South Asia & Asia-Pacific: The Fastest-Growing Regions For Military MRO Demand In The Next Decade
According to the latest version of Aviation Week Network’s fleet and MRO forecast, the regions with the fastest-growing military MRO demand are South Asia and the Asia-Pacific, both expanding at a 2.2% CAGR over the next decade. India is expected to surpass the regional trend with a 3.1% growth rate as it recapitalizes its fighter strength through the 2020s and 2030s.
Military aircraft are projected to generate $1.16 trillion in maintenance demand over the next 10 years. Annual spending on MRO activities is expected to grow steadily throughout the period, rising from $110.1 billion in 2022 to $122.8 billion in 2031, exhibiting a compound annual growth rate (CAGR) of 1.22%. To put that into context in terms of its importance to the wider military aerospace market, the value of deliveries of new aircraft over the same period will amount to $823.7 billion.