Press release
Defense Equipment Maintenance, Repair and Overhauling Services Market Thriving: Anticipates Growth to $85.98 billion in 2025 and $110.09 billion in 2029
Defense Equipment Maintenance, Repair and Overhauling Services Market
Secured Growth in Defense Equipment Maintenance, Repair and Overhauling Services Market underpinned by budget allocation, equipment lifecycle management, technology integration, and a compound annual growth rate of 6.3% and 6.4% for 2025 and 2029 respectively.
What Is The Projected Market Size Of The Global Defense Equipment Maintenance, Repair and Overhauling Services Market And Its Growth Rate?
•The Defense Equipment Maintenance, Repair and Overhauling Services Market demonstrated strong growth reaching from $80.87 billion in 2024 to $85.98 billion in 2025.
•The CAGR By 2025 is 6.3% predominantly driven by increased defense budget allocation, strategic partnerships and geopolitical factors.
•The market is expected to continue to thrive with projected growth to $110.09 billion in 2029 reflecting a CAGR of 6.4%.
•The forecast period trend towards cybersecurity, increased complexity of equipment and sustainability will continue to drive market growth.
What Is Driving The Growth In The Defense Equipment Maintenance, Repair and Overhauling Services Market?
Low interest rates in developed countries are stimulating economic growth and enabling the flow of cheap money for investment in these economies. For example, in September 2023, European Central Bank lowered their inflation forecast significantly, encouraging borrowing for investment and driving spending. This has resulted in a boost for the growth of the defense equipment maintenance, repair, and overhauling services market in the forecast period.
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Who Are the Key Players Driving Defense Equipment Maintenance, Repair and Overhauling Services Market Growth?
•United Technologies Corporation
•Raytheon Co.
•Raytheon Technologies Corporation
•The Boeing Company
•Lockheed Martin Corporation
•General Dynamics Corporation
•Northrop Grumman Corp.
•Honeywell International Inc.
•BAE Systems plc
•Boeing Defense Space & Security
•Safran SA
•Thales Group
•L3Harris Technologies Inc.
•Rolls-Royce Holdings plc
•Leidos Holdings Inc.
•Fluor Corporation
•AECOM
•Textron Inc.
•Huntington Ingalls Industries Inc.
•Science Applications International Corporation
•Rheinmetall AG
•KBR Inc.
•CACI International Inc.
•Elbit Systems Ltd.
•Hindustan Aeronautics Ltd.
•Leonardo S.p.A.
•Aerojet Rocketdyne Holdings Inc.
•AAR Corp.
•Kratos Defense & Security Solutions Inc.
•AM General
•Aeronautical Systems Inc.
What Are The Key Trends In The Defense Equipment Maintenance, Repair and Overhauling Services Market?
•Integration of digital technologies
•Technological advancements
•Predictive maintenance technologies
•Outsourcing of maintenance services
•Condition-based maintenance (CBM).
What Are The Segments Of The Global Defense Equipment Maintenance, Repair and Overhauling Services Market?
1)By Type: Air Based Defense Equipment MRO Services, Water Based Defense Equipment MRO Services, Land Based Defense Equipment MRO Services
2)By Service Type: Annual Maintenance Contract, Individual Works, Others
3)By End User: Commercial Aviation, Business And General Aviation, Military Aviation, Others
Which Region Leads The Defense Equipment Maintenance, Repair and Overhauling Services Market?
North America led the defense equipment maintenance, repair and overhauling services market in 2024 as the largest region. Asia-Pacific is expected to emerge as the fastest growing region in the forecast period. Other regions covered in the market report include Western Europe, Eastern Europe, South America, Middle East, Africa.
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What Is Covered In The Defense Equipment Maintenance, Repair and Overhauling Services Global Market Report?
- Market Size Analysis: Analyze the Defense Equipment Maintenance, Repair and Overhauling Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Defense Equipment Maintenance, Repair and Overhauling Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Defense Equipment Maintenance, Repair and Overhauling Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Defense Equipment Maintenance, Repair and Overhauling Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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