MRO Software Market by Solution & Deployment with CAGR of 3.72% between 2019 and 2025
iCrowdNewswire Jan 8, 2021 2:42 PM ET
Global Aviation MRO Software Market.
The Global Aviation MRO Software Market is projected to be valued at USD 5,710 Million by 2025, expanding at a CAGR of 3.72% between 2019 and 2025.
Growth in the air passenger traffic has significantly contributed to the growth of the aviation MRO software market. High competition owing to the presence of a large number of players in this market is forcing manufacturers to continuously focus on product innovation and development. Furthermore, airline operators are also launching MRO solutions to streamline operations and offer enhanced services to customers. For example, In March 2019, Malaysia Airlines launched AMOS, an MRO software solution designed for the airline’s engineering department.
- IoT-enabled Devices giving opportunity to Aviation MRO Software Market
- Increasing focus on the Asia-Pacific region
Growth Opportunities in the Market
- Point Solution segment expected to witness higher growth in the market: The point solution segment is expected to grow at a higher CAGR during the forecast period from 2019 to 2025. The segment is divided into health monitoring, electronic flight bag & logbook, inventory management, documentation, and others. The growing demand for aircraft health monitoring and inventory management to reduce Aircraft on Ground (AOG) time is expected to drive the growth of the segment
- Cloud-based aviation MRO software to remain a popular choice: Cloud-based aviation MRO software is the most preferred choice by airline operators and OEMs owing to enhanced flexibility offered by the solution. Furthermore, cloud-based deployment enables customers to customize the solution based on the needs and also reduces cost as the solution is based on the pay-as-you-go model. Hence, the segment is expected to witness higher growth during the forecast period.
- Commercial segment expected to remain the dominating segment: The commercial segment dominates the market in 2018 and is expected to witness higher growth during the review period. Increasing the number of commercial aircraft being manufactured to cater to the rising air passenger traffic is driving the segment growth.
- MRO companies segment expected to grow at the highest CAGR: The segment is expected to grow at the highest CAGR during the forecast period from 2019 to 2025. Presence of established software companies such as Honeywell International, Inc. and IBM are expected to drive the growth of the segment. Furthermore, growing collaboration between aviation MRO software providers such as Ramco Systems and defense organizations is also driving the growth of the segment. For example, in 2018, Ramco Systems signed a contract with a defense contractor to provide Ramco Aviation Suite v5.8.
- Boeing (US)
- IBM (US)
- HCL Technologies (India)
- SAP SE (Germany)
- Ramco Systems (India)
- Oracle (US)
- IFS (Industrial and Financial Systems) (Sweden)
- TRAX (Singapore)
- Infor (US)
- Swiss AviationSoftware Ltd. (Switzerland)
Other Prominent Players
- Honeywell International, Inc. (US)
- IBS Software (US)
- Valsoft (Canada)
- Flatirons Solutions, Inc. (US)
- Sopra Steria (US)
- Seabury Solutions (Ireland)
- AerData B.V. (The Netherlands)
- Rusada (US)
- Collins Aerospace (US)
- SOFTWARE (France)
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/aviation-mro-software-market-8421
WantStats Research and Media Pvt. Ltd.
Office No. 528, Amanora Chambers
Pune - 411028
Sales: +1 628 258 0071(US) +44 2035 002 764(UK)
Mail : email@example.com
Keywords: MRO Software Market size, MRO Software Market Trend, , MRO Software Market Growth, , MRO Software Market Analysis,