The MRO Software Market in Aviation report provides an analysis of the market from 2018 to 2025. It discusses industry and technology trends prevailing in the market, along with the drivers, restraints, opportunities, and challenges. The market is projected to grow from USD 6.9 billion in 2020 to USD 8.0 billion by 2025, at a CAGR of 2.9% during the forecast period. The market in Asia Pacific is expected to witness substantial growth during the forecast period, especially in countries such as China, India, and Japan, due to the increasing demand for new maintenance technicians in the region. Additionally, the need for reducing the turnaround time of maintenance operations is also a significant factor attributed to the anticipated growth of the MRO software market in aviation during the forecast period.
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Based on function, the maintenance management segment is anticipated to grow at the highest CAGR during the forecast period. Maintenance management software enable the monitoring of aircraft components and provide real-time data for performance monitoring. The data includes details such as total usable life, performance, and predicted replacement of components, which help in monitoring aircraft health and planning future activities, such as scheduled maintenance.
Based on end user, the MROs segment is anticipated to grow at the highest CAGR during the forecast period. The MRO industry uses aviation MRO software mainly to enhance the functional efficiency for various aviation MRO activities, such as services, maintenance, upgrade, and retrofitting of different aircraft engines, spares, components, and systems. Replacement of old MRO software systems with advanced digitalized software solutions and IT infrastructure modernization programs are expected to drive the MROs segment.
Based on deployment type, the cloud segment is expected to witness a higher growth rate during the forecast period. The initial costs for cloud MRO solutions are comparatively lower than that of on-premises solutions, as cloud solutions do not require substantial investments in hardware, servers, and other facilities, and can be accessed over an Internet connection using a computer or similar device. The responsibility of hosting, maintaining, and securing the software lies with the ERP solution provider. The payment model for cloud-based MRO software solutions is mostly pay-as-you-go subscription, thus making these solutions more cost-efficient than on-premises solutions.
Based on region, the MRO software market in aviation is segmented into four regions, namely, North America, Europe, Asia Pacific, and Rest of the World. The market in Asia Pacific is anticipated to grow at the highest CAGR during the forecast period due to the presence of major software providers such as HCL Technologies Limited and RAMCO Systems Limited. The market growth in this region is also attributed to the rise in demand for new maintenance technicians in the region. The increase in the number of aircraft MROs in countries such as China and Japan offers an opportunity for the market. Aviation MRO software vendors can offer software solutions with a maintenance module to these MROs to tap into this growing region.
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