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A service for military industry professionals · Thursday, March 28, 2024 · 699,459,052 Articles · 3+ Million Readers

Military Aircraft Maintenance, Repair & Overhaul (MRO) market is projected to grow at a CAGR of 4.39% by 2033: Visiongain Reports Ltd

/EIN News/ -- Visiongain has published a new report entitled Military Aircraft Maintenance, Repair & Overhaul (MRO) 2023-2033. It includes profiles of Military Aircraft Maintenance, Repair & Overhaul (MRO) and Forecasts Market Segment by Product (Heavy Engine Maintenance, Components, Heavy Airframe Maintenance, Operational and Field Maintenance), Market Segment by Application (Narrowbody, Widebody, Regional, Turboprop), plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country. 

The military aircraft maintenance, repair & overhaul (MRO) market was valued at US$40.17 billion in 2022 and is projected to grow at a CAGR of 4.39% during the forecast period 2023-2033. 

Robotics to Gain Significant Traction Across the Military Aircraft Maintenance, Repair & Overhaul (MRO) Sector 

As a result of the COVID-19 crisis, the military aircraft maintenance, repair & overhaul (MRO) industry is anticipated to meet a new reality in the years to come and will gradually begin to recover. Companies will need to adjust to the current low volumes as well as the rapid increase that is expected in the future in order to be successful in the second half of the forecast period. In addition, companies will need to address the loss of skilled labour as well as personnel management. MRO companies can become more attractive partners for defence organizations that are looking to control costs by reducing repair times, meeting tighter tolerances for the repair of engines from the latest generation, and increasing the pace of repairs using robotic systems, which can help MRO companies increase the pace of repairs more quickly.   

Robotics is on the rise among MROs across the globe. The implication of robotics in MRO sector is projected to improve efficiency and aid labour with routine/precision-oriented activities. The labour cost is rising at exponential rates across the developed economies, and with the introduction of robotics in MRO, it will not only cut down the labour expense but also improve the efficiency to a great extent. This is anticipated to offer lucrative growth prospects for the market players involved in the military aircraft maintenance, repair & overhaul (MRO) industry growth over the forecast period. 

Download Exclusive Sample of Report

https://www.visiongain.com/report/military-aircraft-mro-market-2023/#download_sampe_div

How has COVID-19 had a Significant Impact on the Military Aircraft Maintenance, Repair & Overhaul (MRO) Market? 

The COVID-19 pandemic has had a significant impact on the maintenance, repair, and overhaul (MRO) business across the globe”. Some of the major impacts include: 

  • Reduced demand: The pandemic has led to a reduction in demand for MRO services as a result of changes in defence budgets and economic downturn.   
  • Supply chain disruptions: The pandemic has caused disruptions to the supply chain, making it tough for MRO companies to acquire the parts and materials required to perform repairs and maintenance activities. 
  • Reduced investment: Companies may be reluctant to invest in new equipment and technologies due to the economic uncertainty caused by the pandemic, which can impact the MRO companies. 
  • Virtual Maintenance: MRO companies have been forced to adapt to the new situation by providing virtual maintenance services and remote troubleshooting, which can be less efficient and more costly than on-site maintenance. 
  • Prioritizing Health: MRO companies are prioritizing the health and safety of their employees and customers, which can lead to increased costs and reduced productivity. 

Overall, the COVID-19 pandemic has caused significant challenges for the MRO industry, but companies are adapting to the new situation by finding new ways to provide services and support to their customers. 

How will this Report Benefit you? 

Visiongain’s 266-page report provides 128 tables and 153 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the military aircraft maintenance, repair & overhaul (MRO) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Military Aircraft Maintenance, Repair & Overhaul (MRO). Get financial analysis of the overall market and different segments including product, application and capture higher market share. We believe that there are strong opportunities in this fast-growing military aircraft maintenance, repair & overhaul (MRO) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company. 

What are the Current Market Drivers? 

Smart Maintenance in Military Aircraft Maintenance, Repair & Overhaul (MRO) Driving Industry Growth 

Smart maintenance in military MRO involves using advanced technologies such as IoT, cloud computing, and machine learning to improve the efficiency and effectiveness of maintenance operations. It can help military organizations to optimize maintenance schedules, reduce downtime, and improve equipment availability. Furthermore, smart maintenance can be used to monitor the condition of equipment & other monitoring devices in real-time. 

Smart maintenance can also be used to improve supply chain management, by using data analytics to optimize the ordering and delivery of spare parts and other materials. Additionally, it can be used to improve the efficiency of maintenance operations, by providing technicians with real-time information about equipment and systems, and by using collaborative robots and other technologies to perform maintenance tasks. Overall, smart maintenance in military MRO can help to reduce costs, improve the readiness of equipment and units, and increase the overall effectiveness of military operations. 

Technological Advancements Anticipated to Play a Pivotal Role Over the Forecast Period 

The need to retain competitive edge over the latest technology will increase MRO costs and the frequency with which military aircraft maintenance, repair & overhaul (MRO) service providers operate. Some of the technologies that is on the rise in MRO sector are mentioned below: 

  • Robotics is on the rise among MROs across the globe. The implication of robotics in military aircraft MRO industry is projected to improve efficiency and aid labour with routine/precision-oriented activities. 
  • Additive manufacturing (AM) is gaining momentum: AM refers to usage of use of computer-aided-design software to produce 3D printed products. During the course of the forecast period, AM technology is projected to print replacement parts seamlessly which are tough, durable, and lightweight. The AM technology is in the nascent stage as few larger military aircraft MRO industry players are currently using it. 
  • Innovations in machine learning and artificial intelligence (AI) data acquisition, processing and implantation is anticipated to boost military aircraft MRO industry growth over the forecast period. 

Download Exclusive Sample of Report

https://www.visiongain.com/report/military-aircraft-mro-market-2023/#download_sampe_div

Where are the Market Opportunities? 

Emerging Economies to Offer Lucrative Growth Opportunities for Market Players 

Emerging countries might be able to offer MRO services at a lower cost than developed countries, which can be attractive to military organizations looking to reduce costs. These countries can invest in developing local capabilities in MRO, such as training and educating their workforce, building local supply chain and local manufacturing, which can reduce dependency on imports and increase self-sufficiency. Furthermore, emerging countries can specialize in specific areas of MRO, such as repair and overhaul of specific types of equipment or systems, which can make them an attractive option for military organizations looking for expertise in those areas. 

Growing Interest by Private Players & Establishment of MRO Facilities to Offer Lucrative Growth Prospects 

As a result of the growth of the global aviation industry, the manufacturing capability for aircraft parts and equipment, growing interest by private players, & establishment of MRO facilities across developing economies, businesses that are eager to participate and meet the military aviation MRO needs are anxiously watching this field. As a result of expanding capabilities and privatisation, an increasing number of companies are expected to enter the military aircraft maintenance, repair & overhaul (MRO) industry growth over the forecast period. On the other hand, the requirements for civilian and military aviation are very different and need to be understood correctly. Despite the difficulty of the industry, private major companies are anticipated to participate in military aircraft maintenance, repair & overhaul (MRO) sector. 

Competitive Landscape 

The major players operating in the military aircraft maintenance, repair & overhaul (MRO) market are AAR, AFI KLM E&M, Airbus, AMETEK, Inc., AMMROC, BAE Systems, Boeing, Curtiss-Wright Corporation, Dassault Aviation, Embraer S.A., General Dynamics, Hensoldt, Hindustan Aeronautics Limited (HAL), Honeywell International Inc., L3Harris Technologies, Inc., Leonardo S.p.A., Lockheed Martin Corporation, Lufthansa Technik, MTU Aero Engines AG, Pratt & Whitney (Raytheon Technologies Corporation), Rolls-Royce plc, RUAG Group, Safran SA, ST Engineering, Thales, and United Aircraft Corporation among others. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. 

Recent Developments 

  • In December 2022, AAR extended its distribution relationship with Leach International to sell electromechanical and solid-state switch gears to OEMs, commercial airlines, and MRO providers, as well as the military aftermarket.  
  • In September 2022, Safran entered into negotiations with Thales to acquire its aeronautical electrical systems business, which is involved in power generation and electric motors in the civil and military aeronautics sector. 

To access the data contained in this document please email oliver.davison@visiongain.com

Avoid missing out by staying informed – order our report now. 

To find more Visiongain research reports on the Defence sector, click on the following links: 

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: oliver.davison@visiongain.com

About Visiongain 

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs. 

Contact: 

Oliver Davison
Visiongain Reports Limited 
Telephone: +44 (0) 20 7336 6100 
Email: oliver.davison@visiongain.com
Web: www.visiongain.com


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