(MENAFN- GlobeNewsWire - Nasdaq) Pune, india, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global Aviation MRO software market was valued at USD 7.01 billion in 2022 and is anticipated to expand from USD 7.32 billion in 2023 to USD 10.61 billion by 2030, exhibiting a CAGR of 5.45% over the projected period. The surge is due to an increase in technological advancements in the field of military and commercial aviation. This information is provided by Fortune Business InsightsTM in its research report, titled “Aviation MRO Software Market, 2023-2030”.
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List of Key Players Mentioned in the Aviation MRO Software Market Report:
AeroSoft Systems Inc. (Canada) ATP Inc. (U.S.) Aviation Intertec Services Inc. (Canada) 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.) LufthaTechnik AG (Germany) Oracle Corporation (U.S.) RaSystems Limited (India) Rusada Group(Switzerland) SAP SE (Germany) Swiss AviationSoftware Ltd. (Switzerland) The Boeing Company (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.45% |
| 2030 Value Projection | USD 10.61 Billion |
| Market Size in 2023 | USD 7.32 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 327 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | By Solution By Function By Point of Sale By Deployment Type |
| Regions Covered | North America Europe Asia Pacific Latin America Middle East and Africa |
| Aviation MRO Software Market Growth Drivers | Expansion of Air Fleet to Increase the Demand for Advanced MRO to Accentuate Market Growth |
| Increase in Post-Pandemic Travel Activities to Drive Market Growth |
Browse Detailed Summary of Research Report with TOC:
COVID-19 Impact:
Lockdown Restrictions in the Aviation Industry Affected the Market Negatively
The pandemic affected the market for aviation MRO software negatively as there was a huge impact on the aviation industry. Due to lockdown in the aviation industry, the production of the aircraft was slowed down which impacted the deliveries of the deliveries for the same as well. Post-pandemic, the activities resumed which is expected to boost the demand for the software.
Segments:
Software Segment to Record Appreciable Surge Owing to Increasing Product Demand for VariApplications
On the basis of solutions, the market is fragmented into services and software. The software segment is slated to register highest CAGR throughout the estimated period. Software segment is further sub-segmented into point solution, suite, and enterprise resource planning (ERP). The rise is driven by the surging prominence of software-based solutions such as digital logbooks, digital maintenance manuals, and other aircraft health monitoring software.
Maintenance Management Segment to Gain Traction Considering High Demand for Inventory and Fleet Management
Based on function, the market for aviation MRO software is categorized into business, operations, maintenance, electronic flightbag, and logbook management. Of these, the maintenance management segment is expected to depict appreciable expansion over the anticipated period. The surge is impelled by the increasing demand for MRO activities and increasing airline fleets across the world.
Ownership Segment to Register Considerable Growth Driven by High Investment Costs
On the basis of point of sale, the market is subdivided into ownership and subscription. The ownership segment is poised to record commendable growth over the forecast period. The escalation can be credited to the soaring demand for maintenance software by organizations.
Cloud Segment to Have Highest CAGR Impelled by Surging Investment by Industrial Companies
On the basis of deployment type, the market for aviation MRO software is segmented into cloud and on-premise. Of these, the cloud segment is slated to register appreciable CAGR over the estimated period. The rise can be attributed to the increasing upgradation of existing aircraft fleet and component availability.
MRO Segment to Register Notable Surge Impelled by Increasing Investment in Maintenance
On the basis of end use, the market is segmented into OEMs, MROs, and airline operators. The MRO segment is expected to register considerable expansion over the anticipated period. The expansion is driven by the escalating number of cargo and airline fleets that require major maintenance operations.
Considering the regional landscape, the market has been analyzed across North America, Europe, Asia Pacific, the Middle East, and the Rest of the World.
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Report Coverage:
The report gives an analysis of the significant trends propelling the global industry landscape over the forecast period. It also gives an insight into the major factors driving the business scenario throughout the forthcoming years. These data have been furnished after in-depth research and data collation from trusted sources.
Drivers and Restraints:
Surge in Market Value Driven by the Demand for Fleet Expansion
One of the major factors propelling aviation MRO software market growth is the increasing demand for air fleet expansion. This is due to an elevation in the air travel demand in developing nations such as China and India.
However, the industry expansion could be hampered by the increasing research and development cost and rising technological development in software and equipment.
Regional Insights:
North America to Register Notable Surge Impelled by Presence of Market Players
North America aviation MRO software market share is set to depict remarkable expansion over the projected period. The rise is due to the presence of major industry participants such as IBM Corporation, Oracle Corporation, and ATP Inc.
The Europe market is expected to register considerable growth throughout the forecast period. The surge is driven by the presence of major players in the region.
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Detailed Table of Contents:
Introduction Research Scope Market Segmentation Research Methodology Definitions and Assumptions
Executive Summary Market Dynamics Market Drivers Market Restraints Market Opportunities
Key Insights Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships Latest technological Advancements Porters Five Forces Analysis Supply Chain Analysis Impact of COVID-19 Pandemic on Global Aviation MRO Software Market
Global Aviation MRO Software Market Analysis, Insights and Forecast, 2019-2030 Key Findings / Summary Market Analysis, Insights and Forecast – By Solution Software Enterprise Resources Planning (ERP) Solution Point Solution Suite
Service Deployment & Integration Consulting Support Maintenance & Up-gradation
Market Analysis, Insights and Forecast – By Function Maintenance Management Line Maintenance Base Maintenance Engine Maintenance Fleet Management
Operation Management Training Safety & Quality Assurance Supply Chain Management Engineering & CAMO Others
Business Management Accounts & Finance Sales & Marketing Human Resource Electronics Flight Bag & Logbook Management
Market Analysis, Insights and Forecast – By Point of Sale Market Analysis, Insights and Forecast– By Deployment Type Market Analysis, Insights and Forecast– By End-Use Airlines Operator MROs OEMs
Market Analysis, Insights and Forecast – By Region North America Europe Asia-pacific The Middle East Rest of the world
TOC Continued...!
Competitive Landscape:
Key Players Enter Partnership Agreements to Expand Product Reach
Major industry participants are centered on the adoption of a range of initiatives such as merger agreements, acquisitions, and partnerships for the consolidation of their business positions. Some of the additional initiatives include an increase in research activities and the rollout of new solutions.
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Key Industry Development:
March 2022 – Aircraft Accessories and Components Company entered a partnership agreement with Safran Landing Systems, a major provider of landing gear MRO.
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Aviation MRO Software Market
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