This research investigates the application of wire arc additive manufacturing (WAAM) for remanufacturing of damaged steel components. Mild steel plates are prepared with trapezoidal grooves to simulate defects, and robotic gas metal arc welding (GMAW) is utilized for multi-layer repairs. The results reveal that WAAM-repaired plates exhibit significantly higher ultimate tensile strength (UTS) than the base plates, with a 12.67% improvement attributed to the WAAM process and filler material. However, annealed WAAM-repaired plates exhibit reduced UTS compared to both the base plate and the non-annealed WAAM-repaired plates, with reductions of 17.75% and 27%, respectively. The investigation reveals the pivotal role of parameters like wire feed rate, torch travel speed, and torch tip distance in shaping repair outcomes. It further emphasizes the complex interplay of parameters in achieving better UTS in WAAM-repaired components. The WAAM-repaired plates demonstrate diminished impact toughness by 18.65% compared to the base plate, despite undergoing annealing for partial restoration. WAAM-repaired parts demonstrate a 16.57% improvement in corrosion resistance compared to the base plate. This experimental investigation provides valuable insights for improving the efficacy of the repair process and the subsequent repair quality.