Asia Pacific MRO Software Market in Aviation projected to grow at highest CAGR by 2025

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Asia Pacific MRO Software Market in Aviation
projected to grow at highest CAGR by 2025 The
report "MRO Software Market in Aviation by End
User (Operators, OEMs, MROs, Lessors), Solution
(Software, Services), Deployment Type
(On-premises, Cloud), Function (Maintenance,
Operations, Business Management), Pricing
Model, and Region - Global Forecast to 2025" The
MRO software market in aviation is estimated to
be USD 6.9 billion in 2020 and is projected to
reach USD 8.0 billion by 2025, at a CAGR of 2.9
from 2020 to 2025. Growing demand for
predictive, prescriptive, and condition-based
maintenance through data shared by connected
aircraft, and increasing adoption of
software-as-a-service are the major factors
anticipated to boost the demand for MRO
software in aviation during the forecast period.
Furthermore, the demand for the upgrade of
legacy management information system (MIS) to
digital MRO software in aviation and the need to
reduce turnaround time (TAT) of maintenance
operations are also expected to lead to a rise in
demand for aviation MRO software during the
forecast period. Browse 142 market data Tables
and 37 Figures spread through 195 Pages and in-
depth TOC on "MRO Software Market in Aviation -
Global Forecast to 2025" Download Sample Report _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id215684414 Services segment projected to
grow at a higher CAGR from 2020 to 2025 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 services market. Cloud
segment projected to grow at a higher CAGR from
2020 to 2025 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
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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 higher CAGR during the forecast period.
Users of MRO software widely adopt the
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 the
customer. Maintenance management segment
projected to grow at highest CAGR from 2020
to 2025 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
of aircraft. MROs segment projected to grow at a
higher CAGR from 2020 to 2025 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 MROs segment. Asia
Pacific MRO software market in aviation projected
to grow at highest CAGR from 2020 to 2025 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
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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. Key Market Players The MRO software
market in aviation has been gaining traction over
the past few years due to the presence of several
established companies as well as startups. Some
of the 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). Ask for Sample Report _at_
https//www.marketsandmarkets.com/requestsampleNew
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