Global Military Aircraft MRO Market Worth USD 189.8 bn by 2031

Thursday 17 August 2023, Amsterdam

The Military Aircraft MRO market is a by-product of the military aircraft market. Ownership of military aircraft comes with maintenance, repair and overhaul costs during the lifespan of the aircraft. Thus, the dynamics of the market are directly proportional to the aircraft ownership of the forces around the world. Large and growing aircraft fleets, along with aircraft upgrade programmes for ageing aircraft and Industry 4.0 technologies, have the potential to increase the growth as well as expand revenue of the market. The global market is projected to grow to USD 189.8 billion by 2031, at a CAGR of 3.51% from 2023 to 2031.
 
Artificial intelligence (AI), machine learning (ML), blockchain, internet of things (IoT), cloud computing, robots, additive manufacturing, augmented reality (AR), Virtual reality (VR), predictive and prescriptive maintenance are the technological innovations making MRO services very effective and driving the demand for them. These technologies improve automation, efficiency, information gathering, and training of highly specialised maintenance technicians. The innovations enable seamless operations of the MRO service industry, from training to actual maintenance work.

There has been an increased spending and investment on military aircraft platforms around the world. The higher amount of procurement and new development programmes are driving the market. Additionally, the midlife upgrades and modernisation programmes are also expected to contribute to the growth of demand for MRO services.

Market Forecast’s report, the Military Aircraft Maintenance, Repair & Overhaul (MRO) - Technology and Market Forecast to 2031, provides a detailed analysis of the market, focusing on the current and future technologies, the requirements and the opportunities of a cumulative market worth in excess of US$ 1,502 billion over the forecasted period.

The Military Aircraft MRO study is an important tool for those that want to enter the market and position themselves against the competition at this early stage. It is also a must for business developers that want to gain an insight of the upcoming technologies, the defence budgets and spending patterns around the world.