Global Naval Vessel MRO Market: Information by Vessel Type (Submarines, Frigates, Corvettes, Aircraft Carrier, Destroyers, and Other Vessel Types), by MRO Type (Engine MRO, Dry Dock MRO, Component MRO, and Modification), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)—Forecast till 2025
Key Players:
Such prominent players including MRO market are BAE Systems (UK), General Dynamics Corporation (US), Huntington Ingalls Industries (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Elbit Systems (Israel), Raytheon Company (US), Collins Aerospace (US), Saab AB (Sweden), and URS Corporation (US), are studied in the latest MRFR analysis.
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Global Naval Vessel MRO Market Overview:
Many developed countries in the world are anticipated to focus on modernization and upgradation of their naval fleets. This is done with the objective to exert influence on distant geographical locations all over the world. This has led to ascension in the need to keep these naval fleets combat-ready, which requires MRO services.
The analysis conducted by Market Research Future (MRFR) has suggested that the global naval vessels MRO market is estimated to accrue a significant CAGR of 9% during the forecast period. Several factors have contributed to the significant growth noted by the global naval vessels MRO market. Upscaling demand for UAVs and UUVs, along with a surge in the demand for MRO outsourcing are some of the primary factors contributing to the burgeoning growth of the global naval vessels MRO market. Further, mounting investments in naval combat systems are anticipated to supplement the market expansion for naval vessels MRO.
However, the report has also mentioned a few market constraints which are hampering growth during the forecast period. cuts noticed in the defense budgets, and rising concerns for environmental hazards are few of the factors posing a challenge in the market growth. Further, the integration of new technologies is also anticipated to create some friction in the growth of the global naval vessels MRO market.
Market Segmentation:
The global naval vessels MRO market is segmented on the basis of vessel type, MRO type, and region. Based on vessel type, the global market for naval vessels MRO is segmented into frigates, corvettes, submarines, destroyers, and aircraft carriers. The aircraft carrier segment is observed to exhibit substantial growth during the forecast period. Such growth is accredited to the rise in demand for aircraft carriers in naval missions.
Based on MRO types, the global naval vessels MRO market is segmented into engine MRO, dry dock MRO, component MRO, and modification. The engine MRO segment is estimated to upscale at the highest rate during the assessment period.
Detailed Regional Analysis:
The global naval vessel MRO market is segmented into the regions of North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. Asia Pacific is estimated to dominate the global market for naval vessel MROs in the forthcoming years. This can be owed to the hefty investments by original equipment manufacturers in the development of advanced technologies.
Europe is anticipated to account for the second-largest global naval vessels MRO market share over the forecast period. This can be accredited to the growing investments by governments in several military programs.
The global naval vessel MRO market boasts a presence of several leading players. These players are studied in the MRFR report to provide a detailed and accurate analysis of the market. Additionally, such profiling of the key market players also enables the readers to understand the influence of various activities undertaken by these players on the comprehensive market landscape.
Industry Update:
August 2019: Veecraft Marine recently inaugurated new premises in Cape Town for shipbuilding and naval vessel building.
Table of Content:
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Naval Vessel MRO Market, By Vessel Type
1.1.2. Global Naval Vessel MRO Market, By MRO Type
1.1.3. Global Naval Vessel MRO Market, By Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions. . .
Continued
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