Hyderabad, Aug. 14, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Military Aviation Maintenance, Repair, and Overhaul Market Report (2023-2028)," the market is estimated at USD 40.17 billion in 2023. It is expected to register a CAGR of 2.78% during the forecast period.
Military aircraft MRO refers to tasks performed to ensure the efficiency of aircraft and its parts. MRO service companies provide overhaul, inspection, replacement, defect rectification, and modification, complying with the directives and repair of aircraft.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 40.17 billion |
| Market Size (2028) | USD 46.21 billion |
| CAGR (2023-2028) | 2.78% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing demand for MRO services. |
| The demand for extending the lifecycle of existing aircraft. |
Who are the Top Companies in the Military Aviation Maintenance, Repair, and Overhaul Market?
The market is highly fragmented and consists of various local and international players offering MRO services to the existing aircraft fleet. The players are using strategies like partnerships to gain contracts and expand themselves in untapped markets.
Significant players in the global military aviation maintenance, repair, and overhaul market are,
- The Boeing Company
- BAE Systems PLC
- Elbit Systems Ltd
- Saab AB
- Lockheed Martin Corporation
- General Atomics
- Northrop Grumman Corporation
- Amentum Services Inc.
- Raytheon Technologies Corporation
- Rolls-Royce PLC
- Safran
- MTU Aero Engines AG
Other Reports That Might Be of Your Interest:
- Southeast Asia Civil Aviation Market Report - The Southeast Asian civil aviation market is expected to register a CAGR of more than 7% during the forecast period (2023-2028).
- Southeast Asia Aircraft MRO Market Report - The Southeast Asian aircraft MRO market size is estimated at USD 5.04 billion in 2023. It is expected to reach USD 6.72 billion by 2028, registering a CAGR of 5.94% during the forecast period (2023-2028).
Key Highlights from the Military Aviation Maintenance, Repair, and Overhaul Market Report:
Fixed-wing Aircraft to Witness Highest Growth
- The fixed-wing aircraft segment is expected to witness massive growth due to the increasing demand for fighter jets and the expenditure toward enhancing military aviation capabilities.
- Fixed-wing aircraft are critical in the armed forces during wars or special missions. Therefore, the need to maintain such aircraft properly and upgrade after certain time periods to extend their lifecycle is increasing.
North America to Dominate the Market
- North America is witnessing massive market growth due to the presence of the largest military aircraft fleet, increasing expenditure on improving the US Air Force’s capabilities, and rising programs for aircraft modernization.
- In the United States, MRO services are primarily driven by the significant demand for upgrading its vast fleet of military aircraft.
What are the Latest Developments in the Military Aviation Maintenance, Repair, and Overhaul Market?
- In April 2023, the Brazilian Air Force chose StandardAero to provide MRO services for Rolls-Royce AE 3007 engines that power its Embraer ERJ-145 aircraft.
- In March 2023, GE Aerospace awarded a service contract extension to ITP Aero to conduct MRO services for CT7 engines.
Mordor Intelligence has Segmented the Military Aviation Maintenance, Repair, and Overhaul Market Based on MRO Type, Aircraft Type, and Geography:
- By MRO Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Engine MRO
- Components and Modifications MRO
- Airframe MRO
- Field Maintenance
- By Aircraft Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Fixed-wing Aircraft
- Rotorcraft
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- United Kingdom
- France
- Germany
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- Qatar
- Egypt
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Military Aviation Maintenance, Repair, and Overhaul Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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- Military Aircraft Avionics Market Report - The military aircraft avionics market size is estimated at USD 36.65 billion in 2023. It is expected to reach USD 45.35 billion by 2028, registering a CAGR of 4.35% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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