WASHINGTON, Dec. 13, 2022 (GLOBE NEWSWIRE) — Global Aviation MRO Software Market Valued at US$6.2 Billion in 2021 and Projected to Reach US$8.1 Billion by 2028, at a CAGR of 4.60% During the Forecast Period It has been.
The COVID-19 outbreak has severely disrupted the entire aviation sector. In 2020, the MRO market was severely impacted by declining passenger numbers and subsequent declines in aircraft movements. However, with the lifting of air travel restrictions in 2021 and a gradual increase in air traffic, the demand for aircraft maintenance is projected to increase in the coming years. Aviation Maintenance, Repair and Overhaul (MRO) Software The market stands to benefit from this.
The aviation industry is rapidly adopting MRO software due to constant changes in technological advances. The airline industry shutdowns and lockdowns due to the pandemic have accelerated new developments in this sector. Additionally, significant users of aircraft are choosing to purchase or lease older aircraft as a result of economic constraints. As a result, the need for aircraft retrofitting has increased, opening up great potential for MRO applications in general.
Stakeholders’ reliance on MRO software is reinforced by the fact that the development of artificial intelligence (AI) has paved the way for precise repair work and predictive maintenance. Motivated by the industry’s deep interest and tangible benefits, major airlines and HIS MRO companies invest in cutting-edge HIS MRO software to facilitate their daily operations.
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Market overview
According to Vantage Market Research, some of the factors expected to drive market expansion during the forecast period are growing demand for aircraft based on prescriptive and predictive analysis and increasing popularity of software as a service. The study entitled “Global Aviation MRO Software Market” is a comprehensive market analysis. The study thoroughly examines the most important sub-segments, trends, drivers, constraints, competitive landscape, and other variables of the market.
market dynamics
Expansion of the aviation industry is expected to increase demand for high-tech maintenance, repair and overhaul (MRO)
As demand grows, airlines around the world are working to increase the average size of their fleet. An increase in the number of aircraft will be a key factor driving market expansion over the next decade. Air travel demand and aircraft growth are factors that will contribute to the sustained growth of the MRO industry over the next decade. The International Air Transport Association (IATA) forecasts industry growth of US$118 billion from 2020 to 2027. As a result, the MRO software industry is projected to grow at a similar rate as the sector as a whole.
About 20% of an airline’s operating expenses are spent on aviation MRO software. If current passenger growth trends continue, most of the increase in maintenance costs will be concentrated in engines, which could expand the industry. When you split the costs of running a business, airframe, component and line maintenance can be a significant portion. As airlines become more interested in aircraft maintenance, they can now choose from a variety of original equipment manufacturers (OEMs), independent maintenance, repair and overhaul facilities (MROs), and component suppliers .
Aircraft operators are increasingly turning to aviation MRO software to facilitate paperless operations, reduce TAT on maintenance tasks, and implement predictive maintenance strategies.
Market expansion will be driven by increased maintenance, repair and overhaul (MRO) spending as aircraft fleets grow.
Major aircraft manufacturers such as Airbus and Boeing are working to build next-generation aircraft that are more fuel efficient, have lower emissions and lower operating costs. The increase in air travel hours is directly attributable to the increased demand for air travel. Long flights shorten the useful life of several aircraft components, such as engines, landing gear, brakes and wheels. As a result, airlines and operators value preventative maintenance, frequent service, and up-to-date information on aircraft conditions. Market expansion during the forecast period is expected to be driven by growing demand for aviation MRO software to improve operational efficiency through collection of data generated by aircraft.
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Top Players in the Global Aviation MRO Software Market
- IBS Software (India)
- Flatirons Solutions Inc. (USA)
- Lusada (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. (USA)
- FLY Online Tool (US)
Global Aviation MRO Software Market Segmentation
Resolution
- Enterprise resource planning (ERP) solution
- point solution
Deployment
application
End-user
- Airlines
- MRO company
- OEM
region
- North America
- Europe
- Asia Pacific
- latin america
- Middle East and Africa
Top Trends in Global Aviation MRO Software Market
- Indian LCC Indigo announced in April 2021 that its contract with Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) for overhaul and repair of aircraft components has been extended. With the extension, AFI KLM E&M will support his 350 Airbus A320 family aircraft with his IndiGo fleet. While undergoing an overhaul of an aircraft component.
- Asia Pacific will have over 7900 commercial aircraft in 2021, indicating a large future market for MRO software in the region.
- US-based Pathfinder Aviation said in December 2021 it had decided to implement Ramco System’s aviation software for business purposes. The program includes supply chain management, flight operations, and maintenance components.
- Cloud enterprise application provider IFS has signed an MRO software deal with low-cost airline Viva Air in November 2021. The maintenance planning and execution of the Latin American airline’s aircraft is supported by IFS’s MRO and fleet planning software under the following conditions: Consent form.
top report findings
- Based on end users, most Aviation MRO Software Market Revenue Controlled by MRO category. This is due to increased demand for MRO organization services and aviation maintenance software. He expects the load on MRO facilities to increase over the next decade due to the growing fleet of aircraft, increasing the need for MRO speed. Outsourcing support contracts have also increased significantly in recent years.
- based on Deployment type, the residential segment dominated the aviation MRO software market. The cloud-based category is expected to develop fastest during the forecast period. Software-as-a-Service (SaaS) and cloud-based solutions are delivered as a service, with the ERP provider managing the data and accessing the service using a web browser. The hybrid model, where cloud software is stored on the company’s private servers, has recently gained popularity in the market.
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Recent developments:
- In June 2020, IBS Software entered into a strategic partnership with cargo.one, a proven integration, giving airlines seamless access to cargo.one’s rapidly growing customer base.
- In June 2020, GE Aviation launched Health Application ID for the airline industry. The solution focuses on three key areas: employee management, passenger management, and object management.
Regional analysis:
North America holds the largest revenue share and is projected to maintain it during the forecast period. Developing countries such as India and China are in high demand for maintenance specialists, and the significant increase in new commercial aircraft deliveries has led to increased demand for maintenance professionals and a consequent increase in MRO software. The cause is, in particular, the increase in passenger traffic. In countries such as India, China, Japan and Singapore. The presence of a large number of significant aviation MRO software suppliers in this sector contributes to the expected rapid expansion of the market.
Browse market data 147 pages of tables and figures, plus a detailed table of contents Aviation MRO Software Market forecast report (2022-2028).
Report scope:
| report attribute | detail |
| Market size in 2021 | US$31.5 billion |
| Revenue projections through 2028 | US$42.9 billion |
| CAGR | 5.3% from 2022 to 2028 |
| base year | 2021 |
| Forecast year | 2022-2028 |
| main player | BASF SE, Akzo Nobel NV, Croda International PLC, The Dow Chemical Company, Eastman Chemical Company, Loréal International, Unilever, The Estée Lauder Companies Inc., COTY Inc., Colgate-Palmolive Company |
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