Press release
Defense Equipment Maintenance, Repair and Overhauling Services Market 2020 (Impact of COVID-19) Top Growing Companies: BAE Systems, General Dynamics Corp, Lockheed Martin, Oshkosh, Rheinmetall
Defense Equipment Maintenance, Repair and Overhauling Services Market
The global defense equipment maintenance, repair and overhauling services market is expected to decline from $59.7 billion in 2019 to $55.3 billion in 2020 at a compound annual growth rate (CAGR) of -7.5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 3% from 2021 and reach $59 billion in 2023.
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The defense equipment maintenance, repair and overhauling services market consists of sales of defense equipment maintenance, repair and overhauling services and related goods by entities (organizations, sole traders and partnerships) that provide MRO services for all kinds of air, sea and land-based defense equipment, including fighter aircraft, military helicopter, battle ships, submarines, armored vehicles, missiles and rocket launchers.
Robotics and Unmanned Aerial Vehicles (UAVs) are widely used in the Aircraft Parts Manufacturing, Repair & Maintenance market. These help in automated inspections by capturing images, comparing them against the respective 3D models (digital twins) and reporting any damage which requires further inspection or repairs. It also helps the companies to shorten inspections by several hours and work can be done more accurately and safely. Companies that are actively making civil UAV’s include DJI, Parrot and 3DRobotics.
Defense Equipment Maintenance, Repair and Overhauling Services Market Segmentation: -
By Type
Air based Defense Equipment MRO Services
Water based Defense Equipment MRO Services
Land based Defense Equipment MRO Services
By Service Type
Annual Maintenance Contract
Individual Works
Others
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Defense Equipment Maintenance, Repair and Overhauling Services Market Characteristics
4. Defense Equipment Maintenance, Repair and Overhauling Services Market Product Analysis
5. Defense Equipment Maintenance, Repair and Overhauling Services Market Supply Chain
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.
.
20. Key Mergers And Acquisitions In The Defense Equipment Maintenance, Repair and Overhauling Services Market
21. Market Background: Defense Market
22. Recommendations
23. Appendix
24. Copyright And Disclaimer
The report covers the trends and market dynamics of the Defense Equipment Maintenance, Repair and Overhauling Services Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Defense Equipment Maintenance, Repair and Overhauling Services Market are BAE Systems, General Dynamics Corp, Lockheed Martin, Oshkosh, Rheinmetall
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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