Aviation MRO Industry Outlook
The Aviation MRO Software market was valued at $24.1 Billion in size in 2022. It is anticipated that it will grow to $34.9 Billion by 2030, at a CAGR of 5.44%. The market is expected to grow rapidly in countries like India, Japan, and Singapore.
The growth of the ERP Software industry can be attributed to various factors. According to a report by Market Research Future, “The expansion of current fleets and the rise in demand for commercial airlines are the key market drivers enhancing the market growth.” Besides, there are other factors contributing to it. These include technological advancement in the aviation sector, increased developmental programs for the modernization of aircraft, increasing use of data-driven approaches in the industry, and government legislation requiring replacements of outdated fleets.
What is Aviation MRO Software?
Aviation MRO Software is a comprehensive and fully integrated computer software that facilitates easy planning, management, and tracking of the maintenance, repair, and overhaul of aircraft and their structural components. Airline MRO software contains a set of modules such as Work Order Management, Inventory Management System, Shipping, Scheduling, Quality Control, Reporting, and Compliance Tracking, among others.
Aviation MRO Software streamlines the maintenance, repair, and overhaul procedures, and brings greater visibility to the operation by keeping a detailed log of everything. It is an all-inclusive software that streamlines the workflow, generates up-to-the-minute analytical reports, lowers errors, and enables companies to leverage the power of automation.
Key Challenges Faced by the Aviation Industry
Higher Costs
The aviation industry is capital-intensive with higher fixed costs and higher operational costs. Over the past few years, there has been a steady increase in fuel costs. High taxes and higher maintenance charges further shrink the profit margins.
Inadequate Infrastructure
Most airports in India are old and lack adequate infrastructure and modernization. Inadequate infrastructure may cause air traffic, congestion, limited runway capacity, delays, and safety concerns. Building new infra and runways can be expensive and time-consuming, with land acquisition hurdles.
Regulatory Hurdles
The regulatory environment in India is complex with multiple regulatory agencies involved. As a result, there are delays in obtaining permits and executing projects based on their planned timeframe. Furthermore, such delays can increase project costs.
Security Challenges
In a country like India that faces constant threats of terrorism, aviation companies have to adhere to a wide range of security practices to maintain the safety and security of passengers, crew members, airports, and infrastructure.
Key Features of Aircraft Maintenance Software
Business management software brings automation to the aviation industry. It streamlines the creation of regular inspections and scheduled maintenance. When an inspection or maintenance is scheduled, it is visible to the sales and operations team in real time so that they can make changes in their day-to-day operations.
Aircraft maintenance software is feature-rich software that streamlines aircraft inspections by allowing companies to manage multiple inspection activities and set up inspection schedules. These schedules can be based on numerous parameters such as calendar dates, number of cycles, aircraft clock, and landing. It keeps a detailed log of all inspections, and generation of Crew Briefing Document, and Maintenance Statement.
MRO Aviation Software generates detailed flight logs that provide crucial insights required for the maintenance and repair activities of aircraft. With timely access to required information, companies benefit from streamlined maintenance workflow, and predictive maintenance capabilities, and get timely updates about mismatches in the flight data.
Airline MRO Software keeps a detailed log of all aircraft, including any defects that arise during their operation. The logs are stored in a digital form, and they are linked to each aircraft. Companies can track MEL numbers and categories throughout the deferred items. Easy identification of defects helps improve aircraft availability and lower repair costs.
Aircraft maintenance software generates maintenance reports containing crucial details about the maintenance activities, any missions, and regular flights. It makes easy identification of defects and flags them with colors. When an aircraft is undergoing maintenance, it is automatically marked unavailable. While an aircraft is undergoing maintenance, it provides real-time updates on the maintenance progress.
Aircraft maintenance software keeps detailed information about the aircraft specifications, and performance details, and allows businesses to customize the preferred format of display. For example, they can choose to view the data in hours and minutes, or hours in decimals, pounds, and so on.
Aviation MRO software is 5G ready. It supports the latest network infrastructure, and Multi-access Edge Computing (MEC). 5G offers highly precise blisks that provide a deeper understanding of various scenarios. With Aircraft maintenance software, companies can spot damages to aircraft with the help of high-resolution photos as blisks move across the line.
Aircraft maintenance software acts as a cloud repository of your documents with real-time access to all reports including maintenance and inspection reports, and compliance reports. Leveraging the cloud technology enables businesses to get real-time access to reports from any device, or location, and share them on the fly. With Cloud ERP, they can also assign, review, or update work orders straight from their mobile or desktop.
Primary Functions of Aircraft Maintenance Software
View detailed insights about maintenance requirements for each asset
An asset-wise report providing insights about operational hours, and data utilization with a comprehensive asset management system
Aviation MRO software shows a list of resources required for carrying out a specific service activity
Provides tasks assigned to servicemen, along with service information and instructions
Facilitates AR Automation and automated generation of Bills of Materials (BOMs)
Eliminates duplication of work which helps boost productivity
Design and organize Work orders to meet various pre-planned and ad hoc service requirements
Airline MRO software simplifies the creation and management of service documents
Trend assessment and KPI monitoring
Aircraft maintenance software helps conduct operation-wide planning and individual asset-specific requirements
Aviation MRO Software Advantages
Improved Safety
Safety is paramount for any aviation company. A major benefit of using Airline MRO Software is it maintains rigorous safety standards across all operations and minimizes the risks of accidents caused by mechanical failures. It facilitates the use of modern technology which helps with the early identification of defects. Airline MRO Software helps ensure aircraft are fully functioning and passengers & crew members can have a safe flying experience.
Enhanced Efficiency
MRO Aviation software is easy to use. It replaces the traditional paperwork and empowers technicians with real-time access to technical data stored in digital form. It streamlines tasks and maintains up-to-date records of repair, maintenance, and overhaul tasks. MRO aviation software enables focusing on core operations such as flight operations and superior customer experience. Ultimately, Aircraft maintenance software enhances efficiency in the maintenance and repair and enables faster resolution.
Cost Savings
Aviation MRU helps proactively identify technical issues with the aircraft in the initial phase to avoid costly repair charges at a later stage. This cost-effective way of maintenance and repair by airline MRO software helps save unnecessary expenditures in the long run and increases the aircraft’s lifespan and efficiency. Other benefits of ERP include better price negotiation, better partner relations, and cost-efficiency in the procurement process.
Regulatory Compliance
Aviation companies have to adhere to the latest regulatory requirements strictly. Aircraft maintenance software provides interconnected systems to better quality, safety, and performance standards, avoid fines, and comply with strict regulatory requirements. With aviation ERP software, tracking regulatory changes and strict adherence to them becomes easier and companies benefit from reduced penalties and improved safety.
Unlock Data-backed Insights
Best ERP software in india provides a wealth of information such as maintenance activities, engine performance, and access to real-time data and analytical reports. As a result, businesses can track the performance of maintenance, repair, and overhaul activities. Airline MRO software also assists with measuring performance using Key Performance Indicators (KPIs) and offers robust business intelligence tools. As a result, aviation companies are in a better position to discover areas of improvement and make strongly data-backed decisions.
IoT Sensors Integration
Aviation MRO software enables integration with the Internet of Things (IoT) sensors and real-time data transmission. It streamlines the custom reporting workflow and provides detailed insights from IoT sensors into customized dashboards and reports. Thanks to MRO Aviation software, companies can ensure higher data standards and consistency across a diverse range of systems. Not only that, Airline MRO software ensures that only authorized individuals have access to this data.
Trends in the Aviation MRO Software Market
The aviation industry has undergone a lot of transformation in recent years. There has been an increasing usage of modern technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Augmented Reality (AR), and Machine Learning (ML).
Integrating the Internet of Things (IoT) with MRO Software gives access to enormous amounts of data. It brings efficiency throughout different activities from production and quality control to final delivery to the customer.
The integration of Augmented Reality (AR) with the MRO brings efficiency and cost-savings in remote support operations. With Airline MRO software, companies have been able to lower their supply chain risks, improve efficiency, and early identification of errors.
The use of Machine Learning (ML) makes it easier to anticipate future outcomes based on historical data such as sales data, customer behavior, market trends, and so on. It can also help improve employee efficiency, and lower the need for employee training.
Higher Growth is Anticipated in the Asia-Pacific Region
A spike in the demand for MRO software is anticipated during 2023-28, particularly in the Asia-Pacific region. The Asia-Pacific region alone has a presence of more than 7000 commercial aircraft and has seen a significant increase in aircraft fleet. For example, India has witnessed considerable growth in the aviation industry in recent years, resulting in a potentially higher opportunity for the adoption of Aircraft MRO software.
What is the Name of the Software Used for Aviation Maintenance?
Aviation Maintenance, Repair and Overhaul software is used for aviation maintenance. It is also known by other names such as Airline MRO Software and Aircraft maintenance software. It automates the maintenance process, streamlines workflow, tracks work orders and helps manage assets & payrolls.
What is the Full Form of Aircraft MRO?
The full form of Aircraft MRO is Aircraft Maintenance, Repair and Overhaul.
How Large is the Market for Airline MRO Software?
The current aviation maintenance repair and overhaul (MRO) software market size is $6,811.29 Million in 2022. The market is expected to grow at a CAGR of 4.35% over the next few years.
Which Region Witnesses Faster Growth for MRO Aviation Software?
The fastest growing region in the Aviation Maintenance Repair and Overhaul (MRO) software market is believed to be Asia Pacific which is anticipated to grow at the highest CAGR during the period 2023-28.
Which Region Witnesses Higher Share in Aviation MRO Software Market?
According to the data published in 2022-23, North America has the biggest share in the Aviation Maintenance Repair and Overhaul (MRO) software market.
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