How to view or import a pbf file (OSM data,binary format) in Arcgis or Qgis? Are any 3rd party applications needed?I would like to edit this file on any GIS Software.
The ArcGIS Editor for OSM: http://esriosmeditor.codeplex.com/ should allow you to do what you want to do. Data is downloaded via the Xapi.
QGIS has an OpenStreetMap Plugin: http://wiki.openstreetmap.org/wiki/QGIS_OSM_Plugin
I have only used the QGIS plugin, and it worked well.