DUBLIN, May 18, 2023 /PRNewswire/ — The “Global Digital MRO Market Size, Trends, By Technology, By Application By End-User, By Region: Growth Opportunity Analysis and Industry Forecast, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The Global Digital MRO Market was valued at USD 0.8 billion in 2022 and is expected to expand to USD 2.2 billion by 2030, at a CAGR of 9.05% during the forecast period 2023-2030.
The digital aircraft maintenance repair & overhaul (MRO) business is approaching substantial growth soon, but aerospace firms that provide such services should navigate an often-unpredictable landscape to thrive in this digital era. The usage of digital technologies such as the Internet of Things, blockchain, AI, robotics, AR/VR, digital twins, and 3D printing to perform MRO operations are termed digital MRO.
The objective of MRO services is to ensure that departments always have the materials they need to be effective. Maintaining essential supplies on hand accomplishes company goals, including reducing downtime, growing safety, extending equipment life, decreasing overstocks, and protecting consumer deliveries.
Market Drivers
The increase in the digitalization of MRO to increase efficiency and reduce aircraft downtime is the essential factor that is anticipated to fuel the growth of the digital MRO market. Also, the increasing replacements of hydraulic braking systems in many vehicles will boost the market during the forecast period.
Furthermore, the development and enhanced innovative technologies and their usage for the performance of a wide variety of maintenance activities are likely to have significant growth in the market.
Market Restraints
However, limited budgets by various governments for the adoption of MRO will restrain the growth of the Global Digital MRO Market. Also, factors such as the high installation cost of MRO software, strict regulations, and authority restrictions may hamper the market. Further, it is crucial to ensure that the technologies are implemented responsibly and with proper consideration for potential ethical and privacy concerns.
Key Players
Various key players are discussed in the Global Digital MRO Market report including; Lufthansa Technik, The Boeing Company, Airbus, IBM corporations, Air France and KLM Engineering, ST Aerospace, SIA Engineering, Honeywell, General Electric, RAMCO Systems, and Others.
For instance, in February 2021, GMR Group signed a Memorandum of Understanding (Mou) with Airbus which was likely to navigate them to explore the opportunities across the aviation sector. The services included component training, aircraft maintenance, and airport & digital services.
Market Taxonomy
By Technology
- Predictive Maintenance
- AR/VR
- 3D Printing
- Blockchain
- Artificial Intelligence
- Robotics,
- Big Data Analytics
- Digital Twin
- IOT
By Application
- Inspection
- Performance Monitoring
- Predictive Analysis
- Part Replacement
- Mobility & Functionality
By End-User
- MROs
- Airlines
- OEMs
By Region
- North America
- U.S
- Canada
- Mexico
- Latin America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
- Europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Singapore
- Malaysia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Tanzania
- Rest of The Middle East & Africa
Key Question Addressed by the Report
- What are the Key Opportunities in the Global Digital MRO Market?
- What will be the growth rate from 2023 to 2030?
- Which segment/region will have the highest growth?
- What are the factors that will impact/drive the Market?
- What is the role of key players in the value chain?
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Digital MRO Market Outlook
5 Global Digital MRO Market, By Technology
6 Global Digital MRO Market, By Application
7 Global Digital MRO Market, By End-User
9 North America Digital MRO Market Analysis and Forecast (2023-2030)
10 Europe Digital MRO Market Analysis and Forecast (2023-2030)
11 Asia Pacific Digital MRO Market Analysis and Forecast (2023-2030)
12 Latin America Digital MRO Market Analysis and Forecast (2023-2030)
13 Middle East Digital MRO Market Analysis and Forecast (2023-2030)
14 Competitive Analysis
15 Company Profiles
Companies Mentioned
- Lufthansa Technik
- The Boeing Company
- Airbus
- IBM corporations
- Air France and KLM Engineering
- ST Aerospace
- SIA Engineering
- Honeywell
- General Electric
- RAMCO Systems
For more information about this report visit https://www.researchandmarkets.com/r/5357dw
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