Digital MRO Market - Evolving Industry Trends and key Insights by 2030
Posted by Akshata Sharma on February 18th, 2020
Digital MRO Market Worth .7 Billion by 2030
According to the new market research report "Digital MRO Market by Technology (Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin, IOT), End User (MROs, Airlines, OEMs), Application, Region - Global Forecast to 2030", published by MarketsandMarkets™, the Digital MRO Market is projected to grow from USD 1.0 billion in 2019 to USD 4.7 billion by 2030, at a CAGR of 14.6% from 2019 to 2030. This growth can be attributed to the increasing adoption of advanced solutions by small and medium airlines and MROs.
Based on technology, the predictive maintenance segment is projected to lead the digital MRO market during the forecast period.
Based on technology, the predictive maintenance segment is projected to lead the digital MRO market from 2019 to 2030. 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.
Based on end user, the MROs segment is projected to lead the digital MRO market from 2019 to 2030.
Based on end user, the MROs segment is projected to lead the digital MRO market during the forecast period. Large MROs have been investing in digital transformation with the help of technologies such as digital twin, artificial intelligence, blockchain, etc. Due to the demand for workflow efficiency and reducing aircraft downtime, the MROs segment is expected to lead the market during the forecast period.
The North American region is projected to hold high growth potential for digital MRO during the forecast period.
The digital MRO market in the North American region is expected to witness substantial growth during the forecast period. Many MROs are opting for digitalizing their services in this region. They are adopting advanced technologies such as robotics, digital twin, blockchain, artificial intelligence, etc., to optimize complex repair and maintenance tasks.
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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).
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About the AuthorAkshata Sharma
Joined: July 22nd, 2019
Articles Posted: 107
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