Digital MRO Market

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 Code: AS 7330 Sep, 2019, by marketsandmarkets.com

[152 Pages Report] 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. Some of the factors that are expected to fuel the growth of the market include the increasing digitalization of MRO activities by commercial airlines and MROs and the rising demand for enhancing the repair and maintenance operations of existing aircraft fleet.

Digital MRO Market

Based on end user, the MROs segment of the market is projected to grow at the highest CAGR from 2019 to 2030.

Based on end user, the MROs segment is projected to grow at the highest CAGR from 2019 to 2030. MROs must fulfil all the regulatory requirements while reducing the timeline and cost of aircraft maintenance. This is enhancing the demand for software solutions to smoothen the operational efficacy. Large MROs are investing in new technologies such as AI, blockchain, and digital twin to reduce maintenance cost and aircraft downtime. This, in turn, is projected to drive the MROs segment in the digital MRO market.

Based on technology, the artificial intelligence segment is projected to grow at the highest CAGR from 2019 to 2030.

Based on technology, the artificial intelligence segment of the market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for predictive maintenance, part failure analysis, and troubleshooting. IBM has been developing AI-based software for increasing agility in the workflow.

Digital MRO Market

The digital MRO market in North America is projected to grow at the highest CAGR from 2019 to 2030.

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.

Key Market Players

The 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). These companies are supplying advanced digital MRO solutions. These players have adopted various growth strategies as contracts, acquisitions, expansions, new product launches, and partnerships & agreements to further expand their presence in the market.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2030

Base year considered

2018

Forecast period

2019–2030

Forecast monetary unit

Value (USD)

Segments covered

Technology, Application, End User, and Region

Regions covered

North America, Europe, Asia Pacific, and Rest of the World (RoW)

Companies covered

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)

This research report categorizes the digital MRO market based on technology, application, end user, and region.

Based on Technology, the digital MRO market has been segmented as follows:

  • Predictive Maintenance
  • AR/VR
  • 3D Printing
  • Blockchain
  • Artificial Intelligence
  • Robotics
  • Big Data Analytics
  • Digital Twin
  • Internet of Things (IOT)

Based on End User, the digital MRO market has been segmented as follows:

  • Airlines
    • Small Airlines
    • Medium Airlines
    • Large Airlines
  • MROs
    • Small MROs
    • Medium MROs
    • Large MROs
  • OEMs
    • Aircraft OEMs
    • Engine OEMs

Based on Application, the digital MRO market has been segmented as follows:

  • Inspection
  • Performance Monitoring
  • Predictive Analysis
  • Part Replacement
  • Mobility & Functionality

Based on Region, the digital MRO market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (Latin America, Middle East, and Africa)

Recent Developments

  • In June 2019, Capgemini and Airbus signed an agreement to develop and propose the Skywise platform’s data services to airlines.
  • In November 2018, Honeywell International signed an agreement with Hainan Airlines for Honeywell’s GoDirect Connected Maintenance service.
  • In June 2019, IFS received a contract from Revima to drive Revima’s international expansion and support its complex maintenance operations.
  • In April 2019, JetBlue Airways signed a contract with Lufthansa Technik for its new engineering consulting service Maintwise.

Key Questions Addressed by the Report

  • What are your views on the growth perspective of the digital MRO market? What are the key dynamics, such as drivers, opportunities, and trends, that govern the market?
  • What are the key sustainability strategies adopted by leading players operating in the market?
  • What are the new emerging technologies and use cases disrupting the aviation MRO industry?
  • What are the applications wherein digital MRO solutions play a significant role?
  • What are the key trends and opportunities in the market across different regions and their respective countries?
  • Who are the key players and innovators in the ecosystem of the market?
  • Which supplier is expected to hold the largest market share in 2019?
  • How is the competitive landscape changing in the client ecosystem and impacting revenue of companies?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Regional Scope
           1.3.2 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
           2.1.3 Market Definition & Scope
                    2.1.3.1 Exclusions
    2.2 Research Approach & Methodology
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 35)
    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 (Page No. - 38)
    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 (Page No. - 45)
    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 (Page No. - 51)
    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 Drones
           7.7.2 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
    7.10 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 (Page No. - 60)
    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 (Page No. - 67)
    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

10 Regional Analysis (Page No. - 73)
     10.1 Introduction
     10.2 North America
             10.2.1 US
                        10.2.1.1 Increasing Procurement and Upgradation of Existing Aircraft has Led to the Modernization of Aircraft Fleet
             10.2.2 Canada
                        10.2.2.1 Modernization Plans to Enhance Narrow-Body Aircraft Fleet is Expected to Drive the Market for Digital MRO in Canada
     10.3 Europe
             10.3.1 Germany
                        10.3.1.1 Presence of OEM Facilities for Aircraft Maintenance and Focus on Digitalization of Entire It Infrastructure is Expected to Drive Digital MRO Market in Germany
             10.3.2 UK
                        10.3.2.1 Presence of Major Aircraft OEM Subsidiaries is Contributing to the Demand for MRO Services in the UK
             10.3.3 France
                        10.3.3.1 Presence of Major Aircraft OEMs, Such as Airbus, is Projected to Drive the Growth of the Digital MRO Market in France
             10.3.4 Spain
                        10.3.4.1 High Demand for Digital MRO From Small Airlines and OEM Facilities to Carry Out Retrofitting of Aircraft is Expected to Drive the Market in Spain
             10.3.5 Sweden
                        10.3.5.1 Increase in Fleet Size of Leading Airlines is Expected to Drive the Demand for MRO Services in Sweden
             10.3.6 Russia
                        10.3.6.1 Need to Upgrade Existing Aircraft Components and Procurement of New Aircraft is Contributing to the Growth of the Digital MRO Market in Russia
             10.3.7 Netherlands
                        10.3.7.1 Need for Digitalization of MRO Services and Expansion of Medium MROs and Airlines is Driving the Demand for Advanced Aviation Software
     10.4 Asia Pacific
             10.4.1 China
                        10.4.1.1 High Demand for Narrow-Body Aircraft and Wide-Body Aircraft is Contributing to the Growth of Digital MRO in China
             10.4.2 Japan
                        10.4.2.1 Increasing Aircraft Deliveries and the Need to Upgrade Existing Aircraft Systems are Driving Japan’s Digital MRO Market
             10.4.3 India
                        10.4.3.1 High Demand for MRO Services From Airlines and the Increase in Aircraft Deliveries are Driving Digital MRO Market in India
             10.4.4 Singapore
                        10.4.4.1 Increasing Adoption of MRO Services in the Country is Expected to Drive the Market for Digital MRO in Singapore
     10.5 Rest of the World (RoW)
             10.5.1 Latin America
                        10.5.1.1 Expansion of the Airline Industry in Latin America Presents Growth Opportunities to Developers of Digital MRO
             10.5.2 Middle East
                        10.5.2.1 Increased Investments in Airspace Infrastructure, High Demand for MRO Services, and Successful Implementation of the Low-Cost Carrier Business Model are Driving the Market for Digital MRO in the Middle East
             10.5.3 Africa
                        10.5.3.1 Increase in Aircraft Deliveries and Demand for MRO Services is Expected to Drive the Market for Digital MRO in Africa

11 Competitive Landscape (Page No. - 102)
     11.1 Introduction
     11.2 Competitive Leadership Mapping
             11.2.1 Visionary Leaders
             11.2.2 Innovators
             11.2.3 Dynamic Differentiators
             11.2.4 Emerging Companies
     11.3 Major Players in Digital MRO Market
     11.4 Competitive Situation and Trends
             11.4.1 New Product Launches
             11.4.2 Agreements, Partnerships, and Collaborations
             11.4.3 Contracts

12 Company Profiles (Page No. - 111)
(Business Overview, Products/Services/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Ansys
     12.2 Boeing
     12.3 Capgemini
     12.4 SAP
     12.5 General Electric (GE)
     12.6 Hexaware
     12.7 Honeywell
     12.8 IFS
     12.9 International Business Machines (IBM)
     12.10 Lufthansa Technik
     12.11 Ramco Systems
     12.12 Rusada
     12.13 Swiss Aviationsoftware
     12.14 Winair
     12.15 Traxxall

* Business Overview, Products/Services/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 146)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets™ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (69 Tables)

Table 1 Innovations & Patent Registrations, 2014–2017
Table 2 Digital MRO Market, By Technology, 2017–2030 (USD Million)
Table 3 Predictive Maintenance Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 4 AR/VR Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 5 3D Printing Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 6 Blockchain Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 7 Artificial Intelligence Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 8 Robotics Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 9 Big Data Analytics Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 10 Digital Twin Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 11 Internet of Things Digital MRO Market, By Region, 2017–2030 (USD Million)
Table 12 Digital MRO Market, By Application, 2017–2030 (USD Million)
Table 13 Digital MRO Market in Inspection, By Region, 2017–2030 (USD Million)
Table 14 Digital MRO Market in Performance Monitoring, By Region, 2017–2030 (USD Million)
Table 15 Digital MRO Market in Predictive Analysis, By Region, 2017–2030 (USD Million)
Table 16 Digital MRO Market in Part Replacement, By Region, 2017–2030 (USD Million)
Table 17 Digital MRO Market in Mobility & Functionality, By Region, 2017–2030 (USD Million)
Table 18 Digital MRO Market, By End User, 2017–2030 (USD Million)
Table 19 Digital MRO Market for Airlines, By Region, 2017–2030 (USD Million)
Table 20 Digital MRO Market for MROs, By Region, 2017–2030 (USD Million)
Table 21 Digital MRO Market for OEMs, By Region, 2017–2030 (USD Million)
Table 22 Digital MRO Market Size, By Region, 2017–2030 (USD Million)
Table 23 North America: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 24 North America: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 25 North America: Digital MRO Market Size, By Country, 2017–2030 (USD Million)
Table 26 US: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 27 US: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 28 Canada: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 29 Canada: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 30 Europe: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 31 Europe: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 32 Europe: Digital MRO Market Size, By Country, 2017–2030 (USD Million)
Table 33 Germany: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 34 Germany: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 35 UK: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 36 UK: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 37 France: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 38 France: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 39 Spain: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 40 Spain: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 41 Sweden: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 42 Sweden: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 43 Russia: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 44 Russia: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 45 Netherlands: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 46 Netherlands: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 47 Asia Pacific: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 48 Asia Pacific: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 49 Asia Pacific: Digital MRO Market Size, By Country, 2017–2030 (USD Million)
Table 50 China: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 51 China: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 52 Japan: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 53 Japan: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 54 India: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 55 India: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 56 Singapore: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 57 Singapore: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 58 RoW: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 59 RoW: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 60 RoW: Digital MRO Market Size, By Region, 2017–2030 (USD Million)
Table 61 Latin America: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 62 Latin America: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 63 Middle East: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 64 Middle East: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 65 Africa: Digital MRO Market Size, By End User, 2017–2030 (USD Million)
Table 66 Africa: Digital MRO Market Size, By Technology, 2017–2030 (USD Million)
Table 67 New Product Launches, 2018
Table 68 Agreements, Partnerships, and Collaborations, 2015–2019
Table 69 Contracts, 2017–2019


List of Figures (41 Figures)

Figure 1 Research Process Flow
Figure 2 Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for the Research Study on the Digital MRO Market
Figure 7 Based on End User, the MRO Segment is Projected to Lead the Digital MRO Market From 2019 to 2030
Figure 8 Based on Technology, the Digital Twin Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 9 Based on Application, the Performance Monitoring Segment is Projected to Lead the Digital MRO Market During the Forecast Period
Figure 10 North America is Estimated to Account for the Largest Share of the Digital MRO Market in 2019
Figure 11 Increase in the Adoption of Advanced Technologies, Such as Blockchain, Big Data, and AI is Expected to Drive the Growth of the Digital MRO Market From 2019 to 2030
Figure 12 Predictive Maintenance Segment is Projected to Lead the North America Digital MRO Market From 2019 to 2030
Figure 13 MRO End User Segment is Estimated to Account for the Largest Share of the Asia Pacific Digital MRO Market in 2019
Figure 14 Mobility & Functionality Segment of the Europe Digital MRO Market is Projected to Grow at A Higher CAGR From 2019 to 2030 As
Figure 15 Digital MRO Market in India is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 16 Digital MRO Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Active Connected Aircraft Fleet Share, By Region, 2018
Figure 18 The Predictive Maintenance Segment is Projected to Lead the Digital MRO Market During the Forecast Period
Figure 19 The Performance Monitoring Segment is Projected to Lead the Digital MRO Market During the Forecast Period
Figure 20 The Airlines Segment is Projected to Lead the Digital MRO Market During the Forecast Period
Figure 21 Digital MRO Market: Regional Snapshot
Figure 22 North America Digital MRO Market Snapshot
Figure 23 Europe Digital MRO Market Snapshot
Figure 24 Asia Pacific Digital MRO Market Snapshot
Figure 25 Key Growth Strategies Adopted By Leading Players in the Digital MRO Market Between 2014 and 2018
Figure 26 Digital MRO System Market: OEM Competitive Leadership Mapping, 2018
Figure 27 Major Players in Digital MRO Market, 2018
Figure 28 Ansys: Company Snapshot
Figure 29 Ansys: SWOT Analysis
Figure 30 Boeing: Company Snapshot
Figure 31 Capgemini: Company Snapshot
Figure 32 SWOT Analysis: Capgemini
Figure 33 SAP: Company Snapshot
Figure 34 General Electric: Company Snapshot
Figure 35 General Electric: SWOT Analysis
Figure 36 Hexaware: Company Snapshot
Figure 37 Honeywell: Company Snapshot
Figure 38 Honeywell: SWOT Analysis
Figure 39 IFS: Company Snapshot
Figure 40 IBM: Company Snapshot
Figure 41 Ramco Systems: Company Snapshot

The study involved various activities to estimate the market size for digital MRO. Exhaustive secondary research was undertaken to collect information on the digital MRO market, its adjacent markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both, demand- and supply-side analyses were carried out to estimate the overall size of the market. Thereafter, market breakdown and data triangulation procedures were used to estimate the sizes of different segments and subsegments of the digital MRO market.

Secondary Research

In the secondary research process, various secondary sources, such as annual reports, European Aviation Safety Agency, United Nations Conference on Trade and Development (UNCTAD), press releases & investor presentations of companies, certified publications, and articles by recognized authors were referred to for identifying and collecting information on the digital MRO market.

Primary Research

The digital MRO market comprises several stakeholders such as aircraft MROs, airlines & aircraft operators, aircraft manufacturers, lessors, aircraft engine manufacturers, regulatory bodies, research institutes and organizations, wholesalers, retailers, and distributors of MRO software and services in its supply chain. The supply side is characterized by technological advancements taking place in the field of digital MRO such as the robotics, predictive maintenance, AR/VR, 3D printing, blockchain, artificial intelligence, robotics, big data analytics, digital twin, and Internet of Things (IoT). The following is the breakdown of the primary respondents that were interviewed to obtain qualitative and quantitative information about the digital MRO market.

Digital MRO Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both, top-down and bottom-up approaches were used to estimate and validate the digital MRO market size. These methods were also used extensively to estimate the size of various segments and subsegments of the market. The research methodology used to estimate the market size included the following steps:

  • Key players in the industry and market were identified through extensive secondary research of their product matrix and geographical presence and developments undertaken by them.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Research Approach

Digital MRO is an upcoming and emerging market which has been enabled due to advancements in technologies and innovations to simplify complex processes. Both, top-down and bottom-up approaches were used to estimate and validate the size of the market. The research methodology used to estimate the market size also includes the following

  • Key players were identified through secondary research. This included a study of annual and financial reports of the top market players and extensive interviews of leaders, including CEOs, directors, and marketing executives.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.

Bottom-up Approach

  • The bottom-up approach was employed to arrive at the overall size of the digital MRO market by estimating the revenues of key players and their shares in the market. The average selling price for different types of advanced aviation MRO software was derived for key countries. This price was multiplied by the total numbers of MRO software sold, to arrive at the market size at the country level. Values obtained for multiple countries were summed up to arrive at the regional market size, and subsequently, the global market size

Approach 1: MRO Software Users & License-based:

  1. Number of MROs based in different regions and targeted countries. (Identify employee size and revenues)
  2. Categorizing MROs by their core functions, finding the actual target employees, using the MRO software.

(For point solutions, chances of double count are high for different software users, based on their functionality, as sales and marketing departments would not be required to access maintenance and operations software, etc.)

  1. Software offerings: Differentiating point solutions offerings, based on their annual pricing, user access, license fees, etc. determining the upgradation and installation services costs.
  2. Mapping data of MRO expenditure on software and related services, based on size and functions.
  3. Finding software adoption pattern by different MROs based on their software requirements.
  4. Adding up market numbers of different point solutions and software suites to calculate the global number.
  5. Calculating the CAGR considering adoption and trend analyses of digital MRO + software industry, proportionate to the growth of the parent market.
  6. Calculation of the primary segment solution based on the demand side bottom-up approach, which can be verified through supply side revenues.

Difficulties: As mentioned in the 2nd point, users of point solutions vary, and it is difficult to filter software users based on employee role. In such a case, it will be required to differentiate the number of employees for the different applications of the business and then find out whether they have adopted point solutions of software.

Approach 2:

  • Identification of technologies used for the digitalization of MRO services throughout the MRO industry.
  • Scoping the historical trends of the MRO industry for the upgradation of software and identifying applications where such technologies are being used.
  • Identifying the total IT spend by MROs, OEMs, and airlines.
  • Calculating the adoption of digital MRO by identifying the adoption of IT spend on these technologies for airlines, MROs, and OEMs based on the available data.
  • Identification of percentage share of each technology on the IT spend.

Adoption of the market by demand by region and country to arrive at the global market.

Difficulties: Understating the current users of the MRO software based on data availability, also arranging the equations for different end users and their adoptions

Data Triangulation

After arriving at the overall size of the digital MRO market using the market size estimation processes explained above, the market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from demand as well as supply sides of the digital MRO market.

Objectives of the Report

  • To define, describe, segment, and forecast the size of the digital MRO market based on technology, application, end user, and region
  • To understand the structure of the market by identifying its various segments and subsegments
  • To forecast the size of various segments of the market with respect to four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World, along with the major countries in each of these regions
  • To identify and analyze key drivers, restraints, opportunities, and challenges that influence the growth of the digital MRO market
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contributions to the overall market
  • To analyze the opportunities in the market for stakeholders by identifying key market trends
  • To analyze competitive developments such as contracts, acquisitions, expansions, new product launches, and partnerships & agreements in the market
  • To provide a detailed competitive landscape of the digital MRO market, along with an analysis of the business and corporate strategies adopted by leading players

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies.

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiles of additional market players (up to 5)
Report Code
AS 7330
Published ON
Sep, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Digital MRO Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home