Press release
Aviation Software Market Set to Surpass USD 7.69 Billion by 2032, Driven by an Impressive Compound Annual Growth Rate of 9.15% and a Flight Plan for Prosperity
Aviation Software
According to MRFR analysis, the Global Aviation Software Market is expected to register a CAGR of~9.15% from 2022 to 2030 and hold a value of over USD 7.69 billion by 2030.
The Global Aviation Software Market refers to the worldwide market for software solutions and technologies designed specifically for the aviation industry. It encompasses a wide range of software applications and systems that are used by airlines, airports, aircraft manufacturers, maintenance and repair organizations (MROs), and other aviation-related businesses.
The growth of the Global Aviation Software Market is driven by factors such as the increasing air traffic, rising demand for efficient operations and passenger services, advancements in technology, and the need for improved safety and compliance measures.
The COVID-19 pandemic had a significant impact on the Global Aviation Software Market. Many airlines and aviation organizations faced severe financial constraints during the pandemic, leading to a decrease in their IT budgets and investment in new software solutions. Capital expenditure on software projects was often put on hold or delayed, affecting the growth of the market.
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Regional Analysis-
The largest region of the Global Aviation Software Market is North America. North America has a strong presence in the aviation industry, with several major airlines, airports, and aviation service providers based in the region. The market in North America is driven by factors such as advanced technological infrastructure, significant investments in research and development, and a high level of digitalization in the aviation sector.
The United States, in particular, plays a crucial role in the aviation software market. The country has a large number of airlines, including major carriers, as well as numerous airports and aviation-related businesses. The demand for aviation software solutions in the United States is driven by factors such as the need for efficient operations, regulatory compliance, passenger management, and safety measures.
Market Segmentation-
The Global Aviation Software Market has been segmented into type and application.
Based on the type, the market has been segmented into management software, analysis software, design software, simulation software and MRO software.
Based on the application, the market has been segmented into Airports and Airlines
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Key Companies in the Aviation Software Market include -
GE Aviation (U.S.)
Rolls-Royce (U.K.)
Pratt and Whitney (U.S.)
Lufthansa Technik (Germany)
Safran Aircraft Engines (Paris)
SIA Engineering Company (Singapore)
Air France Industries KLM Engineering and Maintenance (France)
MTU Aero Engines (Germany)
ST Aerospace (Singapore)
Delta Tech-Ops (U.S.)
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Aviation Software Market Industry Developments -
March 2023 GE Aerospace has announced that the next generation of its Rotor Analysis Diagnostic System (RADS) has begun testing with civilian and military clients. By facilitating operators' completion of rotor track and balance procedures and diagnostics in fewer flights, the RADS-NG (next generation) will minimize pilot time and save fuel.
March 2023 Pratt & Whitney Canada (P&WC), a division of Pratt & Whitney, announced that it had signed an agreement with helicopter distributor Rotortrade to increase the number of helicopter engines enrolled annually in the Certified Pre-Owned (CPO) Engine Program.
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