Market Research Logo

Global Naval Vessels MRO Market 2019-2023

Global Naval Vessels MRO Market 2019-2023

Global Naval Vessels MRO Market: About this market

Naval vessels MRO services include scheduled and unscheduled maintenance and repairs of naval vessels. Technavio’s naval vessels MRO market analysis considers sales from aircraft carriers, submarines. destroyers, frigates, amphibious ships, and other vessels. Our analysis also considers the sales of naval vessels MRO in APAC, Europe, MEA, North America, and South America. In 2018, the aircraft carriers segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increased cost of maintenance due to bigger size will play a significant role in the aircraft carriers segment to maintain its market position. Also, our global naval vessels MRO market report also looks at factors such as aging fleet and modernization programs of leading naval forces, growing size of naval fleets, and increasing focus on keeping naval fleets combat-ready. However, insufficient capacity to fulfill the demand for MRO services, time and cost overruns in MRO contracts create resource crunch, and cancelation or delays in the acquisition of vessels by naval forces may hamper the growth of the naval vessels MRO industry over the forecast period.

Global Naval Vessels MRO Market: Overview

Increasing focus on keeping naval fleets combat-ready

Maritime claims and terrestrial disputes across the world have led to increasing development and acquisition of naval vessels such as submarines, aircraft carriers. Increasing global conflicts and rivalries may result in a sea-borne attack by an aggressor country, hence global superpowers are focusing on modernizing and upgrading their naval fleet and keeping them combat-ready. The growing focus of countries to keep their naval fleet combat-ready will lead to the expansion of the global naval vessels MRO market at a CAGR of over 6% during the forecast period.

Growing MRO cost leading to the emergence of Asia as a hub of naval vessel maintenance

High labor costs are leading to the emergence of developing countries in Asia, such as Sri Lanka, India, and Vietnam, as preferred hubs for the maintenance of naval vessels. Asia leads the world in terms of shipbuilding activities. The infrastructure used for shipbuilding is also used for ship maintenance and modernization. Thus, Asia is expected to be a preferred destination for the maintenance, repair, modernization, and upgrades of naval vessels during the forecast period. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global naval vessels MRO market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global naval vessels MRO market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading naval vessels MRO companies that include BAE Systems Plc, General Dynamics Corp., Huntington Ingalls Industries Inc., Lockheed Martin Corp., and Northrop Grumman Corp.

Also, the naval vessels MRO market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


Companies Mentioned

BAE Systems Plc, General Dynamics Corp., Huntington Ingalls Industries Inc., Lockheed Martin Corp., and Northrop Grumman Corp.

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global aerospace and defense market
      • Table Segments of global aerospace and defense market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ billions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by type of vessel
    • Table Type of vessel - Market share 2018-2023 (%)
    • Comparison by type of vessel
      • Table Comparison by type of vessel
    • Aircraft carriers - Market size and forecast 2018-2023
      • Table Aircraft carriers - Market size and forecast 2018-2023 ($ billions)
      • Table Aircraft carriers - Year-over-year growth 2019-2023 (%)
    • Submarines - Market size and forecast 2018-2023
      • Table Submarines - Market size and forecast 2018-2023 ($ billions)
      • Table Submarines - Year-over-year growth 2019-2023 (%)
    • Destroyers - Market size and forecast 2018-2023
      • Table Destroyers - Market size and forecast 2018-2023 ($ billions)
      • Table Destroyers - Year-over-year growth 2019-2023 (%)
    • Frigates - Market size and forecast 2018-2023
      • Table Frigates - Market size and forecast 2018-2023 ($ billions)
      • Table Frigates - Year-over-year growth 2019-2023 (%)
    • Amphibious ships - Market size and forecast 2018-2023
      • Table Amphibious ships - Market size and forecast 2018-2023 ($ billions)
      • Table Amphibious ships - Year-over-year growth 2019-2023 (%)
    • Other vessels - Market size and forecast 2018-2023
      • Table Other vessels - Market size and forecast 2018-2023 ($ billions)
      • Table Other vessels - Year-over-year growth 2019-2023 (%)
    • Market opportunity by type of vessel
      • Table Market opportunity by type of vessel
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ billions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ billions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ billions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ billions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ billions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Approximate changes in global defense spending during 2013-2018
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Increasing focus on expediting execution of MRO services
    • Growing MRO cost leading to emergence of Asia as hub of naval vessel maintenance
    • Increasing M&A in global shipbuilding industry
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • BAE Systems Plc
      • Table BAE Systems Plc - Vendor overview
      • Table BAE Systems Plc - Business segments
      • Table BAE Systems Plc - Organizational developments
      • Table BAE Systems Plc - Geographic focus
      • Table BAE Systems Plc - Segment focus
      • Table BAE Systems Plc - Key offerings
    • General Dynamics Corp.
      • Table General Dynamics Corp. - Vendor overview
      • Table General Dynamics Corp. - Business segments
      • Table General Dynamics Corp. - Organizational developments
      • Table General Dynamics Corp. - Geographic focus
      • Table General Dynamics Corp. - Segment focus
      • Table General Dynamics Corp. - Key offerings
    • Huntington Ingalls Industries Inc.
      • Table Huntington Ingalls Industries Inc. - Vendor overview
      • Table Huntington Ingalls Industries Inc. - Business segments
      • Table Huntington Ingalls Industries Inc. - Organizational developments
      • Table Huntington Ingalls Industries Inc. - Segment focus
      • Table Huntington Ingalls Industries Inc. - Key offerings
    • Lockheed Martin Corp.
      • Table Lockheed Martin Corp. - Vendor overview
      • Table Lockheed Martin Corp. - Business segments
      • Table Lockheed Martin Corp. - Organizational developments
      • Table Lockheed Martin Corp. - Geographic focus
      • Table Lockheed Martin Corp. - Segment focus
      • Table Lockheed Martin Corp. - Key offerings
    • Northrop Grumman Corp.
      • Table Northrop Grumman Corp. - Vendor overview
      • Table Northrop Grumman Corp. - Business segments
      • Table Northrop Grumman Corp. - Organizational developments
      • Table Northrop Grumman Corp. - Geographic focus
      • Table Northrop Grumman Corp. - Segment focus
      • Table Northrop Grumman Corp. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook