Aviation MRO Software Market to Worth USD 9.76 Billion by 2029 | With a 4.93% CAGR
Fortune Business Insights
Updated 7 min read
Fortune Business Insights
The global aviation MRO software market covered major segments Size, Share & COVID-19 Impact Analysis, By Solution (Software (ERP Solution, Point Solution, Suite), and Services (Deployment & Integration, Consulting, Support, Maintenance & Upgradation)), By Function (Maintenance Management, Operations Management, and Others), Business Management (Accounts & Finance, Sales & Marketing, and Human Resources), and Electronic Flightbag & Logbook Management), By Point of Sale (Subscription and Ownership), By Deployment Type (On-premise and Cloud), By End-use (Airline Operator, MROs, and OEMs) and Regional Forecast, 2022-2029.
Pune, India, June 14, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the aviation MRO software market reached USD 6.73 billion in 2021, and is expected that the market will continue to grow steadily, with a projected value of USD 9.76 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.93% during the forecast period. In 2022, the market is expected to reach USD 6.95 billion.
The aviation MRO (Maintenance, Repair, and Overhaul) software industry refers to the software solutions and tools that are used by companies in the aviation industry to manage and streamline their maintenance, repair, and overhaul operations. These software solutions can include functions such as inventory management, work order management, predictive maintenance, and fleet management, among others. The aviation MRO software market is a growing industry, as airlines and other aviation companies seek to increase efficiency and reduce costs through the use of technology.
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.
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.
Report Coverage:
Our team of experts has employed advanced data extraction techniques to ensure accurate estimates and a thorough analysis of the market dynamics of aviation MRO software. To further enhance the precision of our analysis, we have also accessed a wide range of local and global paid data sources, enabling us to provide up-to-date information on the market. By leveraging this data, we aim to help shareholders and business experts identify the most promising areas for investment and capitalize on the opportunities presented by the aviation MRO software market.
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.
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 Developments –Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Supply Chain Analysis
Quantitative Insights- Impact of COVID-19 Pandemic on Global Aviation MRO Software Market
Impact of COVID-19 on Global Aviation MRO Software Market
Steps Taken by Industry/Companies/Governments to Overcome the Impact
Key Development in the industry in Response to COVID-19 Pandemic
Potential Opportunities Due to COVID-19 Outbreak
Global Aviation MRO Software Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Definitions
Market Analysis, Insights and Forecast – By Solution
Software
Enterprise Resource Planning (ERP) Solution
Point Solution
Suite
Services
Deployment & Integration
Consulting
Support, Maintenance & Up-gradation
Market Analysis, Insights and Forecast – By Function
Maintenance Management
Engine Maintenance
Base Maintenance
Line Maintenance
Fleet Maintenance
Operations Management
Training, Safety & Quality Assurance
Supply Chain Management
Engineering & CAMO
Others
Business Management
Accounts & Finance
Sales & Marketing
Human Resource
Electronic Flight bag & Logbook Management
Market Analysis, Insights and Forecast – By Point of Sale
Subscription
Ownership
Market Analysis, Insights and Forecast – By Deployment Type
On-premise
Cloud
Market Analysis, Insights and Forecast – By End-Use
Airline Operator
MROs
OEMs
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
The Middle East
Rest of the world
TOC Continued...!
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.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
