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

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

The market for naval vessel MRO is fragmented, with the presence of many international and domestic players that support navies around the world. Some of the prominent players in the naval vessel MRO market are General Dynamics Corporation, ThyssenKrupp AG, Naval Group, BAE Systems PLC, and Huntington Ingalls Industries. The companies are expanding their presence in the market by incorporating new technologies to decrease maintenance costs and receive new long-term contracts from navies around the world. In this regard, Indra, in collaboration with the Spanish Navy, tested new artificial intelligence systems that can predict malfunctions and improve the maintenance of its fleet of F100 frigates and Offshore Patrol Vessels BAM. Such new solutions are expected to help the companies predict and offer efficient MRO services to their customers, thereby increasing their shares in the market. The Middle Eastern countries are tying up with small players present in Europe and Asia-Pacific to form joint ventures and partnerships to gain access to markets while also helping them establish their business units and MRO facilities. Some of these partnerships are also mandated by the government offset clauses, which are being led by the United Arab Emirates and Saudi Arabia in the Middle East and India, Thailand, Indonesia, and Vietnam in Asia-Pacific.

Naval Vessel MRO Market Leaders

1. General Dynamics Corporation

2. ThyssenKrupp AG

3. Naval Group

4. BAE Systems PLC

5. Huntington Ingalls Industries Inc.

*Disclaimer: Major Players sorted in no particular order