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Global Naval Vessels MRO Market: By Vessel Type: Submarines, Frigates, Corvettes, Aircraft Carrier, Destroyers; By MRO Type: Engine MRO, Dry Dock MRO, Component MRO, Modification; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Naval Vessels MRO Market Outlook
The global naval vessels MRO market is projected to grow in the forecast period of 2023-2028 at a CAGR of 6.9%.
The growing focus of countries on keeping their naval fleet combat-ready has increased the demand for naval vessels MRO services. Due to factors such as the increased spending on defence by developing countries, the Asia Pacific is projected to lead the naval vessels MRO market in the forecast period.
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Market Segmentation
Naval vessels MRO sector covers overhauls, servicing, audits, regular inspections, repairs, and modifications performed on a vessel and its components to prolong the ship life.
The industry can be broadly categorised based on vessel types and MRO types.
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Based on vessel types, the industry is divided into:
- Submarines
- Frigates
- Corvettes
- Aircraft Carrier
- Destroyers
Based on the MRO types, the industry is divided into:
- Engine MRO
- Dry Dock MRO
- Component MRO
- Modification
The EMR report looks into the regional markets of naval vessels MRO like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The increasing geopolitical tensions between countries are increasing the demand to upgrade navy fleets, which is aiding the growth of the naval vessels MRO market. The size of an aircraft carrier is larger than a destroyer or an assault ship, which requires considerable maintenance. This factor is increasing the need for MRO services in the aircraft carrier market segment. The rising MRO costs leading to the emergence of the Asia Pacific as a naval vessel maintenance hub is one of the primary trends in the naval vessels MRO industry.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global naval vessels MRO market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- General Dynamics Corporation (NYSE: GD)
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Huntington Ingalls Industries
- Elbit Systems
- Raytheon Company
- BAE Systems
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Vessel Type, MRO Type, Region |
| Breakup by Vessel Type | Submarines, Frigates, Corvettes, Aircraft Carrier, Destroyers |
| Breakup by MRO Type | Engine MRO, Dry Dock MRO, Component MRO, Modification |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | General Dynamics Corporation (NYSE: GD), Lockheed Martin Corporation (NYSE: LMT), Northrop Grumman Corporation (NYSE: NOC), Huntington Ingalls Industries (NYSE: HII), Elbit Systems (TLV: ESLT), Raytheon Company (NYSE: RTN), BAE Systems (LON: BA), Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Naval Vessels MRO Market Analysis
8.1 Key Industry Highlights
8.2 Global Naval Vessels MRO Historical Market (2018-2022)
8.3 Global Naval Vessels MRO Market Forecast (2023-2028)
8.4 Global Naval Vessels MRO Market by Vessel Type
8.4.1 Submarines
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Frigates
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Corvettes
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Aircraft Carriers
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Destroyers
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.5 Global Naval Vessels MRO Market by MRO Type
8.5.1 Engine MRO
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Dry Dock MRO
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Component MRO
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Modification
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global Naval Vessels MRO Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 General Dynamics Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 BAE Systems
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Northrop Grumman Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Huntington Ingalls Industries Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Naval Vessels MRO Market: Key Industry Highlights, 2018 and 2028
2. Global Naval Vessels MRO Historical Market: Breakup by Vessel Type (USD Million), 2018-2022
3. Global Naval Vessels MRO Market Forecast: Breakup by Vessel Type (USD Million), 2023-2028
4. Global Naval Vessels MRO Historical Market: Breakup by MRO Type (USD Million), 2018-2022
5. Global Naval Vessels MRO Market Forecast: Breakup by MRO Type (USD Million), 2023-2028
6. Global Naval Vessels MRO Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Naval Vessels MRO Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Naval Vessels MRO Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Naval Vessels MRO Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Naval Vessels MRO Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Naval Vessels MRO Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Naval Vessels MRO Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Naval Vessels MRO Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Naval Vessels MRO Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Naval Vessels MRO Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Naval Vessels MRO Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Naval Vessels MRO Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Naval Vessels MRO Market Structure
Key Questions Answered in the Report
The global naval vessels MRO market is projected to grow at a CAGR of nearly 6.9% in the forecast period of 2023-2028.
The major drivers of the industry include the rising disposable incomes, increasing population, rising focus of countries on keeping their naval fleet combat ready, and the rising spending on defence by developing countries.
The rising geopolitical tensions between countries are increasing the demand to upgrade navy fleets, which is expected to be a key trend guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with the Asia Pacific accounting for the largest market share.
The leading vessel types in the industry are submarines, frigates, corvettes, aircraft carriers, and destroyers.
The significant MRO types in the market are engine MRO, dry dock MRO, component MRO, and modification.
The leading players in the market are General Dynamics Corporation, BAE Systems, Northrop Grumman Corporation, and Huntington Ingalls Industries Inc., among others.
Analyst Review
The global naval vessels MRO market is being driven by the increased focus of countries on keeping their naval fleet combat ready. Aided by the rising spending on defence by developing countries, the industry is expected to witness a healthy growth in the forecast period of 2023-2028, growing at a CAGR of 6.9%.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on vessel type, the market can be segmented into submarines, frigates, corvettes, aircraft carrier, and destroyers. On the basis of MRO type, the industry can be divided into engine MRO, dry dock MRO, component MRO, and modification. The major regional markets for naval vessels MRO are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include General Dynamics Corporation, BAE Systems, Northrop Grumman Corporation, and Huntington Ingalls Industries Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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