Military Aviation MRO Market 2030 | analysis of trends and historical data on emerging markets, company profiles and growth factors to 2030.
Torrance, California, United States – According to the latest study by MarkWide Research, Military Aviation mro Market is expected to register a CAGR of 2.3% over the forecast period (2022 – 2030).
The term “maintenance, repair and overhaul” (MRO) refers to all actions aimed at keeping or restoring an item to a state conducive to fulfilling its intended purpose. It is important to emphasize that before, during and after the service life of defense platforms/systems, periodic maintenance is carried out.
A third of the total capacity of key asset classes is not in action at any given time for in-house, outsourced maintenance or a combination of the two for any given period. Several types of infrastructure/facilities are required to perform overhauls depending on the type of rig and type of repair being performed.
There are generally three main facilities that need to be provided. These are:
- Plant, machinery, as well as the required civil infrastructure, must be available.
- Standard and non-standard test equipment.
- A wide range of service tools are available, including special service tools,
- Assemblies and sub-assemblies as well as spare parts.
- Workforce with a high level of training.
- Documents relating to the technical aspects of the process.
An increase in MRO investments is expected in the next five to ten years
- Following Visiongain’s forecast, military aircraft maintenance, repair and overhaul activity is expected to grow in the short to medium term.
- The majority of the world’s major airlines predict that over the next few years there will be a noticeable increase in investment prospects for the aviation industry.
- Although the MRO business remains popular and growing, this can be attributed to the shift of these businesses from developed countries to low- and middle-income countries where skilled labor is more affordable and easier to find. due to the availability of cheap labor.
- Several major airlines are seeking to further reduce the cost of operations by developing sophisticated materials management solutions, reducing inventory budgets and improving the efficiency and reliability of their operations.
- As MRO service providers expand geographically, in order to provide a full range of services both regionally and globally, they also expand their geographical reach.
- Due to an increasing number of mergers and acquisitions between large companies alongside an increase in investment interest from private and non-strategic investors, this growth is attributed to a variety of factors.
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Opportunities in the market
Due to the expansion of large companies, there is an increasing demand for maintenance and repair services
- As fleet models and technologies evolve over the next decade, the MRO industry will need to make significant changes over the next decade to meet the growing demands that will come from expansion, regional changes and technological advances.
- Small regional jets and narrow bodies were the main reason for aircraft retirements, resulting in a relatively young retirement age of around 18 due to the relatively small size of the aircraft.
- There will be inconsistencies in the development of the world fleet, which will lead to changes in the world ship size rankings over the next century.
- Asia will be one of the main drivers of growth in terms of the fleet in service, particularly in China and India, with the fleet in service almost doubling, and the associated demand for maintenance and repair services will also double.
- Unlike North America, which won’t see much growth in the short term, the long-term fleet will be radically redesigned throughout the decade. The United States of America, along with Asia and Europe, would fall to the third position in terms of world economy.
IMPACT OF COVID-19
- The military aviation maintenance, repair and overhaul industry has been relatively less impacted by the COVID-19 pandemic than the aviation maintenance, repair and overhaul industry civil.
- Defense spending around the world increased in 2020, and the budget for the armed forces has experienced an upward trend over the years 2021-2022.
- Supply chain disruptions were experienced to some degree in 2020 by suppliers and MRO service providers in Asia Pacific and South America. However, with the streamlining of supply chain activities, the market has improved since then, which in turn has helped drive the growth of the market in the future.
Steady rise in the number of military aircraft fleets globally, rise in internal and external security threats, technological advancements, and prevalence of an aging aircraft fleet are expected to drive the market forward. Among the specific requirements of modernization initiatives undertaken by global militaries, joint ventures and strategic alliances have been formed to meet them.
To establish high-efficiency operations across the aircraft maintenance and repair supply chain, advanced digital technologies are imperative, starting with aircraft maintenance facility management and moving into of MRO across the entire supply chain.
Using real-time condition monitoring services, for example, MRO companies are moving from centralized maintenance diagnostic operations to prescriptive maintenance operations using developments in artificial intelligence and analytics. .
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Key Military Aviation MRO Market Players Covered:
- BAE Systems plc
- Lockheed Martin Company
- The Boeing Company
- Safran S.A.
- Raytheon Technologies Corporation
Military Aviation MRO Market Segmentation Analysis:
|Type of MRO|
|MRO Components and Modifications|
Geographical segmentation of the Military Aviation MRO Market includes:
- North America
- Asia Pacific
- South America
- The Middle East and Africa
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