Market Share of Military Aviation Maintenance, Repair, and Overhaul Industry
The market is fragmented, with numerous local and international players providing various MRO services to the existing military aircraft fleet. The major players in the military aviation MRO market are Lockheed Martin Corporation, Safran, The Boeing Company, Raytheon Technologies Corporation, and BAE Systems plc.
Strategic partnerships between the players may help them gain more contracts while expanding their reach to untapped markets in the long run. As most MRO contracts are for the long term, it could be a time-consuming process for new players to establish themselves in the market by competing with the existing ones. Artificial intelligence (AI)-based predictive maintenance technologies are also envisioned to witness mass adoption during the forecast period. Potential investments would be required to enhance the IT capabilities of MRO operators for maintenance execution, supply chain management, enhancing mobility, and adopting e-signatures. Advanced data analytics are also being used by MROs for inventory optimization to plan, stock, and optimize spares as and when required at minimal procurement costs. Such tools enable operators to function efficiently, derive maximum profits, and support the digitization of global aircraft MRO operations.
Military Aircraft MRO Market Leaders
BAE Systems plc
Lockheed Martin Corporation
The Boeing Company
Raytheon Technologies Corporation
Safran
*Disclaimer: Major Players sorted in no particular order
