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The global aviation MRO software market size was USD 6.52 billion in 2020. The market is projected to grow from USD 6.73 billion in 2021 to USD 9.16 billion in 2028 at a CAGR of 4.5% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with aviation MRO software witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global clear aligners market will exhibit a small decline of -5.9% in 2020. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
From past few years the MRO industry has evolved significantly in terms of technology and automation in management of aircraft. Aircraft maintenance has various stages including inspection, troubleshooting, repairs & modifications, and other necessary checks as prescribed by the manufacturer of aircraft. The adoption of big data, artificial intelligence, robotics and other digitized technologies while performing maintenance has resulted in increased the efficiency and decrease down time. Additionally, the use of aviation MRO software tracks the airworthiness of aircraft and its parts for the long term. It is a comprehensive solution that provides aircraft component’s maintenance scheduling, logbook tracking, work order management, service bulletins management, and electronic task card management. The aviation industry works on data-driven technology, which consists of a large amount of data. The most important objective of aviation MRO software is to streamline the numerous processes, including training, safety, quality assurance, supply chain management, engineering, and CAMO.
In this market research report, we have considered software as an important segment and have listed insights and growth of the market during the forecast period. The increasing demand for predictive, perspective and condition based maintenance is likely to fuel the aviation MRO software sales in the aviation industry. Moreover, the aircraft, engine manufacturers, MRO service providers, and airline companies are looking forward to investing in these kinds of upgraded technologies to smoothen their maintenance and manufacturing operations. Thus, the key players of MRO software market are involved in developing innovations and are adopting new strategies to strengthen their market share. Therefore, the demand for digital platform-based software is expected to increase during the forecast period. For instance,
COVID-19 Pandemic Accelerated Digitalization in the Aircraft Maintenance (MRO) Industry
The aviation industry in 2020 was severely impacted by the COVID-19 pandemic but is slowly climbing its way out of the crisis’s deepest depths. As the economic crisis caused by COVID-19 has boosted digitalization in several sectors, including the aircraft maintenance industry leading to increased demand of aviation software. The MROs are investing in information technology development projects and efficiency-enhancing software solutions amid pandemic. The key players in software market are witnessing new investment for R&D, which will eventually accelerate the growth of aviation software market during the forecast period. For instance,
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Adoption of Best-In-Class Predictive Analytics Software to Favor Growth
Predictive maintenance (PdM) is a maintenance approach using sensors and software to monitor real-time data on asset condition, preventing failures before they occur. The integrated capabilities of predictive analytical software directly monitor the condition and performance of equipment during normal operation. Additionally, it digitally transforms airline operations by building a bridge of information between operators’ maintenance control centers (MCC) & engineering teams.
Procurement of Modern Aircraft in Large Numbers to Favor Market Growth
The increased air passenger traffic and the concept of low-cost airlines are major factors responsible for increased aircraft deliveries all over the world. In the modern era, the global aircraft fleet includes Boeing 787 and Airbus320-Neo holds a major fleet share in the market. This modern aircraft fleet generates a significant amount of data compared to older aircraft. Therefore, aircraft health monitoring will reduce the operational cost of airlines to a minimum. A large amount of data usage is anticipated to enhance the efficiency of the maintenance process in the coming years, This, in turn, will boost the aviation MRO software market growth in the aviation sector during the forecast period.
Increasing Demand for Predictive Maintenance to Boost Market Growth
Predictive maintenance allows the MRO companies to lower the maintenance costs, extend component life, reduce downtime and improve maintenance quality by addressing problems before they cause component failures. The software used for predictive maintenance generally covers three factors in an organization including real-time monitoring of asset condition & performance, analysis of work order data, and it Benchmarks MRO inventory usage. High investments in MRO industry has led to major involvement of software used for predictive maintenance as these possess high reliability thereby driving the demand for predictive maintenance software and solutions during the forecast period.
Lack of Data Standards and Limited Adoption of MRO Software to Hinder Market Growth
The increasing the adoption of software-based services in the aviation industry has boosted the demand for MRO software in the various countries. Aviation MRO software provides predictive analysis and condition-based support to the end-users. The MRO software also contains a large amount of database and management software, which is essential for the End users. The comprehensive solution and integration require complex programming to develop, which further makes the software very expensive. The major concern for the MRO software in the aviation market is the lack of common data standards, which varies vary from country to country and based on their regional aviation authorities. These key factors are anticipated to restrain the market growth for in the future years.
Significant Adoption of Software Based MRO Solution to Boost Market Expansion
Based on the solution, the market is classified into software and services.
The software segment is further sub-segmented into an enterprise resource planning (ERP) solution, point solution, and a suite.
The suite segment is projected to grow at the highest CAGR during the forecast period. As most of the MRO companies prefer the multi-function, management, and tracking systems in the software in several countries which has led to increased demand for aviation MRO software in the coming years.
Furthermore, the service segment is bifurcated into deployment & integration, consulting, support maintenance & up-gradation.
The major changes in standards, components certification, and other key updates are needed to be employed in maintenance services. This, in turn, is expected to boost market growth in the next few years. The support maintenance & up-gradation segment is projected to grow at a rapid pace in the forthcoming years.
Maintenance management Function is likely to Gain Maximum Revenue Share
By function, the market is segmented by maintenance management, operation management, electronic flight bag & logbook management, and business management.
The maintenance management segment held a major aviation MRO software market share and is expected be at a leading position during the forecast period. Airliners and MRO companies need to keep essential data secured for future use as well as it helps to reduce turnaround time during emergency. Therefore, most companies are adopting the precise storage in digital form.
The electronic flight bag & logbook management segment is expected to be the fastest-growing segment of the market during the forecast period. This growth is attributed to the increasing demand for commercial flight bag tracking for air travelers to reduce the risk of misplacement or losses. This factor is likely to boost demand for the product in near future.
Subscription Segment is Expected to Dominate the Market
By point of sale, the market is segmented into subscription and ownership.
The subscription segment is anticipated to be the fastest-growing segment in the next few years. The key players in the league prefers subscription of software services due to low-cost benefits as they subscribe for an annual, monthly, and quarterly basis.
The major MRO companies primarily prefer ownership options owing to high investment costs and strong financial supports in the industry. These key aspects will eventually boost the growth rate of the market during the forecast period.
The Growing Use of Cloud-Based Deployment to Fuel MRO Software Market Size
Based on deployment type, the market is divided into on-premise and cloud. The cloud segment of the market is expected to grow at a significant rate during the forecast period owing to increased demand for MRO services and solutions in developing economies such as China, Indonesia, and India.
The on-premise segment is expected to dominate the largest share of the market due to the increased up-gradation of the existing aircraft fleet and component availability in the storage.
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Growing Commercial Aircraft Flights Is Supporting the Growth of End-use segment
Based on the end-use, the market is segmented into airline operators, OEMs, and MROs.
The airline operators segment is expected to grow at significant rate due to the rising demand for commercial MRO software services in Asia Pacific and European countries. The OEM segment is expected to grow at a significant growth rate during the forecast period owing to increased demand for maintenance management in several countries. Digitalization of the aviation MRO sector is behind the growth of the OEM segment.
The MRO segment is expected to dominate the largest share of the market due to the increased up-gradation, and regular maintenance of the existing aircraft fleet of passenger safety.
North America Aviation MRO Software Market Size, 2020 (USD billion)
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Global aviation MRO software market is studied across North America, Europe, Asia-Pacific, and the Rest of the World
North America market is estimated as USD 1.83 billion in 2020, owing to the presence of key player such as Oracle Corporation, the Boeing Company and GE aviation. Moreover, the growth of the market in the region is attributed to the rising usage of software for maintenance practices and other necessary operations. The U.S. held a maximum number of MROs in the region compared to the other countries. In addition, the region has more MRO Software manufacturers that facilitate excellent growth during the forecast period.
The market in Europe is expected to grow moderately owing to the presence of prominent key players and OEMs such as Lufthansa Technik, Swiss Aviation Software AG, and Communications Software Limited. These companies are one of the top companies profiled in the region and hold some potential customers worldwide.
The market in Asia Pacific is anticipated expected to experience strong growth owing to the significant rise in new commercial aircraft deliveries in countries such as Japan and China and India. Moreover, due to rapid growth in the commercial aviation sector in India, prominent players, such as HCL Technologies Limited and IBS Software, are emerging as the fastest-growing market for aviation MRO Software over the same period in this country. Digitalization in these countries is enhancing the technical perspective in the aviation industry for effective and efficient base management, operation management, and line management. The region is expected to witness long-term growth in aircraft MRO Software market due to large potential backed by the largest populated region around the globe.
The Middle East is expected to witness substantial growth in the market owing to the increasing fleet size in the commercial sector. The Middle East consists of potential customers like Air Arabia, Fly Dubai, and many more emerging airlines looking forward to invest in modern software solutions to expand their existing capabilities and capacity in MRO industry.
Adoption of Continuous Innovation and Acquisition & Collaborations Strategies, To Sustain in the Market
The competition landscape market depicts the domination of selected players such as International Business Machines Corporation, Ramco Systems Limited, IFS AB, Oracle Corporation and GE aviation are among others. A diversified product portfolio of ERP, inventory management, supply chain management, human resources, inventory, maintenance, and other solutions. The companies are investing to collaborate in collaborating with key software companies for the development of MRO solutions. Strong R&D and strategic acquisition are prominent factors responsible for the strengthening position of these companies. These companies are adopting organic and inorganic growth strategies such as mergers and acquisitions, a new product launched, entering into a long-term contract with airlines, MRO service providers, and building long-term relationships with OEMs.
An Infographic Representation of Aviation MRO Software Market
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The report offers qualitative and quantitative insights on the aviation MRO software systems and detailed analysis of market size & growth rate for the segments in the market.
Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption of advanced technology, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key Aviation MRO industry trends.
Value (USD Billion)
By Point of Sale
By Deployment Type
Fortune Business Insights says that the market was valued at USD 6.52 billion in 2020 and is projected to reach USD 9.16 billion by 2028.
The market is projected to grow at a CAGR of 4.5% during the forecast period (2021-2028).
The suite software services segment is leading segment in the market.
The increasing procurement of modern aircraft is to drive the markets growth.
Ramco Software is the leading player in the global market.
North America dominated the market share in 2020.
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