DUBLIN--(BUSINESS WIRE)--The "Global Aircraft MRO Software Market - Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
Global Aircraft MRO Software Market is Expected to Witness a CAGR of 5.55% to Reach $1,130.8 Million by 2025
Aircraft MRO software suit includes 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 workforce 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.
The 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 - OEMs, MROs, and Suppliers. OEMs are the ones who manufacture aircraft and aircraft components. Some of the major OEMs include Boeing, Rolls-Royce, Pratt & Whitney, GE, and Airbus. MROs take care of the aircraft 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 centres 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 the increasing focus of airlines in revamping their IT infrastructure for a better analysis of MRO activities.
Based on deployment, the market is segmented into on-premise and cloud-based. On-premise generated major revenue since many MRO centres still use legacy solutions due to concerns regarding security.
Based on geography, the market is split into North America, Europe, APAC, and ROW. ROW includes the 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 the 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 centres. 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.
The global aircraft MRO software system will grow at a CAGR of 5.55% during the forecast period 2019-2025. 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 company'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 - End-user, deployment, and regions as shown below:
- End-user include Third party and Independent MRO, In-house airline MRO, and OEM-affiliated MRO
- Deployment includes cloud-based and on-premise
- Regions include North America, Europe, APAC and RoW (RoW includes Middle East, South America and Africa)
- The report comprises an analysis of vendor profile, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.
- The report covers the competitive landscape, which includes M&A, joint ventures & collaborations, and competitor comparison analysis.
- In the vendor profile section, for companies that are privately held, the financial information and revenue of segments will be limited.
Key Topics Covered:
1 Executive Summary
2 Industry Outlook
2.1 Industry Snapshot
2.1.1 Industry Trends
3 Market Snapshot
3.1 Total addressable market
3.2 Segment Addressable Market
3.2.1 PEST Analysis
3.2.2 Porter's Five Force Analysis
3.3 Related Markets
4 Market Characteristics
4.1 Market Ecosystem
4.2 Market Segmentation
4.3 Market Dynamics
22.214.171.124 Predictive maintenance and related software modifications
126.96.36.199 Growing demand for retrofit activities and MRO centres
188.8.131.52 Lack of skilled labour with expertise in data analytics
184.108.40.206 Cybersecurity threats
220.127.116.11 Use of composite materials
18.104.22.168 Use of blockchain technology in MRO software
22.214.171.124 Adoption of new-gen manufacturing techniques
126.96.36.199 Digitization in Aviation
4.3.4 DRO - Impact Analysis
5 Global Aircraft MRO Software Market, By End-User
5.2 Third party and Independent MRO
5.3 In-house airline MRO
5.4 OEM-affiliated MRO
6 Global MRO Software Market, By Deployment
7 Global Aircraft MRO Market, By Region
7.3 North America
8 Competitive Landscape
8.1 Competitor Analysis
8.3 Market Developments
8.3.1 Mergers & Acquisitions (M&A)
8.3.3 Business Restructuring
9 Vendor Profiles
- AV-BASE Systems
- C.A.L.M. Systems
- ENGRAV Group
- Ramco Systems
- Swiss Aviation Software
- Traxxall Technologies
For more information about this report visit https://www.researchandmarkets.com/r/2twagp