Global Digital MRO Market is projected to be valued at USD 4,700 Million by 2030, registering a CAGR of 14.60% from 2019 to 2030.
The rising demand for new aircraft, driven by growth in air passenger traffic, has significantly contributed to the expansion of the digital MRO market. High competition in the market owing to the presence of several players is forcing service providers to focus on offering enhanced and customized services. Furthermore, increasing collaborations between the various industry players are expected to drive the growth of the market. For example, in October 2019, Airbus SAS and Delta Air Lines collaborated to develop predictive maintenance and health-monitoring solutions. However, the absence of common data standards and high costs of MRO software suites might hamper the growth of the market.
Reduced AOG time
Growth Opportunities in the Market
3D printing segment expected to be fastest growing: The 3D printing segment is expected to register the highest CAGR during the forecast period of 2019 to 2030. The rising adoption of 3D printing technology by MRO providers is expected to drive the growth of the segment. For example, in 2018, Lufthansa Technik opened a 3D printing center in Germany to manufacture lightweight aircraft parts. The use of 3D printing offers various benefits such as reduced aircraft weight, low replacement costs, and customization. Therefore, the segment is expected to register the highest CAGR during the review period.
Parts replacement segment expected to register the highest CAGR: The growth of the parts replacement segment can be attributed to the adoption of 3D printing technology as it helps reduce aircraft weight, lower replacement costs, and offers customization. Furthermore, the high costs associated with new aircraft are expected to drive the growth of the segment.
MRO providers segment to be fastest-growing: The segment is expected to register the highest CAGR during the forecast period of 2019 to 2030. Collaborations between digital MRO providers and airlines are expected to drive the growth of the segment. For example, in July 2019, Croatia Airlines extended its maintenance contract with Lufthansa Technik.
HCL Technologies (India)
SAP SE (Germany)
Ramco Systems (India)
IFS AB (Sweden)
Traxxall Technologies (Canada)
Honeywell International, Inc. (US)
General Electric (US)
Other Prominent Players
IBS Software (US)
Lufthansa Technik (Germany)
Collins Aerospace (US)
Airbus SAS (Netherlands)
Swiss AviationSoftware Ltd (Switzerland)
Ansys, Inc. (US)
Microsoft Corporation (US)