The hardware is going cloud based/vm but due to a ton of legacy and regulation concerns (i.e. data protection, rules regarding data access in the event of accidents etc) it's very slow going and most companies will still host their own servers, with maybe a company-wide shared oracle/db instance.
The market is strangely competitive, though it has become quite stale in my opinion. RAMCO (http://www.ramco.com/aviation-suite/campaign/aviation/) are the closest thing to a "disruptive" force, but their software is widely regarded as flashy with little meat to it (and a lot of glitches).
Source: developer for one of the MRO software providers (not listed here)
This is by far one of the most stale industries as yarper mentioned. Really long sales cycles heavily relying on connections and also large implementation/customization fees are part of it. Esp. in flight planning - where 0.1% fuel savings are important, things haven't moved anywhere.
It's a pretty mature industry and btw one of the first ones to move to the cloud.