Companies covered in the Aviation MRO Software Market are Oracle Corporation (U.S.), The Boeing Company (U.S.), Swiss Aviation Software (Switzerland), IBS Software (India), Rusada (Switzerland), HCL Technologies Limited (India), SAP SE (Germany), International Business Machines Corporation (U.S.) , Ramco Systems Limited (India), IFS AB (Sweden), Communications Software Limited (U.K.), Aviation Intertec Services (Canada), Aerosoft Systems Inc. (U.S.), Jet Support Services, Inc. (U.S.), Lufthansa Technik (Germany) , GE Aviation (U.S.) and more players profiled.
According to Fortune Business Insights™, the global aviation MRO software market size is slated to hit USD 9.16 billion by 2028 growing at a CAGR of 4.5% between 2021 and 2028. In its report “Aviation MRO Software Market, 2021-2028”, mentions that the market stood at USD 6.52 billion in 2020 and USD 6.73 billion in 2021.
In recent years the MRO industry is significantly evolving in terms of technology and automation in aircraft maintenance. It offers solutions such as troubleshooting, repairs & modifications, and other necessary checks as prescribed by the manufacturer of the aircraft. Additionally, the adoption of big data, artificial intelligence, robotics, and other digitized technologies while performing maintenance has resulted in increased efficiency and decreased downtime. Therefore, many manufacturers are working on this technology. For instance, in June 2021 Ramco Systems announced it will provide its Aviation M&E MRO Software V5.8 to Bristow Group for maintaining engineering operations. This partnership would allow Bristow to access maintenance management, smart inventory, and other services.
The outbreak of the COVID-19 pandemic had a positive impact on the market due to the dramatic digitalization of businesses amid the pandemic. Thus many prominent market players are investing in R&D to accelerate the growth of aviation software. For instance, in June 2021, AerinX partnered with Sharjah-based VD Gulf to implement its (MR) mixed reality-based aircraft maintenance software solution for the base maintenance facility at Sharjah International Airport. This software will provide maintenance engineers to identify damages precisely & accurately and reduce maintenance downtime and costs of maintenance. We are providing in-depth research reports to help you better understand the current scenario of this market amid the pandemic.
Significant Adoption of Software Based MRO Solution to Boost Market
By solution, it is bifurcated into software and service. By function, it is trifurcated into maintenance management, operation management, and business management. On the basis of point of scale, it is divided into subscription and ownership. By deployment type, it is divided into on-premise and cloud. Based on end-user, it is divided into airlines operator, ORMs, and OEMs.The airlines operator segment held the market share of 14.50% in 2020. This is attributable to booming aviation industry. Geographically, the market is classified into North America, Europe, Asia Pacific, Middle East, and the Rest of the World.