Budapest, June 30, 2021. – The total market size for high-tech digital MRO solutions is expected to grow from $ 606 million in 2020 to $ 1,809 million by 2030, representing an average annual growth rate of 11%. according to experts. AerinX aims to be a major player in this growing segment. As a milestone, the innovative company has partnered to implement its mixed reality-based aircraft maintenance solution with Sharjah-based VD Gulf with the base maintenance facility at Sharjah International Airport. .
The economic hardships faced by the aviation industry induced by COVID-19 are prompting MRO companies to introduce digital solutions that improve efficiency and productivity. For those companies which can provide their partners with more efficient and more technologically advanced services, can obtain a considerable competitive advantage after the large-scale global revival of passenger air traffic.
The first product of AerinX is mixed reality (MR) -based software that makes external surface inspections on aircraft faster, simpler, more accurate and better documented. Revolutionary technology helps maintenance engineers identify damage with precision and precision and reduces downtime and maintenance costs for the customer. The high-tech system projects frames, spars and previous damage onto the aircraft with advanced computer vision. In addition, it automatically records newly discovered damage and determines its exact location. AerinX software also facilitates damage assessment with a preloaded manufacturer SRM database.
An important milestone in the international market launch of the high-tech product was the successful pilot project in Dubai, in which Gulf VD tested the AerinX system under real industrial circumstances. Both sides were satisfied with the Early Adopter program, and as a result, they decided to continue their partnership with a new agreement to fully implement the innovative solution to the Sharjah-based MRO.
Even COVID-19 couldn’t crush the digitalization wave
The economic crisis caused by COVID-19 has accelerated digitization in several sectors, including the aircraft maintenance industry. The players in the segment have invested in information technology development projects and searched for technological solutions that improve efficiency for years, even before the outbreak of pandemics. The virus situation accelerated the scanning. According to experts, the aviation MRO software market is estimated to be worth USD 6.9 billion in 2020 and is expected to reach USD 8.0 billion by 2025. The major players in the aviation MRO software market are giants such as ‘IBM, SAP or GE Aviation. Alongside them, a growing number of smaller, agile and innovative companies are entering the market with their developments, mainly in the field of IoT, AI, Big Data, blockchain or technology. mixed / augmented or virtual reality.
“Based on our calculations, using our software can save 400 days of hangar capacity, 9,500 engineering hours and earn an average of $ 4 million in additional profit for a company with 10 hangar bays at narrow body. We are delighted to be able to test our technology at two major regional players as we have successfully carried out pilot projects at VD Gulf and at our strategic partner in Hungary. As a result, we are continuing our partnership with the two companies ” – underlined Bence Kiss, co-founder and CEO of AerinX.
AerinX is in advanced negotiations with other international companies, due to which their high-tech solution is expected to be implemented in major market players in the European Union, Hong Kong and the United States.
“Our goal is to have our system implemented with about half a dozen international partners by the end of this year.”- added Bence Kiss.
AerinX is also preparing for a roundtable in the coming months involving an international strategic investor to accelerate its penetration into the global market.