LONDON, Feb. 8, 2017 /PRNewswire/ -- Internet Protocol-based Software and Devices Offer Improved Functionality and Cost Control while Health Management Systems Usher Market toward a Truly Connected Flight and MRO Environment
The global aerospace maintenance, repair, and overhaul (MRO) market, like many others, is in a state of change. The introduction of enhanced Internet protocol-based software and equipment is driving the market in new directions. This insight covers the market from 2016 to 2026. Logistics to support MRO and spares sales is a significant part of the overall aerospace industry.
New platform procurements will grow at a compound annual growth rate (CAGR) of 1.4%. The MRO portion of the global aerospace market will grow at a CAGR of 1.6% and will present a 2026 market size of $88.17 billion. Over the 2016 to 2026 period, the global MRO revenue share from North America (NA) is forecast to decline from 27.5% to 24.6%, while Europe is expected to decline from 27.3% to 24.3%. Meanwhile, Asia-Pacific (APAC) is expected to grow from 28.4% to 31.1% of the total market. Latin America (LATAM) will grow from 4.9% to 5.1% and the Middle East and Africa (MEA) from 11.9% to 14.9%. Improved software, mobile devices, and health management systems are moving the MRO market toward a truly connected environment. The first steps have been taken. The next steps will change the face of MRO.
- Analysis of IoT-enabled devices and their potential impact on work structure and efficiency
- Discussion of information issues (areas in need of transformation, MRO challenges, logistics value chain)
- Outline of software solutions (ERP, maintenance management, health management, technical publications, technical documentation management)
- View of IoT horizon
Key Questions This Study Will Answer:
- Which regions offer the most opportunities for MRO service providers?
- How can IT businesses capture new market opportunities?
- Where will the market demand be in 10 years?
- Should any capability gaps be anticipated, and if so, which ones?
- Are airworthiness authorities involved in the transformation, and if so, how?
- What are the best market opportunities for commercial IoT equipment?
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