The airline route profitability software market is anticipated to grow at a CAGR of above 7% during the forecast period.
- Procurement of advanced software suites by the airlines to maximise over the ever growing aviation market is one of the major driving factors of airline route profitability software market.
- The growing adoption of technologies like artificial intelligence, augmented reality, virtual reality, mobile, and conversational commerce will assist the airlines in intelligent retailing and scaling their business. Such advancements in profitability software are expected have a positive impact on the growth of the market.
Key Market Trends
Other Software Segment to Experience the Highest Growth During the Forecast Period
With several airlines investing in the Reservations and Distribution, Crew Management, Flight Operations Control, and Maintenance software to reduce their cost and incur more profits, the Other Software segment of the market is expected to grow at the highest CAGR during the forecast period. Airlines are integrating a single integrated platform that can consolidate and process all the data from Reservations to flight operations and planning and also process Business Analytics and Market Intelligence data to identify demand trends and enable deriving deeper insights that are important for framing effective go-to-market pricing strategy. With growing importance for such software suites, this segment of the market is expected to grow at the highest rate during the forecast period.
Asia-Pacific Region to Experience the Highest Growth During the Forecast Period
Asia-Pacific region is anticipated to have the highest growth during the forecast period. The region have been a center of fast growing aviation industry with China and India as the main hubs of aviation. The growing tourism countries like Indonesia, Singapore, South Korea, Malaysia, Thailand, Australia, and Vietnam have led to increase in growth in the passenger traffic of this region. To make profits from this demand of the region, airlines are making strategic investments and plans to expand their presence in this region. The airlines are using route profitability software to evaluate the existing routes, to know the profit margins and plans & budgets profitability of routes, so that new routes can be undertaken in the future. Also, there are many companies based in this region also supporting the growth of the market during the forecast period.
The market is moderately fragmented with many players providing various software platforms to the airlines. The prominent players in the market of airline route profitability software are SITA, Sabre Corporation, IBM, NIIT Technologies Limited, and Airpas Aviation GmbH. The long term agreements of the software providers and airlines is a major factor helping the local players to maintain their market position despite high competition. With development of new digital solutions by integration of advanced technologies via periodical software updates to create schedules that are more reliable, more profitable, and quicker and easier to develop, thereby, generating more business value.
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