The military aviation MRO market is expected to record a compound annual growth rate (CAGR) of 3.49% over the next decade, to increase from a market value of $28 billion in 2012 to reach $39.4 billion by 2022.
The market consists of four categories: Attack Aircraft MRO, Transport Aircraft MRO, Rotorcraft MRO and UAV MRO.
A significant number of countries are investing in the development of their domestic military aviation MRO capabilities by establishing strategic alliances and technology transfer agreements with established global manufacturers.
North America is the biggest military aviation MRO market at 49% of total military aviation MRO spending followed by Europe at 22%. The vast majority of North American military MRO originates from the United States, primarily driven by the region's modernisation programs and the overseas war against global terrorism.
Though the global military aviation MRO market is rising, it is currently facing a significant challenge in terms of skilled manpower to carry out the work efficiently.
This shortage is now restricting companies in the amount of work they can take on which is primarily due to the lack of in-house training programs which is further attributed to the MRO industry moving away from traditional apprenticeship programs in an effort to cut costs.
For more information on the military aviation MRO market, see the latest research: Military Aviation MRO Market Report
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.