Market Size of Aviation Maintenance Repair and Overhaul (MRO) Software Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.35 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aviation MRO Software Market Analysis
The aviation maintenance, repair, and overhaul (MRO) software market was valued at USD 6,811.29 million in 2022. It is anticipated to grow at a CAGR of 4.35% during the forecast period.
The COVID-19 pandemic had a severe impact on the global aviation industry. Due to decreased passenger traffic and limited aircraft movements, the maintenance, repair, and overhaul market was affected significantly in 2020. According to the IATA Report 2020, global airline passenger revenues declined by USD 314 billion, which indicated a decline of 55% from 2019. Nevertheless, as travel restrictions eased in 2021 and aircraft movements gradually increased, the demand for aircraft maintenance is expected to witness growth in the coming years. This is expected to help the revival of the related aviation MRO software industry.
An increase in the deliveries of new aircraft worldwide owing to a rise in air passenger traffic has led to an increase in the maintenance, repair, and overhauling services to extend the operational life cycle of the aircraft. There are various types of aircraft MRO software available globally. Some of the software are Foreflight, TRAX Maintenance, Quantum MX, Flightdocs, Airlabs, and WinAir, amongst others. Artificial intelligence and its cognitive technologies that make sense of data can streamline and automate analytics, machinery maintenance, customer service, as well as many other internal processes and tasks. So, AI technologies are useful for various aspects of airline operation management.
The advent of artificial intelligence (AI) has opened paths to precision repair operations and predictive maintenance, thereby further driving aircraft maintenance engineers to depend on MRO software when providing MRO services. Moreover, the growing interest in the usage of MRO software in recent times has led to various airline companies investing in advanced MRO software to carry out regular operations and this will lead to a positive outlook in the market and will lead to market growth during the forecast period.
