Finance expert Mike Periu on the one area of military spending that will increase in the next decade, The Military Aircraft MRO Market.
Many small businesses that serve as Department of Defense subcontractors would be adversely impacted if sequestration—the mandatory spending cuts that are part of the fiscal cliff—takes place. There is one segment of military spending, however, that is set to grow globally over the next decade—MRO for military aircraft.
MRO stands for maintenance, repair and overhaul. As military budgets become tighter, including here in the U.S., more governments are spending more money to ensure that older fixed wing aircraft stay in service longer. This requires greater maintenance and related expenses. In 2013 alone, it’s expected that the global MRO market for fixed wing aircraft will surpass $41 billion.
About Mike Periu
Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.
Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.
Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.
Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.
