Global Defence Equipment Maintenance, Repair and Overhauling Services Market Outlook, Opportunities And Strategies

December 15, 2021December 15, 2021 by The Business Research Company

Learn about the global defence equipment maintenance, repair and overhauling services market through The Business Research Company, which provides information on defence equipment MRO services market size, defence equipment MRO services market drivers and restraints, defence equipment MRO services market players, the COVID-19 impact on the defence equipment MRO services market, and more.

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The global defence 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%.

The low interest rates boosted the growth of the defence equipment maintenance, repair and overhauling services market in historic period.

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The defence equipment maintenance, repair and overhauling services market consists of sales of defence 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 defence equipment, including fighter aircraft, military helicopter, battle ships, submarines, armored vehicles, missiles and rocket launchers.

Global defence equipment maintenance, repair and overhauling services market segments include:

By Type: Air based Defence Equipment MRO Services, Water based Defence Equipment MRO Services, Land based Defence Equipment MRO Services

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 was the largest region in the global defence equipment maintenance, repair and overhauling services market, accounting for 36% of the market in 2020.

The defence equipment maintenance, repair and overhauling services companies are 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.

TBRC’s defence equipment maintenance, repair and overhauling services market report covers:

Major Market Players: 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)

The Defence 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 defence equipment maintenance, repair and overhauling services market overviews, analyses and forecasts market size, share, defence equipment MRO services market players, defence equipment MRO services market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s defence 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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