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Market Overview

The maintenance repair operations industry is expected to grow at a CAGR of 2.13% during the forecast period. MRO plays an essential role in the manufacturing process and supply chain management. An organization may encounter a huge loss in profits due to mismanagement in the supply chain if it does not have a proper MRO system in place. It may also hamper the timely supply of products to customers in an economical manner.

  • The key driver for the global MRO market is e-procurement, which offers a substantial solution to both the buyer and the seller by decreasing the paperwork, transactions, and workforce required. Process efficiency achieved through e-procurement results in less staff time spent in searching and ordering products and reconciling deliveries with invoices so potentially leading to reduced costs of employees can be reassigned.
  • Also, maintenance repair and operations help in reducing operational expenditure substantially through process efficiency and by optimized supply chain management. It also improves productivity and in turn, improves the bottom line. Further, the sustained overall economic and manufacturing growth continues to drive maintenance and repair demand in developed as well as developing economies.
  • Furthermore, the emerging technologies, coupled with the need for enhanced competitiveness, has transformed the MRO industry by way of innovation and introducing changes in organizational and technological aspects.
  • The growth in adoption of Industry 4.0 technologies, such as IIoT and the smart factory initiatives are substantially increasing the demands of MRO. To obtain a competitive edge in the market, the need to drive more value from assets increases, particularly in capital intensive industries, such as aerospace, oil & gas, mining, chemicals, and metal processing.
  • However, the industry lacks industry standards and regulations governing the MRO industry.



Scope of the Report


The maintenance repair and operations (MRO) include spare parts, equipment, consumables, etc. used by a company to manufacture an end product. MRO includes spare parts, equipment such as pumps and valves, consumables such as cleaning supplies, plant upkeep supplies such as lubricants, and activities completed to restore or maintain the functioning of needed equipment.

The three main types of maintenance considered in MRO are - Preventive Maintenance, Corrective Maintenance, Predictive Maintenance.

Key Market Trends


Aerospace & Defense Sector to Contribute for Significant Demand for MRO

  • Maintenance Repair and Operation (MRO) in the aerospace and defense industry includes services such as overhaul, inspection, repair, or modification of an aircraft or its component. The need for reducing the maintenance costs is demanding technological integration in the MRO activities, providing growth opportunities for the MRO industry in the aerospace & defense sector.
  • Also, the increasing number of military aircraft crashes requires the military departments to focus more on the periodic maintenance of the fleet. This is expected to augment the military aviation MRO to grow.
  • Further, rapid technological advancement in the aviation sector is urging different countries to maintain and modernize their fleet, propelling the growth of the MRO industry in the aerospace and defense sector.
  • Various companies are viewing expansion as a path to gain maximum market share in the industry. For instance, in June 2019, Collins Aerospace Systems, a unit of United Technologies Corp., announced a strategic investment in Singapore to develop an aerospace innovation hub in the region dedicated to advanced maintenance, repair and overhaul (MRO) processes and operations, as well as additive manufacturing processes and capabilities. The innovation hub demonstrates Collins Aerospace’s commitment to developing best practices and a continued effort to digitally transform the aerospace industry.



Asia-Pacific Expected to Register the Maximum Growth

  • The Asia-Pacific region is expected to exhibit the maximum growth in the maintenance repair and operations industry due to the growing number of developments taking place in the region.
  • Certain government regulations and government initiatives taken in the region are further augmenting market growth. MRO development is being set as a national objective which is common in the Asia-Pacific region.
  • For instance, the Indian government has taken up MRO development as a key issue in its new aviation strategy. Also, South Korea is looking forward to expand its MRO industry. While Singapore still dominates the region, new projects are also underway in Indonesia, Thailand, Vietnam, Malaysia, and the Philippines.
  • Also, increasing product penetration in the manufacturing industry owing to rising standardization of equipment and services in critical operations is likely to boost the market growth. Furthermore, the development of advanced manufacturing techniques in the region owing to high investment in R&D activities is estimated to fuel market growth.



Competitive Landscape


The global maintenance repair and operations market is moderately fragmented owing to the presence of a number of MRO solution providers globally. The vendors are viewing collaboration and innovation as a path towards gaining maximum market share. They are investing in R&D to utilize it towards product improvisation and introduction of new products and expanding their reach globally.

  • April 2019 - Boeing and Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO) have signed an MRO services agreement to work together to provide MRO support in the Asia-Pacific region. Through this agreement Boeing will provide MRO maintenance training and access to maintenance data and technical support, while GAMECO commits to maintaining Boeing’s rigorous quality standards for MRO services.



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