The aircraft maintenance centers in Latin America have limited portfolios of services; this is a factor that restricts the growth of air transport in the region. Therefore is necessary to develop new maintenance, repair and overhaul (MRO) services for aircraft and their components in those centers. New Product Development (NPD) process theory has received substantial attention in the last decade but there is little literature on the New Services Development (NSD), and papers dealing directly with services portfolio management are even scarcer. The existing literature is not holistic enough to deal with maintenance services portfolio management. Therefore this paper aims to develop a services portfolio management (SPM) for aircraft components maintenance. The SPM model development will be done using the action research approach trough the creation of knowledge in continuous PDCA cycles. During the creation of the specific model, were used as knowledge base reference models of PDP and PDS, later adapted to the reality of services to the region and type of industry. The action research began in pre contextualization phase, followed by four cycles, and each cycle a stage of the model was developed and evaluated, resulting in a specific model of portfolio management for MRO Brazilian aeronautics industry. At the end of cycles an evaluation process created by means of a questionnaire. Survey participants rated the method as proper development of the model, the model itself also rated as adequate.
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