Dublin, Sept. 11, 2019 (GLOBE NEWSWIRE) -- 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.
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. The software majorly utilizes the Internet of Things (IoT), Artificial Intelligence (AI), Blockchain, and Big Data analytics on the historical and real-time generated data. Such data helps in predictive maintenance to reduce cost and aircraft downtime.
Digitalization of MRO activities leads to the increasing usage of software, point solutions, and robotics by end users, such as MRO service providers and airlines. The increasing demand for the replacement of legacy management information systems with digital aviation MRO software is projected to drive the growth of the market.
However, limited budgets for software and IT infrastructure, and lack of common data standards among different entities in the aviation MRO industry are hindering the market growth. Issues associated with quality credentials are acting as a challenge to the growth of the market as the aviation industry follows various regional and country-wise guidelines regarding the airworthiness of aircraft.
Key players operating in the digital MRO market include Boeing (US), IBM (US), IFS (Sweden), Ramco Systems (India), Oracle (US), Rusada (Switzerland), SAP (Germany), Swiss AviationSoftware (Switzerland), and Traxxall (US).
These companies have adopted the contracts, collaborations, agreements, and new product launches strategies to strengthen their positions in the digital MRO market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Digital MRO Market
4.2 North America Digital MRO Market, By Technology
4.3 Asia Pacific Digital MRO Market, By End User and Country
4.4 Europe Digital MRO Market, By Application
4.5 Digital MRO Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Predictive, Prescriptive, and Condition-Based Maintenance Through Data Shared By Connected Aircraft
5.2.1.2 Growing Adoption of Software-As-A-Service (SaaS)
5.2.1.3 Rising Need for Replacing Legacy Aviation Management Information Systems
5.2.2 Restraints
5.2.2.1 High Cost of Acquisition of Integrated MRO Software Suite
5.2.2.2 Lack of A Common Data Standard
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Internet of Things (IoT), Artificial Intelligence (AI), Blockchain, Augmented Reality (AR), and Big Data Analytics By MROs
5.2.3.2 Growing Demand for 3D-Printed Parts and Robotic Inspection
5.2.4 Challenges
5.2.4.1 Compliance With Stringent Aviation Regulations
5.2.4.2 Increasing Digitalization Will Require Investments in Cybersecurity
5.3 Case Studies
5.3.1 Wearables
5.3.1.1 KLM Engineering & Maintenance and Royal Netherlands Aerospace Centre (NLR) have Created A Joint Venture Called Nuveon for Developing AR/VR=Based Solutions
5.3.2 Robotics
5.3.2.1 Air New Zealand has Teamed Up With MRO Provider St Engineering for Trial Testing of Droscan, A Drone-Based Aircraft Inspection Solution
5.3.3 Digital Twin
5.3.3.1 GE Aviation is Producing A Digital Twin for Each Engine Being Manufactured
5.3.4 3D Printing
5.3.4.1 Eos has Tied Up With Etihad Airways Engineering for MRO
5.3.4.2 Royal Netherlands Air Force to 3D Print Tools That Fit Into the Custom-Made Parts of Aircraft
5.3.5 Predictive Analysis
5.3.5.1 Delta Ops Enters Into A Contract With Airbus for Predictive Maintenance Technology
5.3.5.2 Thai Airways Partnered With Airbus for Developing Robotics for Predictive MRO
6 Industry Trends
6.1 Introduction
6.2 Technological Advancements in the Aviation Industry
6.2.1 Internet of Things (IoT)
6.2.2 Prescriptive Maintenance
6.2.3 Augmented Reality
6.2.4 Blockchain Application in MRO
6.3 Transformation of Aviation Industry Through Data Science Revolution
6.3.1 Optimization of Operations
6.4 Emerging Trends
6.4.1 Maintenance On-The-Go
6.4.2 Increased Mobility
6.4.3 3D Printing
6.4.4 Big Data
6.5 Application Areas for New Technologies in Digital MRO Market
6.5.1 Introduction
6.5.2 Cloud Technology
6.5.3 Advanced Analytics and Digital Transformation
6.5.4 Data Routing
6.5.5 Artificial Intelligence
6.5.6 Internet of Things
6.6 Parameters for the Selection of an MRO Software
6.7 Innovations and Patent Registrations
7 Digital MRO Market, By Technology
7.1 Introduction
7.2 Predictive Maintenance
7.2.1 Predictive Analysis Reduces Downtime and Increases Operational Efficiency for Airlines
7.3 AR/VR
7.3.1 MROs are Exploring the AR/VR Technology for Maintenance and Repair, the Demand for AR/VR is Expected to Increase in Future
7.4 3D Printing
7.4.1 3D Printing in MRO is Expected to Help Reduce the Time Required to Source Parts During Maintenance
7.5 Blockchain
7.5.1 Blockchain is Useful in the Complex Supply Chain of MROs, Wherein Failure, the Risk of Cyberattacks, and High Cost are Involved
7.6 Artificial Intelligence
7.6.1 Artificial Intelligence is Helpful in Predictive Maintenance and Turning an Unscheduled Maintenance Into A Scheduled Maintenance By Predicting Failures
7.7 Robotics
7.7.1 Robots are Being Used By Airlines and MROs Who are Adopting Various Robotic Technologies to Inspect Aircraft
7.7.2 Drones
7.7.3 Robots
7.8 Big Data Analytics
7.8.1 MROs have Not Taken Advantage of Big Data for Maintenance Management to Help Reap Benefits, Such as Faster Turnaround Times, Increased Aircraft Availability, Cost Savings, and Fewer Maintenance Delays
7.9 Digital Twin
7.9.1 GE Utilizes Its Digital Twin Technology for Continuously Monitoring Aircraft Engines Produced Till Date for Performance Monitoring Using Its IoT Sensors
7.1 Internet of Things
7.10.1 Internet of Things is Expected to Help Reduce Unscheduled Maintenance, as All Connected Devices Continuously Feed Data Into A Centralized System
8 Digital MRO Market, By Application
8.1 Introduction
8.2 Inspection
8.2.1 Advancements in the Robotics Technology are Expected to Lead to an Increase in the Demand for Robot-Based Inspection
8.3 Performance Monitoring
8.3.1 IoT Sensors Provide Real-Time Information About Aircraft Engine Components, Which Helps in the Improvement of Engines, and Predictive Analysis
8.4 Predictive Analysis
8.4.1 Increasing Next-Generation Aircraft Fleet is Expected to Drive the Demand for Predictive Analytics
8.5 Part Replacement
8.5.1 Increasing Demand for 3D Printed Parts is Expected to Drive the Demand for Part Replacement
8.6 Mobility & Functionality
8.6.1 Mobility & Functionality Includes Advanced Software Which is Used to Integrate Data and Connect With Other Parties
9 Digital MRO Market, By End User
9.1 Introduction
9.2 Airlines
9.2.1 Small Airlines
9.2.1.1 Small Airlines Outsource Most of Their Aircraft MRO Operations to Save Costs on Capital Investment and Human Resources
9.2.2 Medium Airlines
9.2.2.1 Medium Airlines have Dedicated MRO Hangars and Use Sophisticated Software to Undertake Core Operations
9.2.3 Large Airlines
9.2.3.1 Most Large Airlines Completely Digitalize Activities By Sharing Real-Time Data With OEMs and Third-Party MROs
9.3 MROs
9.3.1 Small MROs
9.3.1.1 Limited Budgets have Restrained the Adoption of Digital MRO By Small MRO Service Providers, as Most of Their Capital Investment is Required for Other Core Functions
9.3.2 Medium MROs
9.3.2.1 Most Medium MRO Service Providers are in A Transitory Stage; They are Focused on Enhancing Their IT Capabilities By Shifting From the Erp Module to the Digitalization of the Entire Ecosystem
9.3.3 Large MROs
9.3.3.1 Large MRO Service Providers are Focused on the Acquisition of Health Monitoring Software, Asset Management Software, and Resource Planning Software to Enhance Operational Efficiency
9.4 OEMs
9.4.1 Aircraft OEMs
9.4.1.1 Aircraft Manufacturers Use Advanced Software Suites to Facilitate Real-Time Data Sharing With Airlines and MROs
9.4.2 Engine OEMs
9.4.2.1 Engine Manufacturers and System Manufacturers Share Data Generated From Sensors Installed on Different Systems in Aircraft
Company Profiles
- Ansys
- Boeing
- Capgemini
- General Electric (GE)
- Hexaware
- Honeywell
- IFS
- International Business Machines (IBM)
- Lufthansa Technik
- Ramco Systems
- Rusada
- SAP
- Swiss Aviationsoftware
- Traxxall
- Winair
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