Digital MRO Market: Market Segments: By Technology (Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin and Internet of Things (IoT)); By Application (Inspection, Performance Monitoring, Predictive Analysis, Part Replacement and Mobility & Functionality); By End User (OEMs, Airlines and MROs); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

Product Overview

Maintenance, repair, and operations (MRO) refers to a mechanism that in a working state preserves, repairs, and retains components. There are three types of MRO maintenance: preventive maintenance, predictive maintenance, and corrective maintenance. There are various kinds of innovations integrated into the MRO with the advent of digitalization, such as 3D printing, artificial intelligence, big data analytics, and other advanced technologies.

Market Highlights

Digital MRO Market is expected to project a notable CAGR of 11.2% in 2030.

Digital MRO Market to surpass USD 1,820 billion by 2030 from USD 586 million in 2018 at a CAGR of 11.2% throughout the forecast period, i.e., 2019-30. The growing digitalization activities among MROs, increasing Software-as-a-Services (SaaS) penetration across the aviation industry, and the increasing need to enhance the maintenance, repair & overhaul of existing aircraft are the key drivers contributing to the growth of the Global Digital MRO market

Digital MRO Market: Segments

Artificial Intelligence segment to grow with the highest CAGR of XX.X% during 2019-30

Digital MRO Market is segmented by technology as Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin and IOT. The greater market share of XX% in 2018 was accounted by predictive maintenance segment of the Digital MRO market owing to easy adoption of predictive maintenance tools into various indigenous and non-indigenous operating systems. Various industry participants and IT industries are integrating predictive maintenance tools with their overall software suite/offering, positively catering to the segment. Moreover, artificial Intelligence segment is expected to grow at a higher CAGR during the forecast period owing to the growing adoption of artificial intelligence due to the increase in demand for predictive maintenance, troubleshooting, and analysis of the previous failures.

Digital MRO Market: Market Dynamics

Drivers

Increasing digitalization activities among MROs

The convergence of artificial intelligence and technical developments and the Internet of Things with current operations speeds up processes and dramatically decreases the time and costs of operations. The need of the hour in the aviation industry is more production within a short timeframe.

Restrain

High cost of MRO software suites

Airlines and MROs are focused on growing investments in the procurement of MRO software for advanced aviation. Before making procurement decisions, however, a proper understanding of core MRO functionalities is needed. Feasibility analysis, which takes several months, is required to introduce aviation MRO software. Many tier 2 and tier 3 MROs have small implementation technology budgets that serve as a barrier to the adoption of MRO aviation applications.

Digital MRO Market: Regions

Digital MRO Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.

Digital MRO Market in North America held the largest market share of XX.X% in the year 2018 and will continue its lead through the forecast period due to the presence of large and medium-sized MROs as well as airlines in this area is attributed to the rising number of deliveries of aircraft. Moreover, the growing digital transformation of MRO and MRO services and the introduction of various revolutionary technologies such as AI, IoT, 3D printing and digital twins to manage and optimize challenging maintenance and repair tasks continue to drive market growth. By integrating technical advances into the product portfolio, the presence of major players such as Microsoft and Google would fuel the growth of the industry. Increased R&D company disbursements will increase market growth across the region.

Digital MRO Market: Key Players

• Ansys

o Company Overview

o Business Strategy

o Key Product Offerings

o Financial Performance

o Key Performance Indicators

o Risk Analysis

o Recent Development

o Regional Presence

o SWOT Analysis

• Boeing

• Capgemini

• General Electric

• Hexaware Technologies

• Honeywell International Inc.

• IFS

• Lufthansa Technik

• Ramco System

• SAP SE

Digital MRO Market report also contains analysis on:

Digital MRO Market Segments:

By Technology:

• Predictive Maintenance

• AR/VR

• 3D Printing

• Blockchain

• Artificial Intelligence

• Robotics

• Big Data Analytics

• Digital Twin

• Internet of Things (IoT)

By Application:

• Inspection

• Performance Monitoring

• Predictive Analysis

• Part Replacement

• Mobility & Functionality

By End User:

• OEMs

• Airlines

• MROs

• Digital MRO Market Dynamics

• Digital MRO Market Size

• Supply & Demand

• Current Trends/Issues/Challenges

• Competition & Companies Involved in the Market

• Value Chain of the Market

• Market Drivers and Restraints

Contents

1. Executive Summary

2. Digital MRO Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Digital MRO Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Digital MRO Market

11.1. Market Size & forecast, 2019A-2030F

11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12. Digital MRO: Market Segmentation

12.1. By Regions

12.1.1. North America:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.2. Europe:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.3. Asia-Pacific:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.4. MEA:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.5. Latin America:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2. By Technology: Market Share (2020-2030F)

12.2.1. Predictive Maintenance, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.2. AR/VR, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.3. 3D Printing, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.4. Blockchain, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.5. Artificial Intelligence, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.6. Robotics, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.7. Big Data Analytics, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.8. Digital Twin, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.9. Internet of Things (IoT), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3 By Application: Market Share (2020-2030F)

12.3.1. Inspection, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.2. Performance Monitoring, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.3. Predictive Analysis, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.4. Part Replacement, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.5. Mobility & Functionality, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4 By End User: Market Share (2020-2030F)

12.4.1. OEMs, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.2. Airlines, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.3. MROs, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

13. Company Profile

13.1.1. Hexaware Technologies

13.1.2. Company Overview

13.1.3. Company Total Revenue (Financials)

13.1.4. Market Potential

13.1.5. Global Presence

13.1.6. Key Performance Indicators

13.1.7. SWOT Analysis

13.1.8. Product Launch

13.2. Ansys

13.3. Boeing

13.4. Capgemini

13.5. General Electric

13.6. Hexaware Technologies

13.7. Honeywell International Inc.

13.8. IFS

13.9. Lufthansa Technik

13.10. Ramco System

13.11. SAP SE

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)