Global Digital MRO Market: Snapshot
Digitization of maintenance, repair and overhaul (MRO) operations will soon a norm in civil aviation around the world. The drive for the digital MRO market stems from this. OEMs and MRO companies have at their disposable an array of technologies that they have been harnessing to bolster maintenance planning and execution capabilities and improve asset availability at various layers. The wide assortment of augmented reality and virtual reality technologies, additive manufacturing, big data analytics, and artificial intelligence has been added to digital MRO solutions. Varied MRO services are gathering traction in the digital MRO market to reduce the turnaround time, considerably increase overall operational efficiency in aviation.
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Expanding regulatory landscape has led to new safety norms that airlines world over may adhere to. This has also made a significant bearing on the trends affecting the uptake of digital MRO. The digital MRO market has also garnered a huge prospect in their potential in designing next generation of digital aftermarket services. Key end users are MRO corporations, airlines, and OEMs.
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Global Digital MRO Market: Growth Dynamics
Given the vast inroads that digitization has made in recent years, airline operators have been leveraging the potential of digital MRO at multiple levels. Their key propositions are reducing their annual cost, expanding their aftermarket services, optimizing their supply chain, integrating their various disparate systems, with an aim to deliver a higher customer-service experience.
Over the past few years, seeing the potential that digital MROs are capable of, the market has witnessed scores of investments by major airlines world over on AI, blockchain, digital twins, and big data analytics. Advances in additive manufacturing technologies are also bolstering new avenues in the market. Early adopters in the aviation industry are harnessing the potential of big data analytics and AI for increasingly strengthen their predictive maintenance and supply-chain capabilities. Increasing focus of civil airlines on consistent profitability levels and to bring new service delivery models are factors that also bolstered their investments in digital MRO solutions, thereby boosting the digital MRO market.
Global Digital MRO Market: Notable Developments
The digital MRO market has seen some attractive solutions. Apart from this, new avenues have emerged in the market from growing number of partnerships between stakeholders—airlines and aerospace companies–to bring cutting-edge predictive and maintenance technologies on board. This has given some scope to the solutions that work on mixed fleet predictive maintenance. A prominent U.S.-based airline Delta Air Lines has teamed up with Airbus. This will give Delta opportunity to harness its digital MRO capability including predictive maintenance with latter’s Skywise platform. The company opines that that the platform will used to improve predictive maintenance for the MRO of airframes, components, and engine considerably.
On the other hand, a number of top airlines of the world who are aggressively planning on customer-oriented expansion are bolstering their digital platforms by adding new automated solutions to their MRO suites. MRO companies have come to the fore to meet these needs. Lufthansa Technik, a Germany-based MRO company, has announced that it is intensely developing its independent digital platform AVIATAR to build on its digital MRO solutions for clients.
Various other such development initiatives are cementing higher potential in the digital MRO market.
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Global Digital MRO Market: Regional Assessment
Of the various regions, North America has witnessed several lucrative avenues over the past few years. The North America digital MRO market has flourished on the back of rapidly strengthening trend of digitization of MRO among OEMs and aviation industry. In addition, MRO companies are expanding their product portfolio, which is spurring investments by major airlines, especially in the U.S. Growing popularity of AI-powered solutions among end users has also expanded the revenue-generating potential of the region in the MRO market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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