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Digital MRO Market Trends

  • Report ID: GMI10479
  • Published Date: Jul 2024
  • Report Format: PDF

Digital MRO Market Trends

The Digital MRO (Maintenance, Repair, and Operations) industry is witnessing rapid evolution, propelled by transformative trends. Key among these is the integration of Internet of Things (IoT) technologies and smart sensors. This integration empowers real-time equipment monitoring and data collection, paving the way for predictive maintenance. By offering actionable insights into equipment performance and identifying potential issues before they escalate, this shift is pivotal in averting failures.
 

For instance, the Federal Aviation Administration (FAA) has been actively promoting the adoption of IoT in aviation maintenance to enhance safety and efficiency. Moreover, the market is witnessing a surge in the adoption of cloud-based solutions. These solutions, known for their scalability and flexibility, not only support remote access but also seamlessly integrate with other enterprise systems.
 

Artificial Intelligence (AI) and machine learning stand out as game-changers in the Digital MRO landscape. They enhance predictive accuracy and automate routine tasks. AI tools, powered by machine learning algorithms, delve into complex datasets, detecting anomalies and predicting failures. As these algorithms evolve, so do their predictions. The U.S. Department of Defense has been investing in AI-driven maintenance systems to improve the reliability of military equipment.
 

Simultaneously, the industry is placing heightened emphasis on cybersecurity. This focus aims to shield sensitive data and uphold the integrity of digital systems. Collectively, these trends are steering the industry towards more proactive, efficient, and secure maintenance practices, reshaping organizational approaches to MRO activities.

Authors: Suraj Gujar , Saptadeep Das

Frequently Asked Questions (FAQ) :

The market size of digital MRO reached USD 1.13 billion in 2023 and is set to register over 13.4% CAGR over 2024-2032, driven by the rise of IoT technologies.

The predictive maintenance digital MRO segment accounted for over 26% share in 2023, due to its ability to forecast equipment failures before they occur.

North America market recorded over 35% share in 2023, driven by advanced industrial infrastructure and early adoption of digital technologies.

IBM Corporation, SAP, The Boeing Company, General Electric, Oracle Corporation, Lufthansa Technik AG, and Airbus SE among others.

Digital MRO Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 300
  • Countries covered: 21
  • Pages: 230
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