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Digital MRO Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

05-08-2023 09:14 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Digital MRO Market Set to Grow at the Fastest Rate- Time to Grow

The report provides an analysis of the digital MRO market from 2023 to 2030. It discusses various industry and technology trends currently prevailing in the digital MRO market along with the factors that drive, restrain, and challenge the market growth globally. The digital MRO market is projected to grow from USD 0.9 billion in 2023 to USD 2.0 billion by 2030, at a CAGR of 13.0% from 2023 to 2030. Factors such as rising need for replacing legacy aviation management information systems and growing demand for 3D-printed parts and robotic inspection are driving the market growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=165029525

Based on technology, the artificial intelligence and big data analytics segment is estimated to lead the market in 2023. The growth of this segment can be attributed to the growing need of predictive maintenance to turn an unscheduled maintenance into a scheduled maintenance by predicting failures. The need to expedite the maintenance operations by analyzing vast volumes of data to find trends and anticipate the problem before they arise is driving the artificial intelligence and big data analytics segment.

Based on end-user, the MROs segment is projected to lead the market in 2023. The growth of this segment is attributed to the increasing demand for software solutions to improve operational efficiency. The increased investments in blockchain, Artificial Intelligence and big data analytics and digital twin and simulation to reduce aircraft downtime and cost.

Based on region, the North America region is estimated to lead the market in 2023. This region includes US and Canada. This growth can be attributed to the increasing procurement and upgradation of existing aircraft to modernize the aircraft fleet. Major aircraft manufacturers and MRO providers in this region are increasing adopting digital solutions such as internet of things (IoT) and big data analytics to improve maintenance processes and reduce downtime is driving the demand for digital MRO in this region.

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Major players operating in the digital MRO market include IFS (Sweden), SAP (Germany), Rusada (Switzerland), Lufthansa Technik (Germany), Honeywell International Inc.(US), The Boeing Company (US), and General Electric (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America and Europe. These companies have products with wider applications, a larger product footprint, significant market share and broader geographical use cases. They have established a strong market presence, reputable products with a strong business strategies.

News also Covered: https://www.prnewswire.com/news-releases/digital-mro-market-worth-2-0-billion-by-2030---exclusive-report-by-marketsandmarkets-301816890.html

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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