Share on

Global MRO Software Market Size, Share, Trends, Covid-19 Impact & Growth Forecast Report - Segmented By Function (Maintenance Management, Operations Management, Commercial Management, Electronic Management Of Flight Bags And Flight Logbooks), Solution (Software And Services), Pricing Model (Subscription Model And Ownership Model), End-User (Operators, OEMS, MROS And Lessors), And Region (North America, Europe, APAC, Latin America, Middle East And Africa) – Industry Analysis From 2023 To 2028

Published: March, 2023
ID: 10555
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global MRO Software Market Size (2023 to 2028)

The global MRO software market size is expected to be worth USD 8.55 billion in 2023. It is expected to grow at a CAGR of 6.8% during the forecast period and reach a value of USD 11.88 billion by 2028. 

MARKET DRIVERS:

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

The subscriber model is widely adopted by users of MRO software due to its advantages, such as low cost and flexibility of use. The initial cost of subscription-based software is usually lower than the proprietary model. Additionally, subscriptions are generally renewed monthly or annually, where the software provider is encouraged to demonstrate the continued value of the software in building a relationship with customers. Therefore, the subscription model should be one of the main drivers of MRO software. The global aviation industry is experiencing significant growth in the number of aircraft in the current market scenario. Commercial airlines and military forces buy aircraft in bulk, where substantial market space has been created for MRO activities. The increase in MRO business in recent times is a big boost in the global MRO software market, which allowed end-users to easily troubleshoot and troubleshoot.

Furthermore, the request for aircraft maintenance based on prescriptive and predictive analytics is increasing exponentially among end-users, where it is catalyzing the growth of the global MRO software market. The adoption of software as a service between airlines, aircraft original equipment manufacturers, and MRO companies has facilitated the escalation of the MRO software market over the years. Artificial Intelligence (AI), the Internet of Things, and Big Data will drive the market demand for aviation MRO software in the coming years.

MARKET RESTRAINTS:

Limited budgets restrict MRO software acceptance and can hamper the global MRO software market. Another factor limiting the growth of the MRO software market is the lack of common data standards.

Impact of COVID-19 on the 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 center 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.

REPORT COVERAGE:      

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

CAGR

6.8%

Segments Covered

By Function, Solution, Pricing Model, End User, and Region

Various Analyses Covered

Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global MRO software market has been segmented and sub-segmented into the following categories.

 Global MRO Software Market – By Function:

  • 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.

Global MRO Software Market – By Solution:

  • Software
  • 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.

Global MRO Software Market - By Pricing Model:

  • Subscription model
  • 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.

Global MRO Software Market - By End User:

  • Operators
  • OEMS
  • MROS
  • 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.

Global MRO Software Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • 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 are driving 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 the market growth.

KEY MARKET 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).

SAP is a German International company that manufactures business software to manage business operations and customer relationships. The company is recognized for its ERP software. In terms of revenue, SAP is the largest software publisher in Europe and the third largest in the world.

RECENT HAPPENINGS IN THE MARKET:

  • In June 2020, IBS Software signed an agreement to collaborate with cargo with proven integration, providing seamless access to airline cargo and an emerging user base.
  • In June 2020, GE Aviation launched a Health Application identification card for the aviation industry. The solution focuses on three important areas: employee screening, passenger screening, and object screening.

Please wait. . . . Your request is being processed

FAQ's

1. What trends are shaping the MRO software market?

Current trends include the adoption of cloud-based MRO solutions, the integration of the Internet of Things (IoT) for predictive maintenance, and the use of Artificial Intelligence (AI) for data analysis.

2. How does MRO software contribute to preventive maintenance?

MRO software allows organizations to schedule and track preventive maintenance tasks, reducing the likelihood of equipment failures and unexpected downtime.

3. What industries commonly use MRO software?

MRO software is utilized in various industries, including manufacturing, aviation, energy, healthcare, transportation, and facilities management.

4. What are the key functionalities of MRO software?

MRO software typically includes features such as asset management, work order management, inventory tracking, preventive maintenance scheduling, and reporting.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample