Military Aviation Leading the Way to record a CAGR of 2.88% and reach USD 49.22 billion by 2030
- The military aviation MRO (Maintenance, Repair, and Overhaul) market is projected to record a CAGR of 2.88% and reach USD 49.22 billion by 2030.
- Lockheed Martin Corporation, the Boeing Company, Pratt & Whitney (Raytheon Technologies Corporation), BAE Systems PLC, Safran, and Northrop Grumman Corporation are some of the largest players in the market.
- By MRO type, the engine MRO segment is estimated to witness the highest growth over the forecast period of 2.99%
Read our related report on the Aircraft Engine MRO market
Key Contracts of MRO companies in Aviation Arena – Competitors Corridor
- In January 2022, Bell announced that the company completed the first nacelle improvements modification of an Air Force CV-22 Osprey. The upgrade is part of Bell and Boeing’s contract to upgrade the wiring components in the nacelles and modify the structure to improve maintainability.
- In November 2021, GAL, a UAE-based integrated aircraft sustainment solutions provider, signed a long-term Depot-Level Maintenance (DLM) service contract with AMMROC, a provider of military maintenance, repair, and overhaul (MRO) in the region. Under the agreement, AMMROC will support GAL to provide aircraft, engine, and component depot-level maintenance services for its UAE Air Force and Air Defence (AFAD) customers.
- In June 2021, Saab signed an agreement with FMV regarding full support for Helikopter 15. The agreement is valid from January 2022 to December 2026 with additional option years up to December 2030. In conjunction with the agreement, an initial order valued at SEK 550 million will be registered.
- In April 2021, Elbit Systems was awarded a contract worth approximately USD 1.65 billion to establish and operate the International Flight Training Center of the Hellenic Air Force. Under the contract, Elbit Systems will supply new M-346 training aircraft and maintain the entire training fleet, comprised of dozens of M-346 and T-6 training aircraft, for approximately 20 years.
MRO Companies Touching the Skies with Strategic Agreements
- In July 2021, Global Turbine Asia (GTA) have renewed their contract with Safran Helicopter Engines to support Makila 2A of the Royal Malaysian Air Force (RMAF).
- In April 2021, MTU Aero Engines, Safran Aircraft Engines, and ITP Aero agreed to develop, manufacture and support engines to power the Next-Generation Fighter (NGF) as a part of FCAS (Future Combat Air System).
- In February 2021, Rolls-Royce and Hindustan Aeronautics Limited (HAL) collaborated to establish an Authorized Maintenance Centre (AMC) at HAL for the Adour Mk871 engines for international military customers.
