Onboard Maintenance Systems Market Estimated to Record Highest CAGR by 2028

Posted by Arslan on September 30th, 2019

Maintenance continues to be the most critical and expensive task across any industry, irrespective of the nature or the size. Industry operators remain highly invested in new technologies that simplify the process of maintenance and reduce associated costs. Demand for onboard maintenance systems is treading on an ever-increasing path as industry operators seek effective solutions for seamless maintenance management. This, in turn, is estimated to create sustained opportunities for the key stakeholders in the Onboard Maintenance Systems Market in the forthcoming years.

Onboard maintenance systems enable industry operators to plan and perform seamless maintenance at regular vessels that comply with manufacturers’ and end-users’ requirements. The sole objective of maintenance is to ensure reliable and safe equipment, which continues to be of primary importance for the industry operators. Deployment of onboard maintenance systems is determined by the nature and complexity of end-use applications. A versatile onboard maintenance system helps industry operators with a logical risk assessment, which, in turn, saves these industries from unwanted risks and subsequent challenges.

Onboard Maintenance Systems Market- Novel Developments

Manufacturers in the onboard maintenance systems market focus on development and launch of new products in sync with the latest market trends. Moreover, companies operating in the onboard maintenance systems market are also making headway with strategic collaborations to fuel growth via combined expertise and attain long-term profitability.

In 2018, Jotun - a leading company dealing in decorative paints & performance coatings - announced the launch of an innovative solution namely ‘SeaStock Management Solution’ capable of bringing predictability, optimal quality, and simplicity for the marine onboard maintenance. SeaStock Management Solution is capable of offering effective onboard maintenance via full ordering & logistics, condition surveys, crew education, and business & technical reviews and first-of its-kind available in the market.

In 2018, Thales Group - a leading company that designs and provides electrical systems – teamed up with two SMEs to offer onboard systems for three lines i.e. 15, 16, and 17 of the Grand Paris Express metro system. As passengers lie at the heart of the project of ‘Grand Paris Express’, the onboard systems offered by Thales and its partners will be instrumental in offering highest levels of safety and comfort for the security services as well as maintenance teams.

Onboard Maintenance Systems Market- Increasing Demand from Aviation Industry to Propel Growth

Onset of a new era of robust automation, digitization, and data exchange across multiple industries, including aviation, is likely to introduce drastic transformations. With the aviation industry focusing on improvement of key performance areas, aspects like safety improvement and effective management hold utmost importance. Being an industry wherein operational efficiency remains uncompromisable, the aviation industry is heavily investing in deployment of onboard maintenance systems to enable well-structured preventive maintenance.

The onboard maintenance systems hold an edge over conventional maintenance systems as they offer real-time data, which makes predictive maintenance highly effective and prevents unfavorable circumstances. Predictive maintenance offers numerous benefits in terms of avoiding accidents and extending the lifetime of aircrafts via effective anticipation. Moreover, onboard maintenance systems also help in enhancing turnaround times, reducing fuel costs, and boost efficiency.  

Onboard Maintenance Systems Market- Rising Demand from Waterborne Transport Spurs Market Potential

Effective maintenance is an integral part of successful maritime management. According to the International Safety Management Code (ISM), a planned maintenance system is mandatory and compulsory on ships. A planned and effective maintenance framework not only helps comply with environmental and safety objectives laid out, but is also an effective investment for optimization and protection of the valuable assets.

Maintenance of ships entails involvement of considerable manpower and significant amount of time, which may not be always available as the number of machines involved are huge, which makes it practically impossible to oversee maintenance on the manual level. This is the scenario wherein effectiveness of onboard maintenance systems come to the fore, making it a viable investment in the maritime or waterborne transport landscape.

Onboard Maintenance Systems Market- Manufacturers Focus on Product Developments Well-Aligned with Evolving End User Requirements

Manufacturers operating in the onboard maintenance systems market are vying to offer industry-proven offerings complying with the regulatory requirements. Moreover, companies operating in the onboard maintenance systems market are also focusing on the fact that their products are designed in a way that they are well-aligned with the evolving end-user needs.  

Moreover, manufacturers in the onboard maintenance systems market are also investing in research and development to bring new findings to the fore and incorporate the same in the new products lined up for roll out. While research and development continues to be highly instrumental in development of new products or adding new features to existing products, it also enables the manufacturers in the onboard maintenance systems to win profits via high market participation. 

The research report presents a comprehensive assessment of the onboard maintenance systems market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on onboard maintenance systems market provides analysis and information according to onboard maintenance systems market segments such as geographies, application and industry.

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