The Global Naval Vessels MRO Market 2012–2022
In 2012, the naval vessels MRO market valued US$4.7 billion and is expected to value US$12.1 billion
by 2022, representing a CAGR of 9.68% during the forecast period. The demand for naval vessel
MRO services is anticipated to be driven by ageing naval vessels globally, technological innovations
in the industry, internal and external security threats, territorial disputes, and modernization
initiatives undertaken by navies across the world. Cumulatively, the global market for military MRO
is expected to value US$85.1 billion during the forecast period. The market is expected to be
dominated by North America, followed by Asia Pacific and Europe. Despite the economic crisis in
Europe, Europe’s share of the global market is projected to increase during the forecast period,
albeit marginally due to the scheduled deployment of various modernization programs that have
been initiated in previous years.
In terms of categories, the destroyers MRO market is expected to account for the highest proportion
of spending in the naval vessels MRO market, followed by the market for frigates, submarines, and
aircraft carriers MRO. The market for destroyers MRO is anticipated to be bigger than other
categories because of the increasing age of the global destroyer fleet including cruisers and
amphibious ships. This is the reason that countries around the world are investing significantly to
maintain and overhaul their naval vessels fleet. Furthermore, in the face of global budget cuts,
defense departments are now looking to terminate various procurement programs and focus more
on maintaining, repairing, and overhauling the existing fleet of naval vessels.
Global Naval Vessels MRO Market (US$ Billion), 2012–2022
6.7 6.5 7.0
5.7 6.2 6.1
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
The Naval Vessels MRO market consists of four categories: Destroyers MRO, Frigates MRO,
Submarines MRO and Aircraft Carriers MRO. The value of the market is expected to increase at a
CAGR of 9.68% during the forecast period.
This report is the result of SDI’s extensive market and company research covering the global naval
vessels MRO industry. It provides detailed analysis of both historic and forecast global industry
values, factors influencing demand, the challenges faced by industry participants, analysis of the
leading companies in the industry, and key news.
Reasons to buy
Provides detailed analysis of the market for naval vessels MRO during 2012–2022, including
the factors that influence why countries are investing or cutting defense expenditure. It
provides detailed expectations of growth rates and projected total expenditure.
Covers the main providers in the industry: Lockheed Martin, BAE Systems, SAIC, Northrop
Grumman, General Dynamics, Elbit Systems, Abu Dhabi Ship Building, Kongsberg, Saab,
Huntington Ingalls Industries, Teledyne Brown Engineering, DCNS, Babcock International
Group, URS Corporation.
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Published: August 2012
No. of Pages: 155
Price: Single User License: US$4800 Corporate User License: US$14400