Research and Markets (Dublin, Ireland) issued its 2019-2024 analysis and forecast for trends in global military aviation. Maintenance, repair, and overhaul (MRO) will dominate military aerospace markets, with an expected growth of 8% over the forecast period.
“Currently, North America has the highest military aircraft fleet in the world, with the US having more than 13,000 military aircraft alone. The aging aircraft fleet of the country, coupled with various initiatives taken by the government to upgrade their military aircraft, will be the key growth drivers for the North America region's market growth,” according to Research and Markets.
BAE Systems, Elbit Systems, Saab, Lockheed Martin Corporation, and Pratt & Whitney are some of the major players in the market.