How Aircraft Maintenance can profit from Automation
The maintenance, repair, and overhaul (MRO) process is an essential and unavoidable aspect of every business. A proper MRO of an aircraft or its component can help businesses to avoid significant risks to their survival. Thus, aviation industry players majorly focus on creating appropriate business processes and infrastructure to support.
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The growth of the commercial as well as military segments in the aviation industry is likely to fuel the MRO market growth during the forecast period. Further, due to growth in the global population that can afford air travel is one of the factors boosting the growth of the aviation MRO market. With the increase in the population, the demand for new aircraft procurement is also rising along with the surge in shift timings, thus leading to the need for frequent MRO activities. Additionally, improved service quality, increased competition, and lowered service fares are among the crucial factors benefitting both mature and developing market segments around the globe.
With the rapidly growing aviation industry from the past few years, the demand for airline MRO services is also increasing. Emerging economies, such as those in APAC, are highly focused on extending MRO services to commercial as well as military aircraft companies. Economic growth, increasing passengers, and growing aviation infrastructure spending across APAC are the factors driving unparalleled growth in the aircraft MRO market in APAC. According to the International Air Transport Association (IATA), the total number of new passengers would increase over the next 20 years and it would further increase the demand for MRO activities for up-gradation of the aircraft fleet. The rising number of middle-class travelers, especially in APAC countries such as India, China, and Singapore, is the main factor contributing to the growth of air travel which is consequently increasing the need for aircraft MRO services in the region. The governments in the above-mentioned countries, as well as other emerging economies, are supporting the growth of aviation MRO services as it is a crucial strategy to support the economic goals of the region by focusing on enhancing the aircraft MRO activities.