Market Overview

Digital MRO Market size is Anticipated To Reach At USD 1,809 Million By 2030, At A CAGR Of 11.6% From 2020 To 2030

Global digital MRO market forecast size is growing rapidly due to rising investments in connected aircraft and the adoption of advanced technologies by MRO providers. Additionally, growth in outsourcing of MRO services is also expected to drive the growth of the market.

Market Segmentation

Extensive research has been conducted on the Digital MRO Market Size, which has been segmented by Technology, Application, and End User.

Based on technology, the digital MRO market has been segmented into predictive maintenance, AR/VR, 3D printing, blockchain, Internet of Things, artificial intelligence, big data analytics, robotics, and digital twin. The predictive maintenance segment is expected to dominate the market, registering an estimated USD 210.70 million valuations in 2019. The segment is also expected to register the highest CAGR of 11.36% during the forecast period.

By application, the digital MRO market has been classified into the predictive analysis, inspection, performance monitoring, part replacement, mobility & functionality. The mobility & functionality segment is expected to exhibit the highest CAGR of 14.97% during the forecast period.

Based on end user, the digital MRO market has been bifurcated into airlines, MRO providers, and OEMs. The airline segment is expected to hold the largest market share and was valued at USD 355.68 Million in 2019.

Key players:

The digital MRO market drivers Boeing (US), IBM Corporation (US), HCL Technologies Limited (India), SAP SE (Germany), Ramco Systems Limited (India), Oracle Corporation (US), IFS AB (Sweden), TRAXXALL TECHNOLOGIES (Canada), Honeywell International Inc. (US), and General Electric (US).

Regional Classification

North America is expected to lead the market, with a valuation of USD 277.07 million in 2019. The regional market value is projected to reach USD 621.04 million by 2027 at 12.93% CAGR during the forecast period. The US and Canada are the key country-level markets in North America. The regional market growth is primarily driven by the high demand for services from the market players based in the US and Canada. It is expected that approximately 10,000 aircraft would be in service in the region by 2035, which is likely to create additional opportunities for the players operating in the digital MRO market size in North America.

Europe is expected to be the second-largest market with an estimated value of USD 203.65 million in 2019 and a projected value of USD 398.06 million by 2027, registering an 11.01% CAGR during the forecast period. The European digital MRO market includes the UK, Germany, France, Italy, and the rest of Europe. The presence of prominent MRO companies such as Air France Industries KLM Engineering & Maintenance, Lufthansa Technik, MTU Aero Engines AG, Rolls-Royce PLC, and Safran are driving market growth in the region. Moreover, due to the increasing number of aircraft, there will likely be an increased requirement for digital MRO systems and solutions in the region.

Asia-Pacific accounted for the third-largest market share in 2019. The region is expected to be the fastest-growing market for digital MRO during the review period. The Asia-Pacific digital MRO market covers China, Japan, India, Australia, and the rest of Asia-Pacific. The region is gaining prominence in the aviation industry and is projected to become the world’s leading market for air travel. Additionally, according to Airbus SAS, by 2035, it is expected that more than 16,000 aircraft would be delivered in Asia-Pacific, which is expected to drive the growth of the regional market. The regional digital MRO market is expected to reach USD 464.30 million by 2027.

The digital MRO market in the Middle East & Africa is expected to reach a valuation of USD 126.18 million by 2027. The regional market growth is significantly driven by the presence of major countries, such as the UAE, Saudi Arabia, and Israel. The region has witnessed notable economic growth in the past few years. One of the major factors driving the economy in the region is increased air travel. The demand for digital MROs is expected to increase due to the rapid increase in the number of aircraft in the region.

The digital MRO market in Latin America is expected to reach a valuation of USD 88.65 million by 2027. The regional market growth is significantly driven by the presence of major countries, such as Brazil, Mexico, and Argentina. The demand for digital MRO is expected to increase due to the rapid increase in the number of low-cost airlines in the region.

Key Industry Developments

• In September 2019, Boeing announced agreements with leading Asia-Pacific airlines to support customers in the region. Its digital and supply chain solutions help enhance airline crew situational awareness and provide cost savings across fleet-wide operations.
• In January 2018, HCL Technologies announced that it signed a global reseller agreement with NYSE-listed software giant SAP SE. As per the agreement, SAP SE will resell the HCL maintenance, repair, and overhaul (MRO) solution under the brand name—SAP Enterprise Asset Management.

Related reports:

Military Radar Systems Market Research Report : Information by Platform (Airborne, Naval, Land, and Space), Component (Antenna, Transmitter, Receiver, Duplexer, Display, Stabilization System and Digital Signal Processor), Dimension (2D, 3D, and 4D), Frequency (VHF/UHF, L-Band, S-Band, C-Band, X-Band, and Ku/K/Ka Band), Range(Long, Medium, Short, and Very Short),  type, application and region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America) - Forecast to 2030

Global Early Warning Radars Market Research Report: by type (air interception radars, bombing radars, navigation radars, and others), range (short range, medium range, and long range), dimension (2D, 3D, and 4D), application (attack, defense, surveillance, collision avoidance, and others), end use (Navy, Army, and Air Force), and Region (North America,  Europe, Asia-Pacific, Latin America and the Middle East and Africa) - Forecast to 2027

About Market Research Future:

Market Research Future (MRFR) is a market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions

Contact:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor, New York, New York 10013,

United States of America

+1 646 845 9312

Email: [email protected]