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.
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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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