Digital MRO Market Projected to Witness a Rapid Growth by 2030

Research Reports

Jan 20, 2021

Market Overview

Global Digital MRO Market is projected to be valued at USD 4,700 Million by 2030, registering a CAGR of 14.60% from 2019 to 2030. The rising demand for new aircraft, driven by growth in air passenger traffic, has significantly contributed to the expansion of the digital MRO market. High competition in the market owing to the presence of several players is forcing service providers to focus on offering enhanced and customized services. Furthermore, increasing collaborations between the various industry players are expected to drive the growth of the market. For example, in October 2019, Airbus SAS and Delta Air Lines collaborated to develop predictive maintenance and health-monitoring solutions. However, the absence of common data standards and high costs of MRO software suites might hamper the growth of the market.

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Key Players

Boeing (US), IBM (US), HCL Technologies (India), SAP SE (Germany), RAMCO Systems (India), Oracle (US), IFS AB (Sweden), TRAXXALL Technologies (Canada), Honeywell International, Inc. (US) and General Electric (US)

Growth Opportunities in the Market

3D printing segment expected to be fastest growing: The 3D printing segment is expected to register the highest CAGR during the forecast period of 2019 to 2030. The rising adoption of 3D printing technology by MRO providers is expected to drive the growth of the segment. For example, in 2018, Lufthansa Technik opened a 3D printing centre in Germany to manufacture lightweight aircraft parts. The use of 3D printing offers various benefits such as reduced aircraft weight, low replacement costs, and customization. Therefore, the segment is expected to register the highest CAGR during the review period.

Global Digital MRO Market is expected to register significant growth during the forecast period owing to factors such as rising investments in connected aircraft and the increasing adoption of advanced technologies such as big data, IoT, blockchain, and AI by MRO providers.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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