USD 1.2 Billion
MRO Software Market Size, Share, Growth Analysis, By Type(Structural and Non-structural), By Type(General and Commercial, Military and Defense, and Space Vehicles), By Product(Aluminum, Titanium, Composites, Superalloys), By Application(Aerostructure, Components, Cabin Interiors, Propulsion System), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2280 |
Region:
Global |
Published Date: April, 2024
Pages:
196
|Tables:
125
|Figures:
71
MRO Software Market Insights
Global MRO Software Market size was valued at USD 1.2 Billion in 2022 and is poised to grow from USD 1.26 Billion in 2023 to USD 1.93 Billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
Global MRO (Maintenance, Repair, and Operations) software market is impacted by various market dynamics which determine its growth, development, and opportunities. Understanding these developments is important for stakeholders, including retailers, investors and end users, to successfully navigate the market. Rapid advances in technologies such as IoT (Internet of Things), AI (Artificial Intelligence), machine learning, and cloud computing are driving innovation in MRO software solutions. Integrating this technology with MRO software provides predictive maintenance, real-time monitoring, and enhanced asset management capabilities. Predictive maintenance helps reduce downtime, extend asset life and reduce maintenance costs by identifying potential problems before they become serious. Increases operational efficiency by optimizing maintenance schedules, resource allocation, and inventory management.
Strict regulations and industry standards for equipment maintenance, safety, and environmental compliance drive the adoption of MRO software. MRO software simplifies compliance management by creating records, generating reports, and ensuring compliance with regulatory requirements. Organizations invest in MRO software to achieve a positive ROI by reducing operating costs, improving asset reliability and increasing productivity.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Maintenance Management
Fastest Growth
Operation Management
Growth Rate
5.4% CAGR
Global MRO Software Market ($ Bn)
Country Share for North America Region (%)
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MRO Software Market Segmental Analysis
Based on solution, the market is segmented into software and services. Based on function, the market is segmented into maintenance management, operations management, business management, electronic flightbag & logbook management. Based on point of sale, the market is segmented into subscription and ownership. Based on deployment type, the market is segmented into on-premises, cloud. Based on end-use, the market is segmented into airline operators, MROs, OEMs. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Function
The maintenance management segment held the largest market share in 2022. Maintenance management is further segmented into line maintenance, base maintenance, engine maintenance and fleet maintenance. Airlines and MROs strongly demand inventory management and advanced software. Further growth in this segment can be attributed to the increased demand for MRO services and the increasing number of worldwide requiring flight management software.
The operation management segment accounted for the largest market share and is expected to grow at a moderate CAGR during the forecast period. Performance management is categorized into training, safety and quality management, supply chain management, engineering & CAMO, and so on. The increasing need to train management staff with software and manage the supply chain is expected to increase segment expansion. The segment’s growth is driven by increased demand for supply chain management, training and safety software, and quality control.
Analysis by Solution
The software segment dominated the market. The software segment is further categorized as point solutions, suites, and enterprise resource planning (ERP). Increasing popularity of software-based solutions such as digital maintenance manuals, digital logbooks, and other health management software increases segment growth. As, in February 2022, Lufthansa Technik and Vietjet announced that due to digital pilot does not den with the Singapore Airshow Agreed to about a joint maintenance project, AVIATAR's Technical Logbook.
The service segment is expected to grow significantly over the forecast period. The services segment is expected to account for the largest share by 2030. The industry in the sector is increasing due to increased digitization of MRO services due to support, maintenance and upgrade requirements driven by system reviews end effect. Noticeable changes in standard certification, content, and other key variables are needed to better understand the work done in consulting firms. Thus, the market is expected to grow during the forecast period.
Global MRO Software Market By Function (%)
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MRO Software Market Regional Insights
North America dominated the global MRO software market share in 2022. North America market size is US$ 1.92 billion by 2022. United States dominated the market with the largest market share in 2022. IBM Corporation is leading the US market through global and domestic expansion plans. For example, in February 2022, IBS Software announced a partnership with Lynx Air to use the iFlight digital platform for flight and crew performance management.
The Asia Pacific in the global MRO software market is estimated to grow at the highest CAGR during the forecast period. Digitization in this region enhances the technological approach to effective and efficient base operations line management in the aviation industry. Thus, high growth rates are expected over the forecast period. Growth in domestic air traffic and international routes to and from China is expected to fuel market growth over the forecast period.
Global MRO Software Market By Geography
- Largest
- Fastest
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MRO Software Market Dynamics
Drivers
Increased Post-pandemic Travel Activities to Boost Market Growth
- As the number of COVID-19 patients decreases, followed by relaxation of travel restrictions and implementation of safety regulations by airlines and airport authorities, the market growth of global MRO software market is expected to increase in the coming years. Increasing demand for air travel has increased flight time. Additionally, the life of aircraft components such as various components such as landing gear, brakes, engines, and wheels decreases with increasing flight hours hence the focus of airlines and MRO personnel routine preventive flight inspections, health updates, and production controls. Widespread adoption of MRO software to enhance operational efficiency by archiving information is expected to fuel the growth of the market during the forecast period.
Fleet Expansion to Increase Demand for Advanced Mros
- Steady growth in air traffic to developing countries like India and China is expected to fuel the demand for new in major countries. About one-fifth of an airline’s operating costs are MRO software costs. Ridership should increase, with trains absorbing most of the maintenance prices. Considering the distribution, parts maintenance, line maintenance, and components can share most of the labor cost allocation. Because maintenance is a top priority, aircraft manufacturers have choices among aircraft OEMs, independent MROs, and components.
Restraints
High R&D Costs to Restrain Market Growth
- Despite the rise in demand for aircraft MRO software, high cost associated with research and development of such software applications is expected to restrain the market growth MRO software caters to electronic messaging, surveillance applications & communications, and needs most others are handled. The platform needs to be improved to keep pace with the increasing technological advancements in hardware and software. However, the high cost associated with technology-specific R&D is due to the complexity of module design and development. Furthermore, developing and integrating systems in platforms and maintaining these systems is expensive. Thus, these factors are expected to negatively affect the growth of the market.
Complex Practices
- The key mandate in the global MRO (Maintenance, Repair, and Overhaul) software market is the stringent implementation process associated with the adoption of these software solutions. MRO software integration into existing systems and business processes in aviation companies tend to require a great deal of time, resources, and expertise. These challenges can delay implementation, increase costs, and disrupt productivity during the transition. Additionally, requirements for adapting software to specific organizational requirements further increase implementation challenges, potentially hindering the adoption of MRO software solutions by some airlines.
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MRO Software Market Competitive Landscape
SAP’s Asset Intelligence Network (AIN) was combined with IBM’s Maximo Asset Management software to provide a simple and integrated asset management solution. The integrated solution provides organizations with real-time insight into asset performance, maintenance history, and performance statistics, facilitating better decision-making and predictive maintenance. Leveraging the cloud-based capabilities of both platforms operating evolving business requirements with an integrated solution-provided scalability and flexibility to adapt to requirements.
Top Player’s Company Profiles
- AeroSoft Systems Inc. (Canada)
- ATP Inc. (U.S.)
- Aviation Intertec Services Inc. (Canada)
- The Boeing Company (U.S.)
- CAMP Systems International Inc. (U.S.)
- Communications Software (Airline Systems) Limited (U.K.)
- GE Aviation (U.S.)
- HCL Technologies Limited (India)
- IBM Corporation (U.S.)
- IBS Software Pvt. Ltd. (India)
- IFS AB (Sweden)
- Jet Support Services Inc. (U.S.)
- Lufthansa Technik AG (Germany)
- Oracle Corporation (U.S.)
Recent Developments
- In March 2022, AAR, the U.S.-based aviation industry MRO service provider, signs a distribution agreement with Collins Aerospace's Goodrich Specialty Icing Systems business. The deal expects the company to supply heating systems for other MRO aircraft worldwide. Additionally, Di-Icer will also benefit from this agreement.
- In January 2022, Oracle Corporation introduced new logistics features in its software platforms, such as Fusion Cloud SCM, Fusion Cloud Transportation Management, and Fusion Cloud Global Trade Management, which help with cost reduction, risk mitigation, inventory management, customer service. It will also help improve the experience, and faster business operations.
- In February 2022, Lufthansa Technik and Viatjet announced an agreement with the Singapore Airshow to adopt a simple digital pilot-to-maintenance collaboration application, AVIATAR’s Technical Logbook.
MRO Software Key Market Trends
- Increased Use of Technologies Such as Artificial Intelligence, Augmented Reality and Internet of Things: The emergence of machine learning, IoT, AI and AR are expected to transform the aviation industry. For example, in July 2022, Air Asia, a Taiwanese privately owned aircraft maintenance company, deployed a fleet. Besides being said to incorporate the latest developments in artificial intelligence and machine learning as business automation and digital transformation, machine learning generates algorithms from existing data and can predict future results based on new data. Adopting machine learning in MRO software is expected to reduce supply chain risk and identify potential risk areas in the business, among many other benefits. Artificial intelligence with voice interfaces is expected to increase employee productivity and productivity, reducing the need for simple training and operations.
MRO Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global MRO software market witnesses a steady growth due to the efficiency of maintenance services, cost saving programs and the adoption of advanced technologies such as IoT and AI Industries such as manufacturing, energy, aerospace and automotive are primary users of MRO software solutions. Integrating IoT, AI, and machine learning capabilities with MRO software to provide advanced predictive maintenance and improve asset performance. Organizations are adopting MRO software to reduce operating costs by reducing downtime, improving inventory and improving asset longevity. The global MRO software market will continue its growth trajectory, driven by technological advancements, increasing demand for predictive maintenance and increasing awareness of the benefits of digital transformation. The integration of IoT, AI and cloud computing technologies will drive MRO software solution capabilities have increased further.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.2 Billion |
| Market size value in 2031 | USD 1.93 Billion |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on MRO Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on MRO Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the MRO Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the MRO Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the MRO Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the MRO Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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