Global Aircraft MRO Software Market â€“ Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025
Aircraft MRO software suit include software components for maintenance scheduling, maintenance tracking, budget forecasting, log book tracking, flight time tracking, manuals, work order management, service bulletins management, and electronic task card management. It also includes features aiding compliance with regulatory agencies like ICAO and FAA.
One of the key objectives of MRO software is to reduce downtime and to streamline maintenance processes. Most of the MRO software providers provide services like consultation, data migration services, training, and customization based on the requirements. All these services are extremely helpful for low cost carriers. Since low cost carriers run on a constrained budget it is not viable to employ a huge work force for maintenance activities.
Global aircraft MRO software market is witnessing several modifications based on the changes in global dynamics. Most of the changes are associated with the growing focus on big data and analytics in the aviation industry. Aviation industry generates a huge amount of data which if tapped correctly could help MRO companies to improve their operational efficiency.
Focus in improving operational efficiency in the MRO industry is increasing the demand for MRO software which could provide customized solutions catering to the demands of the airlines. There is heavy competition among MRO vendors and many new players are coming up in the market seeing the potential of the market during the forecast period.
Global aircraft MRO market ecosystems include three major levels â€“ OEMs, MROs, and Suppliers. OEMs are the ones who manufacture aircrafts and aircraft components. Some of the major OEMs include Boeing, Rolls-Royce, Pratt & Whitney, GE, and Airbus. MROs take care of the aircrafts once it comes out of the manufacturing unit and gets operational. Maintenance activities usually include line maintenance, base maintenance, and component maintenance. Line maintenance is done to provide minor but necessary maintenance tasks in between flight. Base maintenance is a much more complicated and time-consuming task which includes heavy checking including structural checking. This is done by large MRO centers with hangars.
Based on end-user, aircraft MRO software market is segmented into Third party and Independent MRO, In-house airline MRO, and OEM-affiliated MRO. The revenue generated from In-House airline MRO was higher in 2018 and is mainly driven due to increasing focus of airlines in revamping their IT infrastructure for better analysis on MRO activities.
Based on deployment, the market is segmented into on-premise and cloud-based. On-premise, generated major revenue since many MRO centers still uses legacy solutions due to concerns regarding security.
Based on the geography, the market is split into North America, Europe, APAC, and ROW. ROW includes Middle East, South America, and Africa. APAC is one of the fastest growing aviation MRO markets in the world in terms of shop visit volume and revenues and the growth is mainly driven by China. North American MRO software market is a mature market with most of the MRO activities expected to be focused in retrofitting, especially in the US. Retrofitting is mainly due to growing need to incorporate premium economy.
Global aircraft MRO software market is predominantly occupied by small focused players rather than major aviation companies and software vendors. While big software and IT companies have a presence in the MRO software market, they are not always the chosen one by MRO centers. The global vendors are expected to grow further by entering into alliances and strategic partnerships with other players in the market during the forecast period. Some of the major vendors in the market are Ramco Systems, Rusada, Traxxall Technologies, Swiss Aviation Software, AV-BASE Systems, Bytzsoft, ENGRAV Group, Flightdocs, and C.A.L.M Systems.
According to Infoholic Research, the global aircraft MRO software system will grow at a CAGR of 5.55% during the forecast period 2019â€“2025. The aim of this report is to define, analyze, and forecast the aircraft MRO software market on the basis of segments, which include end-user, deployment, and region. In addition, the aircraft MRO software market report helps venture capitalists in understanding the companies better and make well-informed decisions and is primarily designed to provide the companyâ€™s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation of an effective marketing plan.
Global aircraft MRO software market is categorized based on three segments â€“ End-user, deployment, and regions as shown below:
o End-user include Third party and Independent MRO, In-house airline MRO, and OEM-affiliated MRO
o Deployment include cloud-based and on-premise
o Regions include North America, Europe, APAC and RoW (RoW includes Middle East, South America and Africa)
â€¢ The report comprises an analysis of vendor profile, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.
â€¢ The report covers the competitive landscape, which includes M&A, joint ventures & collaborations, and competitor comparison analysis.
â€¢ In the vendor profile section, for companies that are privately held, the financial information and revenue of
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