Rapid increase in adoption of software as a service in aviation industry is one of the major factors driving market revenue growth

VANCOUVER, BC, CANADA, August 5, 2024 /EINPresswire.com/ -- The global Maintenance, Repair, and Operations (MRO) software market size was USD 7.03 Billion in 2022 and is expected to register a revenue CAGR of 5.0% during the forecast period, according to latest analysis by Emergen Research. Rising demand for advanced MROs, shorter turnaround times, adoption of software as a service, rising demand for aircraft maintenance, repair, and overhaul services, and increased technological advancements in aviation industry software are some of the major factors driving revenue growth of the Maintenance, Repair, and Operations (MRO) software market.

Software for Maintenance, Repair, and Overhaul (MRO) raises the level of machine and device visibility, control, and effectiveness in intricate shop floor activities. Industry 4.0 enabled the growth and development of MRO software. Airlines and related organizations are urged to employ Maintenance, Repair, and Operations (MRO) software as one of the cutting-edge and inventive digital solutions in response to emerging trends. Increasing digitalization of MRO, which is increasing productivity and reducing downtime for aircraft, is a major factor driving revenue growth of the market. The key advantages of MRO software include ability to schedule and manage repairs in a consistent, repeatable manner to reduce risk and downtime, as well as the use of as-designed and as-built specifications to increase planning and execution efficiency. One of the major factors driving revenue growth of the market is rapid adoption of Software-as-a-Service (SaaS), which is creating a high demand for MRO software in aviation sector.

The latest research report is dubbed as the first document encompassing the latest information about the Maintenance Repair and Operations Software market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Maintenance Repair and Operations Software industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.

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Key Market Competitors Profiled in the Report:

IBM Corporation, AerData B.V., Rusada, Ramco Systems, HCL Technologies Limited, Swiss Aviation Software Ltd., Oracle, SAP, Flatirons, Inc., and Boeing

Some Key Highlights From the Report
The Enterprise Resource Planning (ERP) solution segment accounted for largest revenue share in 2022. Aviation businesses benefit from more effective operations due to ERP software which helps aviation businesses, especially MRO. Companies that specialize in aircraft Maintenance, Repairs, and Operations (MRO) are particularly dependent on ERP systems since supply chain management and operations are severely hampered by frequent, unplanned repairs. In addition, rapid technological advancements and safety categorization, and key strategic partnerships by different companies are driving the market revenue growth. These are the major factors that are contributing significantly to revenue growth of this segment.

The maintenance segment is expected to grow at a steady revenue CAGR during the forecast period. MRO software is essential in complicated manufacturing because products require routine scheduled maintenance, repairs, upgrades, or overhauls throughout their lifecycle. The best software for aviation maintenance offers a seamless user experience with data-rich interfaces and straightforward navigation. The maintenance software also helps with record-keeping, planning, and scheduling, as well as with maintaining parts inventory and schedules of mechanics, technicians, flight crew, and other staff. These are some of the major factors that are driving revenue growth of this segment.

The Original Equipment Manufacturer (OEM) segment accounted for largest revenue share in the market in 2022. MRO is becoming a new source of revenue for OEMs who are bringing maintenance, repair, and overhaul in-house as a result of digitization. OEMs see the prudence of investing in MRO as the digital transition moves forward since it is quickly growing into a very significant income stream for their ongoing operations. Various initiatives by different companies for the development of their existing and new products are driving revenue growth of this segment.

North America market accounted for a significantly large revenue share in 2022. This is attributed to different product launches by different companies especially in the U.S., which is resulting in continued market revenue growth in this region. For instance, on 27 April 2022, Sterling Global Aviation Logistics announced the launch of QuickOnline 2.0, an upgraded version of the logistics software application created exclusively for the aviation and aerospace sector. The new program offered shippers a quick and simple platform for orders online, uploading necessary shipping paperwork, tracking, and managing their urgent shipments. The platform had several new timesaving and shipment visibility capabilities that were developed using the most recent technologies and development languages. These are some of the factors driving the market revenue growth in this region.

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This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Maintenance Repair and Operations Software market on the basis of product, application, and region:

Emergen Research has segmented the global Maintenance, Repair, and Operations (MRO) software market on the basis of solution, application, function, platform, point-of-sale, deployment type, end-use, and region:

Solution Outlook (Revenue, USD Billion; 2019-2032)
Enterprise Resource Planning (ERP) Solution

Point Solution

Application Outlook (Revenue, USD Billion; 2019-2032)
Logistics and Transportation

Healthcare and Pharmacy

Retail and Food Delivery

Function Outlook (Revenue, USD Billion; 2019-2032)
Maintenance

Operations

Business Management

Platform Outlook (Revenue, USD Billion; 2019-2032)
Aerial Delivery Drones

Ground Delivery Drones

Point-of-Sale Outlook (Revenue, USD Billion; 2019-2032)
Subscription

Ownership

Deployment Type Outlook (Revenue, USD Billion; 2019-2032)
On-premise

Cloud

End-Use Outlook (Revenue, USD Billion; 2019-2032)
Airline Operators

Maintenance, Repair, and Overhaul (MRO) 

Original Equipment Manufacturer (OEM)

Regional Analysis of the Maintenance Repair and Operations Software Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Objectives of the Report:

Analysis and estimation of the Maintenance Repair and Operations Software market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Maintenance Repair and Operations Software market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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