Global Defense Equipment Maintenance, Repair and Overhauling Services Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Defense Equipment Maintenance, Repair and Overhauling Services Market Report by The Business Research Company covers defense equipment maintenance, repair and overhauling services market drivers and restraints, defense equipment maintenance, repair and overhauling services market size, major players, and the impact of COVID-19 on the defense equipment maintenance, repair and overhauling services market.
The defense equipment maintenance, repair and overhauling services market consists of sales of defense equipment maintenance, repair and overhauling services by entities (organizations, sole traders and partnerships) that provide MRO services for all kinds of air, sea and land-based defense equipment, including fighter aircraft, military helicopter, battle ships, submarines, armored vehicles, missiles and rocket launchers. The defense equipment maintenance, repair and overhauling services market is segmented into air based defense equipment MRO services, water based defense equipment MRO services and land based defense equipment MRO services.
The low interest rates boosted the growth of the defense equipment maintenance, repair and overhauling services market in historic period. The global defense equipment maintenance, repair and overhauling services market is expected to grow from $60.98 billion in 2020 to $62.15 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $74.31 billion in 2025 at a CAGR of 5%.
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Some defense equipment maintenance, repair and overhauling services market trends include companies investing in 3D printing or additive manufacturing technologies to offer replacement parts for tanks, ships, fighter jets. 3D printing involves producing three dimensional objects using computer aided design model. The application of 3D printing is to create functional components including prototypes, tooling and end-use production parts. Additive manufacturing or 3D printing helps in cost-effective production of small batches of intricate parts and complex part designs that needs to be repaired, upgraded and effectively maintained. The technology provides high degree of design freedom, optimization and integration of functional features, and product customization. For instance, in 2019, the U.S Army’s Research Laboratory (ARL) used 3D printing technology for the replacement of propeller fan for its Abrams tank.
Global defense equipment maintenance, repair and overhauling services market segments include:
1) By Type: Air Based Defense Equipment MRO Services, Water Based Defense Equipment MRO Services, Land based Defense Equipment MRO Services.
2) By Service Type: Annual Maintenance Contract, Individual Works, Others.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global defense equipment maintenance, repair and overhauling services market, accounting for 36% of the market.
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The Defense Equipment Maintenance, Repair and Overhauling Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides defense equipment maintenance, repair and overhauling services market overviews, analyzes and forecasts market size, share, defense equipment maintenance, repair and overhauling services market players, defense equipment maintenance, repair and overhauling services market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The defense equipment maintenance, repair and overhauling services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Defense Equipment Maintenance, Repair and Overhauling Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: BAE Systems, General Dynamics Corp, Lockheed Martin, Oshkosh, Rheinmetall
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Defense Equipment Maintenance, Repair And Overhauling Services Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Defense Equipment Maintenance, Repair And Overhauling Services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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Here is a list of reports from The Business Research Company similar to the Defense Equipment Maintenance, Repair and Overhauling Services Global Market Report 2021:
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