MRO Software Market Growth to Surpass USD 8.0 Billion by 2025

1. MROSoftwareMarketGrowthto Surpass USD 8.0 Billion by2025 The report "MRO Software Market in Aviationby End User (Operators, OEMs, MROs, Lessors), Solution (Software, Services), Deployment Type (On-premises,Cloud), Function Operations, (Maintenance, Business Management), Pricing Model, and Region - Global Forecast to 2025" The MRO software market in aviation is estimated to beUSD 6.9 billion in 2020 and is projected to reach USD 8.0 billion by 2025, at a CAGR of 2.9% from 2020 to2025. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=215684414 Services segment projected to grow at a higher CAGR from 2020 to2025 Based on solution, the cloud segment is anticipated to grow at a higher CAGR during the forecast period. The services segment includes services that are provided by MRO software developers to maintain and operate the installed MRO software efficiently. Frequent upgrades of software as per the maintenance requirements by end users are expected to drive the servicesmarket. Cloud segment projected to grow at a higher CAGR from 2020 to2025 Based on deployment type, the cloud segment is anticipated to grow at a higher CAGR during the forecast period. Cloud-based systems digitally maintain records in the form of manuals, maintenance logs, flight plans, aircraft maintenance tracking reports, record books for adherence to airworthiness regulations, and service bulletins. These systems also provide fast and inexpensive management of different types of maintenance data, offer real-time access to spare parts inventories, and send alerts for maintenance tasks to MROs. Subscription model segment projected to grow at a higher CAGR from 2020 to 2025 Based on pricing model, the subscription model segment is anticipated to grow at a higherCAGRduringtheforecastperiod.UsersofMROsoftwarewidelyadoptthe

2. subscription model due to its advantages of low cost and flexibility of use. The upfront cost of subscription-based software is typically lower than that of the ownership model. In addition, subscriptions generally are renewed monthly or annually, which encourages the software provider to demonstrate the ongoing value of the software and build a relationship with thecustomer. Maintenance management segment projected to grow at highest CAGR from 2020 to2025 Based on function, the maintenance management segment is estimated to grow at the highest CAGR during the forecast period. Maintenance management software enable the monitoring of aircraft components and provide real-time data for performance monitoring. The data from airline operators help MRO facilities make arrangements for future planned maintenance, including labor management and spare parts management. MRO software systems integrate maintenance, planning, execution systems, and workforce management systems along with dashboards and reporting tools that are used at mid-level and management levels, thus helping in improving line, heavy, and engine maintenance ofaircraft. MROs segment projected to grow at a higher CAGR from 2020 to2025 Based on end user, the MROs segment is anticipated to grow at a higher CAGR during the forecast period due to the high spending on installations of aircraft health monitoring software globally. In addition, replacement of old MRO software systems with advanced digitalized software solutions, and IT infrastructure modernization programs are expected to drive the MROssegment. Asia Pacific MRO software market in aviation projected to grow at highest CAGR from 2020 to2025 Based on region, the Asia Pacific region is expected to witness substantial growth during the forecast period. An increase in passenger traffic is the primary reason for the increased demand for maintenance technicians, and thereby, MRO software, especially in countries such as India, China, Japan, and Singapore. The increase in air passengers from Asia Pacific is a result of improvements in the economic status of the middle-class population and the introduction of low-cost carriers. According to Boeing Commercial Outlook 2019, there will be more than 17,390 aircraft deliveries by 2038 in Asia Pacific owing to the rise in passenger traffic. This will lead to a surge in demand for maintenance technicians in the region. According to Boeing Pilot & Technician Outlook, more than 266,000 new maintenance technicians will be required in the Asia Pacific region by 2038. With the rise in demand for maintenance technicians, there will be a rise in demand for MRO software during the forecast period to enhance maintenance operations. The MRO software market in aviation has been gaining traction over the past few years duetothepresenceofseveralestablishedcompaniesaswellasstartups.Someofthe

3. major players in the MRO software market in aviation are HCL Technologies Limited (India), SAP SE (Germany), International Business Machines Corporation (IBM) (US), Ramco Systems Limited (India), IFS AB (Sweden), Oracle Corporation (US), Boeing (US), Infor (US), Trax (US), Swiss AviationSoftware (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). News Also Covered: https://www.prnewswire.com/news-releases/mro-software- market-worth-8-0-billion-by-2025--exclusive-report-by-marketsandmarkets- 301030258.html AboutMarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth forclients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Contact: Mr. Aashish Mehra MarketsandMarkets™INC. 630 DundeeRoad Suite 430 Northbrook, IL60062 USA:1-888-600-6441