Digital MRO
Market Worth $4.7 Billion by 2030 - Exclusive Report by MarketsandMarkets™
New York, NY, Jan-23, 2020 / (Aerospace
NEWS)--
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.
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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.
Browse in-depth TOC on "Digital MRO
Market"
68 – Tables
41 – Figures
152 – Pages
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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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