Digital MRO Market Is Expected To Experience Robust Growth Due To Rising Demand For Enhancing Repair And Maintenance Operations

(Publishing-NewsWire.com, September 24, 2021 ) The global digital MRO market size 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. Some of the factors that are expected to fuel the growth of the digital MRO market include the increasing digitalization of MRO activities by commercial airlines and MROs and rising demand for enhancing repair and maintenance operations of existing aircraft fleet.

The North America digital MRO market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing aircraft deliveries in the region. Many large and medium MROs and airlines are present in this region. Also, increase in the MRO services and digital transformation of MROs is expected to drive the demand for digital MRO in the region.

Based on technology, the predictive maintenance segment is projected to lead the digital MRO market from 2019 to 2030. 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.

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Based on end user, the MROs segment is projected to lead the digital MRO market during the forecast period. Large MROs have been investing in digital transformation with the help of technologies such as digital twin, artificial intelligence, blockchain, etc. Due to the demand for workflow efficiency and reducing aircraft downtime, the MROs segment is expected to lead the market during the forecast period.

The digital MRO market in the North American region is expected to witness substantial growth during the forecast period. Many MROs are opting for digitalizing their services in this region. They are adopting advanced technologies such as robotics, digital twin, blockchain, artificial intelligence, etc., to optimize complex repair and maintenance tasks.

Key Companies Outlook

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).

In November 2018, Honeywell signed an agreement at Airshow China 2018, making Hainan Airlines the launch customer for Honeywell’s GoDirect Connected Maintenance service. The agreement also covers the sales of 131-9A APUs for Hainan’s 55 Airbus A320neo and a ten-year regional asset exchange program for the APUs.

Lufthansa Technik offers a complete range of digital solutions and consulting services for MRO capability for all types of Boeing and Airbus aircraft. The products and services offered by the company include aircraft maintenance and overhaul services, engine maintenance and overhaul services, component maintenance and overhaul services, and a digital power platform called AVIATOR. The company’s strategy is to make international alliances, which help in securing contracts and remaining competitive. The company has good geographic reach and channel with over 35 operating subsidiaries and affiliates across Asia Pacific, EMEA, and the Americas.

In April 2019, American carrier JetBlue Airways signed a contract with Lufthansa Technik to avail its new engineering consulting service called Maintwise. The aim of Maintwise is to optimally bundle all aspects of an aircraft maintenance program, taking into account available ground times, customer targets, and framework conditions.

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