Digital MRO - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Digital Maintenance, Repair, and Overhaul (MRO) Market is accounted for $0.86 billion in 2018 and is expected to reach $3.39 billion by 2027 growing at a CAGR of 16.5% during the forecast period. Factors such as growing adoption of Software-As-A-Service (SaaS), implementation of AR/VR in the aerospace industry and rising need for replacing legacy aviation management information systems are fuelling the market growth. However, the high cost of acquisition of an integrated MRO software suite is hampering the market.
Digital Maintenance, Repair, and Overhaul (MRO) include digitalization of MROs. It includes cloud or system-based software used to coordinate, monitor, and improve all processes related to aircraft maintenance, repair, and overhaul. Digital MRO software comprises various functions that include aircraft handling, safety & security services, workforce management, sales & marketing, and hangar operations, which are enhanced with the use of analytics.
Amongst technology, the predictive maintenance segment is projected to have significant growth during the forecast period. Increasing adoption of digital solutions such as digital twin and advanced analytical software for predicting failure by tier-one MROs and airlines is expected to drive the market for predictive maintenance. This will decrease the aircraft downtime and inventory sourcing time for MROs.
By Geography, North America is likely to have a huge demand due to increasing aircraft deliveries in the region. Many large and medium MROs and airlines are present in this region. Also, the increase in the MRO services and digital transformation of MROs is expected to drive the demand for digital MRO in the region.
Some of the key players in global Digital Maintenance, Repair, and Overhaul (MRO) market are Capgemini, International Business Machines (IBM), Ansys, Lufthansa Technik, Hexaware, IFS, Boeing, SAP SE, Traxxall, General Electric (GE), Ramco Systems, Honeywell, Winair, Swiss Aviation software, and Rusada.
• Augmented Reality / Virtual Reality (AR/VR)
• Digital Twin
• Predictive Maintenance
• 3D Printing
• Artificial Intelligence
• Big Data Analytics
• Internet of Things (IoT)
• Other Technologies
• Aluminium Tapping Screw
• Aluminium Nuts
• Aluminium Washers
• Aluminum Countersunk Screws
• Aluminum Screws
• Aluminium Bolts
• Part Replacement
• Predictive Analysis
• Mobility & Functionality
• Performance Monitoring
End Users Covered:
• Original Equipment Manufacturers (OEMs)
• Maintenance, Repair, and Overhaul (MROs)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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