Naval Vessel MRO Market Research Report Information By Vessel Type (Corvettes, Submarines, Destroyers, Frigates And Others), By MRO Type (Component MRO, Engine MRO, Regular Maintenance And Dry Dock MRO) By MRO Service (Maintenance & Repair (MR) And Overhaul) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030.

Global Naval Vessel MRO Market Overview

Naval Vessel MRO Market Size was valued at USD 8.1 billion in 2022. The naval vessel MRO market industry is projected to grow from USD 8.5 Billion in 2023 to USD 12.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.03% during the forecast period (2023 - 2030). Increased investments in military vessel MRO systems and outsourcing of naval vessel MRO services are the key market drivers enhancing the market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Naval Vessel MRO Market Trends

• Growing need for MRO service outsourcing drives market growth.

The market CAGR for MRO services for naval vessels is being propelled by rising demand for these services. Outsourcing MRO services increases efficiency while also significantly reducing maintenance costs. This opens doors for private companies to work with governments and provide MRO services for naval vessels. This is anticipated to encourage expansion of the MRO market for naval vessels in the ensuing years. Furthermore, as a more affordable alternative to purchasing new naval vessel fleets, many nations are focusing on MRO, retrofits, and upgrades for their naval vessels.

This is one of the main factors that is anticipated to encourage the growth of the MRO market for naval vessels in the upcoming years. Additionally, it is anticipated that demand for repair and maintenance services will rise significantly as the naval fleet ages.

The MRO market for naval vessels will further benefit from this in the upcoming years. Additionally, the main market players are concentrating on introducing cutting-edge technologies to prolong the lifespan of naval vessels. Over the course of the assessment period, this will further increase the demand for naval vessel MRO services. Naval ships typically require routine maintenance. Unfortunately, this drives up maintenance costs. A naval vessel's initial maintenance and repair costs are typically on the higher side. Additionally, it is essential to have skilled labour available to carry out the necessary maintenance tasks.

Due to the burden this place on service providers, the future expansion of the naval vessel MRO market may be hindered. Using 3D printing technology to convert electronics into 3D surfaces is a growing trend in the industry. As a result, the naval vessel MRO market revenue is increasing.

Naval Vessel MRO Market Segment Insights

Naval Vessel MRO Vessel Type Insights

The naval vessel MRO market segmentation, based on Vessel type includes corvettes, submarines, destroyers, frigates and others.  Destroyers are swift, nimble, long-endurance warships designed to protect larger ships in a fleet, convoy, or battle group against powerful short-range assaults. Destroyers are the navy's workhorses. They participate in a number of activities. Anti-air, anti-surface, anti-submarine, strike, naval gunfire support, ballistic missile defense, you name it. Because of their ability to fight and protect themselves in diverse warfare zones, they can operate independently as well as in a defensive screen with other ships. They may transport helicopters in order to boost mission capabilities and effective range.

Naval Vessel MRO Type Insights

The component MRO, engine MRO, regular maintenance, and dry dock MRO segments of the worldwide naval vessel MRO market segmentation have been divided ly. MRO for dry docks held a substantial market share, Dry docking has been used for many years to repair ships. It is a process for creating, caring for, and repairing ships in a location known as the "lock." In terms of simplicity, a lock is comparable to a "garage" used for ship maintenance. The sole distinction is the building of a lock to position the beach for simpler ship handling and seawater drainage.

 Naval Vessel MRO Service Insights

The naval vessel MRO market data, based on service, includes maintenance & repairs (MR), overhaul.  The main purpose of a dry dock is to expose the underwater parts for inspection, maintenance & repairs (MR). In order to facilitate better examination and maintenance, the ship that requires repair is maneuvered into the lock, the gates are closed, and all seawater that has accumulated inside the ship is evacuated.

The major purpose of a dry dock is to efficiently execute repairs and maintenance on parts that are constantly in contact with marine water but are out of sight until the water is removed. Vessels must undergo this procedure if dry docking is considered necessary by the Classification Society. The most common dry-docking techniques are the floating dock and the graving dock, which are among the five main dry-docking methods that are currently known.

Figure1 Naval Vessel MRO Market, by service, 2022 & 2030  (USD billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Naval Vessel MRO Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America is likely to dominate the naval vessel MRO market. Maritime infrastructure serves scientific, commercial, and national security purposes. Ship construction, port operations, maritime engineering, naval force projection, and oceanographic research are all inextricably linked.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2 NAVAL VESSEL MRO T MARKET SHARE BY REGION 2022 (%)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s naval vessel MRO market accounts for the second-largest market share due to rising defense investment and the modernization and armament of naval vessels in this region. Further, the German naval vessel MRO market held the largest market share, and the UK naval vessel MRO market was the fastest-growing market in the European region

The Asia Pacific Naval Vessel MRO Market is expected to grow at the fastest CAGR from 2023 to 2030. This is due to increased demand for marine vessel maintenance services throughout the region as sea commercial activities develop can help the naval vessel markets. Moreover, China’s naval vessel MRO market held the largest market share, and the Indian naval vessel MRO market was the fastest-growing market in the Asia Pacific region.

Naval Vessel MRO Key Market Players & Competitive Insights

Leading market players are investing a lot in R&D to diversify their product lines, which will fuel the growth of the naval vessel MRO market. Releases of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other businesses are all significant market developments. Participants in the market are also taking a variety of strategic steps to broaden their reach internationally. If the MRO market for naval vessel is to expand and prosper in a more competitive and difficult market climate, it must offer reasonably priced items.

Local manufacturing to minimize operational costs is one of the key business strategies used by manufacturers in the worldwide naval vessel MRO industry to serve customers and increase the market sector. The MRO industry for navy vessels has provided some of the most significant benefits to medicine in recent years. Major players in the naval vessel MRO industry, including BAE Systems (UK), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), and others, are seeking to expand their customer bases in the  untapped naval vessel MRO market.

MBDA is a European multinational missile development and manufacturer. It was formed in December 2001 as a result of the amalgamation of the major French, British, and Italian missile businesses. These were the missile divisions of Aérospatiale-Matra (later merged with EADS and become Airbus), BAE Systems, and Finmeccanica (now Leonardo). "MBDA" is an abbreviation for the names of the three missile companies Matra, BAe Dynamics, and Alenia. The headquarters of the corporation are in Le Plessis-Robinson, France. In July 2021, MBDA UK was given an 11-year contract to integrate the Common Anti-Air Modular Missile, often known as Sea Ceptor, into the Sea Viper missile systems of the UK Navy's Type 45 destroyers. The upgrade will also feature the Sea Viper command and control (C2) system. The addition of CAMM to the Type 45 destroyers increases the quantity of air defense missiles by 50%.

Spike is Israeli anti-tank and anti-personnel guided missile with a tandem-charge high-explosive anti-tank (HEAT) warhead. It is in its fourth generation as of 2007. Rafael Advanced Defense Systems, an Israeli corporation, created and designed it. It is offered in three variants man-portable, vehicle-launched, and helicopter-launched. In Feb 2023, The Greek Ministerial Council for Foreign Affairs and Defense, chaired over by Prime Minister Kyriakos Mitsotakis, opted to proceed with the acquisition of SPIKE missiles from the Israeli company Rafael Advanced Defense Systems to equip the Hellenic Armed Forces. SPIKE fire-and-forget missiles, among other things, will be installed on eight military warships of two different classes.

Key Companies in the naval vessel MRO market include

• 
  BAE Systems (UK)


• General Dynamics Corporation (US)


• Lockheed Martin Corporation (US)


• Raytheon Technologies Corporation (US)


• Northrop Grumman Corporation (US)


• Saab AB (Sweden)


• Huntington Ingalls Industries Inc. (US)


• Thales Group (France)


• 
  Naval Group (France)


• Babcock International Group PLC (UK)


• Kongsberg Maritime (Norway)


• Teledyne Brown Engineering (US)


• Vouvray Acquisition Limited (UK)


• Chidambaram Shipcare Pvt. Ltd (India)

Naval Vessel MRO Market Segmentation

Naval Vessel MRO by Vessel Type Outlook

• Corvettes


• Submarines


• Destroyers


• Frigates


• others

Naval Vessel MRO By MRO Type Outlook

• Component MRO


• Engine MRO


• Regular Maintenance


• Dry Dock MRO

Naval Vessel MRO Market by MRO Service Outlook

• Maintenance & Repair (MR)


• Overhaul

Naval Vessel MRO Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

 Naval Vessel MRO Industry Developments

For instance,In December 2020, - Boeing, a well-known aircraft and telecom solutions supplier, has struck a two-year agreement with APA (Asia Pacific Aerospace), an Australian SME that provides MRO services. The agreement calls for General Electric (GE), an American multinational corporation that operates in the energy and electricity sectors, to supply spare parts for T700 series engines.

For instance,In December 2021, The US State Department has approved a possible contract with the Greek government for the upgrade of four MEKO Hydra-class frigates valued around USD 2.5 billion. Upgrades would entail, among other things, the modernisation of weapon systems, combat management systems, and sonar.

For instance,In August 2021, The US Navy awarded numerous contracts totaling up to USD 2.76 billion for the repair of Littoral Combat Ships (LCS). BAE Systems, Fincantieri Marine Systems North America, Austal USA, Colonna's Shipyard Inc., East Coast Repair & Fabrication LLC, Epsilon Systems Solutions Inc., General Dynamics NASSCO ship maintenance facility, North Florida Shipyards Inc., and Tecnico Corp. were among the companies awarded contracts.