With 4.93% CAGR, Aviation MRO Software Market to Worth USD 9.76 Billion by 2029
The global aviation MRO software market covered major segments Size, Share & COVID-19 Impact Analysis, By Solution (Software (ERP Solution, Point Solution, Suite), and Services (Deployment & Integration, Consulting, Support, Maintenance & Upgradation)), By Function (Maintenance Management, Operations Management, and Others), Business Management (Accounts & Finance, Sales & Marketing, and Human Resources), and Electronic Flightbag & Logbook Management), By Point of Sale (Subscription and Ownership), By Deployment Type (On-premise and Cloud), By End-use (Airline Operator, MROs, and OEMs) and Regional Forecast, 2022-2029.
Pune, India, June 12, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the aviation MRO software market reached USD 6.73 billion in 2021. It is expected that the market will continue to grow steadily, with a projected value of USD 9.76 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.93% during the forecast period.
The aviation MRO (Maintenance, Repair, and Overhaul) software industry refers to the software solutions and tools that are used by companies in the aviation industry to manage and streamline their maintenance, repair, and overhaul operations. These software solutions can include functions such as inventory management, work order management, predictive maintenance, and fleet management, among others. Aviation MRO software is a growing industry, as airlines and other aviation companies seek to increase efficiency and reduce costs through the use of technology.
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List of Key Players Mentioned in the Report:
- AeroSoft Systems Inc. (Canada)
- ATP Inc. (U.S.)
- Aviation Intertec Services Inc. (Canada)
- The Boeing Company (U.S.)
- CAMP Systems International Inc. (U.S.)
- Communications Software (Airline Systems) Limited (U.K.)
- GE Aviation (U.S.)
- HCL Technologies Limited (India)
- IBM Corporation (U.S.)
- IBS Software Pvt. Ltd. (India)
- IFS AB (Sweden)
- Jet Support Services Inc. (U.S.)
- Lufthansa Technik AG (Germany)
- Oracle Corporation (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.93% |
| 2029 Value Projection | USD 9.76 Billion |
| Market Size in 2022 | USD 6.95 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 327 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Aviation MRO Software Market Growth Drivers | Increase in Demand for Advanced MRO due to Aircraft Fleet Expansion to Boost Market Growth |
| Increase in MRO Spending due to Aircraft Fleet Expansion to Boost Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/aviation-mro-software-market-101798
COVID-19 Impacts:
Fiscal Effect of COVID-19 Pandemic on Aviation MRO Industry to Obstruct Market Growth
The global COVID-19 pandemic has influenced the market for aviation MRO software in 2020 and 2021. Owing to the lockdown, there was a major effect on the aviation industry, leading to a reduction in aircraft manufacturing, thereby affecting the aircraft supplies. The decrease in aircraft deliveries has dramatically decreased the MRO services and software demand.
Segments:
Based on solution, the market is divided into software and services.
The market is classified into subscription and ownership based on point of sale.
Based on function, the market is classified as maintenance management, operations management, business management, and electronic flightbag & logbook management.
The market is classified into on-premise and cloud by deployment type.
The market is classified into airline operators, MROs, and OEMs based on end use. The airline operators segment was the largest segment in 2021.
The market for aviation MRO software is segmented into North America, Europe, Asia Pacific, the Middle East, and the Rest of the World.
Report Coverage:
Our team of experts has employed advanced data extraction techniques to ensure accurate estimates and a thorough analysis of the market dynamics of aviation MRO software. To further enhance the precision of our analysis, we have also accessed a wide range of local and global paid data sources, enabling us to provide up-to-date information on the market. By leveraging this data, we aim to help shareholders and business experts identify the most promising areas for investment and capitalize on the opportunities presented by the aviation MRO software market.
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Driving Factors:
Growth in Need for Progressive MRO Due to Aircraft Fleet Expansion to Spur Development
Airlines throughout the globe are concentrated on extending their aircraft fleet size due to increasing air passenger traffic. The market’s development in the forthcoming decade can be accredited to the growing number of aircraft fleets. The MRO sector is predicted to observe sturdy growth through the upcoming decade, owing to the surging demand for air travel and a rising aircraft fleet. The MRO software prices account for nearly one-fifth of the airline operational charges. The ever-increasing traveler-growth trend will propel the aviation MRO software market growth.
Regional Insights:
North America to Lead due to Presence of Major Companies Operating in Regional Market
North America dominated the market in 2021. North America’s market size stood at USD 1.85 million in 2021. The U.S. led the market the by holding the largest aviation MRO software market share in 2021.
Europe’s market size is estimated to grow at a considerable rate, owing to an augmentation in passenger air traffic. The existence of prime companies and original equipment manufacturers, such as Swiss Aviation Software and Lufthansa Technik, carry out an integral part in the regional market growth.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. Digitalization in this region is bolstering the technical viewpoint in the aeronautical industry for operative and proficient base controlling, operation administration as well as line management.
Competitive Landscape:
Radical Product Launches by Pivotal Players to Foster Market Growth
The fundamental players present in the market adopt numerous stratagems to boost their position in the market as dominating corporations. One such vital tactics is purchasing firms to boost the brand value among users.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Aviation MRO Software Market
- Impact of COVID-19 on Global Aviation MRO Software Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential Opportunities Due to COVID-19 Outbreak
- Global Aviation MRO Software Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Solution
- Software
- Enterprise Resource Planning (ERP) Solution
- Point Solution
- Suite
- Services
- Deployment & Integration
- Consulting
- Support, Maintenance & Up-gradation
- Software
- Market Analysis, Insights and Forecast – By Function
- Maintenance Management
- Engine Maintenance
- Base Maintenance
- Line Maintenance
- Fleet Maintenance
- Operations Management
- Training, Safety & Quality Assurance
- Supply Chain Management
- Engineering & CAMO
- Others
- Business Management
- Accounts & Finance
- Sales & Marketing
- Human Resource
- Electronic Flight bag & Logbook Management
- Maintenance Management
- Market Analysis, Insights and Forecast – By Point of Sale
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- Subscription
- Ownership
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- Market Analysis, Insights and Forecast – By Deployment Type
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- On-premise
- Cloud
-
- Market Analysis, Insights and Forecast – By End-Use
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- Airline Operator
- MROs
- OEMs
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- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- The Middle East
- Rest of the world
TOC Continued…!
Key Industry Development:
February 2022: Oracle Corporation presented novel logistics aspects within its software platforms such as Fusion Cloud Transportation Management, Fusion Cloud SCM, and Fusion Cloud Global Trade Management, which shall assist in decreasing prices, risk diminishing, resources scheduling, enhancing customer service experience, and providing swift business functioning.
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