Assessment of development prospects for the machine and equipment repair industry based on strategic analysis

The transformation of socio-economic processes in the global economic system cannot but affect the development of individual industries, which ultimately influence on the management efficiency of key enterprises in the industry as well as the effectiveness of their business processes in the current conditions. The current state of the machine and equipment repair industry can be determined on the basis of a strategic analysis, which will determine the main driving forces in the industry, which in turn is the basis for assessing the prospects for its development and forming effective strategic reactions. The purpose of the study is to identify and analyze factors influencing the current state of the machine and equipment repair industry and to assess the prospects for the development of the industry. The research methods are: comparative analysis of sources, content analysis of documents, expert assessment, statistical analysis, PEST analysis, and SPACE analysis. The result of the study is a list of driving forces in the industry and strategic responses to threats and opportunities that are significant for the industry in the medium term. The authors conclude that the specifics of the development of the machine and equipment repair industry are mainly determined by the following factors: sanctions imposed against Russia by some countries; growth of investments in the industry; increasing the importance of higher education; technological improvements; and the introduction of modern technologies into repair infrastructure. In addition, the authors note that the industry is characterized by the following prospects: the development of repair infrastructure, an increase in the rate of digitalization of business processes in the industry, and growth in production volumes within the framework of import substitution programs.