CHICAGO, May 5, 2023 /PRNewswire/ -- The digital MRO market is estimated to be USD 0.9 billion in 2023 and is projected to reach USD 2.0 billion by 2030, at a CAGR of 13.0% during the forecast period according to a new report by MarketsandMarkets. The increasing adoption of digital technologies by medium and small MROs and airlines is driving the growth of the digital MRO market.
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193 - Tables
48 - Figures
221 - Pages
Digital MRO Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $0.9 billion |
Estimated Value by 2030 | $2.0 billion |
Growth Rate | Poised to grow at a CAGR of 13.0% |
Market Size Available for | 2016-2030 |
Forecast Period | 2020-2030 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Technology, End User, Application and Region |
Geographies Covered | North America, Europe, Asia-Pacific, Middle East Rest of the World |
Key Market Challenge | Increasing cybersecurity concerns |
Key Market Opportunities | Growing demand for 3D-printed parts and robotic inspection |
Key Market Drivers | Growing adoption of software-as-a-service (SaaS) |
Based on application, the predictive maintenance segment is estimated to lead the digital MRO market during the forecast period.
The predictive maintenance segment is projected to grow at the highest CAGR in the digital MRO industry during the forecasted period. The growth of this market is due to the reduced aircraft downtime and MRO costs. Increased adoption of digital technologies to predict failures by large MROs, OEMs and airlines is expected to drive the predictive maintenance segment of the market.
Based on end-user, the MROs segment is estimated to lead the digital MRO market during the forecast period.
Based on end-user, the MROs segment is projected to grow at the highest CAGR in the digital MRO market during the forecasted period. The growth of this market is attributed to the increased focus on enhancing the IT capabilities by shifting from ERP module to digitization of the entire ecosystem.
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Based on region, the Asia Pacific segment is estimated to have the highest CAGR during the forecast period.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Increased adopting digital technologies to optimize maintenance processes and reduce maintenance costs by airlines is driving the growth of this market. Increasing demand for MRO services in the manufacturing and aviation sectors is driving the digital MRO market growth.
Major players operating in the digital MRO companies are IBM (US), SAP (Germany), Ramco Systems (India), Swiss Aviation Software Inc. (Switzerland), Lufthansa Technik (Germany), and Honeywell International Inc.(US) among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific and Rest of World.
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