Global Naval Vessel MRO Market Size, Status and Forecast 2019-2025

Naval vessels are differentiated from civilian ships by their design and purpose. Such ships are damage resilient and armed. Naval vessels MRO is crucial for sustaining and extending the life of a vessel. It comprises maintenance, overhauls, routine checks, inspections, repairs, and modifications carried out on a vessel and their components. MRO services assure the safety and airworthiness of naval vessels.
At present, the market of Naval Vessel MRO is concentrated in the coastal countries and regions. North America, Europe and Asia – Pacific are the main regions. North America is the largest area in the world, which occupied about 35.70% in 2016. The second large area is Asia – Pacific, accounting for 31.68%.
The global leading players in this market are BAE Systems, General Dynamics, Huntington Ingalls Industries, Northrop Grumman, Lockheed Martin, Raytheon, URS Corporation, Saab and Elbit Systems. The top 5 players occupied about half of the market.
The Naval Vessel MRO split to three segments by vessel type: Surface Warship, Submarines and Support vessels. Surface Warship dominated the market with a market share of 57.50% in 2016.
In 2018, the global Naval Vessel MRO market size was 8300 million US$ and it is expected to reach 16400 million US$ by the end of 2025, with a CAGR of 8.9% during 2019-2025.

This report focuses on the global Naval Vessel MRO status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Naval Vessel MRO development in United States, Europe and China.

The key players covered in this study
BAE Systems
General Dynamics
Huntington Ingalls Industries
Northrop Grumman
Lockheed Martin
Raytheon
URS Corporation
Saab

Market segment by Type, the product can be split into
Engine MRO
Dry Dock MRO
Regular Maintenance MRO
Component MRO

Market segment by Application, split into
Surface Warship
Submarines
Support Vessels

Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America

The study objectives of this report are:
To analyze global Naval Vessel MRO status, future forecast, growth opportunity, key market and key players.
To present the Naval Vessel MRO development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.

In this study, the years considered to estimate the market size of Naval Vessel MRO are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.