Aviation MRO Software Market Analysis, Company Profiles, Competitive Landscape by 2029
The global aviation MRO software market size was USD 6.73 billion in 2021. The market is projected to grow from USD 6.95 billion in 2022 to USD 9.76 billion by 2029 at an estimated CAGR of 4.93% in 2022-2029.
This information is provided by Fortune Business Insights, in its report, titled, “Aviation MRO Software Market, 2022-2029.”
According to our analysts, owing to technological progressions in commercial and military aviation, the aviation industry has turned to be more data-driven and related to ground-based MRO systems.
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.
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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.)
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.
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Report Coverage:
Our specialists have used a data extraction technique that further aids us to provide dependable approximations and examine the market dynamics of aviation MRO software perfectly. Additionally, our experts have gained access to various local and global paid data for presenting the updated information so that the shareholders and business experts capitalize only in the prominent areas.
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.
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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.
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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