Naval Vessels MRO Market Size, Share, Growth, Trends, and Global Industry Analysis: By Vessel Type (Corvettes, Submarines, Destroyers, Frigates, Others) By MRO Type (Component MRO, Engine MRO, Regular Maintenance MRO, Dry Dock MRO, Others) By MRO Service (Maintenance & Repair (MR), Baseline Overhaul (BOH), Regular Overhaul (ROH), Complex Overhaul (COH), Integrated Logistics Overhaul (ILO), Others) and Region Forecast 2020-2031  

Naval Vessels MRO Market size was valued at US$ 58.6 billion in 2023 and growing at a CAGR of 2.4% from 2024 - 2030. The key drivers include an increase in investments, an increase in the adoption of C4ISR systems, rise in AUVs application. Maintenance-intensive vessel retirement and environmental hazards are factors that can inhibit the growth of the market. Technologies, such as the Internet of Things provide significant opportunities to the global market. The report studies market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Key stakeholders of the global market report include suppliers, manufacturers, marketers, policymakers, and service providers engaged in the global market.

Naval Vessels Mro Market Key Developments

• In February 2019, BAE Systems signed a contract worth US$ 114.5 million with the US Navy to provide maintenance and modernization services for the US Navy's guided-missile destroyer, USS Bulkeley (DDG 84).
• In January 2019, BAE Systems signed a contract worth US$ 78.8 million with the US Navy to provide maintenance and modernization services for the US Navy's USS Shoup (DDG 86), a guided-missile destroyer (DDG).