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US 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.

ID: MRFR/A&D/11233-US | 100 Pages | Author: Garvit Vyas| December 2023

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US Naval Vessels MRO Market Overview

North America's dominance in the MRO market can be attributed to its strong naval presence and investments in defense. The region has a significant number of naval vessels that require regular maintenance, repairs, and overhauls to ensure their operational readiness and longevity. North America is expected to have the largest market for naval vessel maintenance, repair, and overhaul (MRO) in the coming years. This growth is driven by the presence of big MRO providers like General Dynamics Corporation, Huntington Ingalls Industries, Inc., and Lockheed Martin Corporation. These companies play a significant role in the market's expansion. In 2018, the United States had the biggest share of the market with 83.29%, and its market value was USD 2,642.6 million. The market is expected to grow at a rate of 6.75% during the forecast period. On the other hand, the Canadian market was valued at USD 530.2 million and is projected to have a higher growth rate of 7.56%. These numbers indicate the size and growth potential of the naval vessel MRO markets in both the US and Canada. The US market is already quite large, with a significant market share and high value. However, despite having a smaller market size, the Canadian market is expected to experience a faster growth rate. The projected growth rates in both countries suggest that there are opportunities for companies in the naval vessel MRO industry to expand their operations and capture a larger market share. As the US and Canadian naval forces continue to invest in maintenance and repair services for their vessels, the demand for MRO services is expected to increase, creating a favorable market environment for industry players. In conclusion, MRO services are crucial for sustaining and extending the life of naval vessels. The increasing use of UUVs is expected to drive the growth of the MRO market. North America dominates the market, followed by the Asia-Pacific region and Europe.

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