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The North America maintenance, repair, and operations (MRO) market size was valued at USD 116.75 billion in 2023. The market is further projected to grow at a CAGR of 2.3% between 2024 and 2032, reaching a value of USD 143.47 billion by 2032.
A key trend in the North America maintenance, repair, and operations (MRO) market is the adoption of smart technology to track performance and maintenance needs of equipment. Predictive maintenance, unlike traditional preventive maintenance uses sensors and smart technology to overcome inefficiencies of the traditional approach, such as unnecessary replacement of parts, excessive downtime and inaccurate inventory levels. With the advancement in technology, sensors and the Internet of Things (IoT) has become more accessible and inexpensive. This technological adoption allows manufacturers to efficiently track equipment performance and maintenance needs and identify and plan for maintenance, repair and replacement before visible defects occur.
According to the North America maintenance, repair, and operations (MRO) market analysis, MRO services are crucial in the aerospace and defence sector. The main activities of MRO providers include the maintenance, servicing and repairing of engines, components, and other systems. Additionally, services providers also engage in aircraft line maintenance, aircraft ferrying services, as well as inspection and testing services. In 2022, the Canadian aerospace manufacturing and MRO sectors contributed USD 9,220 million to the Canadian economy. The defence sector accounts for more than 25% of Canada’s MRO activities.
North America Maintenance, Repair, and Operations (MRO) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Provider:
Market Breakup by End Use:
Market Breakup by Country:
The key players in the maintenance, repair, and operations (MRO) market in North America are providing high-quality MRO services to increase the operational efficiency of the end use industries.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Provider |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the Kitchen appliances market reached an approximate value of USD 116.75 billion.
The market is expected to grow at a CAGR of 2.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 143.47 billion by 2032.
Maintenance, repair, and operations (MRO) covers all maintenance parts used to conduct repairs or to support production operations.
Preventively maintaining equipment reduces overall operating costs and lowers equipment downtime. Regular repairs and upkeep help to prevent parts and components from undergoing excessive wear and sudden failure.
The major drivers of the market include an expanding industrial activity, technological advancement in the MRO market, and an expanding aviation sector.
Key trends aiding market expansion include rising air travel and need to maintain the aircraft, presence of a large number of MRO service providers, and prevalence of predictive maintenance.
Major countries in the market are the United States of America and Canada.
The end use of maintenance, repair, and operations (MRO) is manufacturing, construction, mining, aerospace, and defence, automotive, food and beverages, pharmaceuticals, chemical, oil and gas, and others.
Key players in the market are General Electric Company, Johnson Controls International plc, Safran SA, Rolls-Royce plc, Caterpillar Inc., AAR Corp., Ferguson Enterprises, LLC, Singapore Technologies Engineering Ltd., WESCO International, Inc., Sonepar SAS, and MRC Global Inc., and others.
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