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Increasing demand for reduction in turnaround time of maintenance operations globally is driving market growth
The MRO software market in aviation is projected to grow from USD 6.9 billion in 2020 to USD 8.0 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 forecast period
Based on pricing model, the subscription model segment is anticipated to grow at the highest 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 relationship with customers.
Based on end user, MROs segment is anticipated to grow at highest CAGR during forecast period
Based on end user, the 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 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 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.
The break-up of profiles of primary participants in the MRO software market in aviation: By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20% By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
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).
The report covers the MRO software market in aviation across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as solution, function, deployment type, pricing model, end user, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report
- This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall MRO software market in aviation and its subsegments.
- The report covers the entire ecosystem of the MRO software in the aviation industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities