DUBLIN, April 14, 2020 /PRNewswire/ -- The "MRO Software Market in Aviation by End User (Operators, OEMs, MROs, Lessors), Solution (Software, Services), Deployment Type (On-premises, Cloud), Function (Maintenance, Operations, Business Management), Pricing Model, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The MRO software market in aviation is projected to grow from USD 6.9 billion in 2020 to USD 8 billion by 2025, at a CAGR of 2.9% during the forecast period.
The increase in demand for reduction in turnaround time of maintenance operations and rise in adoption of software-as-a-service are some of the major factors driving the market for aviation MRO software. However, budget restraints are limiting the overall growth of the market.
Based on pricing model, subscription model segment is anticipated to grow at a higher CAGR during the forecast period
Users of MRO software widely adopt the subscription model due to its advantages of low cost and flexibility of use. The upfront cost of subscription-based software is typically lower than that of the ownership model. In addition, subscriptions generally are renewed monthly or annually, which encourages the software provider to demonstrate the ongoing value of the software and build a relationship with customers.
Based on end-user, MROs segment is anticipated to grow at the highest CAGR during the forecast period
MROs share common functionalities, such as line maintenance, base maintenance, and component maintenance. Digitalization is a significant trend in the aviation MRO industry, due to which the demand for aviation MRO software is expected to grow from the MROs in this market.
Asia-Pacific is estimated to lead the MRO software market in aviation in 2020
According to Boeing Commercial Outlook 2019, there will be more than 17,390 aircraft deliveries by 2038 in the Asia Pacific owing to the rise in passenger traffic. This will lead to a surge in demand for maintenance technicians in the region. According to Boeing Pilot & Technician Outlook, more than 266,000 new maintenance technicians will be required in the Asia Pacific region by 2038. With the rise in demand for maintenance technicians, there will be a rise in demand for MRO software during the forecast period to enhance maintenance operations.
Key players in the MRO software market in aviation are HCL Technologies Limited (India), SAP SE (Germany), International Business Machines Corporation (US), Ramco Systems Limited (India), IFS AB (Sweden), Oracle Corporation (US), Boeing (US), Infor (US), Trax (US), Swiss AviationSoftware (Switzerland), IBS Software (India), Rusada (Switzerland), Communications Software Limited (UK), Flatirons Solutions, Inc. (US), Aviation Intertec Services (Canada), BytzSoft Technologies Pvt. Ltd. (India), Tracware Limited (UK), FLY Online Tools (US), Aerosoft Systems Inc. (US), Lufthansa Technik AG (Germany), GE Aviation (US), and Sopra Steria (France).
- Increase in Demand for Predictive, Prescriptive, and Condition-Based Maintenance Through Data Shared by Connected Aircraft
- Increasing Adoption of Software as a Service
- Demand for Shift from Legacy Management Information System (MIS) to MRO Software in Aviation
- Need to Reduce Turnaround Time (TAT)
- Limited Budget Restrains Adoption of Integrated MRO Software Suite
- Lack of Common Data Standards
- Increasing Adoption of IoT, AI, AR, and Big Data Analytics by MROs
- Compliance with Stringent Aviation Regulations
- A Leading International Airline Achieves 100% Reporting Compliance Through MRO Software
- Air Medical Group Holdings Uses MRO Software for Accurate Real-Time Maintenance Forecasting
- Air Tahiti Deploys One-Stop MRO Software Solution to Gain End-To-End M&E Optimization
- A Leading Airline Was Able to Integrate Its Business in a Faster, Better, and Cheaper Way Through MRO Software
- A Leading Helicopter Operator Was Able to Enhance Its Maintenance Management Through MRO Software
- A Leading Engine MRO Needed On-Premise End-To-End MRO Software Solution
- One of the Largest Aircraft MROs Required an End-To-End MRO Software Solution to Prevent Cost Leakage and Performance Inconsistency
- Aerosoft Systems Inc.
- Aviation Intertec Services
- Bytzsoft Technologies Pvt. Ltd.
- Communications Software Limited
- Flatirons Solutions, Inc.
- Fly Online Tools
- GE Aviation
- HCL Technologies Limited
- IBS Software
- IFS (Industrial & Financial Systems) AB
- International Business Machines Corporation (IBM)
- Lufthansa Technik AG
- Oracle Corporation
- Ramco Systems Limited
- Sap SE
- Sopra Steria
- Swiss Aviationsoftware Ltd.
- Tracware Limited
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