Defense Equipment Maintenance, Repair and Overhauling Services Industry to Achieve $122.54 Billion Growth by 2029

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How Will the Defense Equipment Maintenance, Repair and Overhauling Services Market Grow by 2025 in Terms of Size and Growth?
In the past few years, the market size for maintenance, repair, and overhauling services in the defense equipment sector has experienced substantial growth. The projections indicate an increase from $82.22 billion in 2024 to $88.45 billion in 2025, corresponding with a compound annual growth rate (CAGR) of 7.6%. This considerable growth during the historic period can be credited to factors such as an increased defense budget allocation, operational necessities, management of equipment lifecycle, geopolitical influences, and strategic alliances.

What Are the Estimated Growth Rates for the Defense Equipment Maintenance, Repair and Overhauling Services Industry Through 2029?
The market size of defense equipment maintenance, repair, and overhauling services is anticipated to experience significant growth in the coming years. The market is projected to ascend to $122.54 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.5%. The expansion during the predicted period is due to factors such as emphasis on cybersecurity, escalating complexity of equipment, ecological concerns and sustainability, heightened threats, security challenges, as well as investments in skill enhancement and training. The period is expected to see major trends such as the incorporation of digital technologies, advancements in technology, predictive maintenance technologies, maintenance services outsourcing, and condition-based maintenance (CBM).

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What Are the Strategic Drivers Boosting Defense Equipment Maintenance, Repair and Overhauling Services Market Performance?
Throughout the prospective timeline, developed nations are projected to encounter diminished interest rates as fiscal authorities implement rate reductions intending to ignite economic expansion and ward off deflation. This situation paved the way for a surge in inexpensive capital for investment in these regions. The policy of nurturing lower interest rates bolstered borrowing for ventures and amplified spending. For example, the Germany-based European Central Bank (ECB), an institution of the European Union, slashed their inflation forecast in September 2023 to 5.1% in 2023, 2.9% in 2024, and 2.2% in 2025. Concurrently, they projected the economic ascension of the euro zone to be at 0.7% in 2023, 1.0% in 2024, and 1.5% in 2025. Consequently, the dwindling interest rates are expected to underpin the expansion of the defense equipment maintenance, repair, and overhauling services market throughout the forecast duration.

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What Are the Segments in the Defense Equipment Maintenance, Repair and Overhauling Services Market?
The defense equipment maintenance, repair and overhauling services market covered in this report is segmented -

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

Subsegments:
1) By Air-Based Defense Equipment MRO Services: Aircraft Maintenance, Helicopter Overhaul, Unmanned Aerial Vehicle (UAV) Services
2) By Water-Based Defense Equipment MRO Services: Naval Ship Maintenance, Submarine Overhaul, Maintenance Of Other Marine Vessels
3) By Land-Based Defense Equipment MRO Services: Ground Vehicle Maintenance, Armored Vehicle Overhaul, Maintenance Of Artillery Systems

What Are the Key Adoption Trends in the Defense Equipment Maintenance, Repair and Overhauling Services Market?
Companies involved in the maintenance, repair, and overhauling of defense equipment are turning to 3D printing or additive manufacturing technologies to supply replacement parts for military vehicles such as tanks, naval vessels, and fighter aircraft. The 3D printing process creates tangible, 3-dimensional objects from a computer-generated design blueprint. Its utilization is geared towards the fabrication of functioning units, encompassing prototypes, tools, and final production components. Additive manufacturing, synonymous with 3D printing, enables cost-friendly manufacturing of small quantities of intricate parts, as well as elaborate part designs that require repair, enhancement, and efficient upkeep. The tech allows a significant level of design flexibility, functional feature integration and optimization, and customization of products. For example, in September 2022, the UK Ministry of Defense (MOD) kicked off Project TAMPA, an innovative program worth £5 million, dedicated to the development of 3D-printed parts for weaponry and various other military apparatus on demand. To minimize extensive waiting periods for defense supply, MOD intends to distribute print files swiftly across protected defense networks and promptly manufacture parts employing additive manufacturing (AM), or 3D printing.

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Which Companies Lead the Competitive Landscape of the Defense Equipment Maintenance, Repair and Overhauling Services Industry?
Major companies operating in the defense equipment maintenance, repair and overhauling services market include 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.

Where Are the Key Defense Equipment Maintenance, Repair and Overhauling Services Market Opportunities by Region?
North America was the largest region in the defense equipment maintenance, repair and overhauling services market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the defense equipment maintenance, repair and overhauling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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