Boat and Ship MRO Market Report 2026

The boat and ship mro market size has grown strongly in recent years. It will grow from $134.55 billion in 2025 to $141.65 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to global maritime trade, aging vessel fleet, regulatory compliance requirements, demand for operational reliability, dry dock infrastructure growth.

The boat and ship mro market size is expected to see strong growth in the next few years. It will grow to $179.94 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to fleet modernization programs, digital maintenance adoption, sustainability compliance, smart ship servicing, offshore activity recovery. Major trends in the forecast period include shift toward predictive maintenance services, growth of digital mro platforms, rising demand for retrofit and upgrade services, expansion of defense vessel maintenance, adoption of condition monitoring.

Rising marine trade is expected to propel the growth of the boat and ship MRO market going forward. Marine trade refers to the transportation of goods via ships across seas. MRO services provide commercial ships and boats with regular maintenance to prevent breakdowns and failures, while timely repairs ensure the vessel returns to operation quickly, minimizing further damage and costs, and complying with current and future international marine regulations. For instance, in September 2023, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, maritime trade is expected to grow by 2.4% in 2023 and more than 2% annually from 2024 to 2028. Therefore, rising marine trade is driving the growth of the boat and ship MRO market.

Major companies operating in the boat and ship MRO market are forming partnerships to develop new products and strengthen their market positions. For instance, in April 2023, Bureau Veritas, a France-based testing and certification company, collaborated with Kongsberg Digital AS, a Norway-based information technology company, to introduce a pioneering capability for digitized machinery maintenance. This collaboration allows Bureau Veritas' Machinery Maintenance Application (MMA) to integrate directly with vessel operators' maintenance management systems, such as K-Fleet from Kongsberg Digital. This initiative represents a significant advancement in supporting ship owners with machinery maintenance needs, leveraging technology integration and real-time data exchange. The collaboration builds on Bureau Veritas' MMA, connecting to ship operators' Computer Machinery Maintenance Systems (CMMS) and aims to replicate successful integrations with other ship owners for future data analytics and optimized maintenance models in the maritime industry.

In November 2023, Davie Shipbuilding, a Canada-based shipbuilder, completed the purchase of the assets of Helsinki Shipyard for an undisclosed amount. With this acquisition, Davie aims to expand its shipbuilding capacity, strengthen its presence in the European shipbuilding sector, accelerate new vessel construction capabilities, and enhance its technological and operational expertise. Helsinki Shipyard, Finland-based, specializes in the construction and repair of commercial and naval vessels, offering advanced shipbuilding and refurbishment services.

Major companies operating in the boat and ship mro market report include Huntington Ingalls Industries Inc., L&T Shipbuilding Limited, Zamakona Yards SA, Bender CCP, Abu Dhabi Ship Building Company PJSC, Mitsubishi Heavy Industries Limited, General Dynamics LLC, Rhoads Industries Inc., BAE Systems plc, Babcock International Group plc, Raytheon Technologies Corporation, Teledyne Marine plc, Lockheed Martin Corporation, Fincantieri S.p.A, Saab AB, PPG Industries Inc., Tata Steel Ltd., 3GA Marine Ltd, Austal Ltd, Bollinger Shipyards LLC, Chantier Naval de Marseille, Chantiers de l'Atlantique, Bath Iron Works, Navantia SA, Kongsberg Maritime, Damen Shipyards Group, ThyssenKrupp Marine Systems.

Asia-Pacific was the largest region in the boat and ship MRO market in 2025.Asia-Pacific is expected to be the fastest-growing region in the global boat and ship MRO market report during the forecast period. The regions covered in the boat and ship mro market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boat and ship mro market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The boat and ship MRO market consists of revenues earned by entities by providing various services such as production equipment repair and maintenance, material handling equipment repair and maintenance, managing tools and consumables, infrastructure maintenance, and supply-chain management and procurement. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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