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3. Digital MRO Companies - IBM (US) and The Boeing Company (US) are the Key Players

The digital MRO market is projected to reach USD 2.0 billion by 2030, from USD 0.9 billion in 2023, at a CAGR of 13.0%. The global digital MRO market is expected to grow significantly owing to increasing demand for predictive, prescriptive and condition-based maintenance  through data shared by connected aircraft and by growing adoption of software-as-a-service (SaaS)

Major Digital MRO Companies Include:

• IBM (US)
• The Boeing Company (US)
• SAP (Germany)
• General Electric (US)
• Lufthansa Technik (Germany)

Major manufacturers in this market are based in North America and Europe. Collaborations, product launches, contracts, and partnerships were the key growth strategies adopted by the leading market players from 2020 to 2023. Of these, the product launches and contracts strategies were the most widely adopted by the players to remain competitive in the market.

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

IBM

IBM is a multinational technology company that provides a wide range of products and services related to information technology (IT), including hardware, software, and services. It is one of the largest technology companies in the world and is known for its innovation in the field of computing. It is a leading provider of digital MRO solutions for the aviation industry. Their digital MRO solutions use artificial intelligence (AI), machine learning, big data analytics, and the Internet of Things (IoT) to optimize maintenance processes, reduce downtime, and improve fleet performance. IBM has developed a range of other digital solutions for the aviation industry, including flight operations, passenger experience, and airport operations. These solutions are designed to help airlines and aviation service providers improve their overall operational efficiency, enhance customer experience, and reduce costs. Its major operations consist of 5 business segments, namely software, consulting, infrastructure, financing, and other. The company operates in more than 175 countries around the world.

The Boeing Company

The Boeing Company is one of the leading manufacturers of commercial jetliners and defense, space, and security systems. It has a presence in more than 65 countries across the globe. The company operates through four business segments, namely, Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. The company offers airliners through its commercial airplanes segment.Boeing is one of the leading aerospace companies in the world. It has also been investing in digital MRO technologies to improve maintenance and repair operations across its fleet of aircraft. The company has been leveraging advanced analytics, IoT, and machine learning to optimize maintenance schedules, reduce downtime, and improve safety. It is also exploring the use of augmented reality (AR) and virtual reality (VR) technologies to improve training for maintenance technicians and reduce errors. It has developed AR and VR tools that can provide maintenance technicians with step-by-step instructions for complex maintenance tasks, enabling them to complete tasks more efficiently and accurately.

SAP

SAP (Systems, Applications, and Products) is a software company that provides enterprise software solutions to companies of all sizes in various industries. Its software solutions cover a wide range of business processes, including financial management, human resources, supply chain management, customer relationship management, and more. Its products are designed to help companies streamline their business processes, reduce costs, increase efficiency, and gain better insights into their operations. The company offers various software solutions that can be applied in digital MRO activities in the aerospace & defense industry. SAP provides its software and services to diverse industry verticals, including airlines, sports & entertainment, BFSI, public services, telecommunications, and media & entertainment. It provides software for inventory management, provisioning, procurement, sales, maintenance and service processing, and maintenance planning for aviation MRO, which helps in improving efficiency in component repair, base maintenance, and line maintenance. The company has offices and operations in over 180 countries, with more than 100,000 employees as of 2021 worldwide.

General Electric (GE)

General Electric (GE) is a technology and financial services company involved in the development and manufacture of products that are used in the generation, transmission, distribution, control, and utilization of electricity. The company operates through various segments, such as power, renewable energy, aviation, healthcare, and capital. In the aviation industry, it is a leading provider of aircraft engines, avionics, and digital solutions for commercial and military customers. It also offers MRO services to help customers maintain and repair aircraft engines and other components.The MRO services of GE Electric are supported by its digital solutions, including the digital services platform and the Predix platform, which provide real-time analytics and predictive maintenance capabilities. The digital services platform enables customers to monitor the health of their engines and components remotely and receive alerts when maintenance is required. The Predix platform uses data analytics and machine learning algorithms to predict when maintenance is required and optimize maintenance schedules to reduce downtime and improve operational efficiency.

Lufthansa Technik

Lufthansa Technik, a subsidiary of Lufthansa Group, is a leading provider of engineering solutions to the aviation industry. It specializes in offering aircraft maintenance, repair, and overhaul services. The company classifies its offerings into seven reportable divisions: maintenance, overhaul, engines, components, VIP aircraft, original equipment innovation, and landing gear services.

Lufthansa Technik serves over 800 customers worldwide, including civil and commercial airlines, aircraft leasing companies, VIP jet operators, and government-operated aircraft. Through 60 line maintenance stations worldwide, the company handles about 1,700 aircraft inspections daily and supplies more than 2,000 aircraft spare parts. The company operates through 54 direct and indirect subsidiaries and affiliates in Europe, Asia, and North America.

Related Reports:

Digital MRO Market by Technology (AR/VR, Cloud Computing, 3D Printing, Robotics, AI and Big Data Analytics, Digital Twin and Simulation, Blockchain, IoT), End User (MROs, Airlines, OEMs), Application, Region - Global Forecast to 2030

Contact:
Mr. Aashish Mehra
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