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Global Military Aviation MRO Market 2018-2028
August 9, 2018 | PRNewswireEstimated reading time: 1 minute
The expenditure on military aviation MRO sector is expected to be driven by internal and external security threats, aging military fleet globally, territorial disputes, and modernization initiatives undertaken by the Armed Forces across the world.
The Global Military Aviation MRO Market 2018-2028 report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military aviation MRO, key market trends, and challenges faced by industry participants.
The military aviation MRO market is estimated to value US$22.9 billion in 2018, and is projected to grow at a CAGR of 2.60% to value $29.6 billion by 2028 and cumulatively value $268.5 billion.
The market is expected to be dominated by the Multi-role Aircraft MRO segment, which will account for 58.6% of the market, followed by Transport Aircraft MRO and Multi-mission Helicopter MRO with shares of 24.3% and 10.4% respectively.
During the forecast period, North America region is projected to account for a share of 72.6%. North America will be followed by Asia Pacific, which is projected to account for 12% of the global market. Europe is expected to account for the third largest market with a total share of 9.9%.
The Middle East, Latin America and Africa are projected to capture 4.2%, 0.9%, and 0.4% of the global military aviation MRO market respectively, over the forecast period.
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