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                            8.2.2.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.2.5. Germany
                                8.2.2.5.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.2.5.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.2.5.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.2.5.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.2.6. U.K.
                                8.2.2.6.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.2.6.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.2.6.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.2.6.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                        8.2.3. Asia Pacific
                            8.2.3.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                            8.2.3.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                            8.2.3.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                            8.2.3.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.3.5. China
                                8.2.3.5.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.3.5.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.3.5.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.3.5.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.3.6. India
                                8.2.3.6.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.3.6.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.3.6.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.3.6.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.3.7. Japan
                                8.2.3.7.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.3.7.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.3.7.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.3.7.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                        8.2.4. Latin America
                            8.2.4.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                            8.2.4.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                            8.2.4.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                            8.2.4.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.4.5. Brazil
                                8.2.4.5.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.4.5.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.4.5.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.4.5.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                            8.2.4.6. Mexico
                                8.2.4.6.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                                8.2.4.6.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                                8.2.4.6.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                                8.2.4.6.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)
                        8.2.5. MEA
                            8.2.5.1. Market estimates and forecast by service type, 2015 - 2025 (USD Billion)
                            8.2.5.2. Market estimates and forecast by organization type, 2015 - 2025 (USD Billion)
                            8.2.5.3. Market estimates and forecast by aircraft type, 2015 - 2025 (USD Billion)
                            8.2.5.4. Market estimates and forecast by aircraft generation, 2015 - 2025 (USD Billion)

Chapter 9. Competitive Landscape
                    9.1. Company Profiles
                        9.1.1. AAR
                            9.1.1.1. Company Overview
                            9.1.1.2. Financial Performance
                            9.1.1.3. Service Benchmarking
                            9.1.1.4. Recent Developments
                        9.1.2. Airbus S.A.S
                            9.1.2.1. Company Overview
                            9.1.2.2. Financial Performance
                            9.1.2.3. Service Benchmarking
                            9.1.2.4. Recent Developments
                        9.1.3. Delta TechOps
                            9.1.3.1. Company Overview
                            9.1.3.2. Financial Performance
                            9.1.3.3. Service Benchmarking
                            9.1.3.4. Recent Developments
                        9.1.4. Hong Kong Aircraft Engineering Company Limited
                            9.1.4.1. Company Overview
                            9.1.4.2. Financial Performance
                            9.1.4.3. Service Benchmarking
                            9.1.4.4. Recent Developments
                        9.1.5. KLM UK Engineering Limited
                            9.1.5.1. Company Overview
                            9.1.5.2. Financial Performance
                            9.1.5.3. Service Benchmarking
                            9.1.5.4. Recent Developments
                        9.1.6. Lufthansa Technik
                            9.1.6.1. Company Overview
                            9.1.6.2. Financial Performance
                            9.1.6.3. Service Benchmarking
                            9.1.6.4. Recent Developments
                        9.1.7. MTU Aero Engines AG
                            9.1.7.1. Company Overview
                            9.1.7.2. Financial Performance
                            9.1.7.3. Service Benchmarking
                            9.1.7.4. Recent Developments
                        9.1.8. Singapore Technologies Engineering Ltd
                            9.1.8.1. Company Overview
                            9.1.8.2. Financial Performance
                            9.1.8.3. Service Benchmarking
                            9.1.8.4. Recent Developments
                        9.1.9. TAP Maintenance & Engineering
                            9.1.9.1. Company Overview
                            9.1.9.2. Financial Performance
                            9.1.9.3. Service Benchmarking
                            9.1.9.4. Recent Developments
                        9.1.10. United Technologies
                            9.1.10.1. Company Overview
                            9.1.10.2. Financial Performance
                            9.1.10.3. Service Benchmarking
                            9.1.10.4. Recent Developments

List of Tables

Table 1 Global aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 2 Global aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 3 Global aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 4 Global aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 5 Key market driver impact
Table 6 Key market restraint impact
Table 7 Global aircraft engine overhaul market by region, 2015 - 2025 (USD Billion)
Table 8 Global airframe maintenance market by region, 2015 - 2025 (USD Billion)
Table 9 Global aircraft line maintenance market by region, 2015 - 2025 (USD Billion)
Table 10 Global aircraft modification market by region, 2015 - 2025 (USD Billion)
Table 11 Global aircraft components market by region, 2015 - 2025 (USD Billion)
Table 12 Global airline/operator aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 13 Global independent aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 14 Global OEM aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 15 Global narrow-body aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 16 Global wide-body aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 17 Global regional jet MRO market by region, 2015 - 2025 (USD Billion)
Table 18 Global other aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 19 Global old generation aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 20 Global mid generation aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 21 Global new generation aircraft MRO market by region, 2015 - 2025 (USD Billion)
Table 22 North America aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 23 North America aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 24 North America aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 25 North America aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 26 U.S. aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 27 U.S. aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 28 U.S. aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 29 U.S. aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 30 Canada aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 31 Canada aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 32 Canada aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 33 Canada aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 34 Europe aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 35 Europe aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 36 Europe aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 37 Europe aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 38 Germany aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 39 Germany aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 40 Germany aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 41 Germany aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 42 U.K. aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 43 U.K. aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 44 U.K. aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 45 U.K. aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 46 Asia Pacific aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 47 Asia Pacific aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 48 Asia Pacific aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 49 Asia Pacific aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 50 China aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 51 China aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 52 China aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 53 China aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 54 India aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 55 India aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 56 India aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 57 India aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 58 Japan aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 59 Japan aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 60 Japan aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 61 Japan aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 62 Latin America aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 63 Latin America aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 64 Latin America aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 65 Latin America aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 66 Brazil aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 67 Brazil aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 68 Brazil aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 69 Brazil aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 70 Mexico aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 71 Mexico aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 72 Mexico aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 73 Mexico aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)
Table 74 MEA aircraft MRO market by service type, 2015 - 2025 (USD Billion)
Table 75 MEA aircraft MRO market by organization type, 2015 - 2025 (USD Billion)
Table 76 MEA aircraft MRO market by aircraft type, 2015 - 2025 (USD Billion)
Table 77 MEA aircraft MRO market by aircraft generation, 2015 - 2025 (USD Billion)

List of Figures

Fig. 1 Market segmentation & scope
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Market formulation and data visualization
Fig. 6 Aircraft MRO market snapshot
Fig. 7 Market dynamics
Fig. 8 Market size and growth prospects, 2015 - 2025
Fig. 9 Value chain analysis
Fig. 10 Porter's analysis
Fig. 11 Penetration & growth prospect mapping
Fig. 12 Key company ranking analysis, 2018
Fig. 13 PEST analysis
Fig. 14 Service type market size estimates & forecasts and trend analysis, 2015 - 2025 (USD Billion)
Fig. 15 Service type movement analysis & market share, 2018 & 2025
Fig. 16 Organization type market size estimates & forecasts and trend analysis, 2015 - 2025 (USD Billion)
Fig. 17 Organization type movement analysis & market share, 2018 & 2025
Fig. 18 Aircraft type market size estimates & forecasts and trend analysis, 2015 - 2025 (USD Billion)
Fig. 19 Aircraft type movement analysis & market share, 2018 & 2025
Fig. 20 Aircraft generation market size estimates & forecasts and trend analysis, 2015 - 2025 (USD Billion)
Fig. 21 Aircraft generation movement analysis & market share, 2018 & 2025
Fig. 22 Regional market size estimates & forecasts and trend analysis, 2015 - 2025 (USD Billion)
Fig. 23 Regional movement analysis & market share, 2018 & 2025
Fig. 24 North America aircraft MRO market outlook and market share by country, 2018 & 2025 (USD Billion)
Fig. 25 Europe aircraft MRO market outlook and market share by country, 2018 & 2025 (USD Billion)
Fig. 26 Asia pacific aircraft MRO market outlook and market share by country, 2018 & 2025 (USD Billion)
Fig. 27 Latin America aircraft MRO market outlook and market share by country, 2018 & 2025 (USD Billion)