Cumulatively, the global market for military MRO is expected to value US$85.1 billion during the forecast period. The market is expected to be dominated by North America, followed by Asia Pacific and Europe.
Dallas, Texas (PRWEB) August 22, 2012
A new report ‘The Global Naval Vessels MRO Market 2012–2022’ says in 2012, the naval vessels MRO market valued US$4.7 billion and is expected to value US$12.1 billion by 2022, representing a CAGR of 9.68% during the forecast period. The demand for naval vessel MRO services is anticipated to be driven by ageing naval vessels globally, technological innovations in the industry, internal and external security threats, territorial disputes, and modernization initiatives undertaken by navies across the world. Cumulatively, the global market for military MRO is expected to value US$85.1 billion during the forecast period. The market is expected to be dominated by North America, followed by Asia Pacific and Europe. Despite the economic crisis in Europe, Europe’s share of the global market is projected to increase during the forecast period, albeit marginally due to the scheduled deployment of various modernization programs that have been initiated in previous years.
In terms of categories, the destroyers MRO market is expected to account for the highest proportion of spending in the naval vessels MRO market, followed by the market for frigates, submarines, and aircraft carriers MRO. The market for destroyers MRO is anticipated to be bigger than other categories because of the increasing age of the global destroyer fleet including cruisers and amphibious ships. This is the reason that countries around the world are investing significantly to maintain and overhaul their naval vessels fleet. Furthermore, in the face of global budget cuts, defense departments are now looking to terminate various procurement programs and focus more on maintaining, repairing, and overhauling the existing fleet of naval vessels.
This report is the result of SDI’s extensive market and company research covering the global naval vessels MRO industry. It provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of the leading companies in the industry, and key news.
Buy your copy of this report @ http://www.reportsnreports.com/reports/185883-the-global-naval-vessels-mro-market-2012-2022.html.
Reasons to buy
- Provides detailed analysis of the market for naval vessels MRO during 2012–2022, including the factors that influence why countries are investing or cutting defense expenditure. It provides detailed expectations of growth rates and projected total expenditure.
- Covers the main providers in the industry: Lockheed Martin, BAE Systems, SAIC, Northrop Grumman, General Dynamics, Elbit Systems, Abu Dhabi Ship Building, Kongsberg, Saab, Huntington Ingalls Industries, Teledyne Brown Engineering, DCNS, Babcock International Group, URS Corporation.
- 57 Tables, 89 Figures covering the global Naval Vessels MRO industry, information on its leading players and more.