The Aviation Compliance Monitoring Software Market revenues were estimated at US$ 8.1 Bn in 2022 and is anticipated to grow at a CAGR of 7.7% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 17 Bn. The market through cloud-based Aviation Compliance Monitoring Software is projected to witness a CAGR of 7.5% during the forecast period.
It has been demonstrated that using appropriate compliance monitoring software in an airline can lower the annual number of security events. The world’s safest airlines are aware of how important compliance monitoring software is to their security management strategy in terms of usability, accessibility, mobility, and data categorization.
Furthermore, there are four key areas where the correct software assistance significantly enhances the safe environment: recognizing underlying issues, assisting with employee safety reports, and logical security software for users gathering and analyzing data.
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Increased spending on aviation compliance monitoring software is expected to open up new business opportunities. Service tracking, logbook tracking, flying time monitoring, administration of service bulletins, work scheduling, budget forecasting, digital task card administration and work order management are the key components of aviation compliance software.
In May 2021, India saw large foreign direct investments across a range of industries, including compliance monitoring software in aviation. This occurred as foreign businesses concentrated on acquiring billions of dollar worth of aviation compliance software. As a result, it is anticipated that investments and acquisitions will produce profitable market prospects.
Competitive Analysis
Web Manuals, Comply365, Merlot Aero, Vistair, Accelya Holding World, Aeroplan, Airline Software, BERNS Engineers, Seabury Solutions, Infotel Group, and Ideagen are a few of the key companies active in the global aviation compliance market.
Some of the Recent Developments for the Aviation Compliance Monitoring Software Market are:
- In June 2022, Ideagen announced that the essential resolutions regarding the purchase of Ideagen plc by Rainforest Bidco Limited, were discussed and passed at the court and general meetings. The procurement is being carried out through the use of a plan of arrangement that has been approved by the court and is pending for approval.
- In November 2019, Accelya, a provider of financial, business, and analytic technologies to the aviation and travel sector, today announced that Vista Equity Partners, an investment company specializing in enterprise software, data, and technology-enabled enterprises, will purchase the company.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Aviation Compliance Monitoring Software Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Global Aviation Compliance Monitoring Software Market in terms of Deployment Type (Cloud-based and On-premises), By Application (Large Enterprises and SMEs), across five regions (North America, Asia Pacific, Europe, Middle East & Africa and Latin America).
Market Segments Covered in Aviation Compliance Monitoring Software Market Analysis
By Deployment Type:
- Cloud-based
- On-premises
By Application:
- Large Enterprises
- SMEs
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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