How big is the Boat And Ship MRO Market?

The Boat And Ship MRO Market size is expected to reach USD 136.53 billion in 2024 and grow at a CAGR of 3.92% to reach USD 165.47 billion by 2029. Read More

What is the current Boat And Ship MRO Market size?

In 2024, the Boat And Ship MRO Market size is expected to reach USD 136.53 billion. Read More

Who are the key players in Boat And Ship MRO Market?

Huntington Ingalls Industries, L&T Shipbuilding Limited, Zamakona Yards (Reparaciones Navales Canarias SA), Bender CCP and HPI LLC are the major companies operating in the Boat And Ship MRO Market. Read More

Which is the fastest growing region in Boat And Ship MRO 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 Boat And Ship MRO Market?

In 2024, the Asia Pacific accounts for the largest market share in Boat And Ship MRO Market. Read More

What years does this Boat And Ship MRO Market cover, and what was the market size in 2023?

In 2023, the Boat And Ship MRO Market size was estimated at USD 131.38 billion. The report covers the Boat And Ship MRO Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Boat And Ship MRO Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Boat and Ship MRO Market Analysis | Industry Report, Size & Forecast

Boat and Ship MRO Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Boat and Ship MRO Market is segmented by Vessel Type (Boat, Yacht, Vessels, and Other Vessel Types), Vessel Application (Private, Commercial, and Defense), MRO Type (Engine MRO, Component MRO, Dry Dock MRO, Modifications, and Other MRO Types) and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report offers market size and forecast in value (in USD billion) for all the above segments.

Boat & Ship MRO Industry Overview

The boat and ship MRO market is slightly fragmented, with major players such as Larsen and Toubro Shipbuilding Limited, Huntington Ingalls Industries, and Abu Dhabi Ship Building Company dominating the market.

The market is witnessing collaborations among shipping and software companies, leading to cost reduction and rapid operational execution of maintenance, repair, and overhaul processes.

In April 2021, BAE Systems announced that it would deliver ship assist management, repair, and maintenance for the entire Portsmouth flotilla, supporting the Royal Navy under a GBP 900 million contract. It also planned to establish a joint venture with KBR to deliver technology-led and data-driven facilities management and dockside services at the base under a GBP 365 million contract.

In March 2021, Mitsubishi heavy industries signed an agreement with Mitsubishi E&S Holdings to take over government ship business and naval services with Mitsubishi E&S Holdings.

Several startups such as Maindeck, Nautix Technologies, and Closelink are working toward integrating technologies such as data science and cloud computing, with maintenance processes boosting the reduction in operational time.