Digital MRO Market

Boeing (US) and Honeywell (US) are Leading Players in the Digital MRO Market

The digital MRO market is projected to grow from USD 606 million in 2020 to USD 1,809 million by 2030, at a CAGR of 11.6% from 2020 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.

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) are some of the leading players operating in the digital MRO market. These players have adopted various growth strategies such as contracts, acquisitions, expansions, new product launches, and partnerships & agreements further to expand their presence in the digital MRO market.

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Boeing (US) has adopted incremental innovation to upgrade its existing systems, maximize customer benefits, and minimize developmental risks. The company focuses on acquiring contracts and launching new products to broaden its product portfolio. Along with this, the company has a portfolio of solutions in the MRO industry. Boeing has a strong financial record paired with immense resources in the form of workforce and innovation. This makes the company one of the strongest in the market.

In March 2018, Boeing signed three agreements at MRO Russia. The agreements cover AerData’s Engine Fleet Planning and Costing (EFPAC) system for managing leased and owned engines as well as Jeppesen’s crew scheduling solutions. Each software product drives operational efficiency through analytics methods and tools powered by Boeing AnalytX.

Honeywell (US) has a strong presence in the digital MRO market, owing to its wide product portfolio consisting of various solutions and services related to the MRO industry. The company has adopted the strategy of contracts to broaden its product portfolio and establish a strong global reputation and brand name. Moreover, it is continuously developing various innovative products and services to cater to the requirements of its customers. Honeywell is primarily engaged in developing, manufacturing, selling, and support provision for products. The digital MRO segment delivers products for MRO using advance technologies such as blockchain, cloud, etc. The company has also developed GoDirect Trade, which helps in online retail of aviation parts worldwide. The core competencies of the company include quality customer service, product innovations, and product recognition.

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 a 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.

Related Reports:

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

Mr. Aashish Mehra
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Digital MRO Market Size,  Share & Growth Report
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