MRO Software Market in Aviation Worth 4.93 Billion USD by 2022
PUNE, India, March 29, 2018 /PRNewswire/ --
According to the new research report "MRO Software Market in aviation by Solution (Enterprise Resource Planning (ERP) Solution, Point Solution), Deployment (Cloud Based, On Premises), End User (Airlines, MROs, OEMs), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the 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. This growth can be attributed to the increasing use of software by small and medium airlines and MROs.
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The ERP solution segment is projected to be the largest solution segment of the aviation maintenance software market
Based on solution, the aviation maintenance software market has been segmented into ERP and point solutions, which have been further segmented into different MRO software modules. The ERP solution segment is divided into maintenance management, operation management, and business management, mainly driven by the increase in the adoption of integrated ERP software solutions by Tier 1 MROs and airlines. Increasing demand for digitalization of MRO services is one of the key factors driving the maintenance management modules of the ERP solution segment, which, in turn, is expected to drive the demand in aviation maintenance software.
The cloud based solution deployment of the MRO software market in aviation is projected to grow at a higher CAGR as compared to the on premises solution during the forecast period
Based on deployment, the MRO software market in aviation has been segmented into on premises and cloud based solutions. The on premises solution is the most adopted by Tier 1 and Tier 2 MROs and airlines in the MRO software market in aviation, as the number of employees using this software in Tier 1 and Tier 2 organizations requiring access to MRO software is high as compared to Tier 3 MROs and small airlines. The increase in demand for onsite MRO software by Tier 3 MROs is one of the key factors projected to drive the growth of the MRO software in aviation market in the cloud based solution deployment segment.
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Asia Pacific is estimated to be the largest market for MRO software in aviation in 2017
Asia Pacific is estimated to account for the largest share of the MRO software market in aviation in 2017. Countries considered for market analysis in this region include Singapore, China, India, and Japan and rest of the countries in the Asia Pacific region. China is projected to be the leading market for MRO software in aviation in the Asia Pacific region during the forecast period. Increasing deliveries of commercial aircraft and maintenance and repair facilities in China are contributing to the high demand for MRO software in aviation in the Asia Pacific region. In addition, the presence of key MROs and airline maintenance facilities in China is another significant factor influencing the growth of the MRO software market in aviation in the Asia Pacific region.
Key companies profiled in the aviation maintenance software market, 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. These companies are focusing on the adoption of various growth strategies to enhance their presence in emerging economies worldwide.
Know more about the MRO Software Market:
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