The global aviation MRO software market size was USD 6.73 billion in 2021. The market is projected to grow from USD 6.95 billion in 2022 to USD 9.76 billion by 2029 at an estimated CAGR of 4.93% in 2022-2029.
This information is provided by Fortune Business Insights, in its report, titled, “Aviation MRO Software Market, 2022-2029.”
According to our analysts, owing to technological progressions in commercial and military aviation, the aviation industry has turned to be more data-driven and related to ground-based MRO systems.
List of Key Players Mentioned in the Report:
- AeroSoft Systems Inc. (Canada)
- ATP Inc. (U.S.)
- Aviation Intertec Services Inc. (Canada)
- The Boeing Company (U.S.)
- CAMP Systems International Inc. (U.S.)
Growth in Need for Progressive MRO Due to Aircraft Fleet Expansion to Spur Development
Airlines throughout the globe are concentrated on extending their aircraft fleet size due to increasing air passenger traffic. The market's development in the forthcoming decade can be accredited to the growing number of aircraft fleets. The MRO sector is predicted to observe sturdy growth through the upcoming decade, owing to the surging demand for air travel and a rising aircraft fleet. The MRO software prices account for nearly one-fifth of the airline operational charges. The ever-increasing traveler-growth trend will propel the aviation MRO software market growth.
North America to Lead due to Presence of Major Companies Operating in Regional Market
North America dominated the market in 2021. North America's market size stood at USD 1.85 million in 2021. The U.S. led the market the by holding the largest aviation MRO software market share in 2021.
Europe's market size is estimated to grow at a considerable rate, owing to an augmentation in passenger air traffic. The existence of prime companies and original equipment manufacturers, such as Swiss Aviation Software and Lufthansa Technik, carry out an integral part in the regional market growth.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. Digitalization in this region is bolstering the technical viewpoint in the aeronautical industry for operative and proficient base controlling, operation administration as well as line management.