Market Trends of Aviation Maintenance Repair and Overhaul (MRO) Software Industry
The MRO Segment Dominated the Market During the Forecast Period
The MRO segment dominated the market during the forecast period. MRO companies are the main users of MRO software compared to OEMs and airlines. MRO companies started incorporating software-based MRO techniques for serving customers quickly and efficiently. For instance, in November 2021, MRO Holdings, a major provider of airframe maintenance in the North and Central America region, awarded multi-year software as a service (SaaS) subscription contract to EmpowerMX. Also, the introduction of newer generation aircraft has raised new challenges in terms of support services management, which has stimulated the adoption of software by the MROs to enhance the quality of their offerings to the clients.
As the global aircraft fleet is increasing due to the increase in air traffic, more new MRO facilities are being built to provide services to the expanding air fleet, thus resulting in the market's growth. For instance, in January 2022, MHI RJ Aviation Group (MHIRJ) opened a new facility for MRO operations at Middle Georgia Regional Airport in Macon, Georgia, growing its footprint in North America. The MRO service provider completed Phase 1 of its expansion project at the West Virginia Service Center in October 2022. New MRO facilities construction and expansion of existing ones by the MRO providers, and expansion of their operations in new regions will result in the growth of the segment during the forecast period.
Asia-Pacific is Expected to Show the Highest Growth During the Forecast Period
The Asia-Pacific region is expected to showcase significant growth in the market during the forecast period. The presence of a large aircraft fleet is anticipated to drive the demand for the MRO software market in the region significantly. For instance, as of 2021, more than 7900 commercial aircraft were present in the Asia-Pacific region, indicating the high potential demand for MRO software in the region.
The average aircraft fleet in the region is also higher than most of the global market; hence, the demand for aircraft MRO is also higher. China and India are one of the fastest-growing markets for aviation in the Asia-Pacific region. Growing aircraft fleets and the presence of major aircraft maintenance and repair facilities in countries like China and Singapore, which are adopting the MRO software, are the main reasons for the high growth of aviation maintenance, repair, and overhaul software in the region.
Various airlines, MROs, and OEMs are carrying out various maintenance activities, especially for aircraft in the region. In November 2022, HCLTech signed a contract with SR Technics, an MRO service provider in the civil aviation industry to digitally transform SR Technics' operations. The HCLTech would implement a new greenfield S/4HANA environment hosted on Microsoft Azure using RISE with SAP and a cloud-based ERP platform that would allow SR Technics to transform and simplify its business operations and enables it to modernize the application stack and optimize IT operating costs. SR Technics would implement iMRO which is a smart and highly differentiated maintenance software solution. Hence, increasing aircraft deliveries, growing spending on aircraft MRO due to a large number of old aircraft, and the development of the next generation of MRO software is estimated to drive the market growth across the Asia-Pacific.
