APRIL - 2023AEROSPACEDEFENSEREVIEW.COM6EditorialTechnological advances in the MRO industry are improving the availability and quality of data, driving efficiency and safety and reducing overall costs. Organizations are rapidly digitizing their MRO processes to optimize inventory levels, streamline procurement, improve supply chain relationships, and stay ahead of equipment failures. According to a report by Verified Market Research, the global MRO market was valued at $79.2 billion in 2022 and is projected to reach $133.69 billion by 2030, registering a CAGR of 5.45 percent between 2023-2030.The growing need to reduce maintenance costs and unplanned downtimes and the proliferation of digital transformation in MRO processes are propelling the growth of the MRO industry. At the same time, the rising demand for remote maintenance and repair and the emergence of 5G technology is also playing a significant role in creating new opportunities in the sector.From new environmental restrictions to rapid technological advances, the aviation industry is constantly improving and adapting its service offerings. An increasing number of aircraft maintenance companies are leveraging digital replicas of aircraft and aircraft components to test new designs and predict how they will perform in the real world. At the same time, predictive maintenance enables MROs to improve safety, reduce downtime, and save money, while cloud-based MRO solutions assist in managing maintenance schedules and keeping track of aircraft components. This edition of Aerospace and Defense Review highlights the recent developments in the MRO arena and delivers insights into how businesses are aligning with these trends to transform legacy practices.We have curated thought leadership articles from industry experts like the Vice President of Bombardier Defense. We also took a deep dive into the market trends to narrow down the list of companies delivering robust MRO services. Equipped with innovative technological capabilities, companies like Soniq Aerospace and Rice Lake Air Center help transform businesses at the cloverleaf of various disruptive technologies. We hope this edition of Aerospace and Defense Review's MRO companies and aircraft maintenance service providers helps you build the partnership you and your organization need to foster an environment driven by efficient technology. Let us know your thoughts! Advanced MRO Practices for Improved Aircraft MaintenanceJonathan AllredManaging Editoreditor@aerospacedefensereview.comCopyright © 2023 ValleyMedia Inc., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.April - 2023, Vol 05 - Issue 02, ISSN 2691-395XPublished by ValleyMedia Inc.To subscribe to Aerospace & Defense ReviewVisit www.aerospacedefensereview.comManaging Editor Jonathan AllredEditorial StaffAndrea FrancisCatalina JosephJohn SmithRosalind Jacobs Jem ElizabethRichard Taylor VisualizerAsher blakeEmailsales@aerospacedefensereview.comeditor@aerospacedefensereview.commarketing@aerospacedefensereview.comDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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