The global market for military ground vehicle maintenance, repair and overhaul (MRO) will be worth $5.66bn in 2013, according to new figures released on ASDReports. Annual spending on military vehicle maintenance contracts is predicted to be 4.7% higher this year than in 2012. This rise comes despite a prediction of a long slowdown in the large US market as a result of the imminent ending of combat operations in Afghanistan.
The forecasts are part of a new report entitled the Global Military Ground Vehicles Maintenance, Repair & Overhaul (MRO) Market 2013-2023, which identifies strong sources of spending outside the USA as the main reason for continued expansion of global spending. Nevertheless, the combination of withdrawal from active combat and the effect of budget sequestration is identified as a major restraint on market growth.
The report provides a detailed breakdown of the effects of this restraint on the USA’s national market, as well as of drivers and restraints in another 13 of the largest national markets for ground vehicle MRO.
The analyst who headed up our ground vehicle MRO research explained their findings; “Although over a decade of combat operations has driven the military ground vehicle MRO market to historic highs, the ending of these deployments, coinciding with a period of unprecedented economic uncertainty, puts the future of the market in some doubt. However, our research suggests that despite a long period of slow or negative growth, the US market will be larger in 2023 than it was in 2013. The resilience of spending in the largest national market for ground vehicle MRO, together with extremely strong growth from less well established sources, makes for a very positive long term global outlook.”
The report has 134 pages and contains 169 tables, charts and graphs to explain trends and market projections within the military ground vehicle MRO market. As well as a global forecast, visiongain provides figures and analysis for 14 leading national markets (plus the ‘Rest of the World’ market) and 3 global submarkets for the period 2013-2023, armoured vehicles, support vehicles and unmanned vehicles. The report also provides profiles of 18 leading companies operating in the military ground vehicle MRO market worldwide.
The Global Military Ground Vehicles Maintenance, Repair & Overhaul (MRO) Market 2013-2023 is an invaluable reference for current and future investors in armoured vehicle protection and subsystems, as well as to companies and researchers who need to quickly understand the direction of both market and policy.
Source: ASDReports - Market Research
Date: Apr 2, 2013