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Global Commercial Aviation Asset Management Software Market Assessment
Frost & Sullivan, Dec 2009, Pages: 53
This research service deals with the software solutions providers for the after market solutions for commercial airline operators and the commercial 3rd party MRO providers. The market potential for this market has been identified in this report. There is a detailed competitive profiling of the major market participants of this market.
This Frost & Sullivan research service titled Global Commercial Aviation Asset Management Software Market Assessment provides an overview of the market, and examines key drivers, restraints and challenges. It also offers competitive profiling of the global commercial aviation asset management software solution providers and strategic recommendations.
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Market Overview
Promise of Increased Efficiency, Improved Asset Tracking and Safety Regulations Boost Market Potential
The global commercial aviation asset management software market offers considerable growth potential due to the need for integration and efficient business cycles. Market revenues are projected to grow at a compound annual growth rate (CAGR) of about 8 per cent from 2008 to 2018. The total market includes the asset management spending by airlines and maintenance, repair and overhaul (MRO) organizations.
“After the implementation of an IT system in this market, the time lag in business cycles has reduced by 20 per cent on average,” notes John Siddharth, Team Leader, Aerospace & Defence. “Shorter business cycles reflect directly on the increased efficiency of an organization.” This has driven many airline operators and MRO shops to implement IT asset management systems. The market is highly consolidated, and there are numerous participants in specific areas like inventory management within the asset management supply chain. Major participants can forge strategic alliances with smaller participants to meet specific requirements. Airlines have been subjected to stringent safety regulations. This has also had a considerable impact on market prospects. Airlines are implementing IT asset management solutions to keep track of fleet, inventory and human resources.
Data Migration Presents Technical Challenge
The cost of development is much lower in low-cost countries like India. Cost-effective outlays on highly skilled professionals reduce the cost of asset management software in the development stage. India has developed well in the services sector, and is currently an outsourcing hub for most global IT companies. This has promoted the number of highly skilled IT professionals for software development.
However, the lack of existing IT infrastructure presents a challenge, particularly in regions like eastern Europe and Africa, where there is a lack of proper Internet access. More than 80 per cent of these markets remain untapped, and without basic amenities like effective Internet connectivity, the potential of these markets will continue to remain unrealized. “Data migration is the process of retrieving existing information when a new system is implemented and can be considered the second step in the overall implementation process,” states Siddharth. “This has been a challenge from the technological aspect. Major market participants have their own technology for data migration.”
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