Every industrial business has a budget for maintenance. The actual age of any parts or machines may or may not match the virtual age, and hence the need for maintenance means additional cost to be specified for each unit of the facilitiy. Maintenance business is not less in size than the manufacturing business itself.
As an example, the global offshore inspection, repair, and maintenance market size was $8.93 billion in 2020, and is projected to grow to $18.04 billion by 2028, with a CAGR of 9.4% during the forecast period. This is a small part of the global maintenance business, that covers almost all the heavy and intermediate industries.
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