WARRANTY MANAGEMENT SYSTEM MARKET ANALYSIS

Key Developments

• In September 2022, AAR subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, signed a new service agreement with Philippines-based low-cost carrier- Cebu Pacific. Under this agreement, Airinmar will provide Cebu Pacific with a comprehensive suite of support services, including aircraft warranty management and value engineering, to optimize the airline's maintenance spend and reduce component repair costs.
• In May 2022, as part of its business transformation strategy for WMS Group (UK) Ltd (WMS), Opteven launched a highly accessible and market-leading online claims platform for WMS dealers and repairers. This new platform aims to simplify and accelerate the warranty claims process, thus, reducing administrative time and providing a comprehensive and exceptional customer service experience.
• In April 2022, Hikvision, a leading IoT solution provider with video as its core competency, extended its global warranty on premium project products to five years. This new warranty is designed to simplify project maintenance and enhance cost efficiency for Hikvision customers.
• In June 2020, U.S.-based MSX International launched an advanced warranty management system aimed at eliminating warranty waste and streamlining business processes. This innovative development has helped boost growth and increase the market share of the companies utilizing the system.