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 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.

MRO Software Market Report Snapshots

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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).

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. '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.)'

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 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.

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.

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MRO Software Market Regional Insights

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