DUBLIN–(BUSINESS WIRE)–The “Digital Aerospace MRO Global Market Report 2021: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.
The global digital aerospace MRO market is expected to grow from $481.9 million in 2020 to $542.1 million in 2021 at a compound annual growth rate (CAGR) of 12.5%. The market is expected to reach $1,018.1 million in 2025 at a CAGR of 17.1%.
North America was the largest region in the digital aerospace MRO market in 2020. Europe was the second-largest market in the digital aerospace MRO market.
Major players in the digital aerospace MRO market are IBM Corporation, IFS AB, Ramco Systems, Rusada, Boeing, Swiss Aviation Software AG, Lufthansa Technik, General Electric, Honeywell International, HCL Technologies Limited, Oracle Corporation, Traxxall Technologies, Ansys, Capgemini, Hexaware Technologies, Winair, and Microsoft Corporation.
The digital aerospace MRO market consists of sales of MRO services and software by entities (organizations, sole traders and partnerships) that are engaged in providing digital aerospace MRO services and software suites for catering the maintenance, repairs, and operational needs. Digital Aerospace MRO refers to the use of digital technology such as the Internet of Things (IoT), blockchain, artificial intelligence (AI), robots, augmented reality/virtual reality (AR/VR), digital twins, and 3D printing to conduct MRO operations.
The main technologies involved in digital aerospace MRO are predictive maintenance, AR or VR, 3D printing, artificial intelligence, internet of things, robotics, and others. Predictive maintenance (PdM) is preventative maintenance that tracks the performance and state of equipment when it is in use to reduce the risk of failure. It is used in inspection, performance monitoring, predictive analysis, part replacement, mobility and functionality and is employed in various sectors such as OEMs, airlines, MROs and others.
Technological advancement is an emerging trend gaining popularity in the digital aerospace MRO market. Artificial intelligence technology is being more widely used as the market for predictive maintenance, troubleshooting, and review of past errors grows. AI aids in optimization, upkeep, and organizing by reducing the need for routine maintenance, allowing airlines to increase their spending.
The increase in inflight passengers and the need for more aircraft with minimal downtime for maintenance is expected to propel the growth of the digital aerospace MRO market in the forecast period. Over the years there has been an increase in the global air traffic, which in turn increased the need for more aircraft with minimum downtime.
Any establishment, workshop, or hangar that engages in and executes professional aircraft maintenance is referred to as an MRO facility. Through the employment of aviation ground support equipment, MRO facilities and experts assist in keeping airplanes running safely and reliably.
Key Topics Covered:
1. Executive Summary
2. Digital Aerospace MRO Market Characteristics
3. Digital Aerospace MRO Market Trends and Strategies
4. Impact Of COVID-19 On Digital Aerospace MRO
5. Digital Aerospace MRO Market Size and Growth
5.1. Global Digital Aerospace MRO Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Digital Aerospace MRO Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Digital Aerospace MRO Market Segmentation
6.1. Global Digital Aerospace MRO Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Digital Aerospace MRO Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Digital Aerospace MRO Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Digital Aerospace MRO Market Regional and Country Analysis
7.1. Global Digital Aerospace MRO Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Digital Aerospace MRO Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/qbhmcu
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