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Aircraft MRO Market To Witness CAGR Exceeding 4.7% By 2025 Owing To Rising Number Of Aircraft OEMs In Maintenance & Repair Sector


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FELTON, Calif., Jan. 19, 2021 /PRNewswire/ The global aircraft MRO market is estimated to attain USD 104.46 billion, by the end of 2025, and is anticipated to grow at a CAGR of 4.7% from 2019 to 2025, according to a new report by Million Insights. The increasing number of aircraft OEMs in the maintenance and repair sector is expected to boost the market growth.
According to the air transport association, MRO services constitute around15.0% of the overall airline operating costs. Moreover, the growing investment by the MRO providers and OEMs on technology is helping to improve the efficiency. The profitability of the industry is dependent on old planes maintenance, which is primarily supporting the MRO service market. ....

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Military Aerospace & Defence Lifecycle Management Market Size Worth $14.2 Billion By 2027: Grand View Research, Inc.


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SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ The global military aerospace and defense lifecycle management market size is anticipated
to reach USD 14.2 billion by 2027, registering a CAGR of 8.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. The growing demand for Product Lifecycle Management (PLM) software solutions from the defense equipment manufacturers and suppliers is expected to drive the market growth. PLM software solutions help the defense equipment manufacturers and suppliers in every facet of the process, right from the initial concept to development and testing processes, and efficient manufacturing.
Key suggestions from the report:
Military aerospace & defense companies are aggressively adopting the digital twin technology to improve the product design, process design, and maintenance approaches ....

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