DUBLIN–(BUSINESS WIRE)–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).
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Use Cases
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/rbga1.
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