The Digital MRO Market is projected to grow at a CAGR 10.29% rate from 2021 to 2026. Factors such as increasing digitalization of MRO activities by commercial airlines and MROs and the rising demand for enhancing the repair and maintenance operations of existing aircraft fleet are expected to fuel the digital MRO market.
Based on end user, the MROs segment is projected to grow at the highest CAGR from 2019 to 2030. MROs must fulfil all the regulatory requirements while reducing the timeline and cost of aircraft maintenance. This is enhancing the demand for software solutions to smoothen the operational efficacy. Large MROs are investing in new technologies such as AI, blockchain, and digital twin to reduce maintenance cost and aircraft downtime. This, in turn, is projected to drive the MROs segment in the digital MRO market.
Based on technology, the artificial intelligence segment of the market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for predictive maintenance, part failure analysis, and troubleshooting. IBM has been developing AI-based software for increasing agility in the workflow.
The North America digital MRO market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing aircraft deliveries in the region. Many large and medium MROs and airlines are present in this region. Also, increase in the MRO services and digital transformation of MROs is expected to drive the demand for digital MRO in the region.
The major players in the digital MRO market are IBM Corporation (US), IFS (Sweden), Ramco Systems (India), Rusada (Switzerland). SAP (Germany), Swiss AviationSoftware (Switzerland), Lufthansa Technik (Germany), General Electric (US), Boeing (US), and Honeywell International (US). These companies are supplying advanced digital MRO solutions. These players have adopted various growth strategies as contracts, acquisitions, expansions, new product launches, and partnerships & agreements to further expand their presence in the market.
Key Questions Addressed by the Report
- What are your views on the growth perspective of the digital MRO market? What are the key dynamics, such as drivers, opportunities, and trends that govern the market?
- What are the key sustainability strategies adopted by leading players operating in the market?
- What are the new emerging technologies and use cases disrupting the aviation MRO industry?
- What are the applications wherein digital MRO solutions play a significant role?
- What are the key trends and opportunities in the market across different regions and their respective countries?
- Who are the key players and innovators in the ecosystem of the market?
- Which supplier is expected to hold the largest market share in 2019?
- How is the competitive landscape changing in the client ecosystem and impacting revenue of companies?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Increasing Demand for Predictive, Prescriptive, and Condition-Based Maintenance Through Data Shared By Connected Aircraft
3.1.2.Growing Adoption of Software-As-A-Service (SaaS)
3.1.3.Rising Need for Replacing Legacy Aviation Management Information Systems
3.2.1.High Cost of Acquisition of Integrated MRO Software Suite
3.2.2.Lack of A Common Data Standard
3.2.3.Compliance With Stringent Aviation Regulations
3.2.4.Increasing Digitalization Will Require Investments in Cybersecurity
3.3.1.Increasing Adoption of Internet of Things (IoT), Artificial Intelligence (AI), Blockchain, Augmented Reality (AR), and Big Data Analytics By MROs
3.3.2.Growing Demand for 3D-Printed Parts and Robotic Inspection
4. Industry Trends
4.1. Internet of Things (IoT)
4.2. Prescriptive Maintenance
4.3. Augmented Reality
4.4. Blockchain Application in MRO
4.5. Cloud Technology
4.6. Advanced Analytics and Digital Transformation
4.7. Data Routing
4.8. Artificial Intelligence
5. Executive Summary
6. Digital MRO Market, By Type
6.2.2.Rigid removable tanks
7. Digital MRO Market, By Technology
7.1. Predictive Maintenance
7.3. 3D Printing
7.5. Artificial Intelligence
7.7. Data Analytics
7.8. Digital Twin
7.9. Internet of Things
8. Digital MRO Market, By Application
8.2. Performance Monitoring
8.3. Predictive Analysis
8.4. Part Replacement
8.5. Mobility and Functionality
9. Digital MRO Market, By End User
10. Digital MRO Market, By Region
10.1. North America
10.3. Asia Pacific
10.4. Rest of the World
10.4.1. Latin America
10.4.2. Middle East
11. Company Profiles
11.1. Leading Companies in Digital MRO Market
11.1.5. General Electric (GE)
11.1.9. International Business Machines (IBM)
11.1.10. Lufthansa Technik
11.2. Other Companies in Digital MRO Market
*Company introduction, financial information, recent developments, SWOT analysis
12. Conclusion and Recommendations
13.2. Related Reports