Market Overview:
The global naval vessel MRO market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for naval vessels across the globe, coupled with the rising need for regular maintenance and repairs of these vessels. In addition, the growing number of submarines and surface warships in various countries is also contributing significantly to the growth of this market. Based on type, engine MRO dominates the global naval vessel MRO market, followed by dry dock MRO and regular maintenance MRO. Engine repair and replacement are critical activities that need to be carried out regularly in order to maintain optimum performance levels of naval vessels. Dry dock MRO is also a key segment in this market as it helps in major repairs and refurbishments of warships and submarines. On basis application, surface warships account for majority share in terms revenue generated by global Naval Vessel MRO Market followed by submarines & support vessels respectively . Surface warship are extensively used by navies across different parts world due their multi-role capabilities such as anti-air warfare (AAW), anti-surface warfare (ASuW), land attack etc which has resulted increase their demand over past few years . Submarines being expensive asset , its maintenances & repairing activity generally carried out through specialized Dockyard or contractor who have capability meet stringent requirement related safety & quality assurance norm .
Product Definition:
Naval Vessel MRO is the maintenance, repair and overhaul of naval vessels. It is important for maintaining the functionality of naval vessels and ensuring their readiness for operations.
Engine MRO:
Engine MRO is short for Maintenance, Repair, and Overhaul. It's a process of periodic maintenance and inspection to keep a vessel in good working condition. The process includes components such as machinery, systems & equipment maintenance; hull cleaning; component repair (machinery, systems & equipment); dry-docking (inspect/service) and lubrication replenishment.
Dry Dock MRO:
Dry dock MRO is a facility where ships are docked for maintenance and repair work. It is also known as shipyard or naval base. The dry dock facilities have the necessary equipment to perform maintenance, repair, & overhaul (MRO) operations on vessels; some of them include slipway/docking stations with associated cranes & conveyors, specialized workshops with all the necessary equipment and skilled workforce, material storage facilities among others.
Application Insights:
The surface warship application segment led the market and accounted for more than a 38% share of the global revenue in 2017. The segment is driven by growing demand for vessels from governments, defense agencies, and marine industries across the globe. Surface warships require frequent maintenance as compared to their counterparts; this factor has boosted MRO services for these types of vessels significantly over the past few years.
Surface warships are generally large, expensive assets; as a result of which they attract a lot of attention from potential buyers during international maritime trade activities. This has resulted in increased demand for routine maintenance services at an early stage to avoid any type of damage or corrosion that may occur to hulls over time due to exposure to seawater and saltwater spray while at sea or when docked at an overseas base port.
Regional Analysis:
Asia Pacific naval vessel MRO market is expected to grow at the highest CAGR of XX% over the forecast period, owing to rapid expansion and modernization of its surface fleet as well as submarines. The Indian government has planned to procure new aircraft for its carrier air wing and coastal defense vessels under the National Defense Authorization Act (NDAA) 2016, which is anticipated to drive regional growth over the next eight years.
The North American naval vessel MRO market was valued at USD X million in 2017 and is projected to reach USD X million by 2030 growing at a CAGR of XX% during the forecast period due to increasing demand for nuclear-powered submarines in U.S.
Growth Factors:
- Increasing demand for naval vessels for defense and security purposes
- Proliferation of advanced naval vessel designs and technologies
- Growing number of navies across the world
- Rising focus on maritime security
- Increased spending on naval vessel modernization programs
Scope Of The Report
Report Attributes
Report Details
Report Title
Naval Vessel MRO Market Research Report
By Type
Engine MRO, Dry Dock MRO, Regular Maintenance MRO, Component MRO, Naval Vessel MR
By Application
Surface Warship, Submarines, Support Vessels
By Companies
BAE Systems, General Dynamics, Huntington Ingalls Industries, Northrop Grumman, Lockheed Martin, Raytheon, URS Corporation, Saab, Naval Vessel MR
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Naval Vessel MRO Market Report Segments:
The global Naval Vessel MRO market is segmented on the basis of:
Types
Engine MRO, Dry Dock MRO, Regular Maintenance MRO, Component MRO, Naval Vessel MR
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Surface Warship, Submarines, Support Vessels
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BAE Systems
- General Dynamics
- Huntington Ingalls Industries
- Northrop Grumman
- Lockheed Martin
- Raytheon
- URS Corporation
- Saab
- Naval Vessel MR
Highlights of The Naval Vessel MRO Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Engine MRO
- Dry Dock MRO
- Regular Maintenance MRO
- Component MRO
- Naval Vessel MR
- By Application:
- Surface Warship
- Submarines
- Support Vessels
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Naval Vessel MRO Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Naval Vessel MRO is a facility that provides maintenance, repair and overhaul (MRO) services for naval vessels. These facilities are typically located on military bases or ports, and offer a wide range of services including ship repairs, engine repairs, aircraft maintenance, and more.
Some of the major players in the naval vessel mro market are BAE Systems, General Dynamics, Huntington Ingalls Industries, Northrop Grumman, Lockheed Martin, Raytheon, URS Corporation, Saab, Naval Vessel MR.
The naval vessel mro market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Naval Vessel MRO Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Naval Vessel MRO Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Naval Vessel MRO Market - Supply Chain
4.5. Global Naval Vessel MRO Market Forecast
4.5.1. Naval Vessel MRO Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Naval Vessel MRO Market Size (000 Units) and Y-o-Y Growth
4.5.3. Naval Vessel MRO Market Absolute $ Opportunity
5. Global Naval Vessel MRO Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Naval Vessel MRO Market Size and Volume Forecast by Type
5.3.1. Engine MRO
5.3.2. Dry Dock MRO
5.3.3. Regular Maintenance MRO
5.3.4. Component MRO
5.3.5. Naval Vessel MR
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Naval Vessel MRO Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Naval Vessel MRO Market Size and Volume Forecast by Application
6.3.1. Surface Warship
6.3.2. Submarines
6.3.3. Support Vessels
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Naval Vessel MRO Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Naval Vessel MRO Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Naval Vessel MRO Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Naval Vessel MRO Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Naval Vessel MRO Demand Share Forecast, 2019-2026
9. North America Naval Vessel MRO Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Naval Vessel MRO Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Naval Vessel MRO Market Size and Volume Forecast by Application
9.4.1. Surface Warship
9.4.2. Submarines
9.4.3. Support Vessels
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Naval Vessel MRO Market Size and Volume Forecast by Type
9.7.1. Engine MRO
9.7.2. Dry Dock MRO
9.7.3. Regular Maintenance MRO
9.7.4. Component MRO
9.7.5. Naval Vessel MR
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Naval Vessel MRO Demand Share Forecast, 2019-2026
10. Latin America Naval Vessel MRO Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Naval Vessel MRO Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Naval Vessel MRO Market Size and Volume Forecast by Application
10.4.1. Surface Warship
10.4.2. Submarines
10.4.3. Support Vessels
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Naval Vessel MRO Market Size and Volume Forecast by Type
10.7.1. Engine MRO
10.7.2. Dry Dock MRO
10.7.3. Regular Maintenance MRO
10.7.4. Component MRO
10.7.5. Naval Vessel MR
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Naval Vessel MRO Demand Share Forecast, 2019-2026
11. Europe Naval Vessel MRO Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Naval Vessel MRO Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Naval Vessel MRO Market Size and Volume Forecast by Application
11.4.1. Surface Warship
11.4.2. Submarines
11.4.3. Support Vessels
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Naval Vessel MRO Market Size and Volume Forecast by Type
11.7.1. Engine MRO
11.7.2. Dry Dock MRO
11.7.3. Regular Maintenance MRO
11.7.4. Component MRO
11.7.5. Naval Vessel MR
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Naval Vessel MRO Demand Share, 2019-2026
12. Asia Pacific Naval Vessel MRO Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Naval Vessel MRO Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Naval Vessel MRO Market Size and Volume Forecast by Application
12.4.1. Surface Warship
12.4.2. Submarines
12.4.3. Support Vessels
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Naval Vessel MRO Market Size and Volume Forecast by Type
12.7.1. Engine MRO
12.7.2. Dry Dock MRO
12.7.3. Regular Maintenance MRO
12.7.4. Component MRO
12.7.5. Naval Vessel MR
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Naval Vessel MRO Demand Share, 2019-2026
13. Middle East & Africa Naval Vessel MRO Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Naval Vessel MRO Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Naval Vessel MRO Market Size and Volume Forecast by Application
13.4.1. Surface Warship
13.4.2. Submarines
13.4.3. Support Vessels
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Naval Vessel MRO Market Size and Volume Forecast by Type
13.7.1. Engine MRO
13.7.2. Dry Dock MRO
13.7.3. Regular Maintenance MRO
13.7.4. Component MRO
13.7.5. Naval Vessel MR
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Naval Vessel MRO Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Naval Vessel MRO Market: Market Share Analysis
14.2. Naval Vessel MRO Distributors and Customers
14.3. Naval Vessel MRO Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. BAE Systems
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. General Dynamics
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Huntington Ingalls Industries
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Northrop Grumman
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Lockheed Martin
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Raytheon
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. URS Corporation
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Saab
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Naval Vessel MR
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
