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  • MRO Software Market in Aviation projected to reach $4.93 Billion by 2022

     



    (I-SoftwareNews.Com, August 18, 2018 ) The MRO software market in aviation is estimated at USD 4.08 billion in 2017 and is projected to reach USD 4.93 billion by 2022, at a CAGR of 3.85% from 2017 to 2022. A significant increase in the digitalization of MRO activities and the high demand in aviation maintenance software services from MROs are projected to drive the growth of the MRO software market in aviation. Increase in demand for upgradation of the legacy Management Information System (MIS) to digital aviation maintenance software is another factor influencing the growth of the MRO software market in aviation.



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    The MRO software market in aviation is led by a few key players that have wide regional presence and robust brand images. Leading players in the MRO software market in aviation include AerData (A Boeing subsidiary) (US), HCL Technologies (India), IBM Corporation (US), IFS (Sweden), Oracle Corporation (US), Ramco Systems (India), Rusada (Switzerland), SAP (Germany), Swiss AviationSoftware (Switzerland), and Trax (US), among others.



    Based on solution, the aviation maintenance software market has been segmented into Enterprise Resource Planning (ERP) and Point solution. The ERP segment is expected to lead the MRO software market in aviation as compared to the point solution during the forecast period. Demand for integrated ERP solutions by MROs and airlines is driving the growth of this segment. The ERP segment is further segmented into maintenance management, operations management, and business management. Increase in demand for base and line maintenance of MRO software in the maintenance management ERP solution market is one of the key factors projected to drive the growth of the MRO software market in aviation.



    Based on end user, the MRO software market in aviation has been segmented into Original Equipment Manufacturers (OEM), Maintenance, Repair, and Overhaul (MRO) companies and airlines. The MRO segment is projected to grow at a higher CAGR as compared to the airlines and OEM segment from 2017 to 2022. MROs as entities are considered as undertaking a critical business function, which must fulfill all the regulatory requirements, and reduce the timeline of aircraft maintenance, at the minimum cost, which is leading to the demand for more software solutions to enable smoothening operational efficacy. This, in turn, is projected to drive the demand for the MRO segment in the MRO software market in aviation.



    Based on deployment, the aviation maintenance software market has been segmented into cloud based and on premises software solutions. The cloud based segment is projected to grow at a higher CAGR as compared to the on premises segment. The initial costs of the cloud based MRO solution are comparatively lower than those for the on premises solution, as cloud based solutions do not require heavy investments in hardware, servers, and other facilities and can be accessed through a computer internet connection. The responsibility of hosting, maintaining, and securing the software lies with the ERP solution provider. Also, the payment model for this solution is mostly pay-as-you-go subscription, thus enabling finance management, making it simpler than the on premises solution, which, in turn, is expected to drive the demand in aviation maintenance software for the cloud based segment.



    The MRO software market in aviation in the Asia Pacific region is projected to grow at the highest CAGR from 2017 to 2022. This growth can be attributed to the increase in aircraft production and deliveries in the Asia Pacific region. Also, increase in MRO services is expected to drive the demand for more software in the region, wherein China, India, and Japan are key markets. The MRO software market in aviation in China is projected to witness significant growth, owing to the presence of key aircraft manufacturers, such as COMAC, and high demand for repair and maintenance services in the country.



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