We are monitoring the impact of COVID-19 & Recession alarm on Digital MRO Market Get in touch with us for detailed analysis Know More

Know More

Share on

Digital MRO Market Segmentation By Technology (Predictive Maintenance, AR/VR, 3D Printing, Artificial Intelligence, Internet of Things, Robotics, Others), By Application (Inspection, Monitoring, Part Replacement), By End-User (Aircraft OEMs, Engine OEMs, MRO Service Providers, Airlines) and Geography – Forecast to 2027

Published: January, 2022
ID: 10822
Pages: 175

Digital MRO Market Size, Trends, and Forecast 2026:

Digital MRO Market is predicted to increase from $ 606 million in 2021 to arrive at $ 1,209 million by 2026, recording a CAGR of 11.6% over the projection period from 2022 - 2027.

The aerospace industry is continually experiencing significant progress in the development of advanced technologies. Aircraft manufacturers, engine manufacturers, MRO service providers, and various airlines are constantly on the lookout for robust technologies to streamline their manufacturing and maintenance operations. The digital MRO market is finding increased call in various developed nations because of the financial balance, talented resources, and adaptability. A similar trend is expected to be seen among end-users in developing countries which is expected to drive the growth rate of the digital MRO market.

The digitization of maintenance, repair, and overhaul (MRO) operations will soon become the norm in civil aviation around the world. The momentum of the digital MRO market stems from this. OEMs and MROs have a variety of technologies that they have leveraged to enhance maintenance planning and execution capabilities and improve asset availability at multiple levels. A wide variety of technologies for augmented and virtual reality, additive manufacturing, big data analytics, and artificial intelligence have been added to digital solutions from MRO. Various MRO services are gaining ground in the global digital MRO market to reduce response time and dramatically increase overall aviation operational efficiency.

Impact of COVID-19 on Digital MRO Market:

The digital MRO market includes major players like Boeing (United States), General Electric (United States), Lufthansa Technik (Germany), SAP (Germany), and IBM (United States), which have extended their reach to several countries in the regions of North America, Europe, Asia-Pacific, Middle East, Africa, and South America. Coronavirus had an impact on their businesses, and it is estimated that the pandemic could affect digital MRO services by 30-40% globally in 2020.

The rapid spread of COVID-19 in Europe, the United States, and Asia-Pacific have led to a significant drop in demand for digital MRO globally, with a corresponding reduction in revenues for various digital MRO service providers in every country markets due to delays in delivery and shutdown of production and the limited availability of equipment. According to industry experts, global digital MRO demand is supposed to fully recover by 2023.

Recent Developments:

• In July 2020, GE Digital presented the latest updates to its industry-leading digital plant software portfolio: Proficy Plant Applications, Proficy Operations Hub, Proficy Historian, and Proficy CSense. The updated version of GE Digital's factory operating software enables continuous improvement and optimization for the aviation industry.

• In June 2019, Capgemini and Airbus signed an agreement to develop and offer the data services of the Skywise platform to airlines.

• In November 2018, Honeywell International shook hands with Hainan Airlines for the connected maintenance services of its GoDirect.

• In June 2019, IFS procured a deal from Revima to support the latter’s international expansion and offer its assistance in its dense maintenance operations.

• In April 2019, JetBlue Airways came to an agreement with Lufthansa Technik for its Maintwise, a newly developed engineering consultancy service of the company.

Digital MRO Market Growth and Trends:

MROs must meet all regulatory requirements while reducing the schedule and cost of aircraft maintenance. This reinforces the demand for software solutions to improve operational efficiency. Large MROs are investing in new technologies like AI, blockchain, and the digital twin to reduce maintenance costs and aircraft downtime.

The growth in artificial intelligence in the digital MRO market can be attributed to the growing demand for predictive maintenance, part failure analysis, and troubleshooting. IBM has developed artificial intelligence-based software to increase workflow agility.

Digital MRO Market Drivers and Limitations:

The global digital MRO market is catalyzed by the growing demand for technologically advanced solutions to perform aircraft maintenance, repair, and overhaul activities. Taking into account, factors such as the continued evolution of robust aerospace technologies, the adoption of robotics in the aerospace industry, and the implementation of AR / VR in the aerospace industry, the digital MRO market is expected to proliferate robustly throughout the following years. Also, the demand to replace traditional mechanisms with modern technologies for MRO aircraft is driving the growth of the worldwide digital MRO market. The rising trend of adoption of the Internet of Things, Big Data, and Artificial Intelligence among airlines and MRO service providers in financially emerging countries is foreseen to drive the digital MRO business in the future.

The surge in the digitization of MROs to offer improved efficiency and decrease downtime of aircraft is acting as a pivotal element that is estimated to promote the expansion of the global digital MRO market. However, limited budgets restricting MRO adoption are holding back the developments in this market to some extent.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2022 - 2027

CAGR

11.6%

Segments Covered

Technology, Application, End-user

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

IBM Corporation (USA), IFS (Sweden), Ramco Systems (India), Rusada (Switzerland) SAP (Germany), Swiss Aviation Software (Switzerland), Lufthansa Technik (Germany), General Electric (United States), Boeing (United States) and Honeywell International (United States).

Digital MRO Market segmentation:

The global digital MRO market is segmented based on technology, application, and end-user.

Based on technology, the digital MRO market is separated as Predictive Maintenance, AR/VR, 3D Printing, Artificial Intelligence, Internet of Things, Robotics, and others. Of these, the artificial intelligence segment of the market is expected to grow at the highest CAGR during the forecast period.

By application, the digital MRO market is segregated as inspection, monitoring, and parts replacement.

Depending on the end-user, the worldwide digital MRO business is divided mainly into Aircraft OEM, Engine OEM, MRO Service Provider, and Airlines. Among these, the MRO service provider segment is expected to grow at the highest CAGR from 2021 to 2030.

Regional Analysis:

Based on the region, the global digital MRO market is separated into the regions of North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. Among these, the North American market accounts for a significant portion of the worldwide market due to the presence of leading market players and increasing investments in the research and development of novel technologies. Europe and the Asia Pacific also recorded a notable share in this industry, which is foreseen to expand steadily in the coming days.

Key market players:

Some of the main players in the global digital MRO market are IBM Corporation (USA), IFS (Sweden), Ramco Systems (India), Rusada (Switzerland) SAP (Germany), Swiss Aviation Software (Switzerland), Lufthansa Technik (Germany), General Electric (United States), Boeing (United States) and Honeywell International (United States).

1. Introduction                 

                1.1 Market Definition    

                1.2 Scope of the report

                1.3 Study Assumptions 

                1.4 Base Currency, Base Year and Forecast Periods          

2. Research Methodology                           

                2.1 Analysis Design         

                2.2 Research Phases      

                                2.2.1 Secondary Research

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling

                                2.2.4 Expert Validation

                2.3 Study Timeline          

3. Report Overview                        

                3.1 Executive Summary

                3.2 Key Inferencees       

4. Market Dynamics                       

                4.1 Impact Analysis         

                                4.1.1 Drivers

                                4.1.2 Restaints

                                4.1.3 Opportunities

                4.2 Regulatory Environment       

                4.3 Technology Timeline & Recent Trends            

5. Competitor Benchmarking Analysis                    

                5.1 Key Player Benchmarking     

                                5.1.1 Market share analysis

                                5.1.2 Products/Service

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape      

                5.3 Joint Ventures & Collaborations        

6. Market Segmentation                              

                6.1 Digital MRO Market, By Technology 

                                6.1.1 Predictive Maintenance

                                6.1.2 AR/VR

                                6.1.3 3D Printing

                                6.1.4 Artificial Intelligence

                                6.1.5 Internet of Things

                                6.1.6 Robotics

         6.1.7 Market Size Estimations & Forecasts (2022 - 2027)

                                6.1.8 Y-o-Y Growth Rate Analysis

                                6.1.9 Market Attractiveness Index

                6.2 Digital MRO Market, By Application 

                                6.2.1 Inspection

                                6.2.2 Monitoring

                                6.2.3 Part Replacement

         6.2.4 Market Size Estimations & Forecasts (2022 - 2027)

                                6.2.5 Y-o-Y Growth Rate Analysis

                                6.2.6 Market Attractiveness Index

                6.3 Digital MRO Market, By End-User     

                                6.3.1 Aircraft OEMs

                                6.3.2 Engine OEMs

                                6.3.3 MRO Service Providers

                                6.3.4 Airlines

        6.3.5 Market Size Estimations & Forecasts (2022 - 2027)

                                6.3.6 Y-o-Y Growth Rate Analysis

                                6.3.7 Market Attractiveness Index

7. Geographical Landscape                         

                7.1 Global Identity Governance and Administration Market, by Region  

                7.2 North America - Market Analysis (2021- 2027)            

                                7.2.1 By Country                            

                                7.2.2 By Technology

                                7.2.3 By Application

                                7.2.4 By End-User

                7.3 Europe         

                                7.3.1 By Country

                                7.3.2 By Technology

                                7.3.3 By Application

                                7.3.4 By End-User

                7.4 Asia Pacific  

                                7.4.1 By Country                              

                                7.4.2 By Technology

                                7.4.3 By Application

                                7.4.4 By End-User

                7.5 Latin America             

                                7.5.1 By Country                              

                                7.5.2 By Technology

                                7.5.3 By Application

                                7.5.4 By End-User

                7.6 Middle East and Africa           

                                7.6.1 By Country

                                7.6.2 By Technology

                                7.6.3 By Application

                                7.6.4 By End-User

8. Key Player Analysis                    

                8.1 IBM Corporation      

                                8.1.1 Business Description

                                8.1.2 Products/Service

                                8.1.3 Financials

                                8.1.4 SWOT Analysis

                                8.1.5 Recent Developments

                                8.1.6 Analyst Overview

                8.2 Ramco Systems        

                8.3 Rusada         

                8.4 SAP SE          

                8.5 Swiss Aviation Software        

                8.6 IFS  

                8.7 Lufthansa Technik   

                8.8 General Electric        

                8.9 Boeing          

                8.10 Honeywell International     

9. Market Outlook & Investment Opportunities                

Appendix                           

                List of Tables     

                List of Figures   

  1. Global Digital MRO Market By Region, From 2022 - 2027 ( USD Billion )
  2. Global Digital MRO Market By Technology, From 2022 - 2027 ( USD Billion )
  3. Global Predictive Maintenance Market By Region, From 2022 - 2027 ( USD Billion )
  4. Global AR/VR Market By Region, From 2022 - 2027 ( USD Billion )
  5. Global 3D Printing Market By Region, From 2022 - 2027 ( USD Billion )
  6. Global Artificial Intelligence Market By Region, From 2022 - 2027 ( USD Billion )
  7. Global Internet of Things Market By Region, From 2022 - 2027 ( USD Billion )
  8. Global Robotics Market By Region, From 2022 - 2027 ( USD Billion )
  9. Global Digital MRO Market By Application, From 2022 - 2027 ( USD Billion )
  10. Global Inspection Market By Region, From 2022 - 2027 ( USD Billion )
  11. Global Monitoring Market By Region, From 2022 - 2027 ( USD Billion )
  12. Global Part Replacement Market By Region, From 2022 - 2027 ( USD Billion )
  13. Global Digital MRO Market By End-User, From 2022 - 2027 ( USD Billion )
  14. Global Aircraft OEMs Market By Region, From 2022 - 2027 ( USD Billion )
  15. Global Engine OEMs Market By Region, From 2022 - 2027 ( USD Billion )
  16. Global MRO Service Providers Market By Region, From 2022 - 2027 ( USD Billion )
  17. Global Airlines Market By Region, From 2022 - 2027 ( USD Billion )

Please wait. . . . Your request is being processed

PURCHASE OPTIONS

pdf
$

4255


pdf excel
$

5060


pdf excel powerbi
$

7360


excel
$

2500

What You Get :

  • PDF Report Format.
  • Can be accessible by 1 single user.
  • 6 Months of Free Analyst Support.
  • PDF and Excel Datasheet Formats.
  • Can be accessible upto 2 to 5 users.
  • 1 Year of Free Analyst Support.
  • PDF, Excel and Power BI Dashboard.
  • Can be accessible by unlimited users.
  • 1 Year of Free Analyst Support.
  • Excel Datasheet Format.
  • Customized access as per user request.
  • Upgradable to other licenses.
customer-support
ASK FOR CUSTOMIZATION

Talk to our analyst and get customised report done according to your research needs

tag
INQUIRE FOR DISCOUNT

Check if you can avail any discount. Submit your details and our team will get back to you.

cloud-download
DOWNLOAD FREE SAMPLE

Request to avail a free sample report that reflects this market and its growth.

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 4255

Didn’t find what you’re looking for?
TALK TO OUR TEAM

Find it too expensive?
NO WORRIES!

Click for Request Sample