The Digital MRO Market size was valued at USD 2.22 Bn in 2022 and is expected to reach USD 6.85 Bn by 2030, and grow at a CAGR of 15.13% over the forecast period 2023-2030.
The market is driven by the advance digital technology adoption like Machine Learning, Artificial Intelligence, Internet of Things, Argument Reality, and Big-data analytic by MRO in aviation sector. New technoloy helps to improve better management, analyse function and implementation on MRO. It will helps aviation sector in reduction of inventory upto 30%, cost cutting up to 15% to 20%.
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Digital data capture and retention of records in the form of manuals, logbooks, flight plans, aircraft maintenance monitoring reports, record books to comply with airworthiness requirements or service bulletins shall be carried out by cloud-based maintenance systems. These schemes make it easy and cheap to manage maintenance data in many different types, thanks to the availability of Realtime Access to Missing Parts inventories.
A crucial process involves computerisation of activities at each level, which includes integration of analysis data on airlines and MRO operations. An advanced data modelling tool should be used to analyse, classify and partition these data.
KEY DRIVERS:
The adoption of software as a service (SaaS) is on the rise
Traditionally, the cost of onsite field services involved a lot of paperwork and access to an outdated set of data that in turn resulted in disappointing customers, slower growth or low revenues due to lack of timely information. The demand for Software as a Service solutions has grown steadily over the last few years. For SMEs that provide their customers with specific services based on their requirements, the SaaS is a flexible platform. This is expected to open new opportunities for the developers of cloud Based Aviation Maintenance and Repair Software
RESTRAIN:
Lack of common standard for data
There is a very high level of fragmentation in the aviation sector. There are no standard and difficult to analyse data coming from different data centres, e.g., airports, airlines, aircraft OEM's, engine manufacturers or component OEMs, which has an impact on the various algorithms for MRO software analysis. In addition, the functionality of MRO is based on various types of maintenance and repair operations, e.g., a line, component or engine Maintenance & Repair Operations. Consequently, there is a difference in the data produced by these MROs. Integrations of maintenance, materials, engineering and accounts and financing data are addressed in the MRO software. The core functionalities and activities of the various MRO service providers are relied on in this Integrated Information.
The fact that there is no single standard for data adds to software costs since the integration processes are difficult due to their divergent nature.
OPPORTUNITY:
The rising demand for 3D printed items and robot inspections
There are many benefits from 3D printing of parts, such as reduced stock levels, fuel use and costs; part consolidation; and on demand production. Aircraft parts can be 3D printed in house, as and when appropriate, thereby helping to reduce stocks and the time between delivery of a new part from its vendor. MROs can purchase a 3D printer and print parts themselves or outsource it to a 3D printing company. Since certain specifications and strict regulations need to be complied with by 3D printed parts, only vendor manufactured ones are accepted. 3D printing of parts not critical to flight components is being used by MROs, but it is expected that in the future there will also be 3D printing of essential aircraft parts as technology progresses and materials improve.
CHALLENGES:
Growing cybersecurity concerns
As processes become digitalised, there are concerns about their safety. The software industry is continuously updating its solutions so that they don't get hacked. Many sensitive data stored on IT systems, including information about aircraft and parts, may end up in the wrong hands for airlines and MROs. Thus, cyber-attacks will pose a high risk for these companies and can result in substantial losses.
In view of the fact that companies are facing increasing fuel costs, labor shortages and supply chain disruptions, these trends have been aggravated by the war in Ukraine. Consequently, for the purposes of automated tasks, enhanced operational visibility and reduced costs, businesses are increasingly turning to digital MRO solutions.
For example, business can identify and address equipment problems before they cause expensive breakdowns by using predictive maintenance software. In addition, enterprises are being given insights on their operation that can help them make better decisions and increase efficiency through real time data analysis.
IMPACT OF ONGOING RECESSION
The Digital MRO market is likely to be affected by the current economic downturn in mixed ways. First, businesses may be more reticent to invest in new technologies like digital maintenance and repair solutions when there is a recession. On the other hand, the recession may also lead to an increased demand for digital MRO solutions as businesses look for ways to improve efficiency and reduce costs.
Depending on the industry and firm, the impact of the recession will vary within the Digital MRO market. Businesses that are more affected by the recession may be more likely to delay or cancel investments in digital MRO solutions. However, businesses that are prepared for the storm may be able to benefit from investing in Digital MRO solutions and gaining a competitive edge.
On The Basis of End-User
OEMs
Airlines
MROs
On The Basis of Technology
Predictive Maintenance
AR/VR
3D Printing
Blockchain
Artificial Intelligence
Robotics
On The Basis of Application
Inspection
Performance Monitoring
Part Replacement
Mobility & Functionality
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The Asia Pacific region is expected to account for the highest growth rate, with a 2nd biggest share by 2023. In view of the fact that digital technologies have been widely adopted in this area, several Asian countries offer significant opportunities for MRO digitalization. The market for Digital Maintenance, Repair and Operation Services is projected to be driven by the increased availability of maintenance, repair and operation services in this region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are Ansys Inc., The Boeing Company, Capgemini SE, General Electric Company, Hexaware Technologies, Honeywell International Inc., IFS, Lufthansa Technik AG, Ramco Systems Limited, SAP SE & Otjer Players.
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.22 Bn |
| Market Size by 2030 | US$ 6.85 Bn |
| CAGR | CAGR of 15.13% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By End-User (OEMs, Airlines and MROs) • By Technology (Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin, Internet of Things) • By Application (Inspection, Performance Monitoring, Predictive Analysis, Part Replacement, Mobility & Functionality) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Ansys Inc., The Boeing Company, Capgemini SE, General Electric Company, Hexaware Technologies, Honeywell International Inc., IFS, Lufthansa Technik AG, Ramco Systems Limited, SAP SE |
| Key Drivers | • Software-as-a-service is becoming more popular • There is a growing demand to replace obsolete aviation management information systems |
| Market Opportunity | • Demand for 3D-printed items and robotic inspection is increasing |
Ans: - The estimated market size for the Digital MRO market for the year 2028 is USD 5.17Bn.
Ans: - Observance of rigorous aviation regulations and concerns about cybersecurity are growing.
Ans: - North America is expected to have the largest market share throughout the projected period.
Ans: - The major key players are Ansys Inc., The Boeing Company, Capgemini SE, General Electric Company, Hexaware Technologies, Honeywell International Inc., IFS, Lufthansa Technik AG, Ramco Systems Limited, SAP SE.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Digital MRO Market Segmentation, by End-User
8.1 OEMs
8.2 Airlines
8.3 MROs
9. Digital MRO Market Segmentation, by Technology
9.1 Predictive Maintenance
9.2 AR/VR
9.3 3D Printing
9.4 Blockchain
9.5 Artificial Intelligence
9.6 Robotics
9.7 Big Data Analytics
9.8 Digital Twin
9.9 Internet of Things (IoT)
10. Digital MRO Market Segmentation, by Application
10.1 Inspection
10.2 Performance Monitoring
10.3 Predictive Analysis
10.4 Part Replacement
10.5 Mobility & Functionality
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Ansys Inc.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 The Boeing Company
12.3 Capgemini SE
12.4 General Electric Company
12.5 Hexaware Technologies
12.6 Honeywell International Inc.
12.7 IFS
12.8 Lufthansa Technik AG
12.9 Ramco Systems Limited
12.10 SAP SE
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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