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China's thriving aviation market and its lower labor rates have created opportunities for the nation to become a potential aircraft maintenance, repair and overhaul (MRO) hub, industry analysts have said.

The country has become an attractive market for MRO players, both local and foreign firms, since domestic carriers pledged to triple their current fleet size in the next two decades and international airlines opened more services to the world's fastest growing aviation market.

"China's lower labor costs and its fast expanding aviation market are driving demand for quality MRO services, which are expected to witness a big boost in the coming years," said Ji Lijun, an analyst with Shanghai Securities.

The global MRO market was valued at US$37 billion in 2005 and the size will be expanded to US$55 billion in 2015, according to forecasts by Team SAI Consulting. Demand for MRO will grow by an annual three to four percent, it said.

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