DUBLIN, Sept. 11, 2019 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
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.
The increasing digitalization of MRO to increase efficiency and reduce aircraft downtime is the key factor which is expected to fuel the growth of the digital MRO market. However, limited budgets which restrain the adoption of MRO hurdle the growth of this market.The artificial intelligence segment of the market is projected to grow at the highest CAGR from 2019 to 2030Based on application, the artificial intelligence segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for predictive maintenance, part failure analysis, and troubleshooting.Based on end user, the MROs segment is projected to lead the digital MRO market from 2019 to 2030Based on end user, the MROs segment is projected to lead during the forecast period. Due to the demand for workflow efficiency and reducing aircraft downtime, the market for MROs is expected to lead during the forecast period.The North American region is estimated to account for the largest share of the digital MRO market in 2019The digital MRO market in the North American region is expected to witness substantial growth during the forecast period, owing to the high adoption of digitalization by MROs across the region. The MROs in this region are opting for solutions to optimize the complex repair and maintenance tasks with the help of advanced technologies such as robotics, digital twin, etc.
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).Key Topics Covered:
1 Introduction2 Research Methodology3 Executive Summary4 Premium Insights4.1 Attractive Opportunities in the Digital MRO Market4.2 North America Digital MRO Market, By Technology4.3 Asia Pacific Digital MRO Market, By End User and Country4.4 Europe Digital MRO Market, By Application4.5 Digital MRO Market, By Country5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers184.108.40.206 Increasing Demand for Predictive, Prescriptive, and Condition-Based Maintenance Through Data Shared By Connected Aircraft220.127.116.11 Growing Adoption of Software-As-A-Service (SaaS)18.104.22.168 Rising Need for Replacing Legacy Aviation Management Information Systems5.2.2 Restraints22.214.171.124 High Cost of Acquisition of Integrated MRO Software Suite126.96.36.199 Lack of A Common Data Standard5.2.3 Opportunities188.8.131.52 Increasing Adoption of Interne of Things (IoT), Artificial Intelligence (AI), Blockchain, Augmented Reality (AR), and Big Data Analytics By MROs
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