What are the latest figures on the defense equipment maintenance, repair and overhauling services market’s size and projected CAGR?
The defense equipment maintenance, repair and overhauling services market size has grown strongly in recent years. It will grow from $80.87 billion in 2024 to $85.98 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth in defense budget allocation, operational requirements, equipment lifecycle management, geopolitical factors, strategic partnerships.
The defense equipment maintenance, repair and overhauling services market size is expected to see strong growth in the next few years. It will grow to $110.09 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to focus on cybersecurity, increased complexity of equipment, sustainability and environmental concerns, rising threats and security challenges, investments in training and skills development. Major trends in the forecast period include integration of digital technologies, technological advancements, predictive maintenance technologies, outsourcing of maintenance services, condition-based maintenance (CBM).
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How have varous drivers impacted the growth of the defense equipment maintenance, repair and overhauling services market?
During the forecast period, developed countries will experience low interest rates as monetary authorities reduce interest rates to stimulate economic growth and prevent deflation. This led to the flow of cheap money for investment in these economies. Low interest rates encouraged borrowing for investment and helped drive spending. For instance, in September 2023, European Central Bank (ECB), a Germany-based institution within the European Union, have lowered their inflation forecast to 5.1% for 2023, 2.9% for 2024, and 2.2% for 2025, while projecting euro area economic growth at 0.7% in 2023, 1.0% in 2024, and 1.5% in 2025. Therefore, lower interest rates will boost the growth of the defense equipment maintenance, repair, and overhauling services market in the forecast period.
What are the primary segments of the defense equipment maintenance, repair and overhauling services market?
The defense equipment maintenance, repair and overhauling services market covered in this report is segmented –
1) By Type: Air Based Defense Equipment MRO Services, Water Based Defense Equipment MRO Services, Land Based Defense Equipment MRO Services
2) By Service Type: Annual Maintenance Contract, Individual Works, Others
3) By End User: Commercial Aviation, Business And General Aviation, Military Aviation, Others
Subsegments:
1) By Air-Based Defense Equipment MRO Services: Aircraft Maintenance, Helicopter Overhaul, Unmanned Aerial Vehicle (UAV) Services
2) By Water-Based Defense Equipment MRO Services: Naval Ship Maintenance, Submarine Overhaul, Maintenance Of Other Marine Vessels
3) By Land-Based Defense Equipment MRO Services: Ground Vehicle Maintenance, Armored Vehicle Overhaul, Maintenance Of Artillery Systems
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Which firms are leading the defense equipment maintenance, repair and overhauling services market?
Major companies operating in the defense equipment maintenance, repair and overhauling services market include United Technologies Corporation, Raytheon Co., Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corp., Honeywell International Inc., BAE Systems plc, Boeing Defense Space & Security, Safran SA, Thales Group, L3Harris Technologies Inc., Rolls-Royce Holdings plc, Leidos Holdings Inc., Fluor Corporation, AECOM, Textron Inc., Huntington Ingalls Industries Inc., Science Applications International Corporation, Rheinmetall AG, KBR Inc., CACI International Inc., Elbit Systems Ltd., Hindustan Aeronautics Ltd., Leonardo S.p.A., Aerojet Rocketdyne Holdings Inc., AAR Corp., Kratos Defense & Security Solutions Inc., AM General, Aeronautical Systems Inc.
How will industry trends affect the trajectory of the defense equipment maintenance, repair and overhauling services market?
Defense equipment maintenance, repair, and overhauling companies are investing in 3D printing or additive manufacturing technologies to offer replacement parts for tanks, ships, and fighter jets. 3D printing involves producing three-dimensional objects using a 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 the cost-effective production of small batches of intricate parts and complex part designs that need to be repaired, upgraded, and effectively maintained. The technology provides a high degree of design freedom, optimization and integration of functional features, and product customization. For instance, in September 2022, the UK’s Ministry of Defense (MOD) announced the launch of Project TAMPA, an experimental new £5 million program to develop 3D-printed parts for weapons and other military equipment on demand. In order to reduce lengthy lead times for defense inventory, MOD wants to be able to share print files over secure defense networks and quickly produce parts using additive manufacturing (AM), or 3D printing.
Which geographic trends are shaping the defense equipment maintenance, repair and overhauling services market, and which region has the highest market share?
The countries covered in the defense equipment maintenance, repair and overhauling services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Does The Defense Equipment Maintenance, Repair and Overhauling Services Market Report 2025 Offer?
The defense equipment maintenance, repair and overhauling services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The defense equipment maintenance, repair, and overhauling services refer to providing MRO services to all kinds of air, sea, and land-based defense equipment, including fighter aircraft and military helicopters.
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