Naval Vessels MRO Market is expected to grow at a CAGR of 9% - Analysis by Global MRO industry

Market Highlights

The global naval vessels MRO market has seen remarkable growth over the past few years, and is expected to grow with similar pace during the forecast period. The major growth drivers for this market are growing demand for UUVS, high demand for naval MRO outsourcing and increasing investments in naval combat systems. On the other hand, the hindrances are defense budget cuts, environmental hazards, integration of new technologies. However, the major ongoing trends in the global naval vessel MRO market are modernization of naval combat systems, integration of advanced warfare systems in naval fleets and 3D printing. As per MRFR analysis, the global naval vessels MRO market is expected to grow at a CAGR of ~ 9% during the forecast period approximately.

For the purpose of this study, the global naval vessel MRO market has been segmented as vessel type, MRO type and regions. On the basis of vessel types, the market has been segmented as submarine, frigates, corvettes, destroyers and others. However, submarine has accounted for the largest market share, followed by frigates. Whereas, on the basis of MRO type, the market has been segmented as engine MRO, dry dock MRO, regular maintenance MRO and component MRO.

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Major Key Players

BAE Systems (UK),
General Dynamics (US),
Huntington Ingalls Industries (US),
Lockheed Martin (US),
Northrop Grumman (US),
Elbit Systems (Israel),
Raytheon (US),
Rockwell Collins (US),
Saab (Sweden),
URS Corporation(US).

Scope of the Report

This study provides an overview of the global naval vessel MRO market, tracking two market segments across five geographic regions. The report covers key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC), Latin America and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global naval vessel MRO market by its vessel type, MRO type, and regions.
By Vessel Type
• Submarine
• Frigates
• Corvettes
• Destroyers
• Others
By MRO Type
• Engine MRO
• Dry Dock MRO
• Regular Maintenance MRO
• Component MRO
By Region
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

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The report for Global Naval Vessel MRO Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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