Global Digital Aerospace MRO Market Overview And Prospects
Learn about the global digital aerospace MRO market through The Business Research Company, which provides information on digital aerospace MRO market size, digital aerospace MRO market drivers and restraints, digital aerospace MRO market players, the COVID-19 impact on the digital aerospace MRO market, and more.
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 growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The digital aerospace MRO market is expected to reach $1,018.1 million in 2025 at a CAGR of 17.1%.
The increase in inflight passengers and the need for more aircraft with minimal downtime for maintenance is expected to drive digital aerospace MRO manufacturing, thus driving the market during the forecast period.
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The digital aerospace MRO market consists of sales of maintenance, repair, and operations (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.
Global digital aerospace MRO market segments include:
By Technology: Predictive Maintenance, AR Or VR, 3D Printing, Artificial Intelligence, Internet Of Things, Robotics, Others
By Application: Inspection, Performance Monitoring, Predictive Analysis, Part Replacement, Mobility And Functionality
By End User: OEMs, Airlines, MROs, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the digital aerospace MRO market in 2020.
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.
TBRC’s digital aerospace MRO market report covers:
Major Market Players: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Digital Aerospace MRO Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides digital aerospace MRO market overviews, analyzes and forecasts market size, share, digital aerospace MRO market players, digital aerospace MRO market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s digital aerospace MRO market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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