Railway aftermarket is poised to garner exponential growth given to the pressing requirement for corrective and preventive maintenance measures in railway systems. In order to streamline day to day operations, the global railway sector is constantly required to overhaul its system periodically. 

Over the past few years, numerous rail operators have grown to become more inclined towards advanced maintenance solutions over basic. As a result of this, the railway department is able to limit breakdowns and malfunctions during operations. Apparently, railway malfunctions cause heavy financial losses as well as impact regular commuters.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4511

Amplifying inclination of rail operators towards the utilization of innovative methods to maintain technical systems will escalate railway aftermarket share. Railway systems face massive financial losses due to malfunctioning and breakdown of tracks. Thus, rail operators are focusing on automation and real-time monitoring to predict future maintenance decisions and reduce financial losses. For example, the European Union invested in the OPTIRAIL project built on AI and computational intelligence technologies, which provides implications and cost for repairing rail geometrical conditions and new installations.

Metro rail extension projects are emphasizing on the introduction of new core rail systems and metro trains, which will create substantial growth opportunities for railway aftermarket. For example, in November 2019, the government of New South Wales (NSW) awarded a contract worth $1.3 billion to Northwest Rapid Transit (NRT) consortium for the extension of Sydney Metro rail project in Australia. The amount was allocated for the operation and maintenance of North West and City and Southwest lines by 2034.

Adoption of novel technologies, such as advanced analytics solutions and big data among component/third party suppliers is on the rise for development of product portfolios. For example, in March 2017, Knorr-Bremse Group implemented OpenText Analytics to support intelligent fleet management and condition-based maintenance. These services facilitate detection of potential failures in initial stage. Deployment of advanced analytics was targeted to leverage condition-based maintenance for enhancing maintenance efficiency.

Railway aftermarket component suppliers are looking forward to gaining new business opportunities by integration of digital solutions. Railway aftermarket companies are enhancing their expertise to develop innovative data-driven maintenance services. They are also investing heavy amounts in research & development activities to gain an edge over the market, which will significantly push railway aftermarket growth.

Request for a Customization of this research report @ https://www.decresearch.com/roc/4511

Charts & Figures

FIG 1    Railway aftermarket segmentation

FIG 2   Industry size and forecast, (USD Billion), 2016 – 2027

FIG 3   Industry ecosystem analysis

FIG 4   Growth potential analysis, 2018

FIG 5   Porter’s analysis

FIG 6   Railway aftermarket PESTEL analysis

FIG 7   SWOT analysis, CRRC

FIG 8   SWOT analysis, Siemens Mobility

FIG 9   SWOT analysis, ZF Friedrichshafen

FIG 10   SWOT analysis, Stadler

FIG 11   SWOT anaysis, Bombardier Transportation

FIG 12   SWOT analysis, Alstom

FIG 13   SWOT analysis, Knorr-Bremse

FIG 14   SWOT analysis, Harsco Rail

FIG 15   SWOT analysis, Tidyco Ltd

FIG 16   SWOT analysis, Wabtec

FIG 17   SWOT analysis, Kingrail

FIG 18   SWOT analysis, CIM Equipment

FIG 19   SWOT analysis, Powerail

FIG 20   SWOT analysis, Skinest Group

FIG 21   SWOT analysis, Caterpillar

FIG 22   SWOT analysis, ABB

FIG 23   SWOT analysis, Crown Rail Spares

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/railway-aftermarket