MRO Software Market

Mro Software Market was estimated at USD 7.5 billion in 2021and is expected to reach USD 10.69 billion by 2026, with a CAGR of 6.8% from 2021to 2026

The increased demand to reduce response times and rising adoption of software as a service are the main factors expected to drive the market in the coming years.

Market Growth:

The MRO industry uses aeronautical MRO software primarily to improve the functional efficiency of various activities, such as servicing, maintenance, upgrade and modernization of various aircraft engines, spare parts, components and systems. The industry is further classified according to the size of the employees, considering the adoption of the decided aeronautical MRO software. The replacement of legacy MRO software systems with advanced digital software solutions and IT infrastructure modernization programs is expected to boost the target market

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Recent Developments and Trends:

In June 2020, IBS Software signed an agreement for collaborating with cargo one with proven integration, providing seamless access to airline cargo and an emerging user base.

In June 2020, GE Aviation launched Health Application identification card for the aviation industry. The solution focuses on three important areas: employee screening, passenger screening, and object screening.

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MRO Software Market Segmentation:

Based on function, the global market is segmented into maintenance management, operations management, commercial management, electronic management of flight bags and flight logbooks. The maintenance management segment is expected to have the largest market share during the outlook period. In addition, it is segmented into basic maintenance, engine maintenance, fleet management and line maintenance. Demand from operators and MROs for efficient management of heavy maintenance controls is likely to increase demand for the basic maintenance MRO software module in the coming years.

Based on the solution, the market has segments of software and services. The software section is supposed to grow at a high CAGR during the outlook period. The growing need to upgrade legacy Management Information systems to digital MRO software in aviation is driving the market growth.

Based on the pricing model, the global MRO Software market has segments such as the subscription model and ownership model. The subscription model segment is estimated to grow at a high CAGR as it is extensively used by MRO software users due to its low-cost advantages and flexibility of use. Additionally, subscriptions are typically renewed on a monthly or annual basis, which encourages the software vendor to demonstrate the ongoing value of the software and build relationships with customers.

Based on end-user, the global MRO software market is segmented into operators, OEMs, MROs, and lessors. The MRO segment is foreseen to register the highest CAGR because of the rising call for digitization in the aviation sector. The industry uses an aeronautical MRO software tool to improve functional efficiencies in various aeronautical MRO activities, such as service, maintenance, upgrade, and modernization of various aircraft engines, spare parts, and system components.

MRO Software Regional Analysis:

Based on regional analysis, the global MRO software market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East, and Africa. The North American region is expected to have the largest share during the outlook period due to a large fleet of aircraft in the United States and the growing need for analytics to improve service industries are some of the factors that drive the progress of the market. Furthermore, an increase in government funding for research and development activities is also driving the market growth. The increasing progress and development of sophisticated drone software in China is driving the substantial market growth. The growth of the aircraft fleet and the presence of major aircraft maintenance and repair facilities in countries such as China and Singapore that adopt MRO software are driving market growth.

Key Players:

The key market players in the global MRO Software market are HCL Technologies Limited (India), SAP SE (Germany), International Business Machines Corporation (US), Ramco Systems Limited (India), IFS AB (Sweden), Oracle Corporation (US), Boeing (US), Infor (US), Trax (US), Swiss Aviation Software (Switzerland), IBS Software (India), Rusada (Switzerland), Communications Software Limited (UK), Flatirons Solutions, Inc. (US), Aviation Intertec Services (Canada), BytzSoft Technologies Pvt. Ltd. (India), Tracware Limited (UK), FLY Online Tools (US), Aerosoft Systems Inc. (US), Lufthansa Technik AG (Germany), GE Aviation (US), and Sopra Steria (France).

Impact of Covid-19 on MRO software market:

Businesses are facing short-term operational issues due to supply chain limitations and lack of site access due to the coronavirus outbreak. The MRO software market is a utility-owned segment, driven by financial incentives and regulatory support from governments around the world; therefore, it is mainly affected by the COVID-19 pandemic. Asia-Pacific is expected to be severely affected by the spread of coronavirus due to the fact that China is the epic centre of this deadly disease. The closure of business operations has disrupted the demand side of the aviation and manufacturing segment market dynamics, which delays ongoing projects.