Torrance, California, USA -As per MarkWide Research’s latest study, 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 any and all actions that have the purpose of retaining or restoring an item in a state that is conducive to being able to satisfy its intended purpose. It is important to emphasize that before, during, and after the lifespan of defense platforms/systems, periodic maintenance is performed.
A third of the total capability of key asset classes is not in action at any one time for maintenance in-house, outsourced, or a combination of both for any given period of time. There are several types of infrastructure/facilities that are required for conducting overhauls depending on the type of platform and the type of repair that is being carried out.
There are generally three main facilities that need to be provided. These are as follows:
- The plant, machinery, as well as the requisite civil infrastructure, must be available.
- Testing equipment that is standard and non-standard.
- A wide range of maintenance tools are available, including special maintenance tools,
- Assemblies and subassemblies as well as spare parts.
- Manpower with a high level of training.
- Documents pertaining to the technical aspects of the process.
Drivers of the market
A rise in MRO investments is expected within the next five to ten years
- As a result of Visiongain’s forecast, it is expected that the military aircraft maintenance, repair, and overhaul business will grow in the near to medium term.
- The majority of the major airlines around the world are predicting that over the next few years, there will be a noticeable increase in investment prospects for the aviation industry.
- Although the MRO activity remains popular and is growing, this can be attributed to the shifting of such activities from developed to low- and middle-income countries where it is more affordable and easier to find skilled labor due to the availability of cheap labor.
- Several major airlines are looking 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 are also expanding their geographic reach.
- Due to a growing number of mergers and acquisitions between large companies at the same time as a rise in investment interest on the part of private equity 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 major companies, there is an increasing demand for maintenance and repair services
- As the fleet mix patterns and technologies evolve over the next decade, the MRO industry will have to make significant changes over the next decade in order to meet the growing demands that will arise from expansion, regional changes, and technological advances.
- Small regional jets and narrow bodies were the primary reason for plane retirements, which resulted in a relatively young retirement age of around 18 years due to the relatively small size of the planes.
- There will be inconsistencies in the development of the world’s fleet, which will result in changes in the rankings of global ship sizes over the next century.
- Asia will be one of the main growth drivers in terms of fleet in-service, especially in China and India, with almost a doubled fleet in-service, and the associated demand for maintenance and repair services will also double.
- As opposed to North America, which will not see much growth in the short term, the fleet in the long run will be dramatically redesigned throughout the course of the decade. The United States of America, along with Asia and Europe, would fall into the third position in terms of the world’s economy.
IMPACT OF COVID-19
- The military aviation maintenance, repair, and overhaul industry has been relatively less adversely affected by the COVID-19 pandemic than the civil aviation maintenance, repair, and overhaul industry.
- Defense expenditures in the world have increased in 2020, and the armed forces’ budget has experienced an upward trend over the years 2021-2022.
- Supply chain disruptions were experienced to a certain extent in 2020 by suppliers and MRO service providers in Asia-Pacific and South America. Although, with the streamlining of supply chain activities, the market has improved since then, which has in turn helped to drive the market’s growth in the future.
A consistent increase in the number of military aircraft fleets around the world, an increase in internal and external security threats, technological advances, and the prevalence of an aging fleet of aircraft are expected to drive the market forward. Among the specific requirements of modernization initiatives undertaken by the global armed forces, joint ventures and strategic alliances have been formed in order to address them.
To establish high-efficiency operations throughout the supply chain of aircraft maintenance and repair, advanced digital technologies are imperative, starting with the management of aircraft maintenance facilities and moving on to managing MRO across the entire supply chain.
By using real-time condition monitoring services, for example, MRO companies are moving from centralized maintenance diagnostic operations to prescriptive maintenance operations by utilizing the developments of artificial intelligence and analytics.
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Military aviation mro market Major Players Covered:
- BAE Systems plc
- Lockheed Martin Corporation
- The Boeing Company
- Safran SA
- Raytheon Technologies Corporation
Military aviation mro market Segmentation Analysis:
| MRO Type | |
| Engine MRO | |
| Components and Modifications MRO | |
| Airframe MRO | |
| Field Maintenance |
| Aircraft Type | |
| Fixed-wing Aircraft | |
| Rotorcraft |
Military aviation mro market Geographical Segmentation Includes:
- North America
- Europe
- Asia Pacific
- South America
- The Middle East & Africa
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