Digital MRO Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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Digital MRO Market to surpass USD 1,820 billion by 2030 from USD 586 million in 2018 at a CAGR of 11.2% throughout the forecast period, i.e., 2019-30.

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Description

Digital MRO Market: Market Segments: By Technology (Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin and Internet of Things (IoT)); By Application (Inspection, Performance Monitoring, Predictive Analysis, Part Replacement and Mobility & Functionality); By End User (OEMs, Airlines and MROs); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Product Overview
Maintenance, repair, and operations (MRO) refers to a mechanism that in a working state preserves, repairs, and retains components. There are three types of MRO maintenance: preventive maintenance, predictive maintenance, and corrective maintenance. There are various kinds of innovations integrated into the MRO with the advent of digitalization, such as 3D printing, artificial intelligence, big data analytics, and other advanced technologies.
Market Highlights
Digital MRO Market is expected to project a notable CAGR of 11.2% in 2030.
Digital MRO Market to surpass USD 1,820 billion by 2030 from USD 586 million in 2018 at a CAGR of 11.2% throughout the forecast period, i.e., 2019-30. The growing digitalization activities among MROs, increasing Software-as-a-Services (SaaS) penetration across the aviation industry, and the increasing need to enhance the maintenance, repair & overhaul of existing aircraft are the key drivers contributing to the growth of the Global Digital MRO market
Digital MRO Market: Segments
Artificial Intelligence segment to grow with the highest CAGR of XX.X% during 2019-30
Digital MRO Market is segmented by technology as Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin and IOT. The greater market share of XX% in 2018 was accounted by predictive maintenance segment of the Digital MRO market owing to easy adoption of predictive maintenance tools into various indigenous and non-indigenous operating systems. Various industry participants and IT industries are integrating predictive maintenance tools with their overall software suite/offering, positively catering to the segment. Moreover, artificial Intelligence segment is expected to grow at a higher CAGR during the forecast period owing to the growing adoption of artificial intelligence due to the increase in demand for predictive maintenance, troubleshooting, and analysis of the previous failures.
Digital MRO Market: Market Dynamics
Drivers
Increasing digitalization activities among MROs
The convergence of artificial intelligence and technical developments and the Internet of Things with current operations speeds up processes and dramatically decreases the time and costs of operations. The need of the hour in the aviation industry is more production within a short timeframe.
Restrain
High cost of MRO software suites
Airlines and MROs are focused on growing investments in the procurement of MRO software for advanced aviation. Before making procurement decisions, however, a proper understanding of core MRO functionalities is needed. Feasibility analysis, which takes several months, is required to introduce aviation MRO software. Many tier 2 and tier 3 MROs have small implementation technology budgets that serve as a barrier to the adoption of MRO aviation applications.
Digital MRO Market: Regions
Digital MRO Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Digital MRO Market in North America held the largest market share of XX.X% in the year 2018 and will continue its lead through the forecast period due to the presence of large and medium-sized MROs as well as airlines in this area is attributed to the rising number of deliveries of aircraft. Moreover, the growing digital transformation of MRO and MRO services and the introduction of various revolutionary technologies such as AI, IoT, 3D printing and digital twins to manage and optimize challenging maintenance and repair tasks continue to drive market growth. By integrating technical advances into the product portfolio, the presence of major players such as Microsoft and Google would fuel the growth of the industry. Increased R&D company disbursements will increase market growth across the region.
Digital MRO Market: Key Players
• Ansys
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Boeing
• Capgemini
• General Electric
• Hexaware Technologies
• Honeywell International Inc.
• IFS
• Lufthansa Technik
• Ramco System
• SAP SE
Digital MRO Market report also contains analysis on:
Digital MRO Market Segments:
By Technology:
• Predictive Maintenance
• AR/VR
• 3D Printing
Blockchain
• Artificial Intelligence
• Robotics
• Big Data Analytics
• Digital Twin
• Internet of Things (IoT)
By Application:
• Inspection
• Performance Monitoring
• Predictive Analysis
• Part Replacement
• Mobility & Functionality
By End User:
• OEMs
• Airlines
• MROs
• Digital MRO Market Dynamics
• Digital MRO Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Additional information

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Geography Covered

Date Published

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Format

Table of Contents

Contents
1. Executive Summary
2. Digital MRO Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Digital MRO Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Digital MRO Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Digital MRO: Market Segmentation
12.1. By Regions
12.1.1. North America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Europe:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Asia-Pacific:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.4. MEA:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.5. Latin America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Technology: Market Share (2020-2030F)
12.2.1. Predictive Maintenance, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. AR/VR, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.3. 3D Printing, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.4. Blockchain, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.5. Artificial Intelligence, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.6. Robotics, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.7. Big Data Analytics, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.8. Digital Twin, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.9. Internet of Things (IoT), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3 By Application: Market Share (2020-2030F)
12.3.1. Inspection, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. Performance Monitoring, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.3. Predictive Analysis, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.4. Part Replacement, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.5. Mobility & Functionality, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4 By End User: Market Share (2020-2030F)
12.4.1. OEMs, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.2. Airlines, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.3. MROs, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1.1. Hexaware Technologies
13.1.2. Company Overview
13.1.3. Company Total Revenue (Financials)
13.1.4. Market Potential
13.1.5. Global Presence
13.1.6. Key Performance Indicators
13.1.7. SWOT Analysis
13.1.8. Product Launch
13.2. Ansys
13.3. Boeing
13.4. Capgemini
13.5. General Electric
13.6. Hexaware Technologies
13.7. Honeywell International Inc.
13.8. IFS
13.9. Lufthansa Technik
13.10. Ramco System
13.11. SAP SE

14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.