Global Defense Equipment Maintenance, Repair and Overhauling Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

15 Jan, 2021

The defense equipment maintenance, repair and overhauling services market consists of sales of defense equipment maintenance, repair and overhauling services by entities (organizations, sole traders and partnerships) that provide MRO services for all kinds of air, sea and land-based defense equipment, including fighter aircraft, military helicopter, battle ships, submarines, armored vehicles, missiles and rocket launchers.

Global Defense Equipment Maintenance, Repair and Overhauling Services Market Size And Drivers:

The global defense equipment maintenance, repair and overhauling services market is expected to grow from $60.98 billion in 2020 to $62.15 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $74.31 billion in 2025 at a CAGR of 5%.
The low interest rates boosted the growth of the defense equipment maintenance, repair and overhauling services market in historic period.

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Trends In The Global Defense Equipment Maintenance, Repair and Overhauling Services Market

The defense equipment maintenance, repair and overhauling services companies are investing in 3D printing or additive manufacturing technologies to offer replacement parts for tanks, ships, fighter jets. 3D printing involves producing three dimensional objects using computer aided design model. The application of 3D printing is to create functional components including prototypes, tooling and end-use production parts. Additive manufacturing or 3D printing helps in cost-effective production of small batches of intricate parts and complex part designs that needs to be repaired, upgraded and effectively maintained. The technology provides high degree of design freedom, optimization and integration of functional features, and product customization.

Global Defense Equipment Maintenance, Repair and Overhauling Services Market Segments:

The global defense equipment maintenance, repair and overhauling services market is further segmented based on type, service type and geography.
By Type: Air based Defense Equipment MRO Services, Water based Defense Equipment MRO Services, Land based Defense Equipment MRO Services
By Service Type: Annual Maintenance Contract, Individual Works, Others
By Geography: The global defense equipment maintenance, repair and overhauling services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North America was the largest region in the global defense equipment maintenance, repair and overhauling services market, accounting for 36% of the total market.

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Defense Equipment Maintenance, Repair and Overhauling Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides defense equipment maintenance, repair and overhauling services market overviews, analyzes and forecasts market size and growth for the global defense equipment maintenance, repair and overhauling services market, defense equipment maintenance, repair and overhauling services market share, defense equipment maintenance, repair and overhauling services market players, defense equipment maintenance, repair and overhauling services market segments and geographies, defense equipment maintenance, repair and overhauling services market’s leading competitors’ revenues, profiles and market shares. The defense equipment maintenance, repair and overhauling services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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