North America was the largest region in the global Défense equipment maintenance, repair, and overhauling services market, accounting for 36% of the market in 2019. The Asia Pacific was the second largest region accounting for 29% of the global Défense equipment maintenance, repair, and overhauling services market. Africa was the smallest region in the global defence equipment maintenance, repair, and overhauling services market.
Robotics and Unmanned Aerial Vehicles (UAVs) are widely used in the Aircraft Parts Manufacturing, Repair & Maintenance market. These help in automated inspections by capturing images, comparing them against the respective 3D models (digital twins) and reporting any damage which requires further inspection or repairs. It also helps the companies to shorten inspections by several hours and work can be done more accurately and safely. Companies that are actively making civil UAV’s include DJI, Parrot, and 3DRobotics.
The Défense equipment maintenance, repair and overhauling services market consists of sales of defense equipment maintenance, repair, and overhaul services and related goods by entities (organizations, sole traders, and partnerships) that provide MRO services for all kinds of air, sea, and land-based defense equipment, including fighter aircraft, military helicopter, battleships, submarines, armored vehicles, missiles, and rocket launchers.
The global defense equipment maintenance, repair, and overhauling services market is expected to decline from USD 59.7 billion in 2019 to USD 55.3 billion in 2020 at a compound annual growth rate (CAGR) of -7.5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 3% from 2021 and reach USD 59 billion in 2023.
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Ankur Gupta, Head Marketing & Communications