The Business Research Company’s Digital Aerospace MRO Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, September 2, 2021 /EINPresswire.com/ — The increase in inflight passengers and the need for more aircraft with minimal downtime for maintenance is expected to propel the growth of the global digital aerospace MRO market in the forecast period. Over the years there has been an increase in the global air traffic, which in turn increased the need for more aircrafts with minimum downtime. Any establishment, workshop, or hangar that engages in and executes professional aircraft maintenance is referred to as an MRO facility. Through the employment of aviation ground support equipment, MRO facilities and experts assist in keeping airplanes running safely and reliably. For instance, according to a report published by the international civil aviation organization (ICAO) in 2019, the cumulative number of passengers traveling on scheduled services increased by 3.6% over the previous year, to 4.5 billion, while the number of departures increased by 1.7% to 38.3 million and passenger traffic (total scheduled revenue passenger-kilometers executed (RPKs)) grew by 4.9% in 2019, totaling 8686 billion RPKs.
The global digital aerospace MRO market size 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 global digital aerospace MRO market is expected to reach $1,018.1 million in 2025 at a CAGR of 17.1%.
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Major players in the digital aerospace MRO market are 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.
North America was the largest region in the digital aerospace MRO market in 2020. Europe was the second-largest market in the digital aerospace MRO market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
TBRC’s global digital aerospace MRO market report is segmented by technology into predictive maintenance, AR or VR, 3D printing, artificial intelligence, internet of things, robotics, others, by application into inspection, performance monitoring, predictive analysis, part replacement, mobility and functionality, and by end user into OEMs, airlines, MROs, others.
Digital Aerospace MRO Global Market Report 2021 – By Technology (Predictive Maintenance, AR Or VR, 3D Printing, Artificial Intelligence, Internet Of Things, Robotics), By Application (Inspection, Performance Monitoring, Predictive Analysis, Part Replacement, Mobility And Functionality), By End User (OEMs, Airlines, MROs), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides digital aerospace MRO market overview, forecast digital aerospace MRO market size and growth for the whole market, digital aerospace MRO market segments, and geographies, digital aerospace MRO market trends, digital aerospace MRO market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Aerospace Global Market Report 2021 – By Type (Commercial Aircraft, Aircraft Maintenance, Repair and Overhauling Services, Aerospace Support and Auxiliary Equipment), By Size (Wide-Body, Narrow-Body, Regional), By End-User (Government, Private Sector), By Operation (Autonomous Aircraft, Manual), COVID-19 Impact And Recovery
Aircraft Maintenance, Repair And Overhauling Services Global Market Report 2021 – By Type (Commercial Aircrafts MRO Services, Commercial Helicopters MRO Services, Commercial Gliders and Drones MRO Services, Aircraft Turbines MRO Services, Aircraft Engines MRO Services, Rocket Engines MRO Services), By Aircraft Division (Engine, Cabin Interior, Airframe, Avionics), By Size (Wide-Body, Narrow-Body, Regional), By Service Type (Annual Maintenance Contract, Individual Works), COVID-19 Impact And Recovery
Passenger Aircrafts Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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