The "Military Aviation MRO Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Military Aviation MRO market is anticipated to register a CAGR of over 6% during the forecast period.
- The need for increasing the time between overhaul and reducing the maintenance costs is demanding technological integration in the MRO activities, providing growth opportunities to the market.
- The increasing number of military aircraft crashes has made the militaries to focus more on the periodic maintenance of the fleet. This, in turn, is helping the military aviation MRO to grow.
- Technology advancement is rapid in the aviation sector. As countries try to maintain and modernize their fleet, several upgrade contracts are being signed with MRO facilities which are propelling the growth of the military aviation MRO market.
Major Market Trends
Engine MRO Segment to Dominate the Market in the Years to Come
Engine MRO is an extremely important part of MRO and also the most expensive one. The increasing complexity of the engine parts and the increased number of military aircraft crashes due to engine failures have made the militaries to focus on frequent engine maintenance and periodic checks.
Also, the engine is one of the components of the aircraft which has to be maintained regularly irrespective of whether it is flying or on the ground. All these factors are expected to increase the revenues for the engine segment in the years to come, making this segment to register the fastest growth during the forecast period.
North America Will Register the Highest CAGR During the Forecast Period
Currently, North America has the highest military aircraft fleet in the world, with the US having more than 13,000 military aircraft alone. The aging aircraft fleet of the country, coupled with various initiatives taken by the government to upgrade their military aircraft, will be the key growth drivers for the North America region's market growth.
The high military spending of the US will help the market in this regard. The US is planning to achieve 80% readiness rate for all military aircraft in the near future. Such initiatives are expected to propel the growth of MRO activities in the near future. Thus, the region is expected to show growth with the highest CAGR during the forecast period.
BAE Systems, Elbit Systems, Saab, Lockheed Martin Corporation, and Pratt & Whitney are some of the major players in the market.
The market is currently fragmented, with many local and global providers for MRO services around the world. Strategic partnerships between the players will help them gain more contracts and thereby expand their reach to untapped markets in the long run. Technological integration will be helpful for the players to attract new customers by reducing their maintenance costs.
As most of the MRO contracts are of the long run, it is a time taking process for new players to establish themselves in the market by competing with the existing ones.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 MRO Type
5.1.1 Engine MRO
5.1.2 Components MRO
5.1.3 Interior MRO
5.1.4 Airframe MRO
5.1.5 Modifications MRO
5.1.6 Field Maintenance
5.2 Aircraft Type
5.2.1 Fixed-wing Aircraft
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Latin America
126.96.36.199 Rest of Latin America
5.3.5 Middle East and Africa
188.8.131.52 United Arab Emirates
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Vendor Market Share
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 The Boeing Company
6.4.2 BAE Systems PLC
6.4.3 Elbit Systems Ltd.
6.4.4 Saab AB
6.4.5 Lockheed Martin Corporation
6.4.6 General Atomics
6.4.7 Northrop Grumman Corporation
6.4.8 DynCorp International
6.4.9 Pratt & Whitney
6.4.10 Rolls Royce PLC
6.4.11 AAR Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/tnrt16