How big is the Naval Vessel Maintenance, Repair, And Overhaul Market?

The Naval Vessel Maintenance, Repair, And Overhaul Market size is expected to reach USD 58.26 billion in 2024 and grow at a CAGR of 2.09% to reach USD 64.61 billion by 2029. Read More

What is the current Naval Vessel Maintenance, Repair, And Overhaul Market size?

In 2024, the Naval Vessel Maintenance, Repair, And Overhaul Market size is expected to reach USD 58.26 billion. Read More

Who are the key players in Naval Vessel Maintenance, Repair, And Overhaul Market?

General Dynamics Corporation, Huntington Ingalls Industries Inc., Lockheed Martin Corporation, Naval Group and BAE Systems plc are the major companies operating in the Naval Vessel Maintenance, Repair, And Overhaul Market. Read More

Which is the fastest growing region in Naval Vessel Maintenance, Repair, And Overhaul Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Naval Vessel Maintenance, Repair, And Overhaul Market?

In 2024, the Asia Pacific accounts for the largest market share in Naval Vessel Maintenance, Repair, And Overhaul Market. Read More

What years does this Naval Vessel Maintenance, Repair, And Overhaul Market cover, and what was the market size in 2023?

In 2023, the Naval Vessel Maintenance, Repair, And Overhaul Market size was estimated at USD 57.04 billion. The report covers the Naval Vessel Maintenance, Repair, And Overhaul Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Naval Vessel Maintenance, Repair, And Overhaul Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Naval Vessel Maintenance, Repair, And Overhaul (MRO) Market Share

Statistics for the 2023 & 2024 Naval Vessel Maintenance, Repair, And Overhaul (MRO) market share, created by Mordor Intelligence™ Industry Reports. Naval Vessel Maintenance, Repair, And Overhaul (MRO) share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Naval Vessel Maintenance, Repair, And Overhaul (MRO) Industry

The naval vessel MRO market is fragmented, with many international and domestic players supporting navies across the world. Some of the prominent players in the market are General Dynamics Corporation, ThyssenKrupp AG, Naval Group, BAE Systems PLC, and Huntington Ingalls Industries.

Companies in the naval maintenance sector are increasingly leveraging advanced technologies to cut maintenance costs and secure lucrative, long-term contracts from global navies. A prime example is NASSCO, a subsidiary of General Dynamics, which, in January 2024, clinched a significant contract modification from the US Navy valued at around USD 438.5 million. This contract is specifically tailored for the continuous maintenance, modernization, and repair of two Arleigh Burke-class destroyers, the USS Chung-Hoon (DDG 93) and the USS James E. Williams (DDG 95). It covers these vessels' FY2024 Depot Maintenance Period, with operations set in Norfolk, Virginia, and San Diego, California. This contract, managed by the Naval Sea Systems Command, highlights these vessels' pivotal role in the US naval fleet.