Global Digital MRO Market Outlook (2018-2027): MRO Market Forecast to Reach $3.39 billion by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 16, 2020--
The “Digital MRO - Global Market Outlook (2018-2027)” report has been added to ResearchAndMarkets.com’s offering.
The Global Digital Maintenance, Repair, and Overhaul (MRO) Market accounted for $0.86 billion in 2018 and is expected to reach $3.39 billion by 2027 growing at a CAGR of 16.5% during the forecast period. Factors such as growing adoption of Software-As-A-Service (SaaS), implementation of AR/VR in the aerospace industry and the rising need for replacing legacy aviation management information systems are fuelling market growth. However, the high cost of acquisition of an integrated MRO software suite is hampering the market.
Digital Maintenance, Repair, and Overhaul (MRO) includes digitalization of MROs. It includes cloud or system-based software used to coordinate, monitor, and improve all processes related to aircraft maintenance, repair, and overhaul. Digital MRO software comprises various functions that include aircraft handling, safety & security services, workforce management, sales & marketing, and hangar operations, which are enhanced with the use of analytics.
Amongst technology, the predictive maintenance segment is projected to have significant growth during the forecast period. 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.
By Geography, North America is likely to have a huge demand due to increasing aircraft deliveries in the region. Many large and medium MROs and airlines are present in this region. Also, the increase in the MRO services and digital transformation of MROs is expected to drive the demand for digital MRO in the region.
What the report offers:
Key Topics Covered:
1 Executive Summary
3 Market Trend Analysis
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Futuristic Market Scenario
4 Porters Five Force Analysis
5 Global Digital Maintenance, Repair, and Overhaul (MRO) Market, By Technology
5.2 Augmented Reality / Virtual Reality (AR/VR)
5.4 Digital Twin
5.5 Predictive Maintenance
5.7 3D Printing
5.8 Artificial Intelligence
5.9 Big Data Analytics
5.10 Internet of Things (IoT)
5.11 Other Technologies
6 Global Digital Maintenance, Repair, and Overhaul (MRO) Market, By Type
6.4 Aluminium Tapping Screw
6.5 Aluminium Nuts
6.6 Aluminium Washers
6.7 Aluminium Countersunk Screws
6.8 Aluminium Screws
6.9 Aluminium Bolts
7 Global Digital Maintenance, Repair, and Overhaul (MRO) Market, By Application
7.2 Part Replacement
7.3 Predictive Analysis
7.6 Mobility & Functionality
7.7 Performance Monitoring
8 Global Digital Maintenance, Repair, and Overhaul (MRO) Market, By End User
8.2 Original Equipment Manufacturers (OEMs)
8.4 Maintenance, Repair, and Overhaul (MROs)
9 Global Digital Maintenance, Repair, and Overhaul (MRO) Market, By Geography
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
For more information about this report visit https://www.researchandmarkets.com/r/4lvtc
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200116005322/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 01/16/2020 06:01 AM/DISC: 01/16/2020 06:01 AM