In terms of revenue, the Global Aviation MRO Software Market is expected to reach USD 8.1 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 4.40% from 2022 to 2028.
The Aviation MRO Software Market is highly fragmented as a result of the clear presence of a sizable number of players in various parts and regions that are actively contributing to the performance of the global market and, as a result, aid it in capturing an outstanding market share during the current forecast period that will be coming to an end. As a component of the global market, aircraft maintenance software solutions have been identified to meet the rising demand, particularly during the current forecast period that will soon come to an end.
Key Highlights from Report
· The cloud-based segment is anticipated to grow at the highest rate during the forecast period. Software-as-a-service or cloud-based solutions are offered as a service, with the data being managed by the ERP vendor and the services being accessed via a web browser. The market has recently embraced a hybrid model where cloud software is housed on a business's private servers.
· The market's largest revenue share belonged to the MROs subsegment. This is brought on by the rise in demand for MRO businesses' services and software for aviation maintenance. The workload of the MRO facilities is predicted to increase over the next ten years due to the expanding aircraft fleet, necessitating a greater need to speed up MRO. Additionally, there has been a significant rise in outsourcing support contracts in recent years.
· Asia Pacificis expected to hold a dominant position in the market thanks to Oracle Corporation, Boeing Company, GE Aviation, and other important companies. Additionally, the increasing use of software for maintenance and forecasting will improve the regional picture.
The Aviation MRO Software sector has been observing an increase in the frequency of elements anticipated to prevent the global market from expanding as forecasted for the next few years. Lack of understanding combined with the high cost of installing market software is anticipated to limit the ability of the Global Aviation MRO Software Market to expand. The growing requirement to maintain and upgrade aging and in-service aircraft to improve performance fuels the worldwide aviation MRO market. Additionally, government measures to enforce tight laws and regulations are having a good effect on markets worldwide. In addition, it is anticipated that rising technical advancements and digitization in aviation MRO will support the market's growth over the coming years.
North America holds the greatest revenue share and is predicted to keep it during the projected period. Due to the growing demand for maintenance specialists and a notable increase in new commercial aircraft deliveries in developing nations like India and China., The main cause of the growing demand for maintenance professionals and MRO software is the growth in passenger traffic, particularly in nations like India, China, Japan, and Singapore. Numerous significant Aviation MRO Software suppliers in this area contribute to the market's anticipated rapid expansion.
The Global Aviation MRO Software Market is Segmented as follows
- Enterprise Resource Planning (ERP) Solutions
- Point Solutions
- Deployment Modes
- On Premise
- MRO Companies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Aviation MRO Software Market is
IBS Software (India), Flatirons Solutions Inc. (US), Rusada (Switzerland), Sopra Steria (France), Communications Software Limited (UK), Aviation Intertec Services (Canada), GE Aviation (US), BytzSoft Technologies Pvt. Ltd. (India), Lufthansa Technik AG (Germany), Tracware Limited (UK), Aerosoft Systems Inc. (US), FLY Online Tools (US)
The Global Aviation MRO Software Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis