Aviation MRO sector is witnessing unparalleled infusion of cutting edge technology that are being integrated with several goals to improve on the productivity, efficiency, safety and cost of maintenance. Achieving these parameters will improve on performance of the aviation industry, with minimum losses due to downtime or accidents. There is a growing demand for accomplishing airworthiness to offer a better air travel experience and aviation industry is turning towards Maintenance, Repair and Overhaul (MRO) for the same. MRO services are also being utilized by national defense as well as aerospace researchers, resulting in a paradigm shift towards digitalizing MRO activities. The global MRO market was valued at USD 616.01 Billion in 2020, and is projected to be worth USD 701.30 Billion by 2026, registering a CAGR of 2.19 percent during the period of 2021-2026.
MRO service providers are leveraging a wide range of technologies such as artificial intelligence (AI), predictive analysis, robotics as well as IoT. As sensors become more accessible and inexpensive, manufacturers are better able to track equipment performance and maintenance needs, vastly reducing the cost of outdated routines. Fleet managers are using predictive analysis to compare historical trends and determine a potential failure that is likely to occur before a major damage takes place. Nowadays, when maintenance costs are exceeding fuel costs, some airlines are looking towards digital twinning to continuously monitor vital physical assets in real-time, such as engines, allowing them to plan maintenance more effectively. The digital twin of an actual working aircraft component can be linked to IT systems to help streamline and optimize maintenance processes and operational availability.
On this note, Aerospace and Defense Review magazine has compiled some of the most prominent MRO companies that can help its clients to strengthen operational capability and enable growth in the industry. Besides, the magazine also comprises of insights on the best industry practices, trends innovations and advice for aspiring CIOs and CXOs.
We present to you, Aerospace and Defense Review’s “Top 10 MRO Companies – 2022.